Identifying the term which is based on the belief that "An attempt to control everything results in cobtrolling nothing"

Management by Exception

The correct answer is option (2) : Management by Exception

The term that is based on the belief that "An attempt to control everything results in controlling nothing" is "2. Management by Exception."

Management by Exception is an approach in which managers focus their attention and control efforts on areas that deviate from expected standards or norms. It involves identifying and dealing with exceptions or significant deviations rather than trying to control every aspect of a process. This approach is based on the understanding that attempting to control everything can be impractical and counterproductive.

1. Critical Point Control: Critical Point Control refers to a management approach where managers focus on specific critical points or key areas within a process or system that have a significant impact on overall performance. This approach emphasizes monitoring and controlling these critical points to ensure that the process runs smoothly and efficiently.

3. Budgetary Control: Budgetary Control is a management technique that involves setting budgets or financial plans and then comparing actual performance to the budget. The primary focus is on financial control and ensuring that expenditures align with the budgeted amounts. Budgets are used as standards, and any significant variances are investigated and addressed.

4. Personal Observation: Personal observation is a method where managers directly observe and assess the performance and behavior of employees or processes. It involves firsthand examination and monitoring of operations to ensure that they meet the desired standards. While personal observation can be a useful tool for control and management, it may not be feasible or effective for all aspects of an organization.

These approaches are all related to management and control techniques, but they differ in their specific focuses and methods for ensuring that an organization's goals and standards are met. Management by Exception is unique in its emphasis on addressing significant deviations from expected norms, while the other techniques have different approaches to control and monitoring.