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Discuss management by objectives. How is it used? What are its advantages and disadvantages?
Production Difficulties
Challenges or issues encountered in the manufacturing process that can lead to delays, increased costs, or reductions in product quality.
Standards
Performance goals, often relating to how much a product should cost.
Bonuses
Additional financial rewards given to employees as an incentive or reward for their performance.
Standard Costs
Predetermined costs serving as a benchmark for evaluating the actual cost performance of operations.
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