FUNCTIONAL ISOLATION

Ability to separate components or parts of a circuit or system. Intent is to protect as much of the associated circuit or system from a failure or malfunction in another associated or contiguous components or parts of the circuit or system.

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FUNCTIONAL MANAGEMENT

On the basis of type of work performed, arranging of an organization into managed departments or units.

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FUNCTIONAL OBSOLESCENCE

Device or equipment usefulness degradation. A relatively new computer is functionally obsolete if it is unable to run the latest program or peripheral the user needs. Design defect or inability to meet the user’s current needs are reason for this condition.

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FUNCTIONAL ORGANIZATION

The classic organizational structure. Hierarchically grouped employees, clear line management authority, and upward reporting to the single top leader. Downward hierarchy, with one top person, distinct lines of reporting, authority, and communication.

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FUNCTIONAL REGULATION

Authorized third-party oversight required by government. Typically, financial services companies receive this oversight. Intent is proven compliance by managed operations to prudent and fair-mannered processes.

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FUNCTIONAL STRATEGY

Organizational plan for functional areas such as human resources, marketing, R&D, MIS. Other corporate and business strategies are supported by each org plan, customized to its sector and industry.

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FUMAGE

In old English law. The same as fuage, or smoke farthings. 1 BL. Comm. 324. See FUAGE.

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FUMES

Visible or invisible (1) inorganic or organic liquid evaporations, (2) incomplete combustion exhaust, like from a gasoline engine, (3) chemical reaction exhaust, (4) heated metals or metallic compounds exhaust of submicroscopic particulate matter emissions. Also refer to smoke.

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