The correct answer is A. Only important problems are looked after by the top management.
Management by exception is a management technique in which managers only focus on significant deviations from standard operating procedures. This allows managers to focus their attention on the most important issues and to delegate routine tasks to lower-level employees.
Option B is incorrect because management by exception does not necessarily involve rewarding the efficient and punishing the inefficient. Instead, it focuses on identifying and addressing significant problems.
Option C is incorrect because management by exception is a specific management technique, not a general concept.
Option D is incorrect because only option A is correct.
