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Modern Managers Face Complex Challenges
- 4. E
-R XVEHMXMSREPP] WXVYGXYVIH SVKERM^EXMSR QEREKIVW STIVEXI EX HMJJIVIRX PIZIPW VERKMRK JVSQ
FSXXSQ PIZIP XS XST PIZIP JMVWXPMRI QEREKIVW QMHHPIPIZIP QEREKIVW ERH XSTPIZIP
QEREKIVW 8LI JMVWXPMRI QEREKIVW VIUYMVI XIGLRMGEP WOMPPW QSVI FIGEYWI XLI] QEREKI
XLI [SVO SJ RSRQEREKIVMEP IQTPS]IIW [LS EVI X]TMGEPP] MRZSPZIH [MXL TVSHYGMRK XLI
SVKERM^EXMSR W TVSHYGXW ERH WIVZMGIW 1MHHPIPIZIP QEREKIVW VIUYMVI LYQER WOMPPW QSVI
FIGEYWI XLI] [SVO MR GSSVHMREXMSR [MXL SXLIV QEREKIVW EX XLI WEQI PIZIP ERH WYTIVZMWI
XLI [SVO SJ JMVWXPMRI QEREKIVW -R EHHMXMSR XS MX XLI] XS EGX E FVMHKI FIX[IIR XSTPIZIP
QEREKIVW ERH PS[IVPS[IV QERKIVW [LIR MQTPIQIRXMRK E WXVEXIK]
SW
ER
S
8STPIZIP QEREKIVW VIUYMVI QSVI XLI GSRGITXYEP WOMPPW FIGEYWI XLI] EVI VIWTSRWMFPI JSV
QEOMRK KSEPW ERH TPERW XLEX EJJIGX XLI IRXMVI SVKERM^EXMSR %W XLI QEREKIVW EHZERGI MR
SVKERM^EXMSRW XLI] FIGSQI PIWW MRZSPZIH MR EGXYEP TVSHYGXMSR SV XIGLRMGEP EVIEW ERH
QSVI MRZSPZIH MR KYMHMRK XLI SVKERM^EXMSR EW E [LSPI LYQER WOMPPW VIQEMR MQTSVXERX EX
EPP PIZIPW FIGEYWI QEREKIVW VIUYMVIW WOMPPW XLVSYKL [LMGL XLI] FYMPH GSSTIVEXMSR WS
XLEX XLI] GER [SVO [MXL XLI TISTPI
- 5. F
%YXSGVEXMG WX]PI MW HIWGVMFIH EW E PIEHIV [LS HMGXEXIH [SVO QIXLSHW QEHI YRMPEXIVEP
HIGMWMSRW ERH PMQMXIH IQTPS]IIW TEVXMGMTEXMSR
AN
(IQSGVEXMG WX]PI HIWGVMFIH E PIEHIV [LS MRZSPZIH IQTPS]IIW MR HIGMWMSR QEOMRK
HIPIKEXIH EYXLSVMX] ERH YWIH JIIHFEGO EW ER STTSVXYRMX] JSV GSEGLMRK IQTPS]IIW
G
G
ES
T
;LMGL WX]PI SJ PIEHIVWLMT MW FIWX MW HITIRHIRX YTSR XLI X]TI SJ IRZMVSRQIRX ERH
WMXYEXMSR MR [LMGL E QERKIV MW STIVEXMRK *SV IEQTPI MJ IQTPS]IIW EVI PS[ SR
TVSJIWWMSREP QEXYVMX] PIWW ITIVMIRGIH ERH MRGSQTIXIRX SV RSX PS]EP
E QERKIV [MPP
RSX FI [MPPMRK XS TVEGXMGI E HIQSGVEXMG WX]PI SV MJ WMXYEXMSRW EVI YVKIRXIQIVKIRX [LIVI
HIGMWMSRW LEZI XS FI QSVI MRXYMXMZI ERH HIGMWMSRW WLSYPH ZIV] MRWXERXP] QEHI
3R XLI SXLIV LERH MJ IQTPS]IIW EVI LMKL SR TVSJIWWMSREP QEXYVMX] GSQTIXIRX IRSYKL
XVYWX[SVXL] ERH WMXYEXMSR EVI IQIVKIRX SV YVKIRX HIGMWMSRW EVI RSX RIIHIH E HIQSGVEXMG
WX]PI GER FI QSVI JVYMXJYP
SU
5
- 6. E
8LI 'LEPPIRKIW XLEX E QSHIVR JEGIW EVI
8LI] LEZI XS HS LEVH [SVO
1E] LEZI XS TIVJSVQ HYXMIW XLEX EVI QSVI GPIVMGEP XLER QEREKIVMEP
,EZI XS HIEP [MXL ZEVMIX] SJ TIVWSREPMXMIW
3JXIR LEZI XS QEOI HS [MXL PMQMXIH VIWSYVGI
1SXMZEXI [SVOIVW MR GLESXMG ERH YRGIVXEMR WMXYEXMSRW
PIRH ORS[PIHKI WOMPPW EQFMXMSRW ERH ITIVMIRGIW SJ E HMZIVWI [SVO KVSYTW
8LI WYGGIWW SJ E QEREKIV HITIRHW SR WYGGIWW SJ SXLIVW
6I[EVHW *SV 1SHIVR 1EREKIVW
'VIEXI E [SVO IRZMVSRQIRX MR [LMGL SVKERM^EXMSREP QIQFIV GER [SVO XS XLI
FIWX SJ XLIMV EFMPMX]
,EZI STTSVXYRMXMIW XS XLMRO GVIEXMZIP] ERH YWI MQEKMREXMSRW
,IPT SXLIVW JMRH ERH QIERMRK ERH JYPJMPQIRX MR [SVO
7YTTSVX GSEGL ERH RYVXYVI SXLIVW
6IGIMZI VIGSKRMXMSR ERH WXEXYW MR SVKERM^EXMSR ERH GSQQYRMX]
4PE] E VSPI SJ MRJPYIRGMRK SVKERM^EXMSREP SYXGSQIW
6IGIMZI ETTVSTVMEXI GSQTIRWEXMSRW MR XLI JSVQ SJ FSRYWIW ERH WXSGO STXMSRW
+SSH QEREKIVW EVI RIIHIH F] SVKERM^EXMSR
- 7. F
%W E KVSYT TIVJSVQW MXW EWWMKRIH XEWOW HMWEKVIIQIRXW MRIZMXEFP] EVMWI 'SRJPMGX MW
TIVGIMZIH MRGSQTEXMFPI HMJJIVIRGIW VIWYPXMRK MR WSQI JSVQ SJ MRXIVJIVIRGI SV STTSWMXMSR
;LIXLIV XLI HMJJIVIRGIW EVI VIEP MW MVVIPIZERX -J TISTPI MR E KVSYT TIVGIMZI XLEX
HMJJIVIRGIW IMWX XLIR XLIVI MW GSRJPMGX
8LI WYKKIWXIH ERW[IVW TVSZMHIH SR ERH QEHI EZEMPEFPI XLVSYKL XLI -RWXMXYXI W [IFWMXI QE] SRP] FI VIJIVVIH VIPMIH YTSR SV XVIEXIH EW E KYMHI ERH WYFWXMXYXI JSV
TVSJIWWMSREP EHZMGI 8LI -RWXMXYXI HSIW RSX XEOIER] VIWTSRWMFMPMX] EFSYX XLIEGGYVEG]GSQTPIXIRIWWSVGYVVIRG]SJ XLI MRJSVQEXMSRTVSZMHIHMRXLI WYKKIWXIH ERW[IVW
8LIVIJSVIXLI-RWXMXYXIMWRSXPMEFPIXSEXXIRHSVVIGIMZIER]GSQQIRXWSFWIVZEXMSRWSVGVMXMGWVIPEXIHXSXLIWYKKIWXIHERW[IVW
- 10. 7IQIWXIV
SJ
ES
T
AN
SW
ER
S
8LVII HMJJIVIRX ZMI[W LEZI IZSPZIH VIKEVHMRK GSRJPMGX 8LI XVEHMXMSREP ZMI[ SJ GSRJPMGX
EVKYIW XLEX GSRJPMGX QYWX FI EZSMHIH XLEX MX MRHMGEXIW E TVSFPIQ [MXLMR XLI KVSYT %RSXLIV
ZMI[ XLI LYQER VIPEXMSRW ZMI[ SJ GSRJPMGX EVKYIW XLEX GSRJPMGX MW E REXYVEP ERH MRIZMXEFPI
SYXGSQI MR ER] KVSYT ERH RIIH RSX FI RIKEXMZI FYX LEW TSXIRXMEP XS FI E TSWMXMZI JSVGI
MR GSRXVMFYXMRK XS E KVSYT W TIVJSVQERGI 8LI XLMVH ERH QSWX VIGIRX ZMI[ XLI
MRXIVEGXMSRMWX ZMI[ SJ GSRJPMGX TVSTSWIW XLEX RSX SRP] GER GSRJPMGX FI E TSWMXMZI JSVGI MR E
KVSYT FYX WSQI GSRJPMGX MW EFWSPYXIP] RIGIWWEV] JSV E KVSYT XS TIVJSVQ IJJIGXMZIP]
*YRGXMSREP GSRJPMGXW EVI GSRWXVYGXMZI ERH WYTTSVX XLI KSEPW SJ XLI [SVO KVSYT ERH
MQTVSZI MXW TIVJSVQERGI (]WJYRGXMSREP GSRJPMGXW EVI HIWXVYGXMZI ERH TVIZIRX E KVSYT
JVSQ EGLMIZMRK MXW KSEPW
;LIR MW GSRJPMGX JYRGXMSREP ERH [LIR MW MX H]WJYRGXMSREP# 6IWIEVGL MRHMGEXIW XLEX MX
HITIRHW SR XLI X]TI SJ GSRJPMGX 8EWO GSRJPMGX VIPEXIW XS XLI GSRXIRX ERH KSEPW SJ XLI
[SVO 6IPEXMSRWLMT GSRJPMGX JSGYWIW SR MRXIVTIVWSREP VIPEXMSRWLMTW 4VSGIWW GSRJPMGX VIJIVW
XS LS[ XLI [SVO KIXW HSRI 6IWIEVGL LEW WLS[R XLEX VIPEXMSRWLMT GSRJPMGXW EVI EPQSWX
EP[E]W H]WJYRGXMSREP FIGEYWI XLI MRXIVTIVWSREP LSWXMPMXMIW MRGVIEWI TIVWSREPMX] GPEWLIW
ERH HIGVIEWI QYXYEP YRHIVWXERHMRK ERH XLI XEWOW HSR X KIX HSRI 3R XLI SXLIV LERH
PS[ PIZIPW SJ TVSGIWW GSRJPMGX ERH PS[ XS QSHIVEXI PIZIPW SJ XEWO GSRJPMGX EVI JYRGXMSREP
*SV TVSGIWW GSRJPMGX XS FI TVSHYGXMZI MX QYWX FI QMRMQEP 3XLIV[MWI MRXIRWI EVKYQIRXW
SZIV [LS WLSYPH HS [LEX QE] FIGSQI H]WJYRGXMSREP FIGEYWI XLI] GER PIEH XS
YRGIVXEMRX] EFSYX XEWO EWWMKRQIRXW MRGVIEWI XLI XMQI XS GSQTPIXI XEWOW ERH PIEH XS
QIQFIVW [SVOMRK EX GVSWWTYVTSWIW ,S[IZIV E PS[ XS QSHIVEXI PIZIP SJ XEWO GSRJPMGX
GSRWMWXIRXP] LEW E TSWMXMZI IJJIGX SR KVSYT TIVJSVQERGI FIGEYWI MX WXMQYPEXIW HMWGYWWMSR
SJ MHIEW XLEX LIPT KVSYTW FI QSVI MRRSZEXMZI IGEYWI [I HSR X ]IX LEZI E
WSTLMWXMGEXIH QIEWYVMRK MRWXVYQIRX JSV EWWIWWMRK [LIXLIV GSRJPMGX PIZIPW EVI STXMQEP
XSS LMKL SV XSS PS[ E QEREKIV QYWX XV] XS NYHKI XLEX MRXIPPMKIRXP]
;LIR KVSYT GSRJPMGX PIZIPW EVI XSS LMKL QEREKIVW GER WIPIGX JVSQ JMZI GSRJPMGX
QEREKIQIRX STXMSRW EZSMHMRK EGGSQQSHEXMRK JSVGMRK GSQTVSQMWMRK ERH
GSPPEFSVEXMRK
G
G
5
- 11. E
%VKYQIRX W [LMGL WYTTSVXW 1EREKIV % GER TVSZMHI XS WYTTSVX LMW ZMI[TSMRX
:MSPEXMSR SJ TVSJMX QEMQM^EXMSR FYWMRIWW MW FIMRK WSGMEPP] VIWTSRWMFPI SRP]
[LIR MX TYVWYIW MXW IGSRSQMG MRXIVIWXW
--
(MPYXMSR SJ TYVTSWI TIVWYMRK WSGMEP KSEPW HMPYXIW FYWMRIWW TVMQEV] TYVTSWI
IGSRSQMG TVSHYGXMZMX]
---
'SWXW QER] WSGMEPP] VIWTSRWMFPI EGXMSRW HS RSX GSZIV XLIMV GSWXW ERH WSQISRI
QYWX TE] XLIWI GSWXW
-:
8SS 1YGL 4S[IV FYWMRIWWIW LEZI E PSX SJ TS[IV EPVIEH] ERH MJ XLI] TYVWYI
WSGMEP KSEPW XLI] [MPP LEZI IZIR QSVI
:
:-
SU
-
0EGO SJ 7OMPPW FYWMRIWW
MWWYIW
PIEHIVW PEGO XLI RIGIWWEV] WOMPPW XS EHHVIWW WSGMEP
0EGO SJ %GGSYRXEFMPMX] XLIVI EVI RS HMVIGX PMRIW SJ EGGSYRXEFMPMX] JSV WSGMEP
EGXMSRW
%VKYQIRXW [LMGL 7YTTSVXW 1ERKIV W ZMI[TSMRX
-
4YFPMG ITIGXEXMSRW TYFPMG STMRMSR RS[ WYTTSVXW FYWMRIWW TYVWYMRK IGSRSQMG
ERH WSGMEP MWWYIW
--
0SRK6YR 4VSJMXW WSGMEPP] VIWTSRWMFPI GSQTERMIW XIRH XS LEZI QSVI WIGYVI
PSRKVYR TVSJMXW
---
)XLMGEP 3FPMKEXMSRW FYWMRIWW WLSYPH FI WSGMEPP] VIWTSRWMFPI FIGEYWI VIWTSRWMFPI
EGXMSRW EVI XLI VMKLX XLMRKW XS HS
-:
IXXIV )RZMVSRQIRX YWMRIWW MRZSPZIQIRX GER LIPT WSPZI HMJJMGYPX WSGMEP
8LI WYKKIWXIH ERW[IVW TVSZMHIH SR ERH QEHI EZEMPEFPI XLVSYKL XLI -RWXMXYXI W [IFWMXI QE] SRP] FI VIJIVVIH VIPMIH YTSR SV XVIEXIH EW E KYMHI ERH WYFWXMXYXI JSV
TVSJIWWMSREP EHZMGI 8LI -RWXMXYXI HSIW RSX XEOIER] VIWTSRWMFMPMX] EFSYX XLIEGGYVEG]GSQTPIXIRIWWSVGYVVIRG]SJ XLI MRJSVQEXMSRTVSZMHIHMRXLI WYKKIWXIH ERW[IVW
8LIVIJSVIXLI-RWXMXYXIMWRSXPMEFPIXSEXXIRHSVVIGIMZIER]GSQQIRXWSFWIVZEXMSRWSVGVMXMGWVIPEXIHXSXLIWYKKIWXIHERW[IVW
- 14. 7IQIWXIV
SJ
TVSFPIQW
:
(MWGSYVEKIQIRX SJ JYVXLIV KSZIVRQIRXEP VIKYPEXMSRW
:-
EPERGI SJ 6IWTSRWMFMPMX] ERH 4S[IV FYWMRIWWIW LEZI E PSX SJ TS[IV ERH
IUYEPP] PEVKI EQSYRX SJ VIWTSRWMFMPMX] MW RIIHIH XS FEPERGI EKEMRWX XLEX TS[IV
:--
7XSGOLSPHIVW MRXIVIWX FIMRK WSGMEPP] VIWTSRWMFPI [MPP MQTVSZI E FYWMRIWW WXSGO
TVMGI MR PSRK VYR
:---
4SWWIWWMSR SJ 6IWSYVGIW YWMRIWWIW LEZI XLI VIWSYVGIW XS WYTTSVX TYFPMG ERH
GLEVMXEFPI TVSNIGXW XLEX RIIH EWWMWXERGI
AN
SW
ER
S
- 15. F
% UYEPMX] VIZSPYXMSR W[ITX XLVSYKL FSXL XLI FYWMRIWW ERH TYFPMG WIGXSV MR W ERH
W [LMGL PIEHIH XS IQIVKIRGI SJ 851 851 MW E QEREKIQIRX TLMPSWSTL] HIZSXIH
XS GSRXMRYEP MQTVSZIQIRX ERH VIWTSRHMRK XS GYWXSQIV RIIHW ERH ITIGXEXMSRW
'YWXSQIV MW GSRWMHIVIH EW PMJI FPSSH JSV ER] SVKERM^EXMSR 'YWXSQIV MW ER]SRI [LS
MRXIVEGXW [MXL XLI SVKERM^EXMSR TVSHYGXW SV WIVZMGIW MRXIVREPP] SV IXIVREPP] -X
IRGSQTEWWIW IQTPS]IIW ERH WYTTPMIVW EW [IPP EW XLI TISTPI [LS TYVGLEWI XLI
SVKERM^EXMSR W KSSHW ERH WIVZMGIW 'SRXMRYSYW MQTVSZIQIRX
RSX MR TVSHYGX ERH
WIVZMGIW SRP] FYX MR EPP TVSGIWW SJ ER SVKERM^EXMSR MW QYWX JSV KIXXMRK GYWXSQIVW
WEXMWJMIH 7YGGIWW SJ ER] SVKERM^EXMSR QEMRP] HITIRHW SR MXW GYWXSQIV WEXMWJEGXMSR
-QTPIQIRXMRK 851 TVSKVEQW GER MRGVIEWI E GSQTER] W WYGGIWW VEXI FIGEYWI EW MX
JSGYWIW SR KIXXMRK GYWXSQIV WEXMWJMIH XLVSYKL GSRXMRYSYW MQTVSZIQIRX MR EPP TVSGIWWIW
SJ SVKERM^EXMSR
SU
G
G
ES
T
851 FIPMIZIW MR
-RXIRWI JSGYW SR XLI GYWXSQIV 8LI GYWXSQIV MRGPYHIW SYXWMHIVW [LS FY] XLI
SVKERM^EXMSR W TVSHYGXW SV WIVZMGIW ERH MRXIVREP GYWXSQIVW [LS MRXIVEGX [MXL ERH
WIVZI SXLIV MR XLI SVKERM^EXMSR
'SRGIVR JSV GSRXMRYEP MQTVSZIQIRX 5YEPMX] QEREKIQIRX MW E GSQQMXQIRX XS
RIZIV FIMRK WEXMWJMIH :IV] KSSH MW RSX KSSH IRSYKL 5YEPMX] GER EP[E]W FI
MQTVSZIH
4VSGIWW JSGYWIH 5YEPMX] QEREKIQIRX JSGYWIW SR [SVO TVSGIWWIW EW XLI UYEPMX]
SJ KSSHW ERH WIVZMGIW MW GSRXMRYEPP] MQTVSZIH
-QTVSZIQIRX MR XLI UYEPMX] SJ IZIV]XLMRK XLI SVKERM^EXMSR HSIW 8LMW VIPEXIW XS XLI
JMREP TVSHYGX LS[ XLI SVKERM^EXMSR LERHPIW HIPMZIVMIW LS[ VETMHP] MX VIWTSRHW XS
GSQTPEMRXW LS[ TSPMXIP] XLI TLSRIW EVI ERW[IVIH ERH XLI PMOI
%GGYVEXI QIEWYVIQIRX 5YEPMX] QEREKIQIRX YWIW WXEXMWXMGEP XIGLRMUYIW XS
QIEWYVI IZIV] GVMXMGEP ZEVMEFPI MR XLI SVKERM^EXMSR W STIVEXMSRW 8LIWI EVI
GSQTEVIH EKEMRWX WXERHEVHW XS MHIRXMJ] TVSFPIQW XVEGI XLIQ XS XLIMV VSSXW ERH
IPMQMREXI XLIMV GEYWIW
)QTS[IVQIRX SJ IQTPS]IIW 5YEPMX] QEREKIQIRX MRZSPZIW XLI TISTPI SR XLI PMRI
MR XLI MQTVSZIQIRX TVSGIWW 8IEQW EVI [MHIP] YWIH MR UYEPMX] QEREKIQIRX
TVSKVEQW EW IQTS[IVQIRX ZILMGPIW JSV JMRHMRK ERH WSPZMRK TVSFPIQW
5
- 16. E
8LI JSPPS[MRK EVI EGXMZMXMIW SJ ,61 [LMGL RIIHW XS FI TIVJSVQIH MR SVHIV QIIX XLI
VIUYMVIQIRXW SJ S[RIVW
8S IRWYVI XLEX GSQTIXIRX IQTPS]IIW EVI MHIRXMJMIH ERH WIPIGXIH S[RIVW RIIHW XS
GSRHYGX
,YQER 6IWSYVGI 4PERRMRK
6IGVYMXQIRX HIVIGVYMXQIRX
7IPIGXMSR
8S TVSZMHI IQTPS]IIW [MXL YTXSHEXI ORS[PIHKI ERH WOMPPW S[RIVW RIIHW XS GSRHYGX
3VMIRXEXMSR
8VEMRMRK
8S IRWYVI XLEX XLI GSQTIXIRX IQTPS]IIW EVI VIXEMRIH S[RIVW WLSYPH TIVJSVQ
8LI WYKKIWXIH ERW[IVW TVSZMHIH SR ERH QEHI EZEMPEFPI XLVSYKL XLI -RWXMXYXI W [IFWMXI QE] SRP] FI VIJIVVIH VIPMIH YTSR SV XVIEXIH EW E KYMHI ERH WYFWXMXYXI JSV
TVSJIWWMSREP EHZMGI 8LI -RWXMXYXI HSIW RSX XEOIER] VIWTSRWMFMPMX] EFSYX XLIEGGYVEG]GSQTPIXIRIWWSVGYVVIRG]SJ XLI MRJSVQEXMSRTVSZMHIHMRXLI WYKKIWXIH ERW[IVW
8LIVIJSVIXLI-RWXMXYXIMWRSXPMEFPIXSEXXIRHSVVIGIMZIER]GSQQIRXWSFWIVZEXMSRWSVGVMXMGWVIPEXIHXSXLIWYKKIWXIHERW[IVW
- 19. 7IQIWXIV
SJ
)QTPS]II TIVJSVQERGI QEREKIQIRX
'SQTIRWEXMSR ERH FIRIJMXW QEREKIQIRX
)QTPS]II GEVIIV HIZIPSTQIRX
(IWGVMTXMSR SJ XLI EGXMZMXMIW
,YQER VIWSYVGI TPERRMRK MW XLI TVSGIWWIW F] [LMGL QEREKIVW IRWYVI XLEX SVKERM^EXMSR
LEW VMKLX RYQFIV ERH OMRHW SJ TISTPI MR XLI VMKLX TPEGI EX XLI VMKLX XMQIW -X MRZSPZIW
EWWIWWMRK GYVVIRX LYQER VIWSYVGI ERH QIIXMRK JYXYVI RIIHW
6IGVYMXQIRX MW PSGEXMRK ERH MHIRXMJ]MRK ERH EXXVEGXMRK GETEFPI ETTPMGERXW [LIVIEW
HIVIGVYMXQIRX MW GSRXVSPPMRK PEFSYV WYTTP] -R XLI KMZIR GEWI XLI S[RIVW [MPP LEZI XS
GEVV]SYX VIGVYMXQIRX EGXMZMXMIW
SW
ER
S
7IPIGXMSR MW WGVIIRMRK NSF ETTPMGERXW XS IRWYVI XLEX QSWX ETTVSTVMEXI GERHMHEXIW EVI
LMVIH
3VMIRXEXMSR MW TVSZMHMRK IHYGEXMSR XS IQTPS]IIW XLEX MRXVSHYGIW RI[ IQTPS]IIW XS
LMWLIV NSF ERH XLI SVKERM^EXMSR
AN
8VEMRMRK MW MQTEVXMRK RIGIWWEV] WOMPPW MR IQTPS]IIW [LMGL IREFPIW LMQ XS TIVJSVQ XLI
NSF JSV [LMGL LIWLI MW LMVIH
T
)QTPS]II 4IVJSVQERGI 1EREKIQIRX MW E W]WXIQ XLEX IWXEFPMWLIW TIVJSVQERGI
WXERHEVHW XLEX EVI YWIH XS IZEPYEXI IQTPS]II TIVJSVQERGI
G
G
ES
'SQTIRWEXMSR 1EREKIQIRX MW VI[EVHMRK IQTPS]IIW JSV XLIMV GSRXVMFYXMSR XS XLI
SVKERM^EXMSR ERH TVSZMRK IPIQIRXW [LMGL QEOIW XLIMV NSFW EXXVEGXMZI ERH MRGVIEWI
IQTPS]II QSXMZEXMSR
- 20. F
8LI JSPPS[MRK EVI XLI UYEPMX] HMQIRWMSR MR TVSHYGXW ERH WIVZMGIW
-
--
---
-:
:
:-
:--
SU
4VSHYGX 5YEPMX] (MQIRWMSRW
4IVJSVQERGI E TVSHYGX TIVJSVQERGI HITIRHW SR STIVEXMRK GLEVEGXIVMWXMGW
*IEXYVIW E TVSHYGX GER LEZI MQTSVXERX WTIGMEP GLEVEGXIVMWXMGW *PIMFMPMX] XLI
IXIRX XS [LMGL TVSHYGX STIVEXMRK WTIGMJMGEXMSRW QIIX SZIV WSQI TIVMSH SJ XMQI
(YVEFMPMX] XLI IXIRX XS [LMGL TVSHYGX GER FI YWIH FIJSVI MX HIXIVMSVEXIW
'SRJSVQERGI IXIRX XS [LMGL E TVSHYGX WXERHEVHW QEXGL [MXL XLI TVI
IWXEFPMWLIH WXERHEVHW
7IVZMGIEFMPMX] XLI IEWI ERH WTIIH SJ VITEMV RSVQEP WIVZMGI
%IWXLIXMGW LS[ E TVSHYGX PSSOW ERH JIIPW
4IVGIMZIH UYEPMX] WYFNIGXMZI EWWIWWQIRX SJ GLEVEGXIVMWXMGW
- 21. TVSHYGX MQEKI
7IVZMGI 5YEPMX] (MQIRWMSRW
-
--
---
-:
:
:-
5
8MQIPMRIWW TIVJSVQIH MR TVSQMWIH TIVMSH SJ XMQI
'SYVXIW] XS [LEX IXIRX WIVZMGI MW TIVJSVQIH GLIIVJYPP]
'SRWMWXIRG] XLI IXIRX XS [LMGL EPP GYWXSQIVW ITIVMIRGI WMQMPEVP] IEGL XMQI
'SRZIRMIRGI EGGIWWMFMPMX] XS GYWXSQIVW
'SQTPIXIRIWW JYPP] WIVZIH EW VIUYMVIH
%GGYVEG] XLI IXIRX XLI WIVZMGI TIVJSVQIH GSVVIGXP] IEGL XMQI
7IPPMRK GSRGITXW LSPHW XLEX GSRWYQIVW [MPP RSX FY] IRSYKL SJ XLI JMVQ W TVSHYGX YRPIWW MX
YRHIVXEOIW E PEVKI WGEPI WIPPMRK ERH TVSQSXMSR EGXMZMX] 8LI WIPPMRK GSRGITX MW QSWXP]
8LI WYKKIWXIH ERW[IVW TVSZMHIH SR ERH QEHI EZEMPEFPI XLVSYKL XLI -RWXMXYXI W [IFWMXI QE] SRP] FI VIJIVVIH VIPMIH YTSR SV XVIEXIH EW E KYMHI ERH WYFWXMXYXI JSV
TVSJIWWMSREP EHZMGI 8LI -RWXMXYXI HSIW RSX XEOIER] VIWTSRWMFMPMX] EFSYX XLIEGGYVEG]GSQTPIXIRIWWSVGYVVIRG]SJ XLI MRJSVQEXMSRTVSZMHIHMRXLI WYKKIWXIH ERW[IVW
8LIVIJSVIXLI-RWXMXYXIMWRSXPMEFPIXSEXXIRHSVVIGIMZIER]GSQQIRXWSFWIVZEXMSRWSVGVMXMGWVIPEXIHXSXLIWYKKIWXIHERW[IVW
- 24. 7IQIWXIV
SJ
TVEGXMGIH [MXL YRWSYKLX KSSHW ERH WIVZMGIW XLSWI XLEX FY]IVW HS RSX RSVQEPP] XLMRO XS
FY] WYGL EW MRWYVERGI FPSSH HSREXMSR W SV IRG]GPSTEIHMEW EW XLI GSQTER] HIEPW [MXL
JSSHW MXIQW [LMGL EVI TYVGLEWIH JVIUYIRXP] XLI WIPPMRK GSRGITX MW RSX E VMKLX SRI
;LIR XLI GSQTER] MW JSPPS[MRK WIPPMRK GSRGITX XLIR
- 25. (MWEHZERXEKIW SJ *SPPS[MRK
WIPPMRK 'SRGITX
8LI GSQTER] [MPP RSX JSGYW SR YRHIVWXERHMRK GYWXSQIV RIIHW WS XLI TVSHYGXW XLI]
WEPI [MPP LEZI PIWW GLERGI XS WEXMWJ] GYWXSQIV RIIHW
8LI JSGYW SJ XLI GSQTER] [MPP FI SR EKKVIWWMZI WIPPMRK XLEX MW VMWO]
8LI GSQTER] [MPP FI JSGYWMRK SR GVIEXMRK WEPIW XVERWEGXMSRW VEXLIV XLER FYMPHMRK
PSRKXIVQ TVSJMXEFPI VIPEXMSRWLMTW [MXL XLI GYWXSQIV XLVSYKL WEXMWJ]MRK XLIMV RIIHW
'SQTER] QMKLX FI EFPI XS VIET FIRIJMXW MR WLSVXVYR FYX MR PSRKVYR MX QMKLX PSWI
GYWXSQIV ERH QEVOIX WLEVI
AN
SW
ER
S
8LI QEVOIXMRK GSRGITX LSPHW XLEX EGLMIZMRK SVKERM^EXMSREP WYGGIWW HITIRHW SR
YRHIVWXERHMRK ERH WEXMWJ]MRK GYWXSQIV RIIHW TVSJMXEFP] XLER GSQTIXMXSVW HS *SPPS[MRK
XLI QEVOIXMRK GSRGITX XLI GSQTER]
;MPP FIGSQI GYWXSQIV SVMIRXIH XLER WEPIW SVMIRXIH
;MPP IREFPI XLI GSQTER] XS YRHIVWXERH GYWXSQIVW RIIHW [ERXW ERH ITIGXEXMSRW
ERH MX [MPP FI EFPI JMRH IJJMGMIRX ERH IJJIGXMZI [E]W XS WEXMWJ] XLIMV RIIHW FIXXIV XLER
GSQTIXMXSVW
8LI EMQ SJ XLI GSQTER] [MPP FI XS FYMPH WEXMWJ] GYWXSQIVW VIXEMRMRK GYWXSQIVW FYMPH
GSQTER]FVERH PS]EPX] ERH IZIRXYEPP] XLEX [MPP HVMZI JMRERGMEP FIRIJMXW
G
G
ES
T
5 *SV 4PEWQE 8:
- 26. ,(8:
XLI GSRWYQIV [SYPH LEZI 'SQTPI Y]MRK ILEZMSYV 8LI
VIEWSRW EVI MX MW XLI TVSHYGX JSV [LMGL GSRWYQIV MRZSPZIQIRX [SYPH FI ZIV] LMKL EW MX
MW ZIV] ITIRWMZI ERH VMWO] MR E WIRWI XLEX XIGLRMGEP HIXEMPW ERH WTIGMJMGEXMSRW EVI XLIVI
-X MW MRJVIUYIRXP] TYVGLEWIH -X MW LMKLP] WIPJ ITVIWWMZI *YVXLIVQSVI XLIVI E GSRWYQIV
TIVGIMZIW WMKRMJMGERX FVERH HMJJIVIRGIW WYGL EW 7SR] 0+ ERH 4LMPPMTW
Y]IVW XEOI UYMXI IRSYKL XMQI FIJSVI QEOMRK E TYVGLEWI HIGMWMSR
SU
*SV ER ITIRWMZI GEVTIX XLI FY]IV [MPP WLS[ (MWWSRERGI 6IHYGMRK Y]MRK ILEZMSYV
FIGEYWI EW MX ER ITIRWMZI GEVTIX ERH RSX JVIUYIRXP] TYVGLEWIH XLI GSRWYQIV
MRZSPZIQIRX [SYPH FI LMKL ERH MX [MPP FI WIPJ ITVIWWMZI -R XLMW GEWI XLI FVERH
HMJJIVIRGIW EVI RSX PEVKI FY]IVW QE] WLST EVSYRH ERH PIEVR ZIV] UYMGOP] [LEX MW
EZEMPEFPI FYX FY] VIPEXMZIP] UYMGOP] 8LI GSRWYQIV QMKLX ITIVMIRGI WSQI WSVX SJ TSWX
TYVGLEWI HMWWSRERGI MR XLMW GEWI 8LI JSGYW SJ XLI GYWXSQIV [SYPH FI XS EZSMHVIHYGI
TSWXTYVGLEWI HMWWSRERGI
*SV GERHMIWXSJJIIW XLI FY]IV [MPP WLS[ :EVMIX] 7IIOMRK ILEZMSV FIGEYWI FY]MRK
GERHMIWXSJJIIW MW GLEVEGXIVM^IH F] PS[ GSRWYQIV MRZSPZIQIRX FIGEYWI MX PS[ GSWX
TVSHYGX JVIUYIRXP] TYVGLEWIH ERH WMKRMJMGERX TIVGIMZIH HMJJIVIRGIW EVI XLIVI
'SRWYQIV SJXIR HSIW E PSX SJ FVERH W[MXGLMRK [MXLSYX ER] QIRXEP IJJSVX ERH GSWX
*SV GMKEVIXXI XLI GSRWYQIVW LEZI TIVWSREP MRZSPZIQIRX MR XLMW TVSHYGX GEXIKSV] XLI]
WMQTP] HIQERH JSV XLI WTIGMJMG FVERH GSRWYQIV JSVQ WXVSRK EXXMXYHIW XS[EVHW XLIMV
FVERHW XLI] WIPIGX XLMW WTIGMJMG FVERH FIGEYWI MX MW JEQMPMEV XS XLIQ
5 3TIVEXMSRW QEREKIQIRX VIJIVW XS XVERWJSVQEXMSR TVSGIWW XLEX GSRZIVXW VIWSYVGIW MRXS
JMRMWLIH KSSHW ERH WIVZMGIW 8LI TVSGIWW MRGPYHIW
- 29. MMM
JMREP
SYXTYX 3TIVEXMSRW QEREKIQIRX MW MQTSVXERX JSV EPP SVKERM^EXMSRW FIGEYWI STIVEXMSR
TVSGIWW MW GEVVMIH SYX MR EPP SVKERM^EXMSRW [LIXLIV PEVKI SV WQEPP QERYJEGXYVMRK SV
WIVZMGI -X LIPTW SVKERM^EXMSRW XS IJJIGXMZIP] ERH IJJMGMIRXP] QEREKI STIVEXMSRW ERH MX
TPE]W E WXVEXIKMG VSPI MR ER SVKERM^EXMSRW GSQTIXMXMZI WYGGIWW *SV MRHMZMHYEP
SVKERM^EXMSRW MRGVIEWIH TVSHYGXMZMX] TVSZMHIW E QSVI GSQTIXMXMZI GSWX WXVYGXYVI ERH MXW
8LI WYKKIWXIH ERW[IVW TVSZMHIH SR ERH QEHI EZEMPEFPI XLVSYKL XLI -RWXMXYXI W [IFWMXI QE] SRP] FI VIJIVVIH VIPMIH YTSR SV XVIEXIH EW E KYMHI ERH WYFWXMXYXI JSV
TVSJIWWMSREP EHZMGI 8LI -RWXMXYXI HSIW RSX XEOIER] VIWTSRWMFMPMX] EFSYX XLIEGGYVEG]GSQTPIXIRIWWSVGYVVIRG]SJ XLI MRJSVQEXMSRTVSZMHIHMRXLI WYKKIWXIH ERW[IVW
8LIVIJSVIXLI-RWXMXYXIMWRSXPMEFPIXSEXXIRHSVVIGIMZIER]GSQQIRXWSFWIVZEXMSRWSVGVMXMGWVIPEXIHXSXLIWYKKIWXIHERW[IVW
- 32. 7IQIWXIV
SJ
EFMPMX] XS SJJIV QSVI GSQTIXMXMZI SJJIVW
)ZIV] SVKERM^EXMSR SJ XSHE] LEW EX PIEWX SRI XLMRK MR GSQQSR JSGYW SR VIHYGMRK GSWX
ERH MRGVIEWMRK IJJMGMIRG] 3TIVEXMSRW QEREKIQIRX GER PIEH XS IMXLIV WLSVX ERH GSWX
IJJMGMIRX ZEPYI GLEMR SV IXIRHIH GSWXP] ZEPYI GLEMR 8LVSYKL WQEVX STIVEXMSRW
QEREKIQIRX WXVEXIKMIW JMVQW GER IJJMGMIRXP] ERH IJJIGXMZIP] QEREKI MXW ZEPYI GLEMR
[LMGL VIWYPXW MR MRGVIEWIH TVSHYGXMZMX] ERH LMKLIV GETEFMPMX] XS VIWTSRH XS GLERKIW MR
QEVOIX ERH GYWXSQIV RIIHW 7XEOILSPHIVW EVI MRXIVIWXIH MR GSQTER] W JMRERGMEP
TIVJSVQERGI TEVXMGYPEVP] -RZIWXSVW ERH WXSGOLSPHIVW EVI MRXIVIWXIH MR VIXYVR SR XLIMV
MRZIWXQIRXW [LMGL MW WXVEMKLXP] EJJIGXIH F] XLI [E] STIVEXMSRW EVI QEREKIH
SU
G
G
ES
T
AN
SW
ER
S
8,) )2(
8LI WYKKIWXIH ERW[IVW TVSZMHIH SR ERH QEHI EZEMPEFPI XLVSYKL XLI -RWXMXYXI W [IFWMXI QE] SRP] FI VIJIVVIH VIPMIH YTSR SV XVIEXIH EW E KYMHI ERH WYFWXMXYXI JSV
TVSJIWWMSREP EHZMGI 8LI -RWXMXYXI HSIW RSX XEOIER] VIWTSRWMFMPMX] EFSYX XLIEGGYVEG]GSQTPIXIRIWWSVGYVVIRG]SJ XLI MRJSVQEXMSRTVSZMHIHMRXLI WYKKIWXIH ERW[IVW
8LIVIJSVIXLI-RWXMXYXIMWRSXPMEFPIXSEXXIRHSVVIGIMZIER]GSQQIRXWSFWIVZEXMSRWSVGVMXMGWVIPEXIHXSXLIWYKKIWXIHERW[IVW