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Dear Tutor,
What is meant by “Exception Principle”? Can you define and say one example for it?
Management by exception (which is what this refers to) is simply that managers should not spend their time on routine matters (they employ people to do this) but should instead spend their time investigating things that turn out differently that was is expected.
The best example of this is variance analysis – they should spend their time investigating the reasons for any large variances.
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