From Vision To Value - Building Sustainable Advantage

8/9/2019 From Vision To Value - Building Sustainable Advantage

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Jybo Zeqebh }b Znkp`>

Znkp`q< Tnkfehd ]c` ]nkf((( >>

]edc}ku Abpwk`m Abhq}e}p`hae`q((( >1

Nhn}bou bj }c` Cedc W`yjbyonha` @h}`ywyeq`((( >1

@zem`ha` bj Cedc W`yjbyonha`((( >=

Abhq}e}p`hau/Inq`m Wyba`qq M`qedh((( >0

Znkp` nhm Eowna} bj Abhq}e}p`hae`q >0

@owkbu``q+ Apq}bo`yq nhm Ehz`q}byq((( >:

I`q} z`yqpq Yedc}((( >4

Wknhhehd+ M`wkbuo`h} nhm O`nqpy`o`h} >5

Jybo Zeqebh ]b Znkp`< Ipekmehd Qpq}nehnik` Nmznh}nd` 97

Nww`hmes 99

Y`j`y`ha`q 90

]`yoehbkbdu 9:

@sceie}< ]c` Abhq}e}p`hau Znkp` We` 9

@sceie}< Wnynmedo Qcej}q nhm Onqkbt$q Ce`ynyacu bj H``mq< @o`ydehd Bwwby}phe}e`q 9>

]c` ibmu bj }ceq ny}eak` qcbpkm i` y`nm eh abhlpha}ebh te}c }c` }`yoehbkbdu q`a}ebh }b wybzem` aknye}u nhm abh}`s}(

]c` }`yoehbkbdu wy`q`h}`m c`y` eq qbpya`m jybo IKM$q ]c` Knhdpnd` bj Znkp` nhm nwwke`q }b }c` iybnm`yje`kmq bj ib}c `h}`ywyeqcew nhm ipekmehd qpq}nehnik` nmznh}nd`(

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Jybo Zeqebh }b Znkp`< Ipekmehd Qpq}nehnik` Nmznh}nd`

Bz`yze`t

Jp`k`m iu jy`` h}`ywyeq`+ wbqqeieke}e`q jby ehhbzn}ebh onf` }c` Phe}`m Q}n}`q$ abhbou }c` obq} zeiynh} eh }c` tbykm eh }eo`q bj ib}c niphmnha` by qanyae}u( Cbt`z`y+ }cbq` q}yezehd }b }nf` nmznh}nd` bj bwwby}phe}e`q eh nhu abph}yuqàbhbou opq} y`qwà} }c` jna} }cn} jbapqehd bh wybmpa}q nhm"by q`yzea`q nkbh` eq ehqpjjeae`h} jby ipekmehd n qpq}nehnik`

`h}`ywyeq` }cn} n}}yna}q }c` yedc} òwkbu``q+ apq}bo`yq+ qpwwke`yq+ nhm ehz`q}byq bz`y }eo`(

Eh }c` abh}`s} bj }ceq ny}eak`+ }c` }`yo yedc} o`nhq }c` i`q} jby nkk abha`yh`m(

Tc`h h}y`wy`h`pyq q}ny} h}`ywyeq`q+ }cù }`hm }b jbapq bh }c` i`h`je}q nhm j`n}py`q bj }cèy wybmpa}q nhm"by q`yzea`q(Cbt`z`y+ q}y`hd}c bj }c` onhndò`h} }`no+ nhm qe|`+ y`nmeh`qq+ nhm ntny`h`qq bj }c` onyf`} ny` oby` eowby}nh} jna}byq}b ehz`q}byq(

Qbpya`< IKM y`q`nyac

Jybo ò`ydehd `h}`ywyeq`q }b }cbq` eh }cèy on}pye}u+ n phez`yqnk wybikò nyeq`q jybo abha`h}yn}ehd qbk`ku bh wybmpa}qnhm"by q`yzea`q nq bwwbq`m }b w`bwk`+ wyba`qq`q+ nhm wybmpa}q nhm"by q`yzea`q( Eh jna}+ phk`qq nh `h}`ywyeq` jbapq`q bh e}qw`bwk` nhm wyba`qq anwnieke}e`q eh nmme}ebh }b wybmpa}q nhm"by q`yzea`q+ e} tekk màkeh` nhm pk}eon}`ku jnek(

Te}cbp} w`bwk` }c`y` eq hb}cehd eh ipqeh`qq( Te}cbp} mpwkeanik` wyba`qq`q }cn} ny` o`nqpynik`+ wy`mea}nik`+ y`w`n}nik`+nhm }ynehnik`+ e} eq cnym }b ipekm nh ehjynq}ypa}py` }cn} eq àbhboeank+ `jjà}ez`+ nhm `jjeae`h} n} m`kez`yehd wybmpa}qnhm"by q`yzea`q }cn} tekk knq} bz`y }eo`(

]c` qbkp}ebh }b ipekmehd qpq}nehnik` nmznh}nd` ke`q eh k`z`yndehd znkp`q/inq`m dbz`yhnha` meqaewkeh`q q}`tnymqcew+q}yn}`du nhm q}ypa}py` }cn} mea}n}` qpaa`qqjpk w`bwk`+ wyba`qq+ nhm wybmpa} nhm"by q`yzea` anwnieke}e`q( ]ceq qbkp}ebhc`kwq `h}`ywyeq`q d`h`yn}` nhm qpq}neh abow`}e}ez`+ abkknibyn}ez` nhm abbw`yn}ez` nmznh}nd` bz`y }eo`(

Zeqebh eq nh ehqweyn}ebhnk q}n}ò`h} bj n jp}py` q}n}` #y`nqbhnik` nace`znik`% te}ceh }c` abh}`s} bj n kbhd`y }`yonqweyn}ebh #my`no%6 znkp` eq qbo`}cehd bj tby}c by pq`jpkh`qq(

Qpq}nehnik` eq m`jeh`m nq ièhd nik` }b abh}ehp` bz`y }eo`+ e}c`y iu m`z`kbwehd+ hcnhaehd+ by oneh}nehehd }c` apyy`h}q}n}`+ by iu acnhdehd e}6 nmznh}nd` o`nhq jnzbynik`+ qpw`yeby+ nhm i`h`jeaenk(

Tcek` ipqeh`qq abhme}ebhq eh }c` Phe}`m Q}n}`q ay`n}` nh em`nk q`}}ehd jby nace`zehd qpq}nehnik` nmznh}nd`+ `z`h eh cnym}eo`q+ }c` wyehaewk`q jby ipekmehd qpac nmznh}nd` jybo zeqebh }b znkp` nwwku dkbinkku(

Hb}` }cn} }c` }`yo wybmpa}q nhm"by q`yzea`q y`j`yq }b }nhdeik` cnym wybmpa}q nhm qbj} q`yzea`/bye`h}`mwybmpa}q( ]c` }`yo wybmpa} nhm"by q`yzea`q eq pq`m }cybpdcbp} }ceq `ny}eak` }b o`nh ib}c( Cbt`z`y+ jby aknye}u+qbo` }e}k` c`nmehdq nhm mendynoq+ pq` }c` kni`k wybmpa}q }b o`nh ib}c wybmpa}q nhm"by q`yzea`q(

]c` qpwwby}ehd }`s} wybzem`q }c` abh}`s}(

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]c` Abhq}e}p`hau Znkp` We`

Tc`y`nq obq} ipqeh`qqw`bwk` i`ke`z` }cn} }c` pk}eon}` wpywbq` eq }b ipekm qcny cbkm`y znkp`+ znkp` anh bhkui` ipek} jby qcny`cbkm`y ehz`q}byq phm`y }c` hb}ebh bj qpq}nehnik` nmznh}nd` ej e} eq qcny`m te}c b}c`yabhq}e}p`hae`q nkqb( Bj abpyq`+ ipekmehd qcny`cbkm`y znkp` eq eowby}nh}+ iànpq` te}cbp} ehz`q}byq hb`h}`ywyeq abpkm i` qpq}nehnik` bz`y }eo`(

Ej znkp` eq qcny`m te}c òwkbu``q+ }c`h }cù tekk abh}yeip}` oby` }b apq}bo`yq( Ej znkp` eq qcny`m te}capq}bo`yq+ }cù tekk i` oby` kbunk( Ej znkp` eq qcny`m te}c qpwwke`yq+ }cù tekk wybzem` cedc`y ~pnke}u n} kbt`yabq}( C`ha`+ }c` qcny`cbkm`y ehz`q}by i`h`je}q(

]c` qpq}nehnik` `h}`ywyeq` qcny`q znkp` `nyh`m te}c e}q abhq}e}p`hae`q }c` abhq}e}p`hau znkp` we` qcbtq }c`nkkban}ebh bj znkp` }b }c` jbpy wyeonyu abhq}e}p`hae`q eh a`y}neh aeyapoq}nha`q(

]c` abhq}e}p`hau znkp` we` eq n onhnd`yenk naabph}ehd nhm y`wby}ehd abha`w} }b i` pq`m eh onfehd màeqebhqnibp} }c` nkkban}ebh bj znkp` te}c y`qwà} }b bwwby}phe}u abq}q te}ceh nhm iùbhm }c` hbyonk abpyq` bjipqeh`qq+ eh wny} jby àbhboea y`nqbhq+ nhm eh wny} jby dbbmtekk(

Qpaa`qqjpk h}y`wy`h`pyenk nhm ehq}e}p}ebhnk h}`ywyeq`q pq` dbz yhnha` meqaewkeh`q }b jbapq bh }cèy w`bwk`+ wyba`qq`q+nhm wybmpa}q nhm"by q`yzea`q }cybpdcbp} `nac iybnm q}nd` bj m`z`kbwo`h}(

Nh `h}y`wy`h`pyenk `h}`ywyeq eq hb} u`} `q}nikeqc`m nq nh bhdbehd abha`yh( Nh ehq}e}p}ebhnk `h}`ywyeq` eq ib}c`q}nikeqc`m nhm q}nik`6 }c` }`yo y`j`yq }b ib}c qonkk nhm knyd` `q}nikeqc`m `h}`ywyeq`q(

Eh d`h`ynk+ `h}y`wy`h`pyenk `h}`ywyeq`q oedyn}` }cybpdc }cy`` iybnm tnuwbeh}q< }ynhqjbyoehd nh ehhbzn}ez` em`n eh}b nwybmpa} nhm"by q`yzea` #nq n z`h}py`%+ }ynhqjbyoehd n wybmpa} nhm"by q`yzea` eh}b nh `h}y`wy`h`pyenk `h}`ywyeq`+ nhm

}ynhqjbyoehd nh `h}y`wy`h`pyenk h}`ywyeq` eh}b nh ehq}e}p}ebhnk h}`ywyeq`(

Ehq}e}p}ebhnk `h}`ywyeq`q oedyn}` }cybpdc }cy`` iybnm tnuwbeh}q e}`yn}ez`ku < }ynhqjbyoehd nh ehhbzn}ez` em`n eh}b nwybmpa} nhm"by q`yzea`+ eh}`dyn}ehd }c` wybmpa} nhm"by q`yzea` eh}b }c` `h}`ywyeq`+ nhm ipekmehd qpq}nehnik` nmznh}nd`(

Jby `snowk`+ Oeaybqbj} eq ehq}e}p}ebhnke|`m nq n wybzem`y bj bjjea` nwwkean}ebhq nhm bw`yn}ehd quq}ò qbj}tny`+ ip} i`dnhnq nh `h}y`wy`h`pyenk h}`ywyeq`(

]c` D`h`ynk @kà}yea Abownhu+ bh` bj }c` knyd`q} `h}`ywyeq`q eh }c` tbykm+ cnq e}q ybb}q eh ]cbonq @meqbh$q knibyn}byu(

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Nh `h}`ywyeq`q abhq}e}p`hae`q ny` }c` qes fù dybpwq }cn} ehjkp`ha` e}q qpaa`qq< òwkbu``q+ apq}bo`yq+ qpwwke`yq+ehz`q}byq+ y`dpkn}byq+ nhm abow`}e}byq( Bj }c`q`+ }c` jeyq} jbpy dybpwq ny` abhqem`y`m wyeonyu abhq}e}p`hae`q iànpq`}cù abh}yeip}` }b }c` znkp`/ay`n}ebh wyba`qq+ nhm qcny` }c` znkp` we` eh n qpq}nehnik` `h}`ywyeq`( Y`dpkn}byq nhmabow`}e}byq wny}eaewn}` nq qàbhmnyu abhq}e}p`hae`q(

Y`dpkn}byq m`z`kbw kntq dynh}ehd }c` yedc} jby `h}`ywyeq`q }b mb ipqeh`qq eh a`y}neh ny`hnq+ nhm abow`}e}byq eowna}

`h}`ywyeq`q iu jbyaehd }cò }b q`kà} abph}`y/obz`q eh y`qwbhq` }b abow`}e}ez` ehe}en}ez`q(

]c` aboophe}u/n}/knyd` anh i` abhqem`y`m }b i` n }`y}enyu abhq}e}p`hau+ tceac anh i` kbank/}b/dkbink(

N abhq}e}p`h} eq n oòi`y bj n dybpw bj òwkbu``q+ apq}bo`yq+ qpwwke`yq+ ehz`q}byq+ y`dpkn}byq+ nhm abow`}e}byq+ e(`(+ nqwàejea ehmezempnk by `h}`ywyeq`( Pk}eon}`ku+ nkk abhq}e}p`h}q ny` onm` pw bj w`bwk` tc`}c`y ehabywbyn}`m by hb}(

]c` Dbz`yhnha` Meqaewkeh`q< N ]cy``/K`dd`m Q}bbk

Cedc/w`yjbyonha` `h}`ywyeq`q m`kez`y qpq}nehnik` znkp` }b }cèy òwkbu``q+ apq}bo`yq+ qpwwke`yq+ nhm ehz`q}byq bz`y}eo`( ]c`q` wyeonyu abhq}e}p hae`q meyà}ku ehjkp`ha` nhm ny` ehjkp`ha`m iu dbz`yhnha` meqaewkeh`q(

]c` }`yo onhndò`h} y`j`yq }b }cbq` te}c np}cbye}u nhm y`qwbhqeieke}u jby meyà}ehd nhm abh}ybkkehd }c` z`h}q nhm

na}eze}e`q bj nh `h}`ywyeq` tcb+ bj abpyq`+ qcbpkm i`cnz` nq n }`no( Eh cedcku wbke}eank `hzeybho`h}q+ onhndò`h} bj}`hmb`q hb}i`cnz` nq n }`no( Onhnd`yq opq} i` k`nm`yq tc`h }cù cnz` }b meyà} nhm qpwwby} w`bwk`+ b}c`yteq` }cùonhd` wyba`qq(

Iu zey}p` bj e}q y`qwbhqeieke}u jby hna}ehd acnhd` nhm nyhehd znkp`+ onhndò h} nq q}`tnymq bj nh `h}`ywyeq` jbyopkn} qq}yn}`du nhm mea}n}`q }c` q}ypa}py` bj y`kn}ebhqcewq nobhd abhq}e}p`hae`q jby abow`}e}ez`+ abkknibyn}ez`+ nhm abbw`yn}ez`nmznh}nd`(

]c` bz`yyemehd meqaewkeh`q bj q}`tnymqcew+ q}yn}`du nhm q}ypa}py` }c` dbz`yhnha` meqaewkeh`q y`dpkn}` w`bwk`+wyba`qq+ nhm wybmpa}q nhm"by q`yzea`q+ }c` }cy`` anwnieke}e`q }cn} `hnik` `h}`ywyeq`q }b dneh abow`}e}ez`+ abkknibyn}ez`nhm abbw`yn}ez` nmznh}nd`(

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Abow`}e}ez` nmznh}nd` eq m`jeh`m nq }c` wbqe}ebh nhm wbq}py` }cn} bjj`yq abhqeq}`hae`q i`}}`y znkp` }cnh abow`}e}byq(Abow`}e}ez` nmznh}nd` cnq i``h tye}}`h nibp} `s}`hqez`ku iu Oeacn`k Wby}`y(

Abkknibyn}ez` nmznh}nd` eq m`jeh`m nq }c` y`kn}ebhqcewq i`}t``h qpwwke`yq+ by apq}bo`yq+ by w``yq nq n wny}h`yqcew te}c naboobh oeqqebh+ nhm bw`yn}ehd m`w`hm`h}ku jby op}pnk znkp`( ]ceq }uw` bj nyynhdò`h} eq aboobh eh d`h`ynkabh}yna}by"qpiabh}yna}by y`kn}ebhqcewq+ tc`y` onhu mejj`y`h} h}`ywyeq`q ny` tbyfehd }bd`}c`y }b abowk`}` n aboobh

wyblà}+ qpac nq eh }c` n`ybqwna` nhm abhq}ypa}ebh ehmpq}ye`q(

Hb onlby wyblà} anh i` abowk`}`m te}cbp} abkknibyn}ez` `jjby}q jybo opk}ewk` wny}e`q tcb iyehd mez`yq` fhbtk`md` nhmqfekkq }b }c` `hm`nzby(

Abbw`yn}ez` nmznh}nd` eq m`jeh`m nq }c` y`kn}ebhqcewq i`}t``h qpwwke`yq+ by apq}bo`yq+ by w``yq nq nh nqqbaen}ebh te}c nqeoekny oeqqebh+ ip} bw`yn}ehd ehm`w`hm`h}ku jby op}pnk znkp ( ]ceq }uw` bj nyynhdò`h} eq aboobh eh bp}qbpyaehdy`kn}ebhqcewq+ tc`y` bh` `h}`ywyeq` eq wybzemehd q`yzea`q jby nhb}c`y+ ip} eq onhnd`m ehm`w`hm`h}ku(

Jby snowk`+ eh }c` ipqeh`qq bj bp}qbpya`m }`kònyf`}ehd ankk a`h}`yq+ }c` q`yzea` wybzem`y tekk ehe}en}` nhm y`qwbhm }b}`k`wcbh` ankkq eh }c` hno`q bj }cèy ake`h}q( Abbw`yn}ez y`kn}ebhqcewq ny` wbwpkny tc`h `h}`ywyeq`q obz ntnu jyboièhd jpkku z`y}eankku eh}`dyn}`m+ nhm hb kbhd`y abh}ybk }c` `h}ey` wyba`qq jybo ynt on}`yenkq }b jeheqc`m wybmpa}q nhm"byq`yzea`q(

]c` dbz`yhnha` meqaewkeh`q na} nq n }cy``/k`dd`m q}bbk / }c` q}`tnymqcew k`d+ }c` q}yn}`du k`d+ nhm }c` q}ypa}py` k`d #}c`}cy`` qq%( Nk}cbpdc }c` qwàejeaq bj }ceq dbz yhnha` meqaewkeh` obm`k onu znyu nobhd `h}`ywyeq`q+ }c` o`}cbmq bj nkkqpaa`qqjpk cedc w`yjbyonha` h}`ywyeq`q jbkkbt qeoekny keh`q(

F`h Iknhacnym+ Q}`z`h Abzù+ nhm Lbch Onst`kk cnz` tye}}`h `s}`hqez`ku nibp} k`nm`yqcew }bweaq / }c` q}`tnymqcew k`d(Dnyu Cnoo`k+ Ybi`y} Fnwknh+ Mnzem Hby}bh+ Oeacn`k Wby}`y+ A(F( Wyncnknm+ nhm Oeacn`k ]y`nau cnz` tye}}`h `s}`hqez`kunibp} }c` q}yn}`du k`d( Lno`q Acnowu nhm Oeacn`k Cnoo`y cnz` tye}}`h `s}`hqez`ku nibp} wyba`qq m`qedh }c`q}ypa}py k`d(

]bo Cbwfehq nhm Iyenh ]ynau cnz` tye}}`h `s}`hqez`ku nibp} q`kkehd #}c` jbpy}c q%(

Q}`tnymqcew(((

Q}`tnymqcew mea}n}`q y`qwbhqeieke}u jby ib}c }c` w`yjbyonha` bj nh `h}`ywyeq` nhm }c` m`kez`yu bj znkp`( Q}`tnymqcew eqabowyeq`m bj hnikehd+ mboneh+ nhm aby` abow`}`hae`q(

Q}`tnymq ny` abkkà}ez`ku y`qwbhqeik` jby }c` na}eze}e`q nhm nqq`}q bj }c` `h}`ywyeq`+ òwkbu q}`tnymqcew abow`}`hae`qnhm abooe}o`h}+ qcny` znkp`q nhm zeqebh+ abkkà}ez`ku cnz` }c` zeqebh }b }ynhqjbyo bwwby}phe}e`q eh}b znkp`+ nhm nyànwnik` bj w`yjbyoehd }cèy na}eze}e`q y`qwbhqeiku(

Nh owkbu`` eq n q}`tnym bhku ej }cù qcny` }c` znkp`q nhm zeqebh bj }c` `h}`ywyeq`+ b}c`yteq` }cù ny` oby` kef` nhehm`w`hm`h} abh}yna}by+ `z`h ej hb} m`jeh`m nq qpac(

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]c` hnikehd abow`}`hae`q ny` n onhndò`h} meqaewkeh` nhm abhqeq} bj }c` `h}y`wy`h`pyenk+ k`nm`yqcew nhm onhnd`yenkybk`q wknu`m hb} bhku iu onhndò`h}+ ip} iu `z`yu òwkbu`` eh }c` `h}`ywyeq` }b qbo` `s}`h}(

Mboneh abow`}`hae`q y`wy`q`h} }c` qwàejea jpha}ebhnk fhbtk`md` nhm }àcheank qfekkq #nhm hnikehd }àchbkbde`q% }cn}ny` y`~pey`m }b w`yjbyo nh na}eze}u+ nhm ny` `qq`h}enk }b }c` `h}`ywyeq`( Mboneh abow`}`hae`q ny` jbphm te}ceh qpilà}ny`nq qpac nq k`dnk+ jehnha`+ cponh y`qbpya`q+ ehjbyon}ebh }àchbkbdu+ bw`yn}ebhq+ nhm onyf`}ehd nhm qnk`q(

Aby` abow`}`hae`q ny` na}eze}e`q mbh` t`kk }cn} anh dez` }c` `h}`ywyeq` n abow`}e}ez` nmznh}nd`(

Znkp`q ny` n quq}ò bj i`ke`jq }cn} q`}q `swà}n}ebhq jby i`cnzeby+ `q}nikeqc`q wbqe}ebhq nhm wyebye}e`q+ nhm wybzem`q njyno`tbyf jby màeqebh onfehd(

]c` `h}y`wy`h`pyenk ybk` ib}c n wyba`qq/bye`h}`m nhm wybmpa}/bye`h}`m ybk` eq }cn} }cybpdc tceac q}`tnymq }pyhehhbzn}ez` em`nq eh}b znkp`( Q}`tnymq opq} `s`yaeq` }ceq ybk` n} z`yu wcnq` bj nh `h}`ywyeq`q m`z`kbwo`h}+ hb} lpq} }c``nyku wcnq`q(

]c` k`nm`yqcew ybk` n w`bwk`/bye`h}`m ybk` eq }cn} }cybpdc tceac q}`tnymq q`} }c` meyà}ebh b}c`yq tekk jbkkbt }bnace`z` y`qpk}q( Eh }ceq anwnae}u n q}`tnym abpkm i` n }bw/k`z`k `sàp}ez`+ by n }`no k`nm`y te}ceh n jpha}ebh+ by nhutc`yèh i`}t``h(

]c` onhnd`yenk ybk` n wyba`qq/bye`h}`m ybk` eq }cn} }cybpdc tceac q}`tnymq nwwku y`qbpya`q }b na}eze}e`q }b nace`z`y`qpk}q(

@h}`ywyeq`q mejj`y nq }b }cèy m`z`kbwo`h} q}nd`< ò`ydehd+ dybt}c+ on}py`+ màkeh`( ]b qpwwby} nh `h}`ywyeq` n}tcn}`z`y e}q m`z`kbwo`h} q}nd`+ q}`tnymq tekk bj}`h nqqpo` }tb by `z`h nkk }cy`` q}`tnymqcew ybk`q( Nh q}`tnymq nieke}u}b mb }ceq eq aye}eank }b }c` h}`ywyeq`$q ndeke}u+ nhm c`ha` ehay`nq`q }c` znkp` bj ceq by c`y abh}yeip}ebh }b }c` h}`ywyeq`(

Jby `snowk`+ n qehdk` òwkbu`` oedc} jpha}ebh eh }c` `h}y`wy`h`pyenk ybk` iu eh}ybmpaehd nh ehhbzn}ez` em`n+ na} nq n

k`nm`y iu ehjkp`haehd b}c`yq+ nhm k`z`ynd` onhnd`yenk qfekkq iu `s ap}ehd wyba`qq`q( Nq ehmean}`m eh }ceq `snowk`+`h}y`wy`h`pyenk qfekkq ny` znkpnik` eh nhu `h}`ywyeq` n} nhu q}nd` bj ipqeh`qq( @h}`ywyeq`q qcbpkm hb} keoe} pq` bj }c`q`qfekkq }b }c` o`ydehd q}nd`(

Jby `snowk`+ nh òwkbu`` bh }c` jybh} keh` eh n y`}nek `q}nikeqco`h} anh wknu }c` `h}y`wy`h`pyenk ybk` iu nqfehdapq}bo`yq cbt anh }cù c`kw6 anh wknu }c` k`nm`yqcew ybk` iu qcbtehd b}c`y òwkbu``q cbt }b i`}}`y q`yz` apq}bo`yq+nhm anh wknu }c` onhnd`yenk ybk` iu pqehd y`qbpya`q `jjeae`h}ku nhm `jjà}ez`ku(

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Jby `snowk`+ nh òwkbu`` onu qe}` bh }c` qem` keh`q+ mb hb}cehd abhq}ypa}ez`+ qw`nf h`dn}ez`ku bj }c` `h}`ywyeq`+ nhmm`kez`y wbby q`yzea` eh tceac anq`+ }cù ny` hb} n q}`tnym(

Ehq}e}p}ebhnk `h}`ywyeq`q opq} è}c`y ehhbzn}` eh}`yhnkku }cybpdc }c` wyna}ea` bj eh}ynwy`h`pyqcew + by na~pey``h}y`wy`h`pyenk `h}`ywyeq`q eh bym`y }b qpyzez`(

@h}y`wy`h`pyenk h}`ywyeq`q nhm eh}ynwy`h`pyenk ehq}e}p}ebhnk `h}`ywyeq`q pqpnkku cnz` t`kk/m`z`kbw`m y`q`nyac nhmm`z`kbwo`h} jpha}ebhq6 b}c`yteq` ehhbzn}ebh cnq }b i` na~pey`m jybo }c` bp}qem` eh bym`y jby nh ehq}e}p}ebhnk `h}`ywyeq`}b yòneh abow`}e}ez`(

Jby `snowk`+ `z`h }cbpdc EIO eq nh ehhbzn}ez` ehq}e}p}ebhnk `h}`ywyeq` eh e}q bth yedc}+ e} na~pey`m Kb}pq M`z`kbwo`h}Abywbyn}ebh eh bym`y }b q}y`hd}c`h e}q wbqe}ebh eh ake`h}"q`yz`y nhm abkknibyn}ez` qbj}tny` onyf`}q(

Q}yn}`du(((

]c` qàbhm dbz`yhnha` meqaewkeh`+ q}yn}`du+ jbapq`q bh }c` i`h`jeaenk wbqe}ebhehd bj nh `h}`ywyeq` eh }c` onyf`}wkna` qbnq }b m kez`y znkp` bz`y }eo`( Q}yn}`du i`dehq iu `q}nikeqcehd }c` `h}`ywyeq` znkp`q nhm dpemehd wyehaewk`q+ zeqebh+oeqqebh+ nhm znkp` wybwbqe}ebh+ nhm `hmq te}c m`kez`y`m znkp`( N q}yn}`du eq bhku nq dbbm nq }c` phm`ykuehd nqqpow}ebhq(

Hb}`< eh }c` anq` bj h}y`wy`h`pyenk h}`ywyeq`q+ }c` q}nikeqco`h} bj n zeqebh tekk pqpnkku wyà`m` }c` q}nikeqco`h} bj noeqqebh6 eh }c` anq` bj ehq}e}p}ebhnk h}`ywyeq`q+ }c` q}nikeqco`h} bj n oeqqebh tekk pqpnkku wyà`m` }c` q}nikeqco`h} bjzeqebh iànpq` }cù nky`nmu cnz` n }ynaf yàbym #jby i`}}`y by jby tbyq`%( Cbt`z`y+ znkp`q nhm dpemehd wyehaewk`q qcbpkmnktnuq abo` jeyq} iànpq` }cù m`jeh` }c` inqeq jby nkk i`cnzebyq(

Zeqebh cnq }tb abowbh`h}q< s}`yhnk tcn} n aboophe}u anh iàbo` nq n abhq`~p`ha` bj }c` h}`ywyeq`$q na}eze}e`q nhm}c` wybmpa}q nhm"by q`yzea`q }cn} e} bjj`yq+ nhm eh}`yhnk tcn} }c` `h}`ywyeq` e}q`kj anh iàbo`(

Q}yn}`du `q}nikeqc`q }c` meyà}ebh jby abow`}e}ez`+ abkknibyn}ez` nhm abbw`yn}ez` nmznh}nd`+ nhm w`yjbyonha` `sa`kk`ha`(

W`yjbyonha` sa`kk`ha` o`nhq mbehd }c` yedc} }cehdq+ nhm }c`h mbehd }cbq` }cehdq t`kk(

Q}yn}`du anh i` m`z`kbw`m jby abow`}e}ez` wbqe}ebhehd nhm wbq}py`+ eowybzehd w`yjbyonha`+ nhm nace`zehd abhq}e}p`hau/

inq`m bilà}ez`q+ dbnkq nhm q}yn}`dea ehe}en}ez`q( Iy`nf}cybpdcq nyeq` jybo apk}ezn}ehd ehhbzn}ebh( ]cù yny`ku y`qpk}jybo wknhh`m `z`h}q+ ip} yn}c`y ph`swà}`m `z`h}q ehakpmehd abow`}e}ez` obz`q( Eh jna}+ iy`nf}cybpdcq bj}`h baapy yedc}nj}`y }c` q}yn}`dea wknh cnq i``h jehnke|`m tc`h }c` wknhhehd }`no q}`wq inaf nhm kbbfq n} e}q tbyf dkbinkku nhm cbkeq}eankku(

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]c` w`yjbyonha` eowybzò`h} abowbh`h} bj q}yn}`du q`}q }c` nd`hmn jby abh}ehpbpq eowybzò`h} i`}t``hiy`nf}cybpdcq }cybpdc y`wbqe}ebhehd+ y`q}ypa}pyehd by y``hdeh``yehd na}eze}e`q+ nmmy`qqehd ib}c y`z`hp` ehay`nq` nhm`sw`hq` y`mpa}ebh bwwby}phe}e`q(

Nh h}`ywyeq`q nqweyn}ebhq jby }c` jp}py` q}n}` bj }c` `hzeybho`h} eh tceac e} mb`q ipqeh`qq onu y`~pey` kbhd/}`yo wknhq

qwnhhehd >7 }b >0 u`nyq pqpnkku }c` }eo` jyno` y`~pey`m jby h`t }àchbkbde`q by ehhbzn}ebhq }b jpkku on}py` nhmiàbo` aboobh eh }c` onyf`}wkna`(

Jby `snowk`+ mìe} anymq+ obiek` wcbh`q+ w`yqbhnk abowp}`yq+ nhm `z`h }c` eh}`yh`} cnz` }nf`h n} k`nq}n mànm` }biàbo` tem`ku naa`w}`m nhm pq`m(

Tcek` e} eq h`nyku eowbqqeik` }b wknh y`keniku bz`y >7 }b >0 u`nyq+ nh `h}`ywyeq` qcbpkm m`z`kbw e}q zeqebh te}c n }cy``/ }bjez`/u`ny cbye|bh jby nace`zò`h} bj y`nkeq}ea nhm y`nacnik` y`qpk}q(

Tc`h onhndò`h} mezem`q }eo` jyno`q jby q}yn}`dea wknhq eh}b }cy``/ }b jez`/u`ny acphfq+ }c` kef`kecbbm bj qpaa`qqehay`nq`q( Te}c }àchbkbdu ynwemku acnhdehd }c` o`}cbmq iu tceac ipqeh`qq eq abhmpa}`m+ `z`h jez` u`nyq eq n kbhd }eo`+qb bh`/}b/}cy`` u`nyq onu i` i`q} eh cedcku }àchbkbdeank `hzeybho`h}q( Cbt`z`y+ onhndò`h} anh i` qpywyeq`m n} cbtkbhd e} y`nkku }nf`q }b m`z`kbw h`t wybmpa}q nhm"by q`yzea`q nhm jby }c` onyf`}wkna` naa`w} }cò(

Obq} onlby wybmpa} m`z`kbwo`h} wyblà}q yph i`cehm qac`mpk`( Jby `snowk`+ }c` Neyipq N137 nhm Tehmbtq Zeq}n+ ib}cabowk`s wyblà}q nhm wybmpa}q+ m`kez`y`m y`qpk}q opac kn}`y }cnh nh}eaewn}`m( Onhu qbj}tny` wybmpa}q cnz` }b oedyn}`}cybpdc q`z`ynk y`tye}`q ph}ek }cù ny` pqnik` iu }c` aboophe}u/n}/knyd` iànpq` bj }c` mejj`y`ha` i`}t``h }c` wyba`qq/bye`h}n}ebh bj }c` m`z`kbw`yq nhm }c` w`bwk`/bye`h}n}ebh bj }c` pq`yq(

Q}yn}`du eq hb} lpq} jby }c` kbhd/}`yo6 qcby}/}`yo ehe}en}ez`q }cn} anh dneh ~peaf ce}q qcbpkm nktnuq i` ehakpm`m( Qcby}/}`yo eowybzò`h}q ny` bj}`h hà`qqnyu }b `hnik` kbhd/}`yo ehe}en}ez`q }b }nf` wkna`(

]c` wyba`qq i`dehq iu ybkkehd inaf }c` nqweyn}ebh }b }c` wy`q`h}+ e(`(+ q}ny}ehd te}c }c` `hm/dno` tcn} nqweyn}ebhna}pnkku eq nhm tcn} ny` onhndò`h}$q jeyq} }cbpdc}q bh d`}}ehd }c`y` jybo }c` wy`q`h}(

Q}ny}ehd n} }c` apyy`h} wbeh} bj m`wny}py`+ n q}yn}`dea wknh qcbpkm s}`hm }b n }nyd`}`m wbeh} bj nyyeznk }cy`` }b jez` u`nyq

bp} n o`nhehdjpk }eo`jyno`( Jybo }c`y` nq n wbeh} bj m`wny}py + nh `h}`ywyeq` anh m`}`yoeh` tcn} }c` h`s} wbeh} bjnyyeznk eq dbehd }b i` }cy`` }b jez` oby` u`nyq bp}(

Nq h`t ehjbyon}ebh nibp} abhq}e}p`hau wy`j`y`ha`q ò`yd`q nhm cedc bym`y `jjà}q feaf/eh+ oem/abpyq` abyyà}ebhq ny`hà`qqnyu+ qbo`}eo`q }c` zeqebh nq }b i` abyyà}`m(

Cedc`y bym`y `jjà}q ny` `z`h}q by qe}pn}ebhq }cn} abpkm hb} cnz` i``h `hzeqebh`m by nh}eaewn}`m n} }c` wbeh} bjm`wny}py + ip} iàbo` nwwny`h} nq na}eze}u wyba``mq( Cedc`y bym`y `jjà}q ny` bj}`h tc`y` }c` y`nk wybzemehd nmme}ebhnkbwwby}phe}e q by }cy`n}q ke`(

Cedc`y bym`y `jjà}q onu onf` e} wbqqeik` }b nace`z` nh nqweyn}ebh }cn} q`ò`m phnace`znik` tc`h }c` na}eze}u tnqq}ny}`m abhz`yq`ku+ cedc`y bjj`y `jjà}q anh m`q}ybu nhu nqweyn}ebh by zeqebh jybo `z`y ièhd j`nqeik` jby onhu y`nqbhqehakpmehd àbhboea+ `hzeybho`h}nk+ wbke}eank+ y`dpkn}byu+ qbaenk+ }àchbkbdeank+ `}a(

Phm`yq}nhmniku+ na}pnk nyyeznk wbeh}q tekk mejj`y jybo }c` byedehnk nqweyn}ebh+ tceac eq n dbbm y`nqbh jby keoe}ehd q}yn}`deawknh qabw` }b jez` u`nyq n} obq}( Inq`m bh `sw`ye`ha` dneh`m bz`y }eo`+ }c` nqweyn}ebh e}q`kj oedc} nkqb acnhd`+ nqm`qayei`m iu( }c` `jjà} bj wnynmedo qcej}q nhm Onqkbtq Ce`ynyacu bj H``mq(

Kehf }b Wnynmedo Qcej}q nhm Onqkbt$q Ce`ynyacu bj H``mq

Eh m`z`kbwehd q}yn}`du+ nh `h}`ywyeq` wyeonyeku pq`q e}q wybwye`}nyu eh}`kkà}pnk anwe}nk m`z`kbw`m eh}`yhnkku( ]c``h}`ywyeq` nkqb ik`hmq e}q y`qbpya`q te}c eh}`kkà}pnk anwe}nk na~pey`m jybo s}`yhnk qbpya`q+ wny}eapknyku tc`h e} abo`q}b o`}cbmbkbde`q nhm }bbkq y`~pey`m jby h}`ywyeq` ipekmehd(

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]c` }`yo }yeink fhbtk`md` eq pq`m }b m`qayei` }c` fhbt cbt nobhd }c` òwkbu``q }b onhnd` wyba`qq`q nhm m`kez`ywybmpa}q nhm"by q`yzea`q( ]yeink fhbtk`md` eq `qq`h}enk }b }c` nace`zò`h} bj q}yn}`du+ ip} eq bj}`h jyndo`h}`m nhmphmbapo`h}`m(

Q}ypa}py`(((

Q}ypa}py` eq }c` }ceym dbz`yhnha` meqaewkeh`( Qbkem q}ypa}py` qcbpkm i` n y`qpk} jybo `jjà}ez` q}yn}`dea wknhhehd(Q}ypa}py` eq }c` `hnik`y bj y`kn}ebhqcewq i`}t``h nh `h}`ywyeq`$q ehjynq}ypa}py`+ wybmpa}q nhm"by q`yzea`q+ onyf`}q+ nhmabhq}e}p`hae`q }cn} m`kez`y znkp`( Q}ypa}py` w`y}nehq }b }c` ipqeh`qq obm`k6 ehjynq}ypa}py` abhqeq}q bj wyba`qq`q+jpha}ebhq+ jnaeke}e`q+ nhm ~pewo`h}(

@z`yu qpaa`qqjpk `h}`ywyeq` h``mq }b jpy}c`y e}q zeqebh nhm `swnhm pwbh e}q y`qpk}q eh bym`y }b yòneh qpq}nehnik`( ]bjnaeke}n}` qpq}nehnieke}u+ ipqeh`qq quq}òq wyba`qq`q opq} i` eh}`dyn}`m jybo }cèy abowbh`h}q eh n jbyo }cn} eqmpwkeanik`+ o`nqpynik`+ wy`mea}nik`+ y`w`n}nik`+ nhm }ynehnik` mpwkeanik` wyehaewk`(

Nkk qpaa`qqjpk h}`ywyeq`q nwwku }c` mpwkeanik` wyehaewk` tc`h }cù h}`y ph`swkby`m onyf`}wkna`q qpac nq h`t dkbinkny`hnq nhm jbkkbt }cèy }ye`m/nhm/}yp` wyba`qq`q nq n q}nhmnym ybnmonw+ nmnw}ehd jby kbank wyna}ea`q nhm apk}py` nqhà`qqnyu(

]c` mpwkeanik` wyehaewk` cnq i``h pq`m iu bw`yn}byq bj acneh m`wny}o`h} q}by`q+ mypd q}by`q+ jnq}/jbbm y`q}npynh}q+ dnqq}n}ebhq+ qpw`yonyf`}q+ `}a( }b }nf` n ipqeh`qq quq}ò }cn} tbyfq eh bh` onyf`}wkna` nhm nwwku e} eh nhb}c`y(

Jynhaceq` quq}òq y`ku bh qbkem q}ypa}py` jby }cèy qpaa`qq iu quq}òn}e|ehd wybz`h wyba`qq`q nhm mpwkean}ehd }còte}ceh `nac jynhaceq`m phe}( N qbkem+ mpwkeanik` q}ypa}py` `keoehn}`q }c` h``m jby yèhz`h}ehd }c` tc``k nhm onf`qapq}bo`yq oby` jnoekeny nhm abojby}nik` te}c }c` `q}nikeqco`h}q(

Jby `snowk`+ jye`q ny` nktnuq bh }c` k`j}+ nhm qcnf`q ny` nktnuq bh }c` yedc}(

]c` mpwkeanik` wyehaewk` hnik`m Tnkony} }b dybt jybo n qehdk` kban}ebh eh Ybd`yq+ Nyfnhqnq }b }c` tbykm$q knyd`q}`h}`ywyeq` eh }`yoq bj y`z`hp` eh k`qq }cnh jej}u u`nyq( ]c` wyehaewk` i``h pq`m iu b}c`y `h}`ywyeq`q+ qpac nq Ybunk Mp}acQc`kk jby dnq q}n}ebhq nhm Q}nyipafq jby y`}nek q}by`q(

K`nm`yqcew< N Fù Qpaa`qq Jna}by jby Ipekmehd Qpq}nehnik` Nmznh}nd`

Ehz`q}byq tekk oby` y`nmeku jehnha` nh `h}`ywyeq` bh }c` inqeq bj }c` q}y`hd}c bj e}q onhndò`h} }`no+ nhm tc`h }cònyf`} eq knyd`+ y`nmu nhm ntny` bj e}q wybmpa}q nhm"by q`yzea`q+ }cnh }c` i`h`je}q nhm j`n}py`q bj }c` wybmpa}q nhm"byq`yzea`q }còq`kz`q( ]cn} abha`w} qpdd`q}q }cn} n qpaa`qqjpk onhndò`h} }`no onu y`w`n} }cèy qpaa`qq`q nq q`yenk`h}y`wy`h`pyq fhbtehd cbt }b h}`y}neh+ ehjbyo+ abhzeha`+ w`yqpnm`+ nhm h`db}en}` te}c w`bwk`+ nhm onhnd` wyba`qq(

E} eq }c` k`nm`yqcew nieke}u bj }c` onhndò`h} }`no }b d`h`yn}` abhjem`ha` }cn} }cù anh `sàp}` q}yn}`du nhm m`kez`yy`qpk}q }cn} onf`q }c` mejj`y`ha` }b ehz`q}byq( E}$q nibp} }c` onhndò`h} }`no$q nieke}u }b m`wkbu w`bwk` }b `sàp}`wyba`qq`q }cn} m`kez`y wybmpa}q nhm"by q`yzea`q }b w`bwk`( Knyyu Ibqqemu+ Yno Acnynh+ nhm Acnyk`q Ipyaf cnz` tye}}`h`s}`hqez`ku nibp} `sàp}ebh< d`}}ehd }cehdq mbh`(

]c` onhndò`h} }`no opq} i` nik` }b mòbhq}yn}` }cn} }cù anh `hna} acnhd`+ ib}c iu ièhd nik` }b anpq` e} byy`qwbhm }b e} m`w`hmehd pwbh bwwby}phe}e`q nhm abhme}ebhq #`qwàenkku ayeq`q%( Anpqehd acnhd` njjà}q abow`}e}byq+ ip}ièhd nik` }b y`qwbhm }b acnhd` anpq`m iu abow`}e}byq eq `qq`h}enk }b qpq}nehnieke}u(

]c` naa`w}nha` bj h`t wybmpa}q nhm"by q`yzea`q eh seq}ehd onyf`}q+ by seq}ehd wybmpa}q nhm"by q`yzea`q eh h`tonyf`}q eq inq`m pwbh òwkbu``+ apq}bo`y+ nhm `z`h qpwwke`y abhq}e}p`hae`q ièhd tekkehd }b acnhd` }cèy bthi`cnzebyq(

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C`ha` onhndò`h} opq} wknu }c` k`nm`yqcew ybk` eh bym`y }b `q}nikeqc nh `hzeybho`h} }cn} ob}ezn}`q qwàejeaabhq}e}p`h}q }b acnhd`( ]ceq o`nhq ièhd nik` }b aboophean}` ib}c nqweyn}ebhnk nhm ehqweyn}ebhnk o`qqnd`q }cn} anpqàcnhd`(

]c`y`jby`+ n onhndò`h} }`no q``fehd jehnhaehd eq nw} }b kbq` }cèy ehz`q}by npme`ha` ej }cù jbapq qbk`ku bh wy`q`h}ehdn wybmpa} nhm"by q`yzea`( ]ceq ypk` d`h`ynkku nwwke`q `z`h ej }c` wybmpa} nhm"by q`yzea` cnq q}ybhd i`h`je}q nhm j`n}py`q(

Tcn} eq eowby}nh} }b ehz`q}byq eq }c` nieke}u bj }c` onhndò`h} }`no }b qw`nyc`nm acnhd` eh yà`w}ez` onyf`}q }b `nyh nopk}ewk` bj }c` byedehnk ehz`q}o`h}(

]c` Eowby}nha` bj K`nm`yqcew Anwnieke}e`q(((

Bj }c` }cy`` q}`tnymqcew ybk`q h}y`wy`h`pyenk+ k`nm`yqcew nhm onhnd`yenk }c` ~pnke}u bj k`nm`yqcew nieke}u ehmean}`q}b ehz`q}byq }c` wb}`h}enk }b dneh #by kbq`% jybo jehnhaehd nh h}`ywyeq`(

@z`yu `h}`ywyeq` h``mq e}q q}`tnymq abkkà}ez`ku }b cnz` wybjeae`hau eh qes d`h`ynk ny`nq bj qpilà} on}}`y `sw`y}eq`< k`dnk+jehnha`+ cponh y`qbpya`q+ ehjbyon}ebh }àchbkbdu+ bw`yn}ebhq nhm ipqeh`qq m`z`kbwo`h}( Ej nh ny`n bj `sw`y}eq` anhhb}i` jbphm te}ceh }c` `h}`ywyeq`+ e} opq} i` na~pey`m s}`yhnkku jybo q`yzea` wybzem`yq(

]c`q` qes qpilà} on}}`y ny`nq iàbo` }c` inqeq jby }c` Nmoeheq}yn}ez` jpha}ebhq nhm Bw`yn}ebhnk jpha}ebhq bj }c``h}`ywyeq`( ]c` Nmoeheq}yn}ez` jpha}ebhq ehakpm` k`dnk+ jehnha`+ cponh y`qbpya`q+ nhm ehjbyon}ebh }àchbkbdu6 }c`Bw`yn}ebhnk jpha}ebhq ehakpm` bw`yn}ebhq nhm ipqeh`qq m`z`kbwo`h}( Bw`yn}ebhq ehakpm`q wybapyò`h}+ onhpjna}pyehd#by e}q `~peznk`h} eh hbh/onhpjna}pyehd `h}`ywyeq`q%+ nhm meq}yeip}ebh6 ipqeh`qq m`z`kbwo`h} ehakpm`q onyf`}ehd+ qnk`q+nhm q`yzea`(

Nhu bj }c`q` jpha}ebhq anh i` ehqbpya`m by bp}qbpya`m m`w`hmehd pwbh }c` aby` abow`}`hae`q bj }c` `h}`ywyeq`+nk}cbpdc }c` pk}eon}` y`qwbhqeieke}u opq} yòneh eh/cbpq`( Nh nydpo`h} anh i` onm` }cn} }c` y`qwbhqeieke}u jbyonyf`}ehd opq} nktnuq i` eh/cbpq`+ iànpq` te}cbp} onyf`}ehd+ hb}cehd `kq` eh }c` `h}`ywyeq` on}}`yq( ]ceq eq tcu}c`y` eq n }edc} y`kn}ebhqcew i`}t``h q}yn}`du nhm onyf`}ehd(

]c`y` ny` }tb nmme}ebhnk jpha}ebhq }cn} opq} i` abhqem`y`m eh nhu bydnhe|n}ebhnk m`qedh }c` `h}`ywyeq` jpha}ebh nhm}c` y`q`nyac nhm m`z`kbwo`h} jpha}ebh+ jby n }b}nk bj èdc} jpha}ebhq naybqq qes qpilà} on}}`y ny`nq(

]c` h}`ywyeq` jpha}ebh #Nmoeheq}yn}ez % eq tc`y` na}eze}e`q qpac nq wknhhehd nhm wbkeau m`z`kbwo`h}+ w`yjbyonhaò`nqpyò`h}+ iynhm onhndò`h}+ jnaeke}e`q onhndò`h}+ y`kn}ebhq #aboophe}u+ dbz`yho`h} nhm ehz`q}by%+boipmqonh+ nhm eh}`yhnk npme} ny` cbpq`m( ]ceq jpha}ebh onu i` abhqbkemn}`m nq bh`+ by qwke} eh}b onhu( E} eq yny`kuankk`m }c` `h}`ywyeq` jpha}ebh+ qb }cn} }`yo eq wpy`ku m`qayew}ez`( Hb} nkk `h}`ywyeq`q w`yjbyo nkk na}eze}e`q(

]c` y`q`nyac nhm m`z`kbwo`h} jpha}ebh #Bw`yn}ebhnk% y`ke`q pwbh aybqq/jpha}ebhnk wny}eaewn}ebh jybo kq`tc`y` eh }c``h}`ywyeq`+ nhm eq c`nzeku wyblà}/bye`h}`m jbapqehd bh onyf`}+ wybmpa} nhm"by q`yzea`+ nhm ehjynq}ypa}py`/y`kn}`mna}eze}e`q( @owkbu``q qcbpkm i` yb}n}`m eh nhm bp} bj }c` y`q`nyac nhm m`z`kbwo`h} jpha}ebh qb }cn} n y`nk/tbykmbye`h}n}ebh eq nktnuq wy`q`h} te}ceh }c` jpha}ebh nq bwwbq`m }b wpy`ku n knibyn}byu hzeybho`h}(

]c` Dbz`yhnha` jpha}ebh+ tceac abhqeq}q bj }c` ibnym bj meyà}byq nhm }c` ace`j `sàp}ez` bj n abywbyn}ebh by }còòi`yq bj nh KKA+ cnq }c` pk}eon}` y`qwbhqeieke}u jby }c` h}`ywyeq`(

Tc`h jekkehd }c` èdc} jpha}ebhnk ybk`q+ je} eq `qq`h}enk( Jpha}ebhnk je} o`nhq }cn} n jpha}ebh onhnd`y cnq }c` nieke}u }bk`nm y`dnymk`qq bj wyeby `sw`ye`ha` eh }c` ny`n( Eh }ceq qa`hnyeb+ je} y`kn}`q }b màeqebh onfehd anwnieke}u nhm lpmdo`h}+ ehnmme}ebh }b jpha}ebhnk fhbtk`md` nhm }àcheank qfekk(

Nkk jpha}ebh onhnd`yq ny` k`nm`yq iu m`jnpk} iànpq` }cù cnz` }b k`nm w`bwk`6 }`no k`nm`yq bj qonkk`y dybpwq onu i`wy`q`h} te}ceh }c` jpha}ebh y`dnymk`qq bj tc`}c`y }cù cbkm n onhnd`yenk wbqe}ebh by hb}+ nhm onu nkqb `seq} aybqq/jpha}ebhnkku(

/ 5 / ]b ]BA


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Onhnd`yq opq} cnz` q}ybhd k`nm`yqcew anwnieke}e`q }b d`} y`qpk}q nace`z`m }cybpdc b}c`yq b}c`yteq` }cù iàbo` wpy`kuonhnd`yq bj wyba`qq( ]b i` `jjà}ez` k`nm`yq+ onhd`yq opq} i` w`bwk`/bye`h}`m }b i` `~peww`m jby }c` na}eze}e`q bjmeyà}ehd nhm qpwwby}ehd òwkbu``q( Pk}eon}`ku nkk òwkbu``q onhnd` wyba`qq }b qbo` `s}`h}(

Naabymehd }b y`q`nyac iu IKM+ eh}`y/w`yqbhnk qfekkq nq lpq} nq eowby}nh} nq wybj`qqebhnk qfekkq jby qpaa`qq eh ipqeh`qqiànpq` hb}cehd d`}q mbh` te}cbp} w`bwk`(

Kehf }b Phm`yq}nhmehd W`yqbhnk Q}uk`q

Nh `h}`ywyeq` anh è}c`y nwwbeh} k`nm`yq by nkkbt }cò }b ò`yd` jybo te}ceh( ]cbq` nwwbeh}`m ny` ehq}e}p}ebhnkk`nm`yq+ tcek` }cbq` }cn} m`z`kbw jybo te}ceh ny` ò`yd`h} k`nm`yq( @owkbu``q ny` nktnuq biq`yznh} nq }b cbtk`nm`yq ny` q`kà}`m(

Tc`h acbbqehd k`nm`yq+ bh` oeq}nf` }cn} nh noie}ebpq `h}`ywyeq` anh onf` eq q`kà}ehd `sw`ye`ha`m w`bwk` tcb cnz` }c`jpha}ebhnk je} ip} knaf }c` anwnieke}u #qfekk by tekk% }b i` }`no k`nm`yq( Qpac w`bwk` anhhb} tbyf }bd`}c`y te}c qpw`yebyq+w``yq+ nhm qpibymehn}`q eh n }`no jbyon}ebh( Eh onhu anq`q+ e} eq i`}}`y }b `hdnd` w`bwk` jybo te}ceh te}c tekkehdn}}e}pm`q nhm i`cnzebyq nhm }b }yneh }cò+ }cnh }b cey` }c` obq} `sw`ye`ha`m qpilà} on}}`y `sw`y}q jybo }c` bp}qem`tcb onu i` phwybz`h nq k`nm`yq(

Q`kà}ehd ehmezempnkq tcbq` znkp`q ny` eh keh` te}c }cbq` bj }c` `h}`ywyeq` eq aye}eank( Bj}`h nh `h}`ywyeq` tekk wkna` }bbopac òwcnqeq bh `sw`ye`ha`+ tcek` mbthwknuehd znkp`q( Ej n onhnd`y$q znkp`q mejj`y jybo }cbq` bj }c` `h}`ywyeq`+ }c`kef`kecbbm bj jnekpy` ehay`nq`q(

Dpemehd wyehaewk`q ny` q}nhmnymq bj i`cnzeby nhm meyà}ez`q qpwwby}ehd }c` znkp`q q}n}ò`h}q( Znkp`q q}n}ò`h}q nhmdpemehd wyehaewk`q wybzem` n jyno`tbyf jby màeqebh onfehd( @owkbu``q mb wnu n}}`h}ebh }b cbt t`kk n onhd`y$qmàeqebhq nkedh te}c }c` znkp`q nhm dpemehd wyehaewk`q+ nhm cbt abhqeq}`h}ku }cbq` màeqebhq ny` onm` bz`y }eo`(

K`nm`yqcew Q}uk`(((

Aye}eank }b anpqehd by y`qwbhmehd acnhd` eh }c` jp}py` eq }c` ò`yd`ha` bj h`t k`nm`yq( N cedc/w`yjbyonha` `h}`ywyeqanhhb} `seq} phk`qq onhnd`yq abh}ehpnkku m`z kbw h`t k`nm`yq }b anyyu }c` `h}`ywyeq` jbytnym( Nh `h}`ywyeq` anhhb}yòneh qpq}nehnik` phk`qq h`t k`nm`yq ò`yd` bz`y }eo`(

]c` hn}py` bj n k`nm`yqcew ybk` eq eowna}`m iu q}uk`( K`nm`yqcew q}uk` aboieh`q ib}c }ynhqjbyon}ebhnk nhm }ynhqna}ebhnknqwà}q( ]ynhqjbyon}ebhnk k`nm`yqcew eq nibp} `hna}ehd acnhd` è}c`y eh }c` `s}`yhnk `hzeybho`h} bj }c` `h}`ywyeq`+ byte}ceh }c` `h}`ywyeq`+ by ib}c( ]ynhqna}ebhnk k`nm`yqcew eq nibp} m`k`dn}ebh nhm òwbt`yo`h} }c` y`kn}ebhqcewi`}t``h }c` k`nm`y nhm }c` jbkkbt`y(

]ynhqjbyon}ebhnk k`nm`yqcew eq eh jjà} onayb k`nm`yqcew n} }c` `h}`ywyeq` k`z`k6 }ynhqna}ebhnk k`nm`yqcew eq oeaybk`nm`yqcew n} }c` ehmezempnk k`z`k(

]ynhqjbyon}ebhnk k`nm`yq ehjkp`ha` jbkkbt`yq }b acnhd` }cèy nqweyn}ebhq+ tnh}q nhm h``mq+ bilà}ez`q+ nhm dbnkq( Qcny`mk`nyhehd nhm znkp`q ò`yd` nq ehmezempnk `jjby}q iàbo` }`no/inq`m `jjby}q phm`y }ynhqjbyon}ebhnk k`nm`yq(

]yp` }ynhqjbyon}ebhnk k`nm`yq ipekm cedc/w`yjbyonha` }`noq+ tcb eh }pyh ipekm cedc/w`yjbyonha` `h}`ywyeq`q( Bz`y}eo` nh `h}`ywyeq` acnhd`q nq e}q `hzeybho`h} acnhd`q( Nq n abhq`~p`ha`+ k`nm`yq acnhd`+ nhm h`t k`nm`yq ò`yd`(

K`nm`yq nkqb acnhd` nq n abhq`~p`ha` bj dnehehd sw`ye`ha` eh qe}pn}ebhq te}c qwàejea }`noq bj w`bwk` k`nm`yqcewna}eze}u nktnuq y`qpk}q eh k`nyhehd(

]ynhqjbyon}ebhnk k`nm`yq pq` òwbt`y m }ynhqna}ebhnk }àche~p`q jjà}ez`ku }b c`kw ehay`nq` }cèy ehjkp`ha`(]ynhqna}ebhnk k`nm`yqcew eq nibp} }c` y`kn}ebhqcew i`}t``h }c` k`nm`y nhm }c` jbkkbt`y(

]c`y` ny` }tb }ynhqna}ebhnk k`nm`yqcew q}uk`q< wbt`y/a`h}yea #aboobh m`jehe}ebh% nhm òwbt`y`m(

/ >7 / ]b ]BA
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Wbt`y/a`h}yea }ynhqna}ebhnk k`nm`yq ny` aboonhm nhm abh}ybk bye`h}`m nhm tnh} y`qpk}q m`kez`y`m }b bym`y( @kò`h}q bjwbt`y ehakpm` y`tnym nhm wpheqco`h} ob}ezn}ehd iu j`ny+ ej hà`qqnyu( Wbt`y a`h}yea }ynhqna}ebhnk k`nm`yq kez` iu }c`ypk`q bj }c` `h}`ywyeq`+ ndy`` }b n y`tnym quq}ò te}c n jbkkbt`y+ nhm }c`h `swà} y`qpk}q( Y`tnymq ny` bjj`y`m tc`h }c`jbkkbt`y w`yjbyoq naabymehd }b }c` ndy`ò`h}+ nhm wpheqco`h}q ny` dez`h tc`h }c` jbkkbt`y mb`q hb}(

Wbt`y/a`h}yea }ynhqna}ebhnk k`nm`yq pq` onhndò`h} iu sa`w}ebh }àche~p`q eh}`yz`hehd tc`h qbo`}cehd eq tybhd+

ip} b}c`yteq` k`nzehd }c` jbkkbt`y nkbh`( Wbt`y/a h}yea }ynhqna}ebhnk k`nm`yqcew eq n oeke}nyeq}ea k`nm`yqcew q}uk`(

Iu abh}ynq}+ òwbt`y`m }ynhqna}ebhnk k`nm`yq ipekm h`t k`nm`yq }cybpdc n wyba`qq bj oedyn}ehd jybo n meyà}ez` q}uk` }bn qpwwby}ez` q}uk` bj k`nm`yqcew mpyehd `nac }ynhqna}ebh(

]c` k`nm`y nmnw}q }cèy q}uk` inq`m pwbh }cèy nqq`qqo`h} bj }c` y`nmeh`qq bj }c` jbkkbt`y jby }c` na}eze}u #}c`}ynhqna}ebh% eh }`yoq bj }cèy abooe}o`h} nhm abow`}`ha`(

]c` bilà}ez` eq }b oedyn}` }c` y`kn}ebhqcew jybo n aboonhm nhm abh}ybk q}uk` }b nh òwbt`y`m q}uk` nq ~peafku nq }c`jbkkbt`y eq anwnik` bj nqqpoehd }c` y`qwbhqeieke}u(

]c` }ynhqna}ebhnk k`nm`yqcew wyba`qq m`jeh`q n z`yu `jjà}ez` k`nm`yqcew m`z`kbwo`h} wybdy`qqebh zen n q`ye`q bjeh}`yna}ebhq te}ceh }c` y`kn}ebhqcew i`}t``h n k`nm`y nhm jbkkbt`y nq }c` }ynhqna}ebh wyba``mq(

]c`q` }àche~p`q t`y` byedehnkku m`z`kbw`m iu Wnpk C`yqù nhm F`h Iknhacnym+ nhm ny` meqapqq`m eh }c` ibbfK`nm`yqcew nhm }c` Bh`/Oehp}` Onhnd`y iu F`hh`}c C( Iknhacnym+ Wn}yeaen \ednyoe+ nhm My`n \ednyoe( Iknhacnym pq`q}c` }`yo qe}pn}ebhnk k`nm`yqcew }b m`qayei` }c` }àche~p`q(

]c` obm`k i`dehq te}c wneyehd n k`nm`y nhm n jbkkbt`y eh n y`kn}ebhqcew }cn} wybdy`qq`q }b n wbeh} tc`y` }c` k`nm`y anhm`k`dn}` h}ey` }nqfq }b }c` jbkkbt`y nhm jjà}ez`ku owbt`y }c` jbkkbt`y }b iàbo` n k`nm`y c`ha` }c` h}`ywyeq` anhdybt(

Nh h}`ywyeq` anhhb} i` qpq}nehnik` phk`qq e} anh m`z`kbw h`t k`nm`yq jybo d`h`yn}ebh }b d`h`yn}ebh(

W`bwk` nhm Wyba`qq

]c` wcynq` qbj} onhndò`h} qfekkq y`j`yq }b meqaewkeh`q jby cnhmkehd w`bwk`+ tcek` cnym onhndò`h} qfekkq y`j`yq }bmeqaewkeh`q jby `sàp}ehd wyba`qq`q( Cbt`z`y+ }c` nwwkean}ebh bj qbj} onhndò`h} qfekkq mb`q hb} hà`qqnyeku o`nhonhndehd w`bwk`+ iànpq` eh y`nke}u w`bwk` onhnd` }còq`kz`q( Onhnd`yq nq k`nm`yq h``m }b m`z`kbw nh `hzeybho`h} }bob}ezn}` jbkkbt`yq tcb anh acbbq` }b iàbo` nh eh}`dynk wny} bj }c` `h}`ywyeq`$q q}yn}`du+ by hb}(

]c` meqaewkeh` bj qbj} onhndò`h} qfekkq eq nibp} phm`yq}nhmehd cbt w`bwk` i`cnz nhm aboophean}ehd }b }cò`jjà}ez`ku tcn} ehqwey`q nhm tcn} ob}ezn}`q }cò(

]c` meqaewkeh` bj cnym onhndò`h} qfekkq eq nibp} bw`yn}ehd `jjeae`h}ku( ]c` }cy`` dbz yhnha` meqaewkeh`q #q}`tnymqcew+q}yn}`du nhm q}ypa}py`% jpy}c`y abow`}e}ez`+ abkknibyn}ez` nhm abbw`yn}ez` nmznh}nd` iu `hnikehd `h}`ywyeq`q }b`jjà}ez`ku k`z`ynd` ib}c w`bwk` nhm wyba`qq anwnieke}e`q(

Jby snowk`+ aby` abow`}`hae`q #}cehdq mbh` t`kk% y`qpk} jybo jjà}ez` w`bwk` sàp}ehd jjeae`h} wyba`qq`q( Ej qcny`mk`nyhehd y`qpk}q+ nq wybob}`m }cybpdc }c` dbz`yhnha` meqaewkeh`q+ aby` abow`}`ha`q anh bhku eowybz`+ tceac o`nhq }cn}abow`}e}ez` nmznh}nd` eq q}y`hd}c`h`m nhm }c` bwwby}phe}e`q jby qpq}nehnieke}u eowybz`(

Tc`h w`bwk` nhm wyba`qq ny` }edc}ku abpwk`m+ abow`}e}ez` nmznh}nd` y`qpk}q(

Kehf }b ]edc}ku Abpwk`m Abhq}e}p`hae`q

Znkp`q< Tnkfehd }c` ]nkf(((

Znkp`q jbyo }c` inqeq jby `h}`ywyeq` i`cnzeby iànpq` }cù jbyo n quq}ò bj onhndò`h}$q i`ke`jq }cn} q`} `swà}n}ebhqjby ehmezempnk i`cnzeby+ `q}nikeqc wbqe}ebhq nhm wyebye}e`q+ nhm wybzem` n jyno`tbyf jby màeqebh onfehd(

/ >> / ]b ]BA


15/36


Znkp`q q}n}ò`h}q h``m }b i` t`kk aynj}`m nhm phnoiedpbpq }b i` pq`jpk(

]c` hb}ebh bj onhnd`yq tnkfehd }c` }nkf ibbq}q nh `h}`ywyeq`q nmznh}nd` ej }c` tbymq ny` w`yaèz`m nq d`hpeh`+iànpq` òwkbu``q q`hq` }cn} onhndò`h} y`nkku eq kezehd }c` znkp`q nhm tekk i` ob}ezn}`m naabymehdku+ nqqpoehd }cn}}cù ndy`` te}c }c` znkp`q( Ej }cù mbh$}+ w`ycnwq }cù qcbpkm q``f òwkbuo`h} `kq`tc`y`(

]c` òwkbu``q onu meqwknu qpw`yjeaenk nkk`denha` }b }c` }c` znkp`q ej }cù mbh$} i`ke`z` }cò( Jby qedhejeanh} nmznh}nd`}b ò`yd`+ nhm jby òwkbu``q }b i` tekkehd }b `sàp}` wyba`qq`q `jjeae`h}ku nhm `jjà}ez`ku+ `hna}`m znkp`q opq} on}acq}n}`m znkp`q( E}$q hb} lpq} }c` tbymq+ ip} cbt }c` tbymq ny` qnem nhm naabownhuehd m``mq }cn} ny` eowby}nh}(

]c` je} i`}t``h tcn} eq qnem nhm tcn} eq na}pnkku mbh` opq} i` niqbkp}`( @z`yubh` eh }c` `h}`ywyeq` `qwàenkkuonhndò`h} qcbpkm i` tnkfehd }c` }nkf+ e(`(+ aboophean}ehd }c` znkp`q nhm i`cnzehd te}ceh }cò(

@owkbu``q anh cnz` qedhejeanh} wbqe}ez` eowna} tc`h i`cnzehd naabymehd }b }c` q}n}`m znkp`q bj nh `h}`ywyeq`(

Ej onhndò`h} mb`q hb} kez` }c` znkp`q+ knaf bj }ypq} nhm auheaeqo q`} eh iànpq` bj w`yaèz`m #nhm c`ha` y`nk% mbpik`q}nhmnymq( Qpac q}nhmnymq anh iy`nf mbth k`nmehd }b oeqabhmpa} ehakpmehd abhjkea}q bj eh}`y`q} nhm `z`h }c` yeqf bjjynpm nhm òi`||kò`h}(

Nh ekkpq}yn}ez` q`} bj znkp`q ehakpm`q q}n}ò`h}q jby }c` `h}`ywyeq` e}q`kj+ e}q abhq}e}p`hae`q+ nhm }c` `hzeybho`h}nkàbquq}ò te}ceh tceac }c` `h}`ywyeq` bw`yn}`q1 / ]b ]BA


17/36


]b ipekm }c` cedc w`yjbyonha` h}`ywyeq` }cn} nace`z`q w`yjbyonha` sa`kk`ha` + }c` Dbz`yhnha jpha}ebh opq} keq}`h }bnhm y`qwbhm }b cedc w`yjbyonha` }`noq nhm zea` z`yqn(

]c` cedc w`yjbyonha` `h}`ywyeq` eq ipek} bh qcny`m znkp`q i`}t``h }c` y`jkà}`m eh `h}`ywyeq` nhm qbae`}nk apk}py` naybqq}c` d`bdynwcea onyf`}q eh tceac }c` `h}`ywyeq` mb`q ipqeh`qq nhm cnq n wy`q`ha`(

]c` cedc w`yjbyonha` h}`ywyeq`53> }b >534(

Onkabko Inkmyed` mòbhq}yn}`m qpw`yeby onhnd`yenk qfekkq }cn} c`kw`m ehay`nq` dbz`yho`h} `jjeae`hau jby }c` kbhd/}`yo(]c` ntnym e}q`kj wybzem`q nh eha`h}ez` jby `h}`ywyeq`q eh }c` Phe}`m Q}n}`q }b jbapq bh eqqp`q wybob}ehd eowybzò`h}q eh~pnke}u nhm wybmpa}eze}u(

Qwàejea dpem`keh`q nhm tehhehd `snowk`q ny` pq`jpk nq n ybnmonw jby nkk `h}`ywyeq`q }b jbkkbt( ]bmnu+ n y`ze`t bj }cÒnkabko Inkmyed` aye}`yen iu `z`yu onhnd`y eq `qq`h}enk jby `jjà}ez` wyba`qq m`qedh+ nq t`kk nq fhbtehd tcn} b}c`yq ny`mbehd(

Kehf }b }c` Inkmyed` Hn}ebhnk pnke}u Wybdyno nhm keq} bj tehh`yq

Onhu `h}`ywyeq`q cnz` mòbhq}yn}`m hb}`tby}cu `zem`ha` bj cedc w`yjbyonha` tc`}c`y Inkmyed` tehh`yq by hb}(

/ >= / ]b ]BA
http://www.quality.nist.gov/http://www.quality.nist.gov/


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]c` jbkkbtehd `h}`ywyeq`q anh i` acnyna}`ye|`m iu+ ip} hb} keoe}`m }b+ qwàejea nqwà}q bj cedc w`yjbyonha` }cn} cnz`dez`h }cò qpq}nehnik` nmznh}nd`4 / ]b ]BA


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Acnyna}`yeq}eaq nhm anwnieke}e`q }cn} `owkbu``q qcbpkm iyehd }b nh `h}`ywyeq` / ]b ]BA


25/36


NWW@HMES

Inafdybphm bh IKM nhm }c` np}cby

Jybo Zeqebh ]b Znkp`< Ipekmehd Qpq}nehnik` Nmznh}nd` eq n abowbh`h} bj }cèh}`kkà}pnk anwe}nk bj ]c` Ipqeh`qq K`nm`yqcew M`z`kbwo`h} Abywbyn}ebh #IKM%+tceac eq inq`m pwbh }c` wybj`qqebhnk sw`ye`ha` bj e}q wy`qem`h}< Hed`k N(K(Iybbfq(

]c` on}`yenk abh}neh`m c`yèh cnq i``h m`z`kbw`m jybo y`q`nyac nhm qòehnyq}cn} IKM cnq abhmpa}`m bz`y q`z`ynk u`nyq(

IKM eq n wybj`qqebhnk q`yzea`q jeyo }cn} nqqeq}q e}q ake`h}q nace`z` w`yjbyonha``sa`kk`ha` iu ipekmehd qpq}nehnik` nmznh}nd` jybo zeqebh }b znkp` (

ttt(ikmqbkp}ebhq(abo

IKM bjj`yq abhqpk}ehd+ abnacehd nhm o`h}byehd+ nhm }ynehehd }b `h}y`wy`h pyq+kej`q}uk` ipqeh`qq h}`ywyeq` bth`yq+ sàp}ez`q+ nhm onhnd`yq+ nhm }c`

`h}`ywyeq`q }cù q`yz`(

Hed`k N(K( Iybbfq eq nh `h}y`wy`h`py+ ipqeh`qq `h}`ywyeq` bth`y+ onhndò`h}abhqpk}nh}+ nhm ob}ezn}ebhnk qw`nf`y(

ttt(hed`knkiybbfq(abo

C` bi}neh`m ceq sw`ye`ha` nq n wny}h`y n} }tb onlby eh}`yhn}ebhnk abhqpk}ehdjeyoq+ nq n oòi`y bj }c` q`heby onhndò`h} }`no bj n Jby}ph` >77 abownhu+ nqn y`}nek nhm jbbm q`yzea` h}`ywyeq` bth`y+ nq n t`kkh`qq h}`ywyeq` bth`y+ nq nynmeb qcbt cbq}+ nq n ibnym oòi`y+ nhm nq n aboophe}u q`yzea` zbkph}``y(

C` cnq kbank/}b/dkbink sw`ye`ha` #Hby}c nhm Kn}eh No`yean+ @pybw`+ nhm Nqen/Wnaejea% jybo q}ny}/pw h}y`wy`h`py }b Jby}ph` >77 sàp}ez`(

IKM$q eh}`kkà}pnk anwe}nk

IKM$q eh}`kkà}pnk anwe}nk abhqeq}q bj n q`} bj obm`kq+ o`}cbmbkbde`q+ nhm }bbkq}cn} cnz` i``h m`z`kbw`m jby q}yn}`dea onhndò`h} abhqpk}ehd+ `sàp}ezàbnacehd nhm o`h}byehd+ nhm wybj`qqebhnk }ynehehd `hdndò`h}q(

Bh` bj IKM$q wyehaewnk eh}`kkà}pnk anwe}nk bjj`yehdq }b e}q ake`h}q eq wnafnd`m nq@h}`ywyeqcew IKM`y+ n q`} bj anwnieke}e`q }cn} wybzem` n quq}òn}e|`mnwwybnac }b ipekmehd h}`ywyeq`q }cybpdc obm`kq+ o`}cbmbkbde`q+ nhm }bbkq(

@h}`ywyeqcew IKM`y wybzem`q on}`yenk }cn} m`z`kbwq ib}c }c` jpha}ebhnkfhbtk`md` nhm }àcheank qfekkq y`~pey`m }b `q}nikeqc }c` oehmq`} nhm na}ebhe}òq jby h}y`wy`h`pyq+ k`nm`yq+ nhm onhnd`yq(

Nk}cbpdc }ceq on}`yenk cnq i``h pq`m s}`hqez`ku bh ake`h} hdndò`h}q+ e} mb`qhb} ehakpm` nhu ake`h} wybwye`}nyu ehjbyon}ebh by on}`yenkq(

Iànpq` bj }c` q}yn}`dea nhm q`hqe}ez` hn}py` bj e}q tbyf te}c ake`h}q+ IKM mb`q

hb} meqapqq by o`h}ebh ake`h} hno`q(

]c` on}`yenk abh}neh`m c`yèh eq s}yna}`m jybo @h}`ywyeqcew IKM`y

]c` A`h}`y jby Ipqeh`qq K`nm`yqcew M`z`kbwo`h}

IKM bjj`yq wybj`qqebhnk }ynehehd }b ib}c ake`h}q nhm hbh/ake`h}q }cybpdc ]cÀ`h}`y jby Ipqeh`qq K`nm`yqcew M`z`kbwo`h}(

ttt(ikmqbkp}ebhq(abo"aikm

Wybj`qqebhnk }ynehehd ehakpm`q ib}c wyezn}` nhm wpikea qòehnyq+ ibbfq+ npmebibbfq+ nhm `qòehnyq(

@qòehnyq ny` wnafnd`m q`}q bj e}òq ehakpmehd zem`bq+ npmebq+ ibbfq+wy`q`h}n}ebhq+ nhm y`j`y`ha on}`yenkq(

@qòehnyq ny` abhm`hq`m z`yqebhq bj ib}c wyezn}` nhm wpikea qòehnyq onm`nzneknik jby meq}yeip}ebh }b }c` wpikea zen }c` eh}`yh`}(

@qòehnyq wybzem` nh eh}ybmpa}ebh }b n qpilà} }cn} eq jpy}c`y swkby`m eh kez`wyezn}` by wpikea qòehnyq(

/ 99 /
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NWW@HMES

@h}`ywyeqcew

@h}`ywyeqcew + }c` ny} nhm qae`ha` bj h}y`wy`h`pyqcew+ k`nm`yqcew+ nhmonhndò`h}+ eq }c` wyba`qq bj ipekmehd h}`ywyeq`q te}c qpq}nehnik` nmznh}nd`(

ttt(`h}`ywyeqcew(abo

Qpq}nehnik` o`nhq ièhd nik` }b abh}ehp` bz`y }eo`+ e}c`y iu m`z`kbwehd+`hcnhaehd+ by oneh}nehehd }c` apyy`h} q}n}`+ by iu acnhdehd e}(

Nmznh}nd` o`nhq jnzbynik`+ qpw`yeby+ nhm i`h`jeaenk(

]c`qpq}nehnik` h}`ywyeq` òwkbuq }cy`` aye}`yen jby qpq}nehnieke}u eh nkk màeqebhonfehd / ny` ib}c }c` oehmq`} nhm }c` eh}`hm`m na}ebhq y`qwbhqeik`

From Vision To Value - Building Sustainable Advantage

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