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The manager at the Center of Research encourages interdepartmental coordination among the staff,and the pooling of expert knowledge from different business functions.The manager is concerned because the costing method implemented at the company is based on opinions rather than systematic estimation.This creates issues because the accuracy of the cost estimates is based on the skill of the employees that provide inputs.What cost estimation is implemented at the Center of Research?
Yardstick Approach
A method of evaluation that uses a specific standard or benchmark as a basis for comparison or judgment.
Organizational Approach
A method or strategy used by an organization to achieve its goals, often involving structure, planning, and management practices.
Circumstances
The conditions or facts affecting a situation, event, or action.
Example
A representative instance or case used to illustrate or explain a rule, method, or condition.
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