Management by Exception Means

question 55

Multiple Choice

Management by exception means:

• A) understanding that exceptional circumstances may affect expected results.
• B) only variances that differ significantly from plan are investigated.
• C) exceptional staff are rewarded.
• D) responsibility is delegated.

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Definitions:

Special Interest Influence

The impact that interest groups or lobbyists can have on policymaking, often aiming to benefit a specific sector or group.

Property Rights

Legal rights to use, control, and dispose of property, including real estate, personal property, and intellectual property. These rights convey the benefits and responsibilities of ownership.

Competitive Markets

Marketplaces characterized by a large number of buyers and sellers, facilitating fair pricing and innovation.

Economic Outcomes

The results of economic activities and policies, encompassing aspects like growth, employment, inflation, and income distribution within a country or region.