3.10. Key Terms
Before you take the exam, be certain you are familiar with the following terms:
| accounting | lobbying |
| balanced scorecard | long-range plans |
| business process outsource (BPO) | low-context culture |
| centralized organization | marketing |
| decentralized organization | mid-range plans |
| fiduciary responsibility | objective |
| finance | operations |
| Financial Accounting Standards Board (FASB) | outside director |
| goal | production |
| high-context culture | sales |
| HR audit | short-range plans |
| human capital management plan (HCMP) | span of control |
| information technology (IT) | staff functions |
| inside director | strategic planning |
| Just-in-time (JIT) inventory | strategy |
| line functions |
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