Question : ________ is a crucial management control theory based on the idea that trying to control everything only leads to controlling nothing.
Option 1: Management by Exception
Option 2: Critical Point Control
Option 3: Both (1) and (2)
Option 4: Budgetary control
Answer (1)
13th Jan, 2024
Correct Answer: Management by Exception
Solution : The philosophy behind the management strategy known as "management by exception" is that "trying to control everything leads in controlling nothing." This suggests that only critical and major deviations that are outside of the permitted range need to be under control. Hence, the correct option is 1.
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