CUET Business Studies 2025 22 May Shift 2 - "In company Ace Itd, if the plans lay down a 2 percent increase in labor cost as an acceptable range of deviation, only an increase in labor cost beyond 2 percent should be brought to the notice of the management. However, in case of major deviation from the standard (say, 5 percent), the matter has to receive immediate action from management on a priority basis". Identify the concept of management highlighted in the aforesaid statement. | PYQs + Solutions