What is the strategy associated with 'Management by exception'?

The strategy associated with 'Management by exception' is primarily focused on addressing deviations from standards and taking corrective actions when necessary. This approach allows managers to concentrate on significant issues that require their attention while minimizing time spent on routine management tasks where performance is meeting expectations.

In this context, 'Management by exception' operates under the premise that it is more efficient for managers to monitor only significant variances from expected performance, enabling them to focus their efforts on "putting out fires" or addressing problems that could impact organizational performance. As a result, corrective actions are taken when actual performance deviates from established goals or standards, thus ensuring that the organization stays on track toward its objectives.

The other options, while relevant to aspects of management and organizational behavior, do not encapsulate the core objective of 'Management by exception.' For instance, public recognition of achievements emphasizes motivation and morale, while regular feedback and collaborative goal-setting are more proactive approaches aimed at continuous performance improvement. These strategies do not prioritize the focus on exceptions as much as management by exception does, which specifically targets addressing significant discrepancies in performance.