SlideShare une entreprise Scribd logo
1  sur  17
What does Risk stand for? ,[object Object],[object Object]
Risk Management defined: ,[object Object],[object Object],[object Object],[object Object],[object Object]
Risk Management Strategies ,[object Object],[object Object],[object Object],[object Object]
Major source of uncertainty ,[object Object],Commodity Prices Labour  Costs Interest  Rates Currency $ Taxes Consumer  Preferences Technology Economic  Policies Political  Conditions Weather
Business :  A series of activities running over a time horizon ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
H ow do uncertainties effect businesses? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Where do uncertainties manifest ultimately? ,[object Object],[object Object]
Earnings of a bank: Deposits Borrowings interest expenses Loans Investment Interest income earnings
Earnings – value of a firm Earnings taxes dividends Reserves & Surplus Balance Sheet
Risk Management: Objectives ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Stable Earnings: ,[object Object],[object Object],[object Object],[object Object],[object Object]
Un-interrupted Operations ,[object Object],[object Object],[object Object],[object Object]
Safety of capital funds ,[object Object],[object Object],Assume that bank suffers  Rupee 4.5 lakh in loan losses. Which means 4.74% of loan  losses equals about 45% of  equity wipe out. Cash  5 Loans  95 Total:  100 Equity  10 Deposits  90 Total:  100 Assets (in lakhs rupees) Liabilities (in lakhs rupees)
Net worth of a bank ,[object Object],[object Object],[object Object],[object Object],[object Object]
Why Risk Management? ,[object Object],[object Object],[object Object]
Management of Financial Risks: ,[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object]

Contenu connexe

Tendances

CMA Exam Part 2: Overview of 2015 Format
CMA Exam Part 2: Overview of 2015 FormatCMA Exam Part 2: Overview of 2015 Format
CMA Exam Part 2: Overview of 2015 FormatI Pass The CMA Exam
 
Bec doms a ppt on overview of financial management07
Bec doms a ppt on overview of financial management07Bec doms a ppt on overview of financial management07
Bec doms a ppt on overview of financial management07Babasab Patil
 
Business Risk Vs. Financial Risk
Business Risk Vs. Financial RiskBusiness Risk Vs. Financial Risk
Business Risk Vs. Financial Risknutritiousfan9184
 
Financial Factors, Qualitative Factors and Investment Practices
Financial Factors, Qualitative Factors and Investment PracticesFinancial Factors, Qualitative Factors and Investment Practices
Financial Factors, Qualitative Factors and Investment PracticesDipesh Pandey
 
Business Risks
Business RisksBusiness Risks
Business RisksNCVPS
 
Research Philosophy - International Money Matters
Research Philosophy - International Money MattersResearch Philosophy - International Money Matters
Research Philosophy - International Money MattersIMMPL
 
CFA Next Step Client Presentation
CFA Next Step Client PresentationCFA Next Step Client Presentation
CFA Next Step Client Presentationclpatience
 
Business Value Enhancement – Take Your Business to the Next Level
Business Value Enhancement – Take Your Business to the Next LevelBusiness Value Enhancement – Take Your Business to the Next Level
Business Value Enhancement – Take Your Business to the Next LevelCBIZ, Inc.
 
How to optimize risk in entrepreneurship
How to optimize risk in entrepreneurshipHow to optimize risk in entrepreneurship
How to optimize risk in entrepreneurshipventurecare2911
 
9.1 boards of directors.pptx
9.1 boards of directors.pptx9.1 boards of directors.pptx
9.1 boards of directors.pptxRick Rasmussen
 
Valuation & Challenges Micro Finance Organisations
Valuation & Challenges Micro Finance OrganisationsValuation & Challenges Micro Finance Organisations
Valuation & Challenges Micro Finance OrganisationsTaco Lens
 
Enterprise Risk Management
Enterprise Risk Management Enterprise Risk Management
Enterprise Risk Management Sophia Wright
 
Mutual fund research 1 attempt
Mutual fund research 1 attemptMutual fund research 1 attempt
Mutual fund research 1 attemptDung Tran (D.T.)
 

Tendances (20)

CMA Exam Part 2: Overview of 2015 Format
CMA Exam Part 2: Overview of 2015 FormatCMA Exam Part 2: Overview of 2015 Format
CMA Exam Part 2: Overview of 2015 Format
 
Bec doms a ppt on overview of financial management07
Bec doms a ppt on overview of financial management07Bec doms a ppt on overview of financial management07
Bec doms a ppt on overview of financial management07
 
Business Risk Vs. Financial Risk
Business Risk Vs. Financial RiskBusiness Risk Vs. Financial Risk
Business Risk Vs. Financial Risk
 
Independent Risk | Finance
Independent Risk | FinanceIndependent Risk | Finance
Independent Risk | Finance
 
Financial Factors, Qualitative Factors and Investment Practices
Financial Factors, Qualitative Factors and Investment PracticesFinancial Factors, Qualitative Factors and Investment Practices
Financial Factors, Qualitative Factors and Investment Practices
 
Corporate Optimization
Corporate OptimizationCorporate Optimization
Corporate Optimization
 
Business Risks
Business RisksBusiness Risks
Business Risks
 
Rmd 2003
Rmd 2003Rmd 2003
Rmd 2003
 
Research Philosophy - International Money Matters
Research Philosophy - International Money MattersResearch Philosophy - International Money Matters
Research Philosophy - International Money Matters
 
CFA Next Step Client Presentation
CFA Next Step Client PresentationCFA Next Step Client Presentation
CFA Next Step Client Presentation
 
Business Value Enhancement – Take Your Business to the Next Level
Business Value Enhancement – Take Your Business to the Next LevelBusiness Value Enhancement – Take Your Business to the Next Level
Business Value Enhancement – Take Your Business to the Next Level
 
Jamal Path to Investing
Jamal Path to InvestingJamal Path to Investing
Jamal Path to Investing
 
Risk transfer strategy.
Risk transfer strategy.Risk transfer strategy.
Risk transfer strategy.
 
How to optimize risk in entrepreneurship
How to optimize risk in entrepreneurshipHow to optimize risk in entrepreneurship
How to optimize risk in entrepreneurship
 
9.1 boards of directors.pptx
9.1 boards of directors.pptx9.1 boards of directors.pptx
9.1 boards of directors.pptx
 
Valuation & Challenges Micro Finance Organisations
Valuation & Challenges Micro Finance OrganisationsValuation & Challenges Micro Finance Organisations
Valuation & Challenges Micro Finance Organisations
 
Enterprise Risk Management
Enterprise Risk Management Enterprise Risk Management
Enterprise Risk Management
 
Risk analysis and risk mgt.
Risk analysis and risk mgt.Risk analysis and risk mgt.
Risk analysis and risk mgt.
 
Risk types
Risk  typesRisk  types
Risk types
 
Mutual fund research 1 attempt
Mutual fund research 1 attemptMutual fund research 1 attempt
Mutual fund research 1 attempt
 

Similaire à RM strategies for managing uncertainties and adverse outcomes in business

Managing Reputational Risk
Managing Reputational RiskManaging Reputational Risk
Managing Reputational RiskEneni Oduwole
 
BFSM Unit - III .pptx
BFSM Unit - III .pptxBFSM Unit - III .pptx
BFSM Unit - III .pptxRaj3naveen6
 
Credit Risk Management Presentation
Credit Risk Management PresentationCredit Risk Management Presentation
Credit Risk Management PresentationSumant Palwankar
 
Integrating The Output From Risk Workshops Into The Business Planning Process
Integrating The Output From Risk Workshops Into The Business Planning ProcessIntegrating The Output From Risk Workshops Into The Business Planning Process
Integrating The Output From Risk Workshops Into The Business Planning ProcessEneni Oduwole
 
Presentation 22.pptx
Presentation 22.pptxPresentation 22.pptx
Presentation 22.pptxAroOjGull
 
Important Tips for Managing Financial Risk in a New Business​
Important Tips for Managing Financial Risk in a New Business​Important Tips for Managing Financial Risk in a New Business​
Important Tips for Managing Financial Risk in a New Business​CreditQ1
 
Operational Risk Management & Strategic Planning
Operational Risk Management & Strategic PlanningOperational Risk Management & Strategic Planning
Operational Risk Management & Strategic PlanningEneni Oduwole
 
Managing Reputational Risk
Managing Reputational RiskManaging Reputational Risk
Managing Reputational RiskEneni Oduwole
 
Introduction to Risk Management and Sources of Risk.pptx
Introduction to Risk Management and Sources of Risk.pptxIntroduction to Risk Management and Sources of Risk.pptx
Introduction to Risk Management and Sources of Risk.pptxmanjujayakumar2
 
Financial management unit 1
Financial management unit  1Financial management unit  1
Financial management unit 1Ratika Chawla
 
Financial management unit 1
Financial management unit  1Financial management unit  1
Financial management unit 1Ratika Chawla
 
FX Risk Management – Best Practice Standards for Good Corporate Governance
FX Risk Management – Best Practice Standards for Good Corporate GovernanceFX Risk Management – Best Practice Standards for Good Corporate Governance
FX Risk Management – Best Practice Standards for Good Corporate GovernanceExpoco
 
Gaining Greater Control Over Commodity Planning & Procurement for Manufacturers
Gaining Greater Control Over Commodity Planning & Procurement for ManufacturersGaining Greater Control Over Commodity Planning & Procurement for Manufacturers
Gaining Greater Control Over Commodity Planning & Procurement for ManufacturersEka Software Solutions
 
Risk Management Essentials for Bankers
Risk Management Essentials for BankersRisk Management Essentials for Bankers
Risk Management Essentials for BankersDavid Vu
 
Introduction to Portfolio Management
Introduction to Portfolio ManagementIntroduction to Portfolio Management
Introduction to Portfolio ManagementKhader Shaik
 
Bank Management, leadershi, and administration .ppt
Bank Management, leadershi, and administration .pptBank Management, leadershi, and administration .ppt
Bank Management, leadershi, and administration .pptetebarkhmichale
 
Banking Leadership in 21 Centuries ppt.ppt
Banking Leadership in 21 Centuries ppt.pptBanking Leadership in 21 Centuries ppt.ppt
Banking Leadership in 21 Centuries ppt.pptetebarkhmichale
 

Similaire à RM strategies for managing uncertainties and adverse outcomes in business (20)

Managing Reputational Risk
Managing Reputational RiskManaging Reputational Risk
Managing Reputational Risk
 
BFSM Unit - III .pptx
BFSM Unit - III .pptxBFSM Unit - III .pptx
BFSM Unit - III .pptx
 
Credit Risk Management Presentation
Credit Risk Management PresentationCredit Risk Management Presentation
Credit Risk Management Presentation
 
Integrating The Output From Risk Workshops Into The Business Planning Process
Integrating The Output From Risk Workshops Into The Business Planning ProcessIntegrating The Output From Risk Workshops Into The Business Planning Process
Integrating The Output From Risk Workshops Into The Business Planning Process
 
Presentation 22.pptx
Presentation 22.pptxPresentation 22.pptx
Presentation 22.pptx
 
Important Tips for Managing Financial Risk in a New Business​
Important Tips for Managing Financial Risk in a New Business​Important Tips for Managing Financial Risk in a New Business​
Important Tips for Managing Financial Risk in a New Business​
 
Risk Management Profile
Risk Management ProfileRisk Management Profile
Risk Management Profile
 
Operational Risk Management & Strategic Planning
Operational Risk Management & Strategic PlanningOperational Risk Management & Strategic Planning
Operational Risk Management & Strategic Planning
 
Managing Reputational Risk
Managing Reputational RiskManaging Reputational Risk
Managing Reputational Risk
 
Introduction to Risk Management and Sources of Risk.pptx
Introduction to Risk Management and Sources of Risk.pptxIntroduction to Risk Management and Sources of Risk.pptx
Introduction to Risk Management and Sources of Risk.pptx
 
Financial management unit 1
Financial management unit  1Financial management unit  1
Financial management unit 1
 
Financial management unit 1
Financial management unit  1Financial management unit  1
Financial management unit 1
 
FX Risk Management – Best Practice Standards for Good Corporate Governance
FX Risk Management – Best Practice Standards for Good Corporate GovernanceFX Risk Management – Best Practice Standards for Good Corporate Governance
FX Risk Management – Best Practice Standards for Good Corporate Governance
 
广告媒介.ppt
广告媒介.ppt广告媒介.ppt
广告媒介.ppt
 
Banking Sector
Banking SectorBanking Sector
Banking Sector
 
Gaining Greater Control Over Commodity Planning & Procurement for Manufacturers
Gaining Greater Control Over Commodity Planning & Procurement for ManufacturersGaining Greater Control Over Commodity Planning & Procurement for Manufacturers
Gaining Greater Control Over Commodity Planning & Procurement for Manufacturers
 
Risk Management Essentials for Bankers
Risk Management Essentials for BankersRisk Management Essentials for Bankers
Risk Management Essentials for Bankers
 
Introduction to Portfolio Management
Introduction to Portfolio ManagementIntroduction to Portfolio Management
Introduction to Portfolio Management
 
Bank Management, leadershi, and administration .ppt
Bank Management, leadershi, and administration .pptBank Management, leadershi, and administration .ppt
Bank Management, leadershi, and administration .ppt
 
Banking Leadership in 21 Centuries ppt.ppt
Banking Leadership in 21 Centuries ppt.pptBanking Leadership in 21 Centuries ppt.ppt
Banking Leadership in 21 Centuries ppt.ppt
 

Dernier

Call US-88OO1O2216 Call Girls In Mahipalpur Female Escort Service
Call US-88OO1O2216 Call Girls In Mahipalpur Female Escort ServiceCall US-88OO1O2216 Call Girls In Mahipalpur Female Escort Service
Call US-88OO1O2216 Call Girls In Mahipalpur Female Escort Servicecallgirls2057
 
Case study on tata clothing brand zudio in detail
Case study on tata clothing brand zudio in detailCase study on tata clothing brand zudio in detail
Case study on tata clothing brand zudio in detailAriel592675
 
(Best) ENJOY Call Girls in Faridabad Ex | 8377087607
(Best) ENJOY Call Girls in Faridabad Ex | 8377087607(Best) ENJOY Call Girls in Faridabad Ex | 8377087607
(Best) ENJOY Call Girls in Faridabad Ex | 8377087607dollysharma2066
 
Independent Call Girls Andheri Nightlaila 9967584737
Independent Call Girls Andheri Nightlaila 9967584737Independent Call Girls Andheri Nightlaila 9967584737
Independent Call Girls Andheri Nightlaila 9967584737Riya Pathan
 
8447779800, Low rate Call girls in Uttam Nagar Delhi NCR
8447779800, Low rate Call girls in Uttam Nagar Delhi NCR8447779800, Low rate Call girls in Uttam Nagar Delhi NCR
8447779800, Low rate Call girls in Uttam Nagar Delhi NCRashishs7044
 
8447779800, Low rate Call girls in Shivaji Enclave Delhi NCR
8447779800, Low rate Call girls in Shivaji Enclave Delhi NCR8447779800, Low rate Call girls in Shivaji Enclave Delhi NCR
8447779800, Low rate Call girls in Shivaji Enclave Delhi NCRashishs7044
 
Marketplace and Quality Assurance Presentation - Vincent Chirchir
Marketplace and Quality Assurance Presentation - Vincent ChirchirMarketplace and Quality Assurance Presentation - Vincent Chirchir
Marketplace and Quality Assurance Presentation - Vincent Chirchirictsugar
 
2024 Numerator Consumer Study of Cannabis Usage
2024 Numerator Consumer Study of Cannabis Usage2024 Numerator Consumer Study of Cannabis Usage
2024 Numerator Consumer Study of Cannabis UsageNeil Kimberley
 
IoT Insurance Observatory: summary 2024
IoT Insurance Observatory:  summary 2024IoT Insurance Observatory:  summary 2024
IoT Insurance Observatory: summary 2024Matteo Carbone
 
Ms Motilal Padampat Sugar Mills vs. State of Uttar Pradesh & Ors. - A Milesto...
Ms Motilal Padampat Sugar Mills vs. State of Uttar Pradesh & Ors. - A Milesto...Ms Motilal Padampat Sugar Mills vs. State of Uttar Pradesh & Ors. - A Milesto...
Ms Motilal Padampat Sugar Mills vs. State of Uttar Pradesh & Ors. - A Milesto...ShrutiBose4
 
NewBase 19 April 2024 Energy News issue - 1717 by Khaled Al Awadi.pdf
NewBase  19 April  2024  Energy News issue - 1717 by Khaled Al Awadi.pdfNewBase  19 April  2024  Energy News issue - 1717 by Khaled Al Awadi.pdf
NewBase 19 April 2024 Energy News issue - 1717 by Khaled Al Awadi.pdfKhaled Al Awadi
 
Digital Transformation in the PLM domain - distrib.pdf
Digital Transformation in the PLM domain - distrib.pdfDigital Transformation in the PLM domain - distrib.pdf
Digital Transformation in the PLM domain - distrib.pdfJos Voskuil
 
Pitch Deck Teardown: Geodesic.Life's $500k Pre-seed deck
Pitch Deck Teardown: Geodesic.Life's $500k Pre-seed deckPitch Deck Teardown: Geodesic.Life's $500k Pre-seed deck
Pitch Deck Teardown: Geodesic.Life's $500k Pre-seed deckHajeJanKamps
 
Call Us 📲8800102216📞 Call Girls In DLF City Gurgaon
Call Us 📲8800102216📞 Call Girls In DLF City GurgaonCall Us 📲8800102216📞 Call Girls In DLF City Gurgaon
Call Us 📲8800102216📞 Call Girls In DLF City Gurgaoncallgirls2057
 
Investment in The Coconut Industry by Nancy Cheruiyot
Investment in The Coconut Industry by Nancy CheruiyotInvestment in The Coconut Industry by Nancy Cheruiyot
Investment in The Coconut Industry by Nancy Cheruiyotictsugar
 
Kenya’s Coconut Value Chain by Gatsby Africa
Kenya’s Coconut Value Chain by Gatsby AfricaKenya’s Coconut Value Chain by Gatsby Africa
Kenya’s Coconut Value Chain by Gatsby Africaictsugar
 
Memorándum de Entendimiento (MoU) entre Codelco y SQM
Memorándum de Entendimiento (MoU) entre Codelco y SQMMemorándum de Entendimiento (MoU) entre Codelco y SQM
Memorándum de Entendimiento (MoU) entre Codelco y SQMVoces Mineras
 
8447779800, Low rate Call girls in Saket Delhi NCR
8447779800, Low rate Call girls in Saket Delhi NCR8447779800, Low rate Call girls in Saket Delhi NCR
8447779800, Low rate Call girls in Saket Delhi NCRashishs7044
 

Dernier (20)

Call US-88OO1O2216 Call Girls In Mahipalpur Female Escort Service
Call US-88OO1O2216 Call Girls In Mahipalpur Female Escort ServiceCall US-88OO1O2216 Call Girls In Mahipalpur Female Escort Service
Call US-88OO1O2216 Call Girls In Mahipalpur Female Escort Service
 
Case study on tata clothing brand zudio in detail
Case study on tata clothing brand zudio in detailCase study on tata clothing brand zudio in detail
Case study on tata clothing brand zudio in detail
 
(Best) ENJOY Call Girls in Faridabad Ex | 8377087607
(Best) ENJOY Call Girls in Faridabad Ex | 8377087607(Best) ENJOY Call Girls in Faridabad Ex | 8377087607
(Best) ENJOY Call Girls in Faridabad Ex | 8377087607
 
Independent Call Girls Andheri Nightlaila 9967584737
Independent Call Girls Andheri Nightlaila 9967584737Independent Call Girls Andheri Nightlaila 9967584737
Independent Call Girls Andheri Nightlaila 9967584737
 
8447779800, Low rate Call girls in Uttam Nagar Delhi NCR
8447779800, Low rate Call girls in Uttam Nagar Delhi NCR8447779800, Low rate Call girls in Uttam Nagar Delhi NCR
8447779800, Low rate Call girls in Uttam Nagar Delhi NCR
 
8447779800, Low rate Call girls in Shivaji Enclave Delhi NCR
8447779800, Low rate Call girls in Shivaji Enclave Delhi NCR8447779800, Low rate Call girls in Shivaji Enclave Delhi NCR
8447779800, Low rate Call girls in Shivaji Enclave Delhi NCR
 
Marketplace and Quality Assurance Presentation - Vincent Chirchir
Marketplace and Quality Assurance Presentation - Vincent ChirchirMarketplace and Quality Assurance Presentation - Vincent Chirchir
Marketplace and Quality Assurance Presentation - Vincent Chirchir
 
2024 Numerator Consumer Study of Cannabis Usage
2024 Numerator Consumer Study of Cannabis Usage2024 Numerator Consumer Study of Cannabis Usage
2024 Numerator Consumer Study of Cannabis Usage
 
IoT Insurance Observatory: summary 2024
IoT Insurance Observatory:  summary 2024IoT Insurance Observatory:  summary 2024
IoT Insurance Observatory: summary 2024
 
Ms Motilal Padampat Sugar Mills vs. State of Uttar Pradesh & Ors. - A Milesto...
Ms Motilal Padampat Sugar Mills vs. State of Uttar Pradesh & Ors. - A Milesto...Ms Motilal Padampat Sugar Mills vs. State of Uttar Pradesh & Ors. - A Milesto...
Ms Motilal Padampat Sugar Mills vs. State of Uttar Pradesh & Ors. - A Milesto...
 
NewBase 19 April 2024 Energy News issue - 1717 by Khaled Al Awadi.pdf
NewBase  19 April  2024  Energy News issue - 1717 by Khaled Al Awadi.pdfNewBase  19 April  2024  Energy News issue - 1717 by Khaled Al Awadi.pdf
NewBase 19 April 2024 Energy News issue - 1717 by Khaled Al Awadi.pdf
 
Digital Transformation in the PLM domain - distrib.pdf
Digital Transformation in the PLM domain - distrib.pdfDigital Transformation in the PLM domain - distrib.pdf
Digital Transformation in the PLM domain - distrib.pdf
 
Call Us ➥9319373153▻Call Girls In North Goa
Call Us ➥9319373153▻Call Girls In North GoaCall Us ➥9319373153▻Call Girls In North Goa
Call Us ➥9319373153▻Call Girls In North Goa
 
Pitch Deck Teardown: Geodesic.Life's $500k Pre-seed deck
Pitch Deck Teardown: Geodesic.Life's $500k Pre-seed deckPitch Deck Teardown: Geodesic.Life's $500k Pre-seed deck
Pitch Deck Teardown: Geodesic.Life's $500k Pre-seed deck
 
Call Us 📲8800102216📞 Call Girls In DLF City Gurgaon
Call Us 📲8800102216📞 Call Girls In DLF City GurgaonCall Us 📲8800102216📞 Call Girls In DLF City Gurgaon
Call Us 📲8800102216📞 Call Girls In DLF City Gurgaon
 
Investment in The Coconut Industry by Nancy Cheruiyot
Investment in The Coconut Industry by Nancy CheruiyotInvestment in The Coconut Industry by Nancy Cheruiyot
Investment in The Coconut Industry by Nancy Cheruiyot
 
Corporate Profile 47Billion Information Technology
Corporate Profile 47Billion Information TechnologyCorporate Profile 47Billion Information Technology
Corporate Profile 47Billion Information Technology
 
Kenya’s Coconut Value Chain by Gatsby Africa
Kenya’s Coconut Value Chain by Gatsby AfricaKenya’s Coconut Value Chain by Gatsby Africa
Kenya’s Coconut Value Chain by Gatsby Africa
 
Memorándum de Entendimiento (MoU) entre Codelco y SQM
Memorándum de Entendimiento (MoU) entre Codelco y SQMMemorándum de Entendimiento (MoU) entre Codelco y SQM
Memorándum de Entendimiento (MoU) entre Codelco y SQM
 
8447779800, Low rate Call girls in Saket Delhi NCR
8447779800, Low rate Call girls in Saket Delhi NCR8447779800, Low rate Call girls in Saket Delhi NCR
8447779800, Low rate Call girls in Saket Delhi NCR
 

RM strategies for managing uncertainties and adverse outcomes in business

  • 1.
  • 2.
  • 3.
  • 4.
  • 5.
  • 6.
  • 7.
  • 8. Earnings of a bank: Deposits Borrowings interest expenses Loans Investment Interest income earnings
  • 9. Earnings – value of a firm Earnings taxes dividends Reserves & Surplus Balance Sheet
  • 10.
  • 11.
  • 12.
  • 13.
  • 14.
  • 15.
  • 16.
  • 17.