Fashionable term for something which we have done all along

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Reference no: EM1330758

Target costing

Quote from a senior manager of a major company: "Our firm has always had a design to cost philosophy. Our engineers have to achieve very tight cost standards when designing new products. Target costing is just the new fashionable term for something we have done all along."

Do you agree with this statement? Has the firm been practicing target costing? Explain your reasoning.

Reference no: EM1330758

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