SlideShare a Scribd company logo
!"#$%#&'(
%)$(*+),$!"4%-2"5#.)0"&'",+6"4+%*,&'("7/23%#2)"%"
4$2%#&32"8$+12--&+'%/9-"8$+).*#&3&#0

!"#$%&'&'("%')"*+%*,&'("*+'-./#%'*0"1+$"*$2%#&32-
*6*20(
1/377*=>*
59
<=5!<*

?<2?;9*
:,&-"*%-2"-#.)0"6%-"
6$&##2'"#+"&//.-#$%#2"#,2"
3%/.2"+1"*+%*,&'("1+$"
*$2%#&32"C$+12--&+'%/-@
P#9-"6$&##2'"6&#,"#,2"?2/&21"#,%#"232$0"
*,%//2'(2"&-"%"+'*2G&'G%G/&12#&>2"-&#.%#&+'"
#,%#"-&>&/%$/0"$2A.&$2-".'&A.2"-+/.#&+'-"
%')"%CC$+%*,2-@""
D,&/2"#,&-"C%$#&*./%$"*%-2"-#.)0"6%-"'+#"
)2-&('2)"#+"?2"C$2-*$&C#&32;"&#"2')-"6&#,"%"
-&>C/2"1$%>26+$<"+1"A.2-#&+'-"1+$"#,2"
$2%)2$"#+"*+'-&)2$;"&1"#,&-"*,%//2'(2"122/-"
1%>&/&%$@

43:7*(,@(1;=4*=49
Q!4RSTUVWOB
""4/&2'#"-&#.%#&+'
OP54UK7TXB"
""V')2$-#%')&'("#,2"*,%//2'(2
OP!SWU5P5B"
""D,%#9-"#,2".')2$/0&'("*%.-2Y
5UZV:PUWB"
""D,%#")&)"62"C$+C+-2Y
[77OQ!4RB"
""4/&2'#9-"C2$-C2*#&32
5VFF!TXB"
""D,%#"%$2"#,2"<20"#%<2%6%0-Y
T7!O7T"!88ZP4!:PUWB"
""+6"#+"%CC/0"%-"$2%)2$Y

D$&##2'"%')")2-&('2)"?0"Q$&%'":%>
7)&#2)"6&#,"/+32"?0"(++)"1$&2')-
:31A>2;<=8
]%>2-;"%")2-&('"2H2*.#&32"#.$'2)"2'#$2C$2'2.$;"6%-"
1$.-#$%#2)"#,%#",&-"'26"?.-&'2--"6%-'9#">+3&'("
1+$6%$)@""2"#.$'2)"#+"*+%*,&'("#+"%))$2--"#,&-"
*,%//2'(2@
F(G0*4HFI4*00G0J4.'4-04K0))4
D'*>.>'@0J4.'4)0(J4L>*4*.(M.?D;"6&#,"
^_"02%$-"+1"-+/&)"2HC2$&2'*2"&'",&-"
&').-#$0;"6,&*,"&'*/.)2)"/2%)&'(",&-"
1+$>2$"*+>C%'0E-"4,&'%"2HC%'-&+'"
#2%>@
!1#2$"$2%/&`&'("*+$C+$%#2"C+/&#&*-"
6%-"'+#"1+$",&>;",2")2*&)2)"#+"
C.$-.2",&-"/+'(G,2/)")$2%>"+1"
-#%$#&'(",&-"+6'"1&$>@""X2#;"%1#2$"%"
C2$&+)"+1"#&>2;",&-"?.-&'2--"6%-'9#"
>+3&'("1+$6%$)"%-",2"<'26"&#"*+./)@

!"#$%#&'(
%)$(*+),$-

5:89:";;

$%+"77$9"%6"

"N5":$"%6"

"!=63+$8%

2"($26">+$2"%')">+$2"1$.-#$%#2)"
%#",&-"-#%('%#&+'@""D,0"6%-"#,&-"
,%CC2'&'(Y
8591;6*20
Q21+$2",2%$&'("%?+.#"*+%*,&'(;"]"1+*.-2)"+'"
-+/.#&+'-"#,%#"#%$(2#2)",&-"/%*<"+1"C$+($2--@""X2#;"
6%-"#,&-",&-"#$.2"*,%//2'(2"+$">2$2/0"%"-0>C#+>"+1"
-+>2#,&'(")22C2$Y
204L(J4.M>0J40O0MP.L>@&4()M0(JPQ"
1$+>"C$+).*#&3&#0"-+1#6%$2;"#+"
*,%'(&'(",&-"+11&*2"2'3&$+'>2'#;"
%')"232'"*+'-&)2$2)"*+'#%*#&'("%"
,2%),.'#2$;"a.-#"&'"*%-2",2"
*+./)'9#"(2#"#,2"?.-&'2--"(+&'(@
Z&<2">%'0"C2+C/2;"]"%/-+"#.$'2)"
#+",&-"C22$-"1+$"%)3&*2"6,+"
-.((2-#2)",2"'+#"#+",%32"%"
C%$#'2$"#+"-#$2%>/&'2",&-"-#%$#.C@"
Z%#2$"62")&-*+32$2)"#,&-"%)3&*2"
#.$'2)"+.#"#+"?2"62//G&'#2'#&+'2)"
?.#"#,2"./#&>%#2/0"6$+'("1+$"]@

R$%!;"+4!:$C"4:";=7+;
:";=7+;

36+$8%;

5+",&-"*,%//2'(2"-#&//"C2$-&-#2)"
)2-C&#2"#,2-2"$2>2)&2-;"6,&*,")&)"
'+#"%))$2--"#,2"1.')%>2'#%/""
>&')-2#-"#,%#"6%-"#,2"*%.-2"+1"
#,2-2"$2-./#-@
:+"1&')"%'"2112*#&32"%')"/%-#&'("
-+/.#&+';"+.$"*+%*,&'("-2--&+'-"
-2%$*,2)"1+$"#,2"b$++#"*%.-2c"+1"
]9-"1$.-#$%#&+'@

-.?*+'-*&+.-

R$%!;"+

623%9"4,8=:4R$%!;"+4+84623%9"4,8=:4:";=7+;
4+%*,&'(",2/C-"0+."#+"2HC/+$2"#,&-"*,%&'"+1"232'#-;"-+"0+."
.')2$-#%')"0+.$".'*+'-*&+.-">+#&3%#&+'-;"?2/&21-;"%')"+#,2$"
>&')-2#-"#,%#")2#2$>&'2"%*#&+'-"%')"#,2$21+$2"$2-./#-@
!$94!""5":4#8:4+2"4:88+463=;"
!-"62"*+'#&'.2)"+.$"*+%*,&'(;"]"$232%/2)"#,%#",2",%)"
2A.%/"2HC2$&2'*2"&'"2%*,"+1"#,2"I">%a+$"%(2'*0"$+/2-B"#,2"
*$2%#&32"/2%);"#,2"#2*,'&*%/"/2%);"%')"#,2"-%/2-"/2%)@""
:,&-"#.$'2)"+.#"#+"?2"%'"&>C+$#%'#"$232/%#&+'@

:";=7+;

D,%#"6%-"*%.-&'(",&-"/%*<"+1"
C$+($2--Y""

736<48#4
5:89:";;

O>*>.4/)>0@.*

D2"6%'#2)"#+"(+"?20+')"#,2"
-.C2$1&*&%/"*,%//2'(2"%')")&("
)22C2$"#+".')2$-#%')"]9-"6,+/2"
-&#.%#&+'@

>%<2"C&#*,

6$&#2"*+C0

36+$8%;

/++<"1+$"+CC+$#.'&#&2-

D,0"6%-",2")+&'("-+">%'0"
)&112$2'#"#,&'(-Y""

&'-C&$2"#2%>
%##2')"232'#-

2)&#"*+C0
)$%1#"C&#*,

*0.4O>*>'@4

D2"2H%>&'2)",&-"?2,%3&+$-"
%')"#,2">+#&3%#&+'-"?2,&')"
#,2>"#+"$232%/",&-">&')-2#-@

6$&#2"C$+C+-%/-

*$2%#2"*+'*2C#)2#2$>&'2"-#$%#2(0
)2-&('"62?-&#2
/++<"1+$"C%$#'2$-

/2%$'"-+1#6%$2

J0*>&@4@0K4&M(DL>/*

?.&/)"'26"$2/%#&+'-,&C-

R$%!;"+;

6:"3+$C"

;37";47"3!

+"6247"3!

D,%#"&-"#,2"1+.')%#&+'"+1",&-"
#,+.(,#-Y""
D2")&-*+32$2)"I")&-#&'*#"
&)2'#&#&2-"#,%#"]".-2)"&'",&-"
6+$<@

!"#$%#&'(
%)$(*+),$-
128413;47"3!$%94+2"413,W
!-"%"32$-%#&/2"*$2%#&32"C$+12--&+'%/;"]"6%-"%?/2"#+"
#,&'<"%?+.#",&-"?.-&'2--"1$+>">./#&C/2"C2$-C2*#&32-@""
D%-"#,&-"%"-#$2'(#,"+$"62%<'2--Y

;?D0MS>/>())PT4L>*40UD0M>0@/04G>&L.4
-04*00@4(*4(4D'*>.>O0V4"
82$,%C-;"#,&-"6+./)"%//+6",&>"#+"/++<"
%#"?.-&'2--",+/&-#&*%//0;">+$2"
-#$%#2(&*%//0@""[.$#,2$>+$2;"#,&-"6%-"
*+./)"?2"23&)2'*2"-.CC+$#&'("#,2"
%)3&*2",2%$)"?21+$2B",2")&)'9#"'22)"
#+",&$2"%-">%'0"C2+C/2"+$"1&')"%"
C%$#'2$"?2*%.-2"+1"#,&-")&32$-2"-<&//"
-2#-@

+"6247"3!E

b,+6")+"P">%<2"&#Yc

6:"3+$C"E

b6,%#")+"62"6%'#Yc

;37";47"3!E
b6,%#")+2-"#,2"
*/&2'#"6%'#Yc

+6232$;"%-"62"*+'#&'.2)"#+")&("
)22C2$;"]"$232%/2)"%'"&>C+$#%'#"
C%##2$'@""2"6+./)"#,&'<"1$+>"
)&112$2'#"C+&'#-"+1"3&26-;"2%*,"
/2%)&'(",&>"#+")&112$2'#"*+'*/.-&+'-@
"
:,&-"$2C2%#2)"6&#,+.#"2')"%')"%-",&-"
>&')"1&//2)"6&#,"A.2-#&+'-;",2"
?2*%>2"*+'1.-2);"C$+($2--"-/+62);"
%')"1$.-#$%#&+'"1/%$2)@""]9-"-#$2'(#,"
6%-"%*#.%//0"*%.-&'(",&-"*,%//2'(2d

"bV'#&/"0+."!"#$%&'$%
()*+),*-+(,%*+),*-+(,;"
&#"6&//")&$2*#"0+.$"/&12"
%')"0+."6&//"*%//"&#"
1%#2@c""
4@S@"].'(
853>=;959
]"6%-".'%6%$2"+1",&-"C$&>%$0"&)2'#&#0"%')"6,%#"&#"
-,+./)"?2@""2")2-*$&?2)"#,2"$2-./#&'("#,+.(,#"
C%##2$'"%-"#,2"b2*,+"*,%>?2$-"+1"#,2">&')@c"

6:"3+$C"

+"6247"3!

;37";47"3!
+2"4"6284623RB":;"G"#,+.(,#-"2')/2--/0"?+.'*2)"
%$+.')"&'"]9-",2%)"6&#,+.#"%'0"*+'*/.-&+'@

123+4$;4$!"%+$+,W
!'"&)2'#&#0"&-",+6"0+."3&26"0+.$-2/1"%')"
#,2"?2,%3&+$-"#,%#"(+"%/+'("6&#,"&#@"":,&-"
%112*#-".-"-.?*+'-*&+.-/0;"%')"#0C&*%//0"#,2""
&')&3&).%/"&-'9#"%6%$2"+1"#,2&$"&)2'#&#0@
[+$"2H%>C/2;"0+.">%0"&)2'#&10"0+.$-2/1"%#"
,+>2"%-"%"b1%#,2$;c"6,&*,"0+.">%0"
%--+*&%#2"6&#,"?2&'("#,2"C$&>%$0"
?$2%)6&''2$"1+$"#,2"1%>&/0@"":,2$21+$2;"0+."
>&(,#"3&26"0+.$"*%$22$"%-"2H#$2>2/0"
&>C+$#%'#"#+"?2&'("%">2>?2$"+1"#,2"
1%>&/0@""
8$+?/2>-"%$&-2"6,2'"#,2$29-"%"(%C"+$"%"
>&-%/&('>2'#"?2#622'"$2%/&#0;"
2HC2*#%#&+'-;"%')"-2/1GC2$*2C#&+'@

!"#$%#&'(
%)$(*+),$-

+L>*4K(*4L>*4M''.4/(?*0E4#,&-"#%'(/2"
+1"#,+.(,#-"#,%#"$2-./#2)"&'",&-"-2'-2"
+1"*+'1.-&+'"%?+.#"6,&*,"6%-"#,2"
$&(,#"C+&'#"+1"3&26"#+"1+//+6@""
!(($2(%#2)"1+$"232$0")2*&-&+'"
232$0")%0;"#,&-"6%-"6,%#"6%-"
?2,&')",&-"*+>C%'09-"-#%('%#&+'@
D,%#9-"#,2"C+#2'#&%/",%$>Y""Q2-&)2-"
>%<&'("/&##/2"C$+($2--;"&>%(&'2"&1"]"
,%)"a.-#"-#.??+$'/0"=C+62$2)"
#,$+.(,="6&#,"%//"#,$22"&)2'#&#&2-@""
&-"#2%>"6+./)"?2""a.-#"%-"*+'1.-2)"
%?+.#"#,2"C$&+$&#&2-"%-",2"6%-@""P'"
#.$';"#,2"A.%/&#0"+1"6+$<")2/&32$2)"
#+"#,2"*/&2'#-"/&<2/0"6+./)"-.112$"%-"%"
$2-./#"%-"62//@
D&#,+.#"%"*/2%$"&)2'#&#0;",2"6+./)"
/%*<"#,2"*+'-&-#2'#"*/&2'#"-%#&-1%*#&+'"
&-"*$&#&*%/"#+"(2'2$%#&'("#,2"$2C2%#"
-%/2-"#,%#"%//"?.-&'2--2-"'22)"#+"?2"
-.-#%&'%?/2@
9;7<45;=
:,2"-+/.#&+'"6%-"#+"1&$-#;"C&'C+&'#",&-"C$&>%$0"&)2'#&#0"
%')"-2*+')/0;"%)3&-2",&>"+'"-#$%#2(&2-"#,%#"%//+6",&>"
6+./)"?2-#"/232$%(2"&#"#+">+32",&-"*+>C%'0"1+$6%$)@
FX*4DM0S0MM0J4D'>@.4'S4O>0K4.?M@0J4'?.4
.'4-04.L04/M0(.>O0V442">%)2"#,&-"
$2%/&`%#&+'"1$+>"*+%*,&'("2H2$*&-2-"
#,%#"%//+62)",&>"#+"$21/2*#"+'",&-"
$+/2G>+)2/-;"#,2"C2+C/2"&'",&-"&').-#$0"
#,%#",2"%)>&$2);"6,&*,",&'#2)"%#",&-"
C$212$$2'*2"%')"%/-+"(%32",&>"
*+'1&)2'*2"+'*2",2"$2%/&`2)"+#,2$-",%)"
/2)"#,2&$"?.-&'2--"&'"-&>&/%$"6%0-@

+"6247"3!

;37";47"3!
:,2"'2H#"-#2C"6%-"#+"-.((2-#">2#,+)-"
#+"1+-#2$"%')"-#$2'(#,2'"#,&-">&')-2#"
?+#,"&'"#,2"/+'("%')"-,+$#"#2$>@
:,2"/+'(G#2$>"-+/.#&+'-">2%'#"%"*,%'(2"
+1">&')-2#;"&'*/.)&'("%">2'#%/"
3&-.%/&`%#&+'"2H2$*&-2"#,%#"%//+62)",&>"
#+"*+'-*&+.-/0"=-#2C"&'#+="#,%#"$+/2@"":,&-"
#2*,'&A.2"6&#,"C$%*#&*2;"-.CC+$#2)"?0"
+#,2$"-&>C/2"$2>&')2$-"+32$"#&>2;"6+./)"
(&32",&>"*+'1&)2'*2"#+"1.//0"&>>2$-2"
,&>-2/1"&'"#,2"$+/2"+1"#,2"*$2%#&32@

6:"3+$C"

37$9%R"%+"G"?0")&-*+32$&'(",&-"'%#.$%/"&)2'#&#0;"
]"#,2'"*+./)"C$&+$&#&`2"#,2"%*#&3&#&2-"#,%#">+32)"
,&>"1+$6%$)"#,2">+-#@

12$624$!"%+$+,4$;4B";+W
&-#+$0",%-"-,+6'"?.-&'2--2-"#,$&32"6,2'"#,2"/2%)2$",%-"%"*/2%$"&)2'#&#0;"6,%#232$"#,%#"
>&(,#"?2@""P'"1%*#;"&#"*+./)"232'"%'0"+1"#,2"#,$22"C+&'#-"+1"3&26"#,%#"]",%)@
[+$"2H%>C/2;"5#232"]+?-"1%>+.-/0"/2)"!CC/2"6&#,"*$2%#&32")2-&(';"6,&/2"F&*,%2/"O2//"/2)"
%-"%"-%/2-"%')")&-#$&?.#&+'">%-#2$;"%')"PQF",%-"/+'("/232$%(2)"&#-"#2*,'&*%/"-#$2'(#,-@
!-"/+'("%-"?.-&'2--"/2%)2$-"^N"*+'1&)2'#/0"$2*+('&`2"#,2&$"C$&>%$0"&)2'#&#0"%')"eN"%/&('"
#,2&$"#2%>"#+"*+>C/&>2'#"&#;"*+>C%'&2-"*%'"-.**22)"6&#,"%"3%$&2#0"+1"&)2'#&#&2-@
37$9%"!4.'4;=66""!
U'*2"]")&-*+32$2)",&-"C$&>%$0"
&)2'#&#0"6%-"#,2"*$2%#&32;"
C$&+$&#&2-"?2*%>2"*/2%$;"%')",2"
6%-"%?/2"#+"%*,&232"#,2"$2-./#-"
,&-"?.-&'2--"'22)2)@

68R57"+";
5:8F"6+
6$&#2-"*+C0
2)&#-"*+C0
)2-&('-"62?-&#2
/2%$'-"-+1#6%$2

R'*.4>GG0J>(.0)PT4L04S'?@J4(@4
>GD'M.(@.4*L'M.Y.0MG4*')?.>'@B"#+"-2%$*,"
1+$"%"?.-&'2--"C%$#'2$@"":,$+.(,"*+%*,&'(;"
,2"$2%/&`2)"#,%#"#,2"%)3&*2"(&32'"?0",&-"
C22$-">&(,#"%*#.%//0"$.'"*+'#$%$0"#+",&-"
'%#.$%/"C2$-+'%/&#0;"6,&*,"6%-"#+",%32"
-+>2+'2"#+"#%/<"#+"6,2'">%<&'("%"
)2*&-&+'@

+"624
7"3!

;"77;
C$;$8%4+8
67$"%+
>%<2-"C&#*,
)$%1#-"C&#*,
6$&#2-"C$+C+-%/-

U'*2"%"-.&#%?/2"C%$#'2$"6%-"1+.');",&-"
C$212$$2)"&)2'#&#0"6+./)"?2"1.$#,2$"
-#$2'(#,2'2);"%-"+#,2$"C+&'#-"+1"3&26"
6+./)"?2">2'#%//0"b+.#-+.$*2)c"-+",2"
*+./)"1+*.-"+'")$&3&'("#,2"?.-&'2--"
1+$6%$)"1$+>"%"-&'(/2"C+&'#"+1"3&26@
:,2"<20"#+",&-".'?/+*<&'(",&-"C$+($2--"
6%-")&-*+32$&'(",&-"C$&>%$0"&)2'#&#0"%')"
#,2'"*$2%#&'("*.-#+>&`2)"-+/.#&+'-"%$+.')"
#,%#@

?.&/)-"'26"$2/%#&+'-,&C%##2')-"232'#3&-&#-"*/&2'#-

;37";4
7"3!

67"3:7,
;"+;
C$;$8%
/++<-"1+$"C%$#'2$/++<-"1+$"+CC+$#.'&#&2)2-&('-"'26"($%C,&**$2%#2-"*+'*2C#&'-C&$2-"#2%>
)2#2$>&'2-"-#$%#2(0
-2#-"3&-&+'"

6:"3+$C"

!"#$%#&'(
%)$(*+),$-
B**8:31A

4,2*<&'("&'"f">+'#,-"/%#2$;"62"-%6",&-"-#%$#.C"6%-"
-.**2--1.//0"($+6&'("%')"]"6%-"6+$<&'("+'"%"
'.>?2$"+1"*$2%#&32"C$+a2*#-"1+$",&-"*/&2'#-@
F4G(J04*'G04*)>&L.4.K0(Z*4(.4K'MZ4.'4
S'*.0M4L>*4/M0(.>O04>J0@.>.PV""[+$"
2H%>C/2;",2"62'#"?%*<"#+"C2'"%')"
C%C2$"#+")$%1#"&)2%-">+$2"A.&*</0"%')"
1$22/0@""2"%/-+"a+&'2)"%"($+.C"+1"
*$2%#&32"2'#$2C$2'2.$-"#+",2%$">./#&C/2"
C+&'#-"+1"3&26;")&-*.--"*,%//2'(2-;"%')"
-,%$2"&)2%-@

[8?M4*0**>'@*4
&(O04GP4S'04(4
@(G0T4(@J4.'')*4.'4
G(Z04D0(/0V

522>&'(/0"+/)G1%-,&+'2)"%')"/+6G#2*,;"
#,2"&>C+$#%'#"#,&'("6%-"#,%#"#,2-2"
-.((2-#&+'-"62$2"#%&/+$2)"#+"]9-"
C2$-+'%/"*,%//2'(2"%')"%//+62)",&>"
*+'#&'.2"#+"($+6@

#:8R4F3R";E
P"$2%//0"%CC$2*&%#2)"#,2"
*+%*,&'(@""D,%#"$2%//0">%)2"
#,2"?&((2-#")&112$2'*2"6%-"
-&>C/0".')2$-#%')&'("6,%#">0"
*,%//2'(2"6%-"L>2'#%/"2*,+2-N@""
P9>"-.$2"+'2"+1"#,2"$2%-+'-"P"
-#+CC2)"($+6&'("?20+')"%"
*2$#%&'"C+&'#"6%-"#++">.*,"
2*,+;"'+"#$%*#&+'@"
!/-+;"6,%#"-#.*<"+.#"6%-"#,2"
&>>2)&%#2/0"%*#&+'%?/2"
-+/.#&+'-"-.((2-#2)"/&<2",%3&'("
>+$2"C22$")&-*.--&+'-"%')"
#,&'<&'("6&#,"&'<@""
U.$"-2--&+'-"(%32">0"1+2"%"
'%>2"%')"#++/-"#+">%<2"C2%*2@""
:,%'<"0+.dc

:";=7+;

36+$8%;

R$%!;"+

5":;8%37$^"!4
;87=+$8%
"C":,462377"%9"4$;4=%$]="4
#+">%<2"($2%#"*,%'(2;"C2$-+'%/&`2"2%*,"
-+/.#&+'-"1+$"2%*,".'&A.2"*,%//2'(2@
9<CC320
:,&-"*%-2"-#.)0"C$+3&)2)"%'"2H%>C/2"+1",+6"
*+%*,&'(">%0"?2".-21./"1+$"*$2%#&32"C$+12--&+'%/-"#+"
.'*+32$">2'#%/"+?-#%*/2-"%')"$2*2&32"(.&)%'*2"#+"
%*,&232"#,2&$")2-&$2)"$2-./#-@"
63;"4B36<9:8=%!E
]%>2-;"%"#%/2'#2)")2-&('"
C$+12--&+'%/;"-#$.((/2)"#+"/%.'*,"
,&-"'26"?.-&'2--"%')")&)'9#"<'+6"
6,0@

!$;68C":,E4
&-"*%$22$"-C%''2)"I")&-#&'*#"
$+/2-;"#,2"*$2%#&32;"#,2"-%/2-"/2%)"
%')"#2*,'&*%/"/2%)@""W+6"%-"#,2"
1&$>9-"1+.')2$;",2"-#$.((/2)"#+"
a.((/2"#,2-2"$+/2-"&'",&-",2%)@""
:,&-"/2)"#+"*+'1.-&+'"%')"&'"#.$';"
,&-"/%*<"+1"C$+).*#&3&#0@

!$39%8;$;E4
2"6%-".'%6%$2"+1",&-"C$&>%$0"
&)2'#&#0;"#,2"C+&'#"+1"3&26"#,%#"
6%-",&-">+-#"'%#.$%/"-#$2'(#,@""

;87=+$8%E"
Q0"-.((2-#&'("-+/.#&+'-"#,%#"
%//+62)"]"#+"1+*.-"%')"1+-#2$",&-"
'%#.$%/"*$2%#&32"&)2'#&#0;"C$&+$&#&2-"
?2*%>2"+?3&+.-"#+",&>"%')",&-"
-#%$#.C"6%-"%?/2"#+"2/23%#2"&#-"
C2$1+$>%'*2@

<",4+3<"313,;
G"Q.-&'2--"/2%)2$-">.-#"?2"*/2%$"
%?+.#"#,2&$"&)2'#&#0"#+"%)3+*%#2"%"
)21&'&#&32")&$2*#&+'"%')"$%//0"#,2"
#2%>"?2,&')"%"*$0-#%/"*/2%$"3&-&+'@
G"[+$"*,%'(2"#+"?2"C2$>%'2'#;"62"
>.-#"2H%>&'2"#,2".')2$/0&'("
>&')-2#-;"%')"?.&/)"*.-#+>&`2)"
-+/.#&+'-"%$+.')"#,%#"-C2*&1&*"
-&#.%#&+'@

bX+.$"3&-&+'-"6&//"?2*+>2"*/2%$"+'/0"6,2'"
0+."*%'"/++<"&'#+"0+.$"+6'",2%$#@"
D,+"/++<-"+.#-&)2;")$2%>-g"
6,+"/++<-"&'-&)2;"%6%<2-@c"
4@S@"].'(

!"#$%#&'(
%)$(*+),$-
3??751345;=

732$0"*,%//2'(2"&-".'&A.2g"XUVT"*,%//2'(2"&-".'&A.2@""
:,2-2"-22>&'(/0"-&>C/2"A.2-#&+'-"%$2"%"(++)"
-#%$#&'(GC+&'#"#+"$21/2*#"+'"0+.$"C%$#&*./%$"-&#.%#&+'@
#8:4B";+4:";=7+;T4+3<"4+2"4+$R"4+84+2$%<41$+245"%43%!4535":V
L^N"D,%#"$+/2")+"0+."&)2%//0")2-&$2"#+"C/%0"&'"0+.$"?.-&'2--Y""D,0Y

LeN"D,%#"&-"-#+CC&'("0+."1$+>"C/%0&'("#,%#"$+/2"'+6Y""D,0Y

LIN"O+"0+."-&'*2$2/0"6%'#"#+"#$%'-1+$>"0+.$-2/1"&'#+"#,%#"$+/2Y""D,0Y

LhN"D,%#"6&//"0+.")+"?0"#,2"2')"+1"#+)%0"#+">%<2"->%//"M"-&('&1&*%'#"*,%'(2Y

F+$2"-C%*2"1+$"0+.$"($2%#"&)2%-"+'"#,2"/%-#"C%(2@""[+$"122)?%*<"+$"#+")&-*.--"6&#,"%"Z2#9-"F%<2"ST7!:d"
*+%*,;"2>%&/"0+.$"%'-62$-"#+"?$&%'i/2#->%<2($2%#@*+>@
3:;<4(1;31/5=>
4+%*,&'("&-"-&>C/0"%"*+'32$-%#&+'")2-&('2)"#+"
,2/C"*/&2'#-"%*,&232"($2%#2$"(+%/-@
F%'0"*/&2'#-"6%'#"*+%*,&'("?2*%.-2"#,20"122/"1$.-#$%#2)"
%?+.#"#,2&$"*,%//2'(2-;"*+'1.-2)"%?+.#"#,2"?2-#"*+.$-2"+1"
%*#&+';"+$",%32"%"-2$&+.-"-2'-2"+1".'2%-2"%?+.#"#,2&$"1.#.$2@
:,$+.(,"%"-2$&2-"+1"-#$%#2(&*"*+'32$-%#&+'-;"#,2"*+%*,"(.&)2-"
#,2"*/&2'#"#+"&//.>&'%#2"?/&')G-C+#-;"2HC%')"C+--&?&/&#&2-"%')"
*$2%#2"%*#&+'"C/%'-"#+"%*,&232"#,2&$")2-&$2)"(+%/-@"

B"%"#$+;48#468362$%9
J"&'*$2%-2)"C2$1+$>%'*2
J"*$2%#&32"*+'1&)2'*2
J"I$)"C%$#0"C2$-C2*#&32
J"2>+#&+'%/"-.CC+$#
J",&(,2$"-2/1G%6%$2'2-J"C2%*2"+1">&')

:,2"*+%*,&'("-2--&+'-"C$+3&)2"#,2"*/&2'#"%"-%12"-C%*2"6&#,"
I$)"C%$#0"C2$-C2*#&32"#+"6+$<"#,$+.(,"#,2&$"*,%//2'(2-;"
.')2$-#%')"#,2&$"122/&'(-"%')")&-*+32$"'26"-+/.#&+'-@

123+434+,5$637468362$%945:86";;4$;47$<"

=%!":;+3%!
*>.?(.>'@

!"#$%"
&'()*

;=558:+4A4#""!B36<

$!"%+$#,
'-*.(/)0*

!"C"785
(/.>'@4D)(@

+3<"436+$8%

./0(12*3456*(7*38*29
:,20"%$2"#,2"+'2-"*$2%#&'("+.$"1.#.$2;"#%*</&'("=1+$"#,2"1&$-#"
#&>2"232$="*,%//2'(2-"%')"%&>&'("#+"%*,&232"?&("$2-./#-@
+2";"46:"3+$C";4$%67=!"E
G"4+$C+$%#2"K&-&+'%$&2-"%')"K2#2$%'G"F%$<2#&'("%')"!)32$#&-&'("7H2*.#&32G"7'#$2C$2'2.$-"L-2$&%/;"-+/+"M"'26?&2-N
G"!$#&-#-;"D$&#2$-;"O2-&('2$G"8$+).*#"P''+3%#&+'"F%'%(2$-

:,20"%//"%/-+"-,%$2)"#,&-".'&A.2"*,%//2'(2B""#,2"
)+.?#;"12%$"%')"?/.$$2)"#,&'<&'("#,%#"+1#2'"
%**+>C%'&2-"#%<&'("+'"'26"*,%//2'(2-"%')"
)+&'("#,&'(-"#,%#",%32"'232$"?22'")+'2"?21+$2@
D2".')2$-#%')"#,&-"?2*%.-2"62E32"(+'2"#,$+.(,"
&#"+.$-2/32-"%')",%32"1&(.$2)"%"6%0"#+",2/C"
*$2%#&32"/2%)2$-"+32$*+>2"#,+-2"+?-#%*/2-"%')"
%*,&232"%(%&'@

!"#$%#&'(
%)$(*+),$-
C**4(7*4!9(C3A*(>2*34"
Q$&%'"/2%)-"#2%>-"#+"ST7!:"?0"*$2%#&'("'26"
C+--&?&/&#&2-d
!-"%"*$2%#&3&#0"#$%&'2$"%')"*+%*,;",2"ZUK75"&''+3%#&+'"M"
2'#$2C$2'2.$-,&C@":,2"+'/0"#,&'("?2##2$"&-"$2%//0"#%<&'("
!4:PUW"#+"*+'32$#"*$2%#&32"-C%$<-"&'#+"C+62$1./"1/%>2-@

B:$3%4+3R
*$2%#&3&#0"*%#%/0-#

U$&(&'%//0"1$+>"W26"X+$<;"Q$&%'">+32)"#+"5,%'(,%&"&'"e__j"
#+")$&32"#,2"1%'#%-#&*"*,%'(2"#,%#"&-",%CC2'&'("&'"4,&'%"M"#,2"
6+$/)@""2"-22-"%"'2%$"1.#.$2"6,2$2"($2%#"PWWUK!:PUW"
*+'#&'+.-/0"*+>2-"1$+>"4,&'%;"%')">%<2-"#,2"6+$/)"232'"
?2##2$d
D%'#"#+")&-*.--"ST7!:Y""?$&%'i/2#->%<2($2%#@*+>

[$+>"5,%'(,%&"(22<"#+"(/+?%/"*,%'(2>%<2$;"W&."Z2&"
*/2%$/0"-22-"?+#,"#,2"W77O"1+$"*+>C%'&2-"&'"4,&'%"%')"#,2"
O75PT7"1$+>"&#-"C2+C/2"1+$"-+*&%/"&''+3%#&+'@

%$=47"$

-+*&%/"*,%'(2>%<2$

:,2"+'/0"6%0"#+"-.**22)"&'#+"#,2"1.#.$2"&-"#+")2-&('"
+$(%'&`%#&+'-"6&#,"7!T:"#,%#"-&'*2$2/0"1+*.-"+'"#,2"I8-B"
C/%'2#;"C2+C/2;"%')"C$+1&#-@
:+">%<2"#,%#",%CC2';",2"?2/&232-"62">.-#")232/+C"#,2"'2H#"
(2'2$%#&+'"+1"/2%)2$-"&'"4,&'%g"C2+C/2"6,+"*%'"#,&'<"
*$2%#&32/0;"/2%)"C%--&+'%#2/0"%')"%*,&232"(/+?%//0@
O+"0+.",%32",2%$#Y""'&.@/2&i/2#->%<2($2%#@*+>

70.X*4R(Z049M0(._4>*4(4/M0(.>O>.P4/'@*?).(@/P4
S'M4&M'K>@&4.0(G*T40GD'K0M>@&4.0(G*4.'4
)0(J4.LM'?&L4&M0(.4>@@'O(.>'@_
123+41"4!8
&''+3%#&+'"*+'-./#&'(
2'#$2C$2'2.$-,&C"*+%*,&'(
&'-C&$%#&+'%/"-C22*,21%*&/&#%#&'("?$%&'-#+$>*$2%#&32G#,&'<&'("#$%&'&'(
666@/2#- >%<2 ($2%#@*+>
"

!"#$%#&'(
%)$(*+),$-

"

D2"&>%(&'2"%"'2%$"1.#.$2"6,2$2"#,2"6+$/)"
?2'21&#-;"2HC2*#-"%')"$2-C2*#-"#,2"bST7!:c"
#,%#"*+>2-"1$+>"4,&'%@""bS$2%#c"&-"6,%#"62"
*%//"#,2"&)2%-"#,%#">+32"#,2"6+$/);"C$+).*#-"
#,%#"*,%'(2"/&32-;""%')"-2$3&*2-"#,%#")2/&(,#"
#,2"*.-#+>2$@
!-"#2*,'+/+(0"*+'#&'.2-"#+")&-$.C#"&').-#$&2-"
&'#+"#,2"1.#.$2;"232$0+'2">.-#",%32"#,2"-<&//-"
#+"*+'*2C#.%/&`2"%')"2H2*.#2"($2%#d
b[&(,#&'("1+$"&)2'#&#0"&-"-+>2#,&'("#,%#"&-"32$0">.*,"&'">0"/&12@c
F+3&2"O&$2*#+$;"!'("Z22"

=;4*9

666@/2#- >%<2 ($2%#@*+>
"

"
!"#$#%&$'&(#&)$*+$,*-)$.&/(0
!"#$%&'($)%($&*+,(-.
,*-$1(*2$2%*$,*-$3)&
3(4$,*-$1(*2$2%3#$,*-$23(#56$
73*$89-

More Related Content

PDF
Arduino notebook
PDF
Arduino notebook v1-1
KEY
Materializing Energy
PDF
Vietnam Online Travel Behaviors
PDF
Locality in long-distance phonotactics: evidence for modular learning
PDF
Eiropas Brīvprātīgā darba gada 2011 ceļojošās tūres Latvijas posma programma
PDF
Fachada - O verdadeiro cartão de visita de uma loja. Artigo para a Edição 452...
PDF
Stefan Melesko - Branschens strukturomvandling, Nycketalsdagarna 2014
Arduino notebook
Arduino notebook v1-1
Materializing Energy
Vietnam Online Travel Behaviors
Locality in long-distance phonotactics: evidence for modular learning
Eiropas Brīvprātīgā darba gada 2011 ceļojošās tūres Latvijas posma programma
Fachada - O verdadeiro cartão de visita de uma loja. Artigo para a Edição 452...
Stefan Melesko - Branschens strukturomvandling, Nycketalsdagarna 2014

What's hot (17)

PDF
Cv dott.ssa maria rosaria pellegrino(mag.13). doc
PDF
8 Steps to Maximize Your Financial Aid Package
PDF
Innovations democra tic-document-veille-slideshare
PDF
Vietnamese concerns on the environment issues
PDF
How VIetnamese go back to their hometown
PDF
Good Informatics Practices Business Model For Cloud
PDF
Survey about Vietnamese exercise behaviors
PDF
Essentials of Ramadan
PDF
Essentials of ramadan
PDF
YouTube popularity in Vietnam
PDF
Limites et perspectives du cinéma d'horreur français
PDF
52 ways to_lose_weight_all_year
PDF
Observatoire des taxes foncières - Période 2012 / 2017
PDF
PDF
Kuwait - Introduction
PDF
Self Optimizing transactional data grids for elastic cloud environments
PDF
Rachel Greenstadt: Security and Virtualized Environments: An Overview
Cv dott.ssa maria rosaria pellegrino(mag.13). doc
8 Steps to Maximize Your Financial Aid Package
Innovations democra tic-document-veille-slideshare
Vietnamese concerns on the environment issues
How VIetnamese go back to their hometown
Good Informatics Practices Business Model For Cloud
Survey about Vietnamese exercise behaviors
Essentials of Ramadan
Essentials of ramadan
YouTube popularity in Vietnam
Limites et perspectives du cinéma d'horreur français
52 ways to_lose_weight_all_year
Observatoire des taxes foncières - Période 2012 / 2017
Kuwait - Introduction
Self Optimizing transactional data grids for elastic cloud environments
Rachel Greenstadt: Security and Virtualized Environments: An Overview
Ad

Viewers also liked (20)

PDF
Tom Krcha & Petr Pecháček: Adobe rocks! Flash a HTML5
PDF
Future role of mobile launch event - istanbul - 4 october 2011
PPT
What is this MLE all about?
PDF
National Procurement Framework for Telecare / Telehealth – Experience, Lesson...
PDF
Srch2 event-analytics
PDF
Military Coaching Transcript
ODP
E-Portfolio in the NZ School Sector
PDF
About Brightspark Ventures - May 2016
PPTX
Brands and packaging in europe for thursday pm stima
PDF
Mastermind for Startup Growth
PPTX
Startup Investor Workshop (Intermediate Session) | Brightspark Ventures and O...
PDF
BRAND 2.0 - CRM среща WEB 2.0 и SEO
PPTX
Trend spot `if shes crying shes buying
PDF
"the FUTURE of WORK" by Let's Make Great!
PDF
Brand Touch - Value Innovation
PDF
Lets Make Great! an introduction to China's creativity consultancy
PPTX
Digital signage в Моловете
PDF
Human Center Design IDEO
PDF
The 7 Elements of a Perfect Social Media Campaign
Tom Krcha & Petr Pecháček: Adobe rocks! Flash a HTML5
Future role of mobile launch event - istanbul - 4 october 2011
What is this MLE all about?
National Procurement Framework for Telecare / Telehealth – Experience, Lesson...
Srch2 event-analytics
Military Coaching Transcript
E-Portfolio in the NZ School Sector
About Brightspark Ventures - May 2016
Brands and packaging in europe for thursday pm stima
Mastermind for Startup Growth
Startup Investor Workshop (Intermediate Session) | Brightspark Ventures and O...
BRAND 2.0 - CRM среща WEB 2.0 и SEO
Trend spot `if shes crying shes buying
"the FUTURE of WORK" by Let's Make Great!
Brand Touch - Value Innovation
Lets Make Great! an introduction to China's creativity consultancy
Digital signage в Моловете
Human Center Design IDEO
The 7 Elements of a Perfect Social Media Campaign
Ad

Similar to QUIETING THE ECHOES - a case study for creatives (20)

PDF
Arduino Programming Notebook
PDF
Arduino notebook v1-1
PDF
Arduino notebook
PDF
Ico corporate presentation en
PDF
Oisin Lunny OpenMarket IoF National Convention 2014
PDF
Nearby Startup Pitch for SUU 2013 conference
PDF
925 W. Jackson Case Study_DSK
PDF
Startershandboek
PDF
Ebook isu isu sentral islam liberal
PPT
De webmaster is niet meer (beknopte versie)
PDF
Blooms verbs and assessment types
PDF
Portefólio Joana Dinis Ferreira
PDF
Cv dott.ssa maria rosaria pellegrino(mag.13). doc
PDF
Pet stain removal fort lauderdale with the best carpet cleaning company
PDF
2010 UCLA State Farm Plans Book
PDF
Guardian Changing Media Summit - Mobile In Focus
PDF
Rocket Profile (Pan-Africa)
PDF
Neal Lesh
PDF
Mailings Sublevación de Abril
PDF
Prez et references delphine monnier
Arduino Programming Notebook
Arduino notebook v1-1
Arduino notebook
Ico corporate presentation en
Oisin Lunny OpenMarket IoF National Convention 2014
Nearby Startup Pitch for SUU 2013 conference
925 W. Jackson Case Study_DSK
Startershandboek
Ebook isu isu sentral islam liberal
De webmaster is niet meer (beknopte versie)
Blooms verbs and assessment types
Portefólio Joana Dinis Ferreira
Cv dott.ssa maria rosaria pellegrino(mag.13). doc
Pet stain removal fort lauderdale with the best carpet cleaning company
2010 UCLA State Farm Plans Book
Guardian Changing Media Summit - Mobile In Focus
Rocket Profile (Pan-Africa)
Neal Lesh
Mailings Sublevación de Abril
Prez et references delphine monnier

Recently uploaded (20)

PDF
Hindu Circuler Economy - Model (Concept)
PDF
20250805_A. Stotz All Weather Strategy - Performance review July 2025.pdf
PPTX
Amazon (Business Studies) management studies
PPTX
Belch_12e_PPT_Ch18_Accessible_university.pptx
PDF
Reconciliation AND MEMORANDUM RECONCILATION
PDF
Leading with Vision_ How Mohit Bansal Is Shaping Chandigarh’s Real Estate Ren...
PDF
Unit 1 Cost Accounting - Cost sheet
PPT
340036916-American-Literature-Literary-Period-Overview.ppt
PDF
A Brief Introduction About Julia Allison
PPTX
Probability Distribution, binomial distribution, poisson distribution
PDF
MSPs in 10 Words - Created by US MSP Network
PDF
pdfcoffee.com-opt-b1plus-sb-answers.pdfvi
PPT
Data mining for business intelligence ch04 sharda
PDF
Laughter Yoga Basic Learning Workshop Manual
DOCX
Business Management - unit 1 and 2
PDF
Business model innovation report 2022.pdf
PPTX
5 Stages of group development guide.pptx
PDF
Ôn tập tiếng anh trong kinh doanh nâng cao
PDF
Stem Cell Market Report | Trends, Growth & Forecast 2025-2034
DOCX
unit 1 COST ACCOUNTING AND COST SHEET
Hindu Circuler Economy - Model (Concept)
20250805_A. Stotz All Weather Strategy - Performance review July 2025.pdf
Amazon (Business Studies) management studies
Belch_12e_PPT_Ch18_Accessible_university.pptx
Reconciliation AND MEMORANDUM RECONCILATION
Leading with Vision_ How Mohit Bansal Is Shaping Chandigarh’s Real Estate Ren...
Unit 1 Cost Accounting - Cost sheet
340036916-American-Literature-Literary-Period-Overview.ppt
A Brief Introduction About Julia Allison
Probability Distribution, binomial distribution, poisson distribution
MSPs in 10 Words - Created by US MSP Network
pdfcoffee.com-opt-b1plus-sb-answers.pdfvi
Data mining for business intelligence ch04 sharda
Laughter Yoga Basic Learning Workshop Manual
Business Management - unit 1 and 2
Business model innovation report 2022.pdf
5 Stages of group development guide.pptx
Ôn tập tiếng anh trong kinh doanh nâng cao
Stem Cell Market Report | Trends, Growth & Forecast 2025-2034
unit 1 COST ACCOUNTING AND COST SHEET

QUIETING THE ECHOES - a case study for creatives