management (noun, man-age-ment, \ ˈmænɪdʒmənt \) exception (noun, ex-cep-tion, \ ɪkˈsepʃn \)
Definition: is a business practice ensuring that a company’s management is only notified about information indicating that the actual results of the organization’s business activities are substantially different from the budgeted or projected results. The objective of MBE is to focus the management’s attention on crucial tactical and strategic missions and tasks. According to this practice, if a manager isn’t capable or allowed to make a decision, it’s passed on to a higher level of the company’s management hierarchy.
In a Sentence:
- Since Smooth Guidance adheres to the management by exception practice, Mr. Austin, as the CEO, is responsible for making all the business-related decisions that the lower-level managers aren’t permitted to make.
- Our firm’s MBE policy is extremely effective, as our managers are dedicated to solving large-scale problems and delegate smaller matters to their subordinates.
- As E-Opiate followed the management by exception approach, their owner handled only the mistakes that affected the entire company.
Synonyms and related words: management by delegation, management by results, management by design, management by fact, management by objectives
