Describe the Three Phases of CRM and Provide Two Questions

question 34

Essay

Describe the three phases of CRM and provide two questions that an organisation might ask at each of the three phases.

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Definitions:

Standard Labour Hours

The calculated amount of labor hours predetermined to be necessary for completing a specific task or producing a certain quantity of goods.

Actual Hours Worked

The real number of hours an employee or workforce spends performing tasks during a specific period, as opposed to scheduled or standard hours.

Materials Price Variance

The difference between the actual cost of materials used in production and the standard (expected) cost.

Standard Quantity Of Hours

The standard quantity of hours refers to the pre-determined amount of labor hours estimated to be necessary to produce a single unit of output.