What Does Management by Exception Refer to in the Budgeting

question 86

Multiple Choice

What does management by exception refer to in the budgeting process?

• A)Rewarding exceptional effort
• B)Delegating responsibility, leaving management free for other things
• C)Concentrating most of management's efforts on those who do not achieve the budget
• D)Motivating staff to boost the reputation of the business

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Definitions:

Statistical Variation

The measure of how much data values in a statistical set differ from the average or mean value.

Profound Knowledge

Deep and comprehensive understanding in a particular field or subject, often driving innovative solutions or strategic insight.

Edwards Deming

An influential American engineer, statistician, and management consultant known for his work in quality management and improvement.

Real Processes

The actual procedures and tasks carried out to accomplish a specific goal in an organization, distinct from theoretical or idealized procedures.