Stake, Standard, Standard Industrials Classification, Standardization

Stake, Standard, Standard Industrials Classification, Standardization :

Stake : The sum one has invested in a company. Often, it is a reference to one’s portion of the total investment.

Standard : The cost for materials, labour, etc. which conform the expectations. Manufacturing to estimate the quality and quantity by which the performance of a machine, assembly line or crew is measured. Description of material or a product that is fabricated to a normal set of specifications.

Standard Industrials Classification : A process done by the federal government to identify and catalogue companies by the type of product or service which they provide.

Standardization : The defined process for size, quality, etc. which allow the interchanging of certain portions in different products or the furnishing of raw materials and parts by different suppliers


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