Sunteți pe pagina 1din 68

(Estd.

u/s 3 of the UGC Act, 1956)


Padur, Kancheepuram District - 603 103.

DEPARTMENT OF MANAGEMENT
STUDIES

REGULATIONS, CURRICULUM
AND SYLLABUS
2013

M.B.A.
(AVIATION MANAGEMENT)
ACADEMIC REGULATIONS
(M.TECH./ M.B.A. / M.C.A.) (Full - Time / Part - Time)
(Effective 2013-14)

1. Vision, Mission and Objectives • Keeping pace with the ever changing
technological scenario to help our
1.1 The Vision of the Institute is "To make
students to gain proper direction to
every man a success and no man a
emerge as competent professionals
failure".
fully aware of their commitment to the
In order to progress towards the vision, society and nation.
the Institute has identified itself with a
mission to provide every individual with
• To inculcate a flair for research,
development and entrepreneurship.
a conducive environment suitable to
achieve his / her career goals, with a 2. Admission
strong emphasis on personality
2.1 The admission policy and procedure
development, and to offer quality
shall be decided from time to time by
education in all spheres of engineering,
the Board of Management (BOM) of the
technology, applied sciences and
Institute, following guidelines issued by
management, without compromising on
Ministry of Human Resource
the quality and code of ethics.
Development (MHRD), Government of
1.2 Further, the institute always strives India. The number of seats in each
branch of the (M.TECH / M.B.A. /
• To train our students with the latest and
M.C.A.) programme will be decided by
the best in the rapidly changing fields BOM as per the directives from Ministry
of Engineering, Technology, of Human Resource Development
Management, Science & Humanities. (MHRD), Government of India and
• To develop the students with a global taking into account the market
outlook possessing, state of the art demands. Some seats for Non Resident
skills, capable of taking up challenging Indians and a few seats for foreign
responsibilities in the respective fields. nationals shall be made available.
• To mould our students as citizens with 2.2 The selected candidates will be
moral, ethical and social values so as admitted to the (M.TECH / M.B.A. /
to fulfill their obligations to the nation M.C.A.) programme after he/she fulfills
and the society. all the admission requirements set by
the Institute and after payment of the
• To promote research in the field of
prescribed fees.
science, Humanities, Engineering,
Technology and allied branches. 2.3 Candidates for admission to the first
semester of the Master's Degree
1.3 Our aims and objectives are focused
Programme shall be required to have
on
passed an appropriate Degree
• Providing world class education in Examination recognized by Hindustan
engineering, technology, applied University.
science and management.

M.B.A AVIATION MANAGEMENT 3


2.4 In all matters relating to admission to l One credit for each laboratory practical
the (M.TECH / M.B.A. / M.C.A.). of three hours per week per semester.
Programme, the decision of the Institute
l One credit for 4 weeks of industrial
and its interpretation given by the
training and
Chancellor of the Institute shall be final.
l One credit for 2 hours of project per
2.5 If at any time after admission, it is found
week per semester.
that a candidate has not fulfilled any of
the requirements stipulated by the 3.4 For the award of degree, a student has
Institute, the Institute may revoke the to earn certain minimum total number of
admission of the candidate with credits specified in the curriculum of the
information to the Academic Council. relevant branch of study. The curriculum
3. Structure of the programme of the different programs shall be so
designed that the minimum prescribed
3.1 The programme of instruction will have
credits required for the award of the
the following structure
degree shall be within the limits specified
i) Core courses of Engineering / below.
Technology / Management.
Minimum
ii) Elective courses for specialization in Program prescribed
areas of student's choice
credit range
3.2 The minimum durations of the
M.Tech. (Full time / Part time) 75 - 85
programmes are as given below:
Program No. of Semesters M.B.A. (Full time / Part time) 85 - 95

M.Tech.(Full-Time) 4 M.C.A (Full time / Part time) 115 - 125

M.Tech.(Part -Time) 6
3.5 The medium of instruction, examination
M.B.A. (Full - Time) 4 and the language of the project reports
M.B.A. (Part - Time) 6 will be English.

M.C.A.(Full - Time) 6 4. Faculty Advisor

M.C.A.(Part -Time) 8 4.1 To help the students in planning their


courses of study and for getting general
Every (M.TECH / M.B.A. / M.C.A.) advice on the academic programme, the
programme will have a curriculum and concerned Department will assign a
syllabi for the courses approved by the certain number of students to a Faculty
Academic Council. member who will be called their Faculty
3.3 Each course is normally assigned Advisor.
certain number of credits. The following 5. Class Committee
norms will generally be followed in
assigning credits for courses. 5.1 A Class Committee consisting of the
following will be constituted by the Head
l One credit for each lecture hour per
week per semester of the Department for each class:

l One credit for each tutorial hour per (i) A Chairman, who is not teaching the
week per semester class.

M.B.A AVIATION MANAGEMENT 4


(ii) All subject teachers of the class. 6.2 GPA & CGPA
(iii) Two students nominated by the GPA is the ratio of the sum of the
department in consultation with the product of the number of credits Ci of
class. course "i " and the grade points Pi
earned for that course taken over all
The Class Committee will meet as often
courses "i" registered by the student
as necessary, but not less than three
to the sum of Ci for all "i ". That is,
times during a semester.
The functions of the Class Committee Σ& 3

will include: L L

*3$ = L

(i) Addressing problems experienced by Σ &L


L
students in the classroom and the
laboratories. CGPA will be calculated in a similar
(ii) Analyzing the performance of the manner, at any semester, considering
students of the class after each test all the courses enrolled from first
and finding ways and means of semester onwards.
addressing problems, if any. 6.3 For the students with letter grade I in
(iii) During the meetings, the student certain subjects, the same will not be
members shall express the opinions included in the computation of GPA and
and suggestions of the class students CGPA until after those grades are
to improve the teaching / learning converted to the regular grades.
process. 6.4 Raw marks will be moderated by a
6. Grading moderation board appointed by the
Vice-Chancellor of the University. The
6.1 A grading system as below will be final marks will be graded using an
adhered to. absolute grading system. The
Range Constitution and composition of the
of Marks Letter Grade Grade points moderation board will be dealt with
separately.
95-100 S 10
7. Registration and Enrollment
85 - 94 A 09
7.1 Except for the first semester,
75- 84 B 08 registration and enrollment will be done
in the beginning of the semester as per
65-74 C 07
the schedule announced by the
55-64 D 06 University.
50-54 E 05 7.2 A student will be eligible for enrollment
only if he/she satisfies regulation 10
< 50 U 00 (maximum duration of the programme)
I (Incomplete) -- and will be permitted to enroll if (i) he/
she has cleared all dues in the Institute,
Hostel & Library up to the end of the

M.B.A AVIATION MANAGEMENT 5


previous semester and (ii) he/she is not Min. No. of Max. No. of
debarred from enrollment by a Program
Semesters Semesters
disciplinary action of the University.
M.Tech (Full - time) 4 8
7.3 Students are required to submit
registration form duly filled in. M.Tech (Part - time) 6 10
8. Registration requirement M.B.A. (Full Time) 4 8
8.1 (i) A Full time student shall not register M.B.A. (Part Time) 6 10
for less than 16 credits or more than 26
credits in any given semester. M.C.A. (Full - Time) 6 12

8.1 (ii) A part time student shall not register M.C.A (Part -Time) 8 14
for less than 10 credits or more than 20
credits in any given semester. 11. Temporary discontinuation

8.2 If a student finds his/her load heavy in 11.1 A student may be permitted by the
any semester, or for any other valid Director(academic) to discontinue
reason, he/she may withdraw from the temporarily from the programme for a
courses within three weeks of the semester or a longer period for reasons
commencement of the semester with of ill health or other valid reasons.
the written approval of his/her Faculty Normally a student will be permitted to
Advisor and HOD. However the student discontinue from the programme only
should ensure that the total number of for a maximum duration of two
credits registered for in any semester semesters.
should enable him/her to earn the 12. Discipline
minimum number of credits per
12.1 Every student is required to observe
semester for the completed semesters.
discipline and decorum both inside and
9. Minimum requirement to continue outside the campus and not to indulge
the programme in any activity which will tend to bring
9.1 For those students who have not earned down the prestige of the University.
the minimum required credit prescribed 12.2 Any act of indiscipline of a student
for that particular semester examination, reported to the Director (Academic) will
a warning letter to the concerned be referred to a Discipline Committee
student and also to his parents so constituted. The Committee will
regarding the shortage of his credit will enquire into the charges and decide on
be sent by the HOD after the suitable punishment if the charges are
announcement of the results of the substantiated. The committee will also
university examinations. authorize the Director(Academic) to
10. Maximum duration of the recommend to the Vice-Chancellor the
programme implementation of the decision. The
student concerned may appeal to the
The minimum and maximum period for Vice-Chancellor whose decision will be
the completion of various programs are final. The Director (Academic) will report
given below. the action taken at the next meeting of
the Council.

M.B.A AVIATION MANAGEMENT 6


12.3 Ragging and harassment of women are condition that these students take prior
strictly prohibited in the University approval from the officer-in-charge. All
campus and hostels. such applications should be
13. Attendance recommended by the concerned HOD
and forwarded to Director (Academic)
13.1 A student whose attendance is less
within seven instructional days after the
than 75% is not eligible to appear for
programme/activity.
the end semester examination for that
semester. The details of all students 14. Assessment Procedure
who have attendance less than 75% will 14.1 The Academic Council will decide from
be announced by the teacher in the time to time the system of tests and
class. These details will be sent to the examinations in each subject in each
concerned HODs and Director semester.
(Academic).
14.2 For each theory course, the
13.2 Those who have less than 75% assessment will be done on a
attendance will be considered for continuous basis as follows:
condonation of shortage of attendance.
However a condonation of 10% in Duration
attendance will be given on medical Test / Exam Weightage of Test
reasons. Application for condonation Exam
recommended by the Faculty Advisor,
First Periodical Test* 10% 2 Periods
concerned faculty member and the
HOD is to be submitted to the Director Second Periodical Test* 10% 2 Periods
(Academic) who, depending on the
Model exam 20% 3 hours
merits of the case, may permit the
student to appear for the end semester Seminar/ Assignments/Quiz 20%
examination. A student will be eligible
for this concession at most in two End - semester examination 50% 3 Hours
semesters during the entire degree
programme. Application for medical * Best out of the two tests will be considered.
leave, supported by medical certificate 14.3 For practical courses, the assessment
with endorsement by a Registered will be done by the subject teachers as
Medical Officer, should reach the HOD below:
within seven days after returning from
leave or, on or before the last (i) Weekly assignment/Observation note
instructional day of the semester, book / lab records - weightage 60%.
whichever is earlier. (ii) End semester examination of 3 hours
13.3 As an incentive to those students who duration including viva - weightage 40%
are involved in extra curricular activities 15. Make up Examination/model
such as representing the University in examination
Sports and Games, Cultural Festivals,
and Technical Festivals, NCC/ NSS 15.1 Students who miss the end-semester
events, a relaxation of up to 10% examinations / model examination for
attendance will be given subject to the valid reasons are eligible for make-up
examination /model examination. Those

M.B.A AVIATION MANAGEMENT 7


who miss the end-semester 17. Declaration of results
examination / model examination
17.1 A candidate who secures not less than
should apply to the Head of the
50% of total marks prescribed for a
Department concerned within five days
course with a minimum of 50% of the
after he / she missed examination,
marks prescribed for the end semester
giving reasons for absence.
examination shall be declared to have
15.2 Permission to appear for make-up passed the course and earned the
examination / model exam will be given specified credits for the course.
under exceptional circumstances such
17.2 After the valuation of the answer scripts,
as admission to a hospital due to
the tabulated results are to be
illness. Students should produce a
scrutinized by the Result Passing
medical certificate issued by a
Boards of PG programmes constituted
Registered Medical Practitioner
by the Vice-Chancellor. The
certifying that he/she was admitted to
recommendations of the Result
hospital during the period of examination
Passing Boards will be placed before
/ model exam and the same should be
the Standing Sub Committee of the
duly endorsed by parent / guardian and
Academic Council constituted by the
also by a medical officer of the
Chancellor for scrutiny. The minutes
University within 5 days.
of the Standing Sub Committee along
16. Project evaluation with the results are to be placed before
the Vice-Chancellor for approval. After
16.1 For Project work, the assessment will
getting the approval of the Vice-
be done on a continuous basis as
Chancellor, the results will be published
follows:
by the Controller of Examination/
Review / Examination Weightage Registrar.
First Review 10% 17.3 If a candidate fails to secure a pass in
a course due to not satisfying the
Second Review 20%
minimum requirement in the end
Third Review 20% semester examination, he/she shall
register and re-appear for the end
End semester semester examination during the
Examination 50% following semester. However, the
For end semester exam, the student sessional marks secured by the
will submit a Project Report in a format candidate will be retained for all such
specified by the Director (Academic). attempts.
The first three reviews will be conducted 17.4 If a candidate fails to secure a pass in
by a Committee constituted by the a course due to insufficient sessional
Head of the Department. The end - marks though meeting the minimum
semester examination will be conducted requirements of the end semester
by a Committee constituted by the examination, wishes to improve on his/
Controller of Examinations. This will her sessional marks, he/she will have
include an external expert. to register for the particular course and

M.B.A AVIATION MANAGEMENT 8


attend the course with permission of the CGPA ≥ 8.0 : First Class with distinction
HOD concerned and the Registrar. The 6.5 ≤ CGPA < 8.0 : First Class
sessional and external marks obtained 5.0 ≤ CGPA < 6.5 : Second Class.
by the candidate in this case will
replace the earlier result. 19.2 (i)Further, the award of 'First class with
distinction' is subject to the candidate
17.5 A candidate can apply for the revaluation becoming eligible for the award of the
of his/her end semester examination degree having passed the examination
answer paper in a theory course within in all the courses in his/her first
2 weeks from the declaration of the appearance within the minimum
results, on payment of a prescribed fee duration of the programme.
through proper application to the
Registrar/Controller of Examinations (ii) The award of 'First Class' is further
through the Head of the Department. subject to the candidate becoming
The Registrar/ Controller of Examination eligible to the award of the degree having
will arrange for the revaluation and the passed the examination in all the
results will be intimated to the courses within the below mentioned
candidate concerned through the Head duration of the programme.
of the Department. Revaluation is not Program No. of Semesters
permitted for practical courses and for
project work. M.Tech.(Full-Time) 5

17.6 The weightage for internal marks in M.Tech.(Part -Time) 7


finalizing results and grades shall be
M.B.A. (Full - Time) 5
waived off after completion of 5
semesters. M.B.A. (Part - Time) 7
18. Grade Card M.C.A.(Full - Time) 7
18.1 After results are declared, grade sheet M.C.A.(Part -Time) 9
will be issued to each student, which
will contain the following details: (iii) The period of authorized discontinuation
of the programme (vide clause 11.1) will
(i) Program and branch for which the not be counted for the purpose of the
student has enrolled. above classification.
(ii) Semester of registration. 20. Transfer of credits
(iii) List of courses registered during the 20.1 Within the broad framework of these
semester and the grade scored. regulations, the Academic Council,
(iv) Semester Grade Point Average (GPA) based on the recommendation of the
transfer of credits committee so
(v) Cumulative Grade Point Average constituted by the Chancellor may
(CGPA). permit students to earn part of the credit
19. Class / Division requirement in other approved
institutions of repute and status in the
19.1 Classification is based on CGPA and country or abroad.
is as follows:
21. Eligibility for the award of (M.TECH
/ M.B.A. / M.C.A.) Degree

M.B.A AVIATION MANAGEMENT 9


21.1 A student will be declared to be eligible iv) has no disciplinary action pending
for the award of the (M.TECH / M.B.A. against him/her.
/ M.C.A.). Degree if he/she has
The award of the degree must be
i) registered and successfully credited all recommended by the Academic Council
the core courses, and approved by the Board of
Management of the University.
ii) successfully acquired the credits in the
different categories as specified in the 22. Power to modify
curriculum corresponding to the
22.1 Notwithstanding all that has been stated
discipline (branch) of his/her study
above, the Academic Council has the
within the stipulated time,
right to modify any of the above
iii) has no dues to all sections of the regulations from time to time subject
Institute including Hostels, and to approval by the Board of
Management.

M.B.A AVIATION MANAGEMENT 10


HINDUSTAN UNIVERSITY
HINDUSTAN INSTITUTE OF TECHNOLOGY AND SCIENCE
DEPARTMENT OF MANAGEMENT STUDIES

FULL - TIME MBA (AVIATION MANAGEMENT)


CURRICULUM & SYLLABUS

SEMESTER - I
Sl. Course Course Title L T P C TCH
No. Code
Theory
1 PAT101 Airline and Airport Management 3 0 0 3 3
2 PBA101 Data Analysis for Business Decisions* 3 1 0 4 4
3 PBA102 Economic Analysis for Business Decisions* 3 0 0 3 3
4 PBA104 Organizational Behaviour * 3 0 0 3 3
5 PBA106 Accounting for Management * 3 1 0 4 4
6 PAT102 Airline Marketing Management 3 0 0 3 3
7 PBA204 Human Resources Management 3 0 0 3 3
Practical
8 PBA208 Business Application Software * 0 0 3 1 3
Total 24 26

SEMESTER - II
Sl. Course Course Title L T P C TCH
No. Code
Theory
1 PAT201 Airline Operation and Scheduling ** 3 1 0 4 4
2 PAT202 Airline Finance 3 1 0 4 4
3 PAT203 Aviation Law 3 0 0 3 3
4 PAT204 Aviation Safety Management and Accident Investigations ** 3 0 0 3 3
5 PBA206 Strategic Management * 3 0 0 3 3
6 PBA103 Total Quality Management * 3 0 0 3 3
7 PBA207 Research Methods in Business * 3 0 0 3 3
8 PBA105 Communication Skills and Business Correspondence * 3 0 0 3 3
Practical
9 PBA209 Personality Development/ Seminar/ GD/ Case Study 0 0 2 1 2
TOTAL 27 28

M.B.A AVIATION MANAGEMENT 11


THEORY-ELECTIVE (OFFERED TO OTHER PG STUDENTS OF UNIVERSITY)
Sl. Course Course Title L T P C TCH
No. Code
Theory
1 PAT203 Aviation Law 3 0 0 3 3
2 PBA207 Research Methods In Business 3 0 0 3 3

SUMMER SEMESTER (6 WEEKS)


PBA303 SUMMER PROJECT
Project report of the Summer Project is to be submitted by the students within 30 days from the
commencement of the 3rd semester. Evaluation report should be sent to the Controller of Examinations
by the HOD through the Principal, before the last working day of the 3rd semester.

SEMESTER III
Sl. Course Course Title L T P C TCH
No. Code
Theory
1 PBA301 Airline Operation and Scheduling ** 3 1 0 4 4
2 PBA302 Airline Finance 3 1 0 4 4
3 PAT703 Aviation Law 3 0 0 3 3
4 PAT704 Aviation Safety Management and Accident Investigations ** 3 0 0 3 3
5 Electives III 3 0 0 3 3
6 Electives IV 3 0 0 3 3
7 Electives V 3 0 0 3 3
8 Electives VI 3 0 0 3 3
Practical
9 PBA303 Summer Project Work - - 4 2 4
10 PBA304 Seminar II ( Emerging Trends in Management -
Case Study Analysis and Seminar) 0 0 2 1 2
Total 27 30
*** ELECTIVES OFFERED TO OTHER PG STUDENTS OF UNIVERSITY

M.B.A AVIATION MANAGEMENT 12


LIST OF ELECTIVES
Sl. Course Course Title L T P C TCH
No. Code
Theory
1 PAT701 Aircraft Maintenance Management ** 3 0 0 3 3
2 PAT702 Aircraft Rules and Regulation C.A.R I and II 3 0 0 3 3
3 PAT703 Airline Economics 3 0 0 3 3
4 PAT704 Airline Advertising and Sales Promotion 3 0 0 3 3
5 PAT708 Customer Relationship Management * 3 0 0 3 3
6 PAT716 Insurance and Risk Management * 3 0 0 3 3
7 PAT723 Cross Cultural Management * 3 0 0 3 3
8 PAT705 Supply Chain Management 3 0 0 3 3
9 PAT706 E - Business 3 0 0 3 3

*Common for MBA ( General Management ) and MBA ( Aviation Management)


** Common for MBA ( Aviation Management ) and M. E ( Aircraft Maintenance )

SEMESTER IV
Sl. Course Course Title L T P C TCH
No. Code
1 PBA401 Project Work - - 24 12 24
TOTAL 12 24

M.B.A AVIATION MANAGEMENT 13


HINDUSTAN UNIVERSITY
HINDUSTAN INSTITUTE OF TECHNOLGY AND SCIENCE

M.B.A. AVIATION MANAGEMENT


SEMESTER - I
PAT101 AIRLINE AND AIRPORT MANAGEMENT
Credits 3
Goal
1. To familiarize the students with the overview of Airline and Airport management and its
institutional Framework.
2. To provide the knowledge of Airport planning, management and operations that is required to
begin an Airport management career.
Objectives
1. To Provide the knowledge on the History of Aviation ,Major Players in Airline Industry, Current
Trends and Challenges
2. To impart knowledge on Airport Planning ,Airport Operation and various Authorities involved in
Airport Management
3. To provide knowledge on the Meteorological Services, Environmental Regulation and Airport
fees, Rates and Charges.
4. To provide knowledge on Safety Regulation, Economic Regulation and Aviation Security.
5. To provide knowledge about the Air Traffic Control, Air Space and Navigational Aid.
Outcomes
1. It enables the students to understand the Aviation's History, its major players and it current
trends and challenges
2. It enables the students to do the Planning of an Airport and to perform operations involved in
the Airport.
3. It enables the students to know and interpret the Meteorological data's and to calculate the
Airport fees, Rates and Charges.
4. It enables the students to understand and adhere to the various Regulations involved Aviation
Industry.
5. It enables the students to understand about the Navigational and ATC control process.

M.B.A AVIATION MANAGEMENT 14


PAT101 AIRLINE AND AIRPORT MANAGEMENT
L T P C
3 0 0 3
Objective
To provide the knowledge of airport planning, management and operations that is required to begin an
airport management career.
UNIT I INTRODUCTION 9
History of aviation - organisation, global, social & ethical environment - history of aviation in india -
major players in the airline industry - swot analysis of the different airline companies in india - market
potential of airline industry in india - new airport development plans - current challenges in the airline
industry - competition in the airline industry - domestic and international from an indian perspective
UNIT II AIRPORT INFRASTRUCTURE AND MANAGEMENT 8
Airport planning - terminal planning design and operation - airport operations - airport functions -
organisation structure in an airline - airport authority of india - comparison of global and indian airport
management - role of aai -airline privatisation - full privatisation - gradual privatisation - partial privatisation
UNIT III AIR TRANSPORT SERVICES 12
Various airport services - international air transport services - indian scenario - an overview of airports
in delhi, mumbai, hyderabad and bangalore - the role of private operators - airport development fees,
rates, tariffs
UNIT IV INSTITUTIONAL FRAMEWORK 8
Role of dgca - slot allocation - methodology followed by atc and dgca -management of bilaterals -
economic regulations
UNIT V CONTROLLING 8
Role of air traffic control - airspace and navigational aids - control process - case studies in airline
industry - mumbai delhi airport privatisation - navi mumbai airport tendering process - 6 cases in the
airline industry
TOTAL : 45
TEXT BOOKS
1. Graham.a. Managing airports: an international perspective - butterworth - heinemann, oxford
2001.
2. Wells.a. Airport planning and management, 4th edition Mcgraw- Hill, london 2000.
REFERENCES
1. Doganis. R. The airport business routledge, london 1992
2. Alexender t. Wells, seth young, principles of airport management, mcgraw hill 2003
3. P s senguttavan fundementals of air transport management , excel books 2007
4. Richard de neufille, airport systems: planning, design and management, mcgraw-hill london
2007.
5.. Manual of aerodrome licensing of aai airports - aai website - freely downloadable - issue may
2010.

M.B.A AVIATION MANAGEMENT 15


PBA101 DATA ANALYSIS FOR BUSINESS DECISIONS
Credits: 4
GOAL
The main goal is to facilitate the students to have thorough knowledge in various Statistical techniques
and to apply the concepts in managerial decision making.
OBJECTIVES
1. The objective is to understand some basic terminology in probability, solve problems involving
calculation of simple, joint and conditional probabilities
2. The basic objective is to understand the sampling distributions of sample mean and proportion
and also various sampling techniques which are based on statistical principles.
3. The objective is to understand the concepts of hypothesis and the procedure involved in
testing them. The objective is also to study the various tests of significance like, F test, t
test, Chi-square test
4. The basic objective is to highlight the importance of non-parametric tests when the validity of
assumptions in tests of significance is doubtful.
5. The objective is to understand the relevance and applications of relationship between two
variables and to forecast one variable with the help of the other variable. The objective is also
to recognize and define different components of Time Series and to understand the importance
as well as the different methods of forecasting.
OUTCOMES
1. Students can facilitate Theorems and Laws of probabilities in business and managerial
situations.
2. Students will be able to determine appropriate sample size to estimate population mean or
proportion for a given level of accuracy and with prescribed level of confidence.
3. Students can analyse the two aspects of statistical inference, viz. "Estimation" and "Testing
of Hypothesis". Students will have a thorough knowledge on various test and will have a
clarity on which test to be applied in different situations
4. Students can easily differentiate between parametric and non-parametric tests and will be
able to design, conduct and evaluate some selected non-parametric tests.
5. Students will be able to measure the correlation between two variables and use the regression
coefficients sensibly to make forecasts. Also they can acquaint with various quantitative
forecasting methods that are used in a business environment.

M.B.A AVIATION MANAGEMENT 16


PBA101 DATA ANALYSIS FOR BUSINESS DECISIONS
L T P C
3 1 0 4
OBJECTIVE:
1. To provide an insight into statistical reasoning with an emphasis on concepts and applications
relevant to business decision making.
UNIT I DISCRETE PROBABILITY 12
Basic definitions and rules for probability, conditional probability independence of events, Baye's
theorem, and random variables, Mathematical Expectation.
UNIT II SAMPLING DISTRIBUTION 12
Introduction to sampling distributions, sampling distribution of mean and proportion, application of
central limit theorem, sampling techniques.
UNIT III TESTING OF HYPOTHESIS 12
Hypothesis testing: one sample and two sample tests for means and proportions of large samples
(z-test), one sample and two sample tests for means of small samples (t-test), F-test for two sample
standard deviations, Chi-square test for single sample standard deviation. Chi-square tests for
independence of attributes and goodness of fit.
UNIT IV NON-PARAMETRIC METHODS 12
Sign test for paired data. Rank sum test: Mann - Whitney U test and kruskal Wallis test. One sample
run test, rank correlation.
UNIT V CORRELATION, REGRESSION AND TIME SERIES ANALYSIS 12
Correlation analysis - Simple Applications, estimation of regression line.Time series analysis: Variations
in time series, trend analysis, cyclical variations, seasonal variations.
TOTAL : 60
TEXT BOOKS:
1. Levin R.I. and Rubin D.S., "Statistics for management", 7th edition, Prentice Hall of India Pvt.
Ltd., New Delhi, 2001.
2. Aczel A.D. and Sounderpandian J., "Complete Business Statistics", 5th edition, Tata McGraw
-Hill Publishing Company Ltd., New Delhi, 2004.
3. Anderson D.R., Sweeney D.J. and Williams T.A., "Statistics for business and economics",
8th edition, Thomson (South - Western) Asia Pte. Ltd., Singapore, 2002.
REFERENCES:
1. Levine D.M., Krehbiel T.C. and Berenson M.L., "Business Statistics: A First Course", Pearson
Education Asia, 2nd edition, New Delhi, 2002.
2. Hooda R.P., Statistics for Business and Economics", 2nd edition, Macmillan India Ltd.,
2001.

M.B.A AVIATION MANAGEMENT 17


3. Morse L.B., "Statistics for Business and Economics", HarperCollins college Publishers,
New York, 1993.
4. Bowerman B.L., Connel R.T.O' and Hand M.L., "Business Statistics in Pratice", 2nd edition,
McGraw- Hill / Irwin, 2001.

PBA102 ECONOMIC ANALYSIS FOR BUSINESS DECISIONS


Credits: 3
GOAL
To equip students with in-depth knowledge about economic ideas and their applications in business
decisions.
OBJECTIVES
1. The aim of the module is to provide an understanding of Economic theory in order to enable
students to critically analyze the empirical situation of the economy.
2. The focus is on laying down the macroeconomic foundation so that students will find it
traceable to locate, understand and apply the Economic principles.
3. Various economic issues pertaining to domestic and international will be discussed at large.
4. The students will be able to take strategic business decisions, and appreciate the growing
importance of the global connectivity.
5. This is a course to be held over 45 sessions. These sessions will broadly cover
• Macro Economics
• Global Business Environment
OUTCOMES
1. It enables to demonstrate a critical understanding and evaluation of macroeconomic variables
and theories with empirical evidence;
2. To evaluate various alternative economic policies taken at domestic and international level.
3. Students could make sound business decisions with reference to and its impact on economy
as a whole.
4. To understand the Govt. policies with reference to the implications of externalities due to
global Connectivity.

M.B.A AVIATION MANAGEMENT 18


PBA102 ECONOMIC FOUNDATIONS OF BUSINESS ENVIRONMENT
L T P C
3 0 0 3
OBJECTIVES:
The subject focuses on economic ideas and their applications in business decisions and to explain
the behaviour of the economy and the Government's involvement in managing the economy.
UNIT I NATURE AND SCOPE OF MACRO ECONOMIC ISSUES 10
Macro economic variables - national income, investment, savings, employment, inflation, balance of
payment, exchange rate, etc. - circular flow of income - national income concepts - measurement of
national income - role of economic planning - Indian economic planning.
UNIT II ANALYSIS OF NATIONAL INCOME 15
Determination of national income - Keynesian perspective - multiplier - accelerator - business cycle
- the role of fiscal policy - Indian fiscal policy and experiences.
UNIT III ANALYSIS OF MONEY MARKET 10
Demand and supply of money - money market equilibrium - the role of money - monetary policy -
Indian perspectives.
UNIT IV INTEGRATION OF COMMODITY AND MONEY MARKET 10
Analysis of inflation and unemployment - the role of economic policies - Indian experiences.
UNIT V ANALYSIS OF EXTERNAL SECTOR 15
International trade - trade multiplier - linkage model - the role of trade policy - analysis of performance
of Indian economy in external sector.
TOTAL : 60
TEXT BOOKS:
1. Ahuja H.L., Economic Environment of Business, Macroeconomic analysis, S.Chand &
Company Ltd., New Delhi, 2005.
2. Gupta, G.S. Macroeconomics, Theory and Applications, Tata McGraw-Hill publishing company
Ltd., New Delhi, 2001.
REFERENCES:
1. Samuelson, Paul A., and Nordhaus, W.D., Economics, Tata McGraw-Hill publishing company
Ltd., New Delhi 2004.
2. Ruddar Datt and K.P.M.Sundharam, Indian Economy, S.Chand & Company Ltd., New Delhi,
2003.
3. Government of India (Ministry of Finance), Economic Survey (Latest issue), New Delhi.

M.B.A AVIATION MANAGEMENT 19


PBA104 ORGANIZATIONAL BEHAVIOR
L T P C
3 0 0 3
GOAL
Objective is to build better relationships by achieving human objectives, organizational objectives,
and social objectives by understanding how people, individuals, and groups act in organizations.
OBJECTIVES
1. To understand what organizations are? Explain what organizational behavior is and how it
has evolved, discover what disciplines contributed to knowledge in OB
2. To understand the concept, process and importance of individual behavior in organizations.
Influence of perception, to discover the work related Attitudes: job satisfaction, job
commitment, and organizational citizenship to understand significance of motivation, to
understand how personality contributes to differences in individual behavior.
3. To understand the meaning and importance of groups and teams in organizations. To
understand the meaning of organizational leadership.
4. To understand the concept of organizational politics. Discuss how managers deal with power
and politics in organizations.
5. Dynamics of organizational behaviours. To understand the different choices of structure of an
organization. To understand the significance of organizational culture.
6. Understand the concept of organizational climate. To explore the factors influencing
organizational effectiveness.
OUTCOMES
1. It enables the students to understand the organizations, what organizational behavior is and
what are the disciplines contributed to organizational behavior
2. It enables the students to analyse the individuals in organizations in terms of their perception,
attitude, motivation and personality. Also would have explored their contribution in achieving
individual and organizational effectiveness.
3. It enables the students to understand the groups in organizations, in terms of thresholds of
interpersonal relationships, groups and teams in organizations.
4. It enables the students to explore effectiveness of organizational leadership roles. Power and
politics in organizations and how managers deal with politics.
5. It enables the students to understand how organizations shape behavior through organizational
structure, organizational culture,organizational climate.
6. Achieve organizational effectiveness through managing and leading human behavior at work.

M.B.A AVIATION MANAGEMENT 20


PBA104 ORGANIZATIONAL BEHAVIOUR
L T P C
3 0 0 3
OBJECTIVE:
Organizational Behavior (OB) is the study and application of knowledge about how people, individuals,
and groups act in organizations. Its purpose is to build better relationships by achieving human
objectives, organizational objectives, and social objectives.
UNIT I FOCUS AND PURPOSE 9
Definition, need and importance of organizational behaviour - nature and scope - frame work -
organizational behaviour models.
UNIT II INDIVIDUAL BEHAVIOUR 9
Personality - types - factors influencing personality - theories learning - types of learners - the
learning process - learning theories - organizational behaviour modification. Attitudes - characteristics
-components - formation - measurement. Perceptions - importance - factors influencing perception -
interpersonal perception. Motivation - importance - types -Theories- effects on work behavior.
UNIT III GROUP BEHAVIOUR 9
Organization structure - formation - groups in organizations - influence - group dynamics - emergence
of informal leaders and working norms - group decision making techniques - interpersonal relations -
communication - Control - Process - types- Barriers- effective communication.
UNIT IV LEADERSHIP AND POWER 9
Meaning - importance - leadership styles - theories - leaders Vs managers sources of power - power
centers - power and politics.
UNIT V DYNAMICS OF ORGANIZATIONAL BEHAVIOURS 9
Organizational climate - factors affecting organizational climate - importance. Job satisfaction -
determinants - measurements - influence on behavior. Organizational change - importance - stability
Vs change - proactive Vs reaction change - the change process - resistance to change - managing
change. Organizational development - characteristics - objectives - team building. Organizational
effectiveness - perspective - effectiveness Vs efficiency - approaches - the time dimension - achieving
organizational effectiveness.
TOTAL : 45
TEXT BOOKS:
1. Stephen P.Robins, Organisational Behavior, Prentice Hall of India, 9th edition, 2001.
2. Hellriegel, Slocum and Woodman, Organisational Behavior, South-Western, Thomson
Learning, 9th edition, 2001.
REFERENCES:
1. Schermerhorn, hunt and Osborn, Organisational behavior, John Wiley, 7th edition, 2001.

M.B.A AVIATION MANAGEMENT 21


2. Jit S.Chand, Organisational Behavior, Vikas publishing House Pvt. Ltd. 2nd edition, 2001.
3. Fred Luthans, Organisational Behavior, McGraw Hill Book Co., 1998.
4. New Strom & Davis, Organisational behaviour, McGraw Hill, 2001.
5. Jaffa Harris and Sandra Hartman, Organisational Behavior, Jaico, 2002.

PBA106 ACCOUNTING FOR MANAGEMENT


Credits:4
GOAL
To introduce prospective managers of new ventures to prepare and analyze financial statements. The
course emphasizes on techniques of cash flows, and impact of accounting principles.
OBJECTIVES
1. To introduce the accounting principles and concepts and about inflation and human resource
accounting
2. To know the final accounts concepts to prepare the statements and interpret the same and
to know about depreciation accounting and its type
3. To know the need and importance of ratio & cash flow analysis
4. To familiarize the students with cost concepts, process and standard costing techniques
and its importance for Business decisions
5. To understand the cost volume profit analysis for making business decisions.
OUTCOMES
1. The students should be able to apply the principles and concepts to record financial
transactions and to determine the current purchasing power and the current cost based on
the conversion factor and converted value
2. To be able to prepare Profit & Loss account and Balance sheet and Depreciation statement
under different methods
3. The students should be able to apply the ratios and interpret the financial status of a firm(s)
and prepare cash flow statement and make interpretation on the same
4. The students should be able to prepare cost sheet, process cost account and to do variance
analysis
5. To be able to apply the cost volume profit analysis technique for business decisions.

M.B.A AVIATION MANAGEMENT 22


PBA106 ACCOUNTING FOR MANAGEMENT
L T P C
3 1 0 4
OBJECTIVES:
To introduce prospective managers of new ventures to prepare and analyze financial statements. The
course emphasis on techniques of cash flows, and impact of accounting principles. Coverage of
management control systems including: planning, budgeting, reporting, analysis, and performance
evaluation.
UNIT I FINANCIAL ACCOUNTING 9
Introduction to financial, cost and management accounting, generally accepted accounting principles,
conventions and concepts.-- Introduction to inflation accounting introduction to human resources
accounting.
UNIT II ACCOUNTING MECHANICS 15
The profit and loss account and related concepts - The balance sheet and related concepts- Preparation
of Final accounts- Depreciation accounting- Straight line method - Written down value method -
Annuity method
UNIT III ANALYSIS OF FINANCIAL STATEMENTS 12
Financial Ratio Analysis - Cash flow and Funds flow statement analysis
UNIT IV COST ACCOUNTING 12
Cost Accounting Systems: Classification of Cost - Cost sheet - Process costing - Standard
costing.
UNIT V MANAGEMENT ACCOUNTING: 12
Marginal Costing : Cost Volume Profit Analysis - Relevant Cost for decision making, Special order
decision, Production constraint decisions, Make or buy decisions, Joint product decision.
TOTAL : 60
TEXT BOOKS:
1. M.Y.Khan & P.K.Jain - Management Accounting, Tata McGraw Hill publishing company Ltd.,
2004.
2. M.A.Sahaf - Management Accounting (Principles & Pratice): Vikas Publishing House Pvt.
Ltd., New Delhi, 2004.
REFERENCES:
1. R.S.N.Pillai & Bagavathi - Managemnt Accounting S.Chand & Co. Ltd., New Delhi, (2002)
2. R.Narayanaswamy - Financial Accounting - A managerial perspective Prentice Hall India
Pvt., Ltd., New Delhi.
3. Bhattacharya S.K.John Dearden Accounting for Managemnt text and cases - Vikas publishing
house, New Delhi, 2000.
4. Charles T.Hornegren - Introduction to management accounting Prentice Hall, New Delhi,
2001.

M.B.A AVIATION MANAGEMENT 23


PAT102 AIRLINE MARKETING MANAGEMENT
Credit : 3
GOAL
To familiarize the students with the understanding of the principles of Marketing and the ways in
which these principles can be applied in today's airline industry, the air transport market and its
environment.
OBJECTIVES
1. To provide knowledge on the various Principles of Marketing and its application to the Airline
Industry.
2. To impart knowledge on the different marketing segments in Air Transport Services and its
Analysis.
3. To provide knowledge on the various products and its life cycle in Aviation Industry.
4. To provide knowledge on the tools and techniques for performing a Market Research and its
application.
5. To provide knowledge on the impact of Information Technology on Marketing Decision and
Importance of Online Marketing.
OUTCOMES
1. It enables the students to gain knowledge about the Principles of Marketing and to apply it in
real time situation in a Aviation Industry.
2. It enables the students to understand about the various segments of Air Transport Services
thereby to make decision for to make analysis of the Market.
3. It enables the students to formulate strategies for marketing Airline related products.
4. It enables the students to implement various marketing tools and techniques while doing the
marketing research of the product in the market.
5. It enables the student to use IT on the marketing decisions and Online marketing.

PAT102 AIRLINE MARKETING MANAGEMENT


L T P C
3 0 0 3
OBJECTIVES:
To enable the students understand the principles of Marketing and the ways in which these principles
can be applied in today's airline industry, the air transport market and its environment.
UNIT I INTRODUCTION 9
Marketing conceptual frame work - marketing environment - customer oriented organization - marketing
interface wit other functional areas marketing in a globalised environment Marketing Mix - Stages in
the Application of Marketing Principles to Airline Management.

M.B.A AVIATION MANAGEMENT 24


UNIT II MARKET OF AIR TRANSPORT SERVICES 9
Customer - Definition - Apparent and True Needs - Industrial Buying Behaviour - Customer in the
Business Air Travel Market - Customer in Leisure Air Travel Market - Customer in the Air Freight
Market - Market Segmentation in Air Passenger & Air Freight Market - Marketing Environment -
Theortical Basis of PESTE Analysis - Building Customer Satisfaction.
UNIT III PRODUCT ANALYSIS IN AIRLINE MARKETING 10
Product - definition - Product Life Cycle - Product Life Cycles in Aviation Industry - Managing Product
Portfolio - Balancing Risk and Oppurtunity - Fleet & Schedules related Product Features - Customer
Service Related Product Features - Pricing Decisions - Building Blocks in the Airline Pricing Policy
- Uniform and Differential Pricing - Distribution Channel Strategies - Travel Agency Distribution System
- Global Distribution System - promotion methods. Advertisement and personal selling, public relations.
UNIT IV MARKETING RESEARCH 9
Types, process - tools and techniques - application of marketing research - product launching,
demand estimation, advertising, brand preferences, customer satisfaction, retail stores image,
customer perception, distribution, customer relationship, competitor analysis and related aspects -
preparation of marketing research report - sample case studies.
UNIT V INFORMATION TECHNOLOGY IMPACT ON MARKETING DECISIONS 8
Online marketing - web based marketing programmes - emerging now trends and challenges to
marketers.
TOTAL : 45
TEXT BOOK:
1. Stephen Shaw " Airline Marketing and Management " Ashgate Sixth Edition.
REFERENCES:
1. Phlip Kortler: Marketing management (Millenium edidtion), prentice hall of India P (ltd), New
Delhi 2001.
2. Micheal R.Czinkota & Masaaki Kotabe, Marketing management, Vikas Thomson learning
2000.
3. Douglas, J.Darymple marketing management John Wiley & Sons, 2000
4. NAG, marketing successfully A professional perceptive, macmilan 2001.
5. Boyd Walker, Marketing Management, McGraw Hill, 2002
6. Aakar Day, Kumar, Essential of Marketing Research
7. Keith Flether, Marketing Management and Information Technology Prentice Hall, 1998.

M.B.A AVIATION MANAGEMENT 25


PBA204 HUMAN RESOURCE MANAGEMENT
Credits: 3
GOAL
To familiarize the learners with various functions of Human Resource Management and emphasize
on the integration of Human Values with the Organization.
OBJECTIVES
1. To familiarize the principle & evolutionary concepts related to Human Resource, and the role
played by computer application in Human Resource Management.
2. To understand the concept of best fit employee.
3. To gain an understanding of training & executive development.
4. To acquire knowledge about the sustainable employee interest.
5. To understand the nuances of performance evaluation & control precess.
OUTCOMES
1. On successful completion of this unit the learner will empathize the purposes and qualities of
the Human Resource.The learner can depict the extent to which HR meets the objectives of
organization & appreciate the significance of human factors in the organization.
2. On successful completion of this unit the learner will assess how HR attempt to allocate
resources effectively by chalking out the HRP. The learner can discern sources of recruitment,
selection procedure, and induction & socialization benefits
3. On successful completion of this unit the learner will judge how on the job & off the job
training programs shape the behavior of an employee. The learner can illustrate the way
training program moulds the employees for their self & professional career development by
using range of examples.
4. On successful completion of this unit the learner will analyze compensation plan & negotiation
process. The learner can acquaint the role of motivation in maintaining the protégé relationships.
5. On successful completion of this unit the learner will empathize performance evaluation
criteria and its implications like promotions, transfers and so on. The learner can appreciate
redressal system for resolving the grievances in the control process.

M.B.A AVIATION MANAGEMENT 26


PBA204 HUMAN RESOUCE MANAGEMENT
L T P C
3 0 0 3
OBJECTIVE :
To familiarize the students with various functions of Human Resources Management and emphasize
on the integration Human Values with the organization.
UNIT I PERCEPTIVE IN HUMAN RESOURCE MANAGEMENT 5
Evolution of human resource management - the importance of the human factor - objectives of human
resource management - role of human resource manager - human resource policies - computer
applications in human resource management.
UNIT II THE CONCEPT OF BEST FIT EMPLOYEE 8
Importance of human resource planning - forecasting human resource requirement - internal and
external sources. Selection process screening - tests - validation - interview - medical examination -
recruitment introduction - importance - practices - socialization benefits.
UNIT III TRAINING AND EXECUTIVE DEVELOPMENT 10
Types of training methods purpose benefits resistance. Executive development programmes - common
practices - benefits - self development - knowledge management.
UNIT IV SUSTAINING EMPLOYEE INTEREST 12
Compensation plan - reward - motivation - theories of motivation - career management - development
mentor - protégé relationships.
UNIT V PERFORMANCE EVALUATION AND CONTROL PROCESS 10
Method of performance evaluation - feedback - industry practices. Promotion, demotion, transfer and
separation - implication of job change. The control process - importance - methods - requirement of
effective control systems grievances - causes - implications - redressal methods.
TOTAL : 45
TEXT BOOKS:
1. Decenzo and Robbins, Human Resource Management, Wilsey, 6th edition, 2001.
2. Biswajeet Pattanayak, Human Resource Management, Prentice Hall of India, 2001.
REFERENCES:
1. Human Resource Management, Eugence Mckenna and Nic Beach, Pearson Education
Limited, 2002.
2. Dessler Human Resource Management, Pearson Education Limited, 2002
3. Mamoria C.B. and Mamoria S.Personnel Management, Himalaya Publishing Company, 1997
4. Wayne Cascio, Managing Human Resource, McGraw Hill, 1998.
5. Ivancevich, Human Resource Management, McGraw Hill 2002.

M.B.A AVIATION MANAGEMENT 27


PBA208 BUSINESS APPLICATION SOFTWARE
Credit : 3
GOAL
Goals should provide a framework for determining the more specific educational objectives of a
program, and should be consistent with the mission of the program and the institution.
OBJECTIVES
1. To learn MS office, Database programming techniques.
2. To learn and develop objectives are concerned with more complex learning outcomes.
3. To learn and perform at the conclusion of a unit of instruction such as a word, excel, powepoint,
access and database.
4. To learn and design of concrete components of structure and foundation and the integration
of them into overall design structures.
5. To determine the acceptable level of performance.
OUTCOMES
The student should be able to:
1. Understand how to allocate and use word, excel, power point and database.
2. Understand the use of emerging technology and research when necessary.
3. Understand, design and present a concrete structure for the database.

PBA208 BUSINESS APPLIATION SOFTWARE


L T P C
3 1 0 4
OBJECTIVES
Familiarizing the students with basic computer concepts and emerging Computer Technology, so as
to enable them to use computer resources efficiently for making effective decision.
UNIT I BUSINESS APPLICATION SOFTWARE 20
MS office - MS Excel, MS Power Point, MS Word, MS Access, MS Front Page, MS Project,
Accounting packages Statistical Packages, Operations Research Package, Packages in functional
areas of management.
UNIT II DATABASE MANAGEMENT PACKAGES 20
Sqlserver or oracle or ingress; front-end tool - Visual basic or Developer 2000.
UNIT III INHOUSE DEVELOPMENT OF A PACKAGE 20
TOTAL : 60

M.B.A AVIATION MANAGEMENT 28


SEMESTER II
PAT201 AIRLINE OPERATION AND SCHEDULING
Credits: 4
GOAL
To explore a variety of models and optimization techniques for the solution of airline schedule planning
and operations problems.
OBJECTIVES
1. To provide knowledge about the various Transport and Assignment Problem.
2. To provide knowledge about the Critical Path Method (CPM), Program Evaluation Review
Technique (PERT) and the cost consideration in CPM and PERT.
3. To provide knowledge about the operational Recovery of the Airline.
4. To provide knowledge on the Robust Crew scheduling and Aircraft Routing.
OUTCOMES
1. It enables the students to implement these models in Aviation Industry for scheduling the
Aircraft and to determine the shortest distance for various routes.
2. It enables the students to implement these techniques for minimizing the cost factor involved
in the Scheduling of the Aircraft for various routes and sectors.
3. It enables the student to formulate plans and procedure for constructing the Airline Operational
Recovery Program.
4. It enables the student to perform Robust Crew Scheduling and Aircraft Routing for the Airline.

PAT201 AIRLINE OPERATION AND SCHEDULING


L T P C
3 1 0 4
OBJECTIVES
Explores a variety of models and optimization techniques for the solution of airline schedule planning
and operations problems.
UNIT I TRANSPORTATION AND ASSIGNMENT MODELS 15
Definition - Transportation Model - basic feasible solution - unbalanced and degeneracy models-
optimal solution - MODI method. Assignment problem - Hungarian method - restriction - unbalanced
- traveling salesman problem - transshipment model.
UNIT II SCHEDULING 15
Critical Path Method (CPM) - Networks computation - floats- Program Evaluation Technique (PERT)
- Cost consideration in PERT and CPM.

M.B.A AVIATION MANAGEMENT 29


UNIT III NETWORK MODELS 10
Scope and definition of network models - Minimal spanning tree algorithm - Krushkal - Prim's Algorithms
- Maximal Flow model - Ford and Fulkerson Algorithm - Shortest Route - Dijkstra's and Floyd's
algorithm.
UNIT IV OPERATIONS RECOVERY 10
Overview of Operation Control Centre - Aircraft Passenger Delays - Flight Postponement and
Cancellation Model-Airline Operation Recovery - Challenges- - Role of Simulation.
UNIT V ROBUST SCHEDULING 10
Robust Crew Scheduling - Robust Aircraft Routing - Degradable Schedule Design.
TOTAL : 60
TEXT BOOKS
1. Barnhart, C., F. Lu, and R. Shenoi. "Integrated Airline Scheduling". In Operations Research
in the Air Industry.
2. Panneer Selvam O : "Operations Research " PH Publications
REFERENCES
1. Barnhart, C., and K. Talluri. "Airline Operations Research."
2. Chebalov, S., and D. Klabjan. "Robust Airline Crew Scheduling: Move-up Crews."

PAT202 AIRLINE FINANCE


Credits: 4
GOAL
To provide understanding of airline financial statements and to address specific airline industry aspects
such as treatment of frequent flyer programmes , aircraft leases and evaluation of airline performance
by financial ratios.
OBJECTIVES
The course should enable the students:
1. To Introduce various basic financial concepts
2. To Learn about various Financial Performance Analysis
3. To Learn about various sources of Finance for Operations
4. To Learn about Financial Planning
5. To Learn about the Risk Management and Leasing Concepts
OUTCOMES
The student should be able :
1. To compute Time Value, Future Value, Annuity Value of Money concepts

M.B.A AVIATION MANAGEMENT 30


2. To analyse a Financial Statement by way of Ratio Analysis Students able to understand
Airline specific Ratios
3. To understand various sources of Internal and External sources of funds
4. To understand various financial planning aspects such as Budgets & Control in Airlines and
Working Capital Management
5. To devise Hedging Strategies and understand Leasing concepts

PAT202 AIR LINE FINANCE


L T P C
3 1 0 4
OBJECTIVE
To provide understanding of airline financial statements and to address specific airline industry aspects
such as treatement of frequent flyer programmes , aircraft leases and evaluation of airline performance
by financial ratios.
UNIT I FOUNDATIONS OF FINANCE 15
Financial management - An overview, time value of money. Capital Budgeting: Principles and
techniques, Nature of capital budgeting, Identifying relevant cash flows, Evaluation Techniques,
Payback, Accounting rate of return, Net Present Value, Internal Rate of Return, Profitability Index,
Comparison of DCF techniques, Project selection under capital rationing, Inflation and capital
budgeting.
UNIT II AIRLINE FINANCIAL PERFORMANCE 15
World Airline Financial results - Factor affecting Financial results - Airline Financial Statements -
Airline Financial Ratios - Inter Airline Comparison of Financial Ratios - Valuation of Tangible Assets -
Valuation of Intangible assets- valuation of Airline as a whole - Rating Agencies.
UNIT III SOURCES OF FINANCE 10
Sources of internal finance - sources of external finance - Institution evolved in Aircraft Finance -
Equity Finance - Foreign Ownership Limits - Share trading and Share Market Listings - Intial Public
Offerings - Airline Privatisation - Full Privatisation - Gradual Privatisation - Partial Privatisation.
UNIT IV AIRLINE FINANCIAL PLANNING 10
Budget Preparation and Control - Working capital Management - Principles of working capital: Concepts
need; Determinants, issues and estimation of working capital, Accounts Receivables Management
and factoring - Financial Planning.
UNIT V RISK MANAGEMENT & LEASING 10
Exchange rate volatility - Airline trading exposure to currency movements- Airline Foreign exchange
risk management - Fuel price exposure - Aircraft leasing - Finance Lease - Operating Lease - Japanese
Operating Lease - Wet Lease - Sale and Leaseback - Aircraft Securitizations.
TOTAL : 60

M.B.A AVIATION MANAGEMENT 31


TEXT BOOK
1. Peter. S. Morrell , " AIRLINE FINANCE " , Third Edition Ash Gate.
REFERENCE:
1. I.M.Pandey Financial Management, Vikas Publishing House Pvt. Ltd., 8th edition, 1999\
2. M.Y. Khan and P.K.Jain Financial management, Text, Problems and cases Tata McGraw Hill
Publishing company Ltd., 4th edition, 2004.

PAT203 AVIATION LAW


Credits: 3
GOAL
The course is designed to provide the students a knowledge of the law as applied to aviation industry,
to enable one to recognise and avoid legal pitfalls, and to recognise when it is prudent to consult legal
counsel.
OBJECTIVES
1. History and development of air law in india
2. International air transportation
3. Aviation liability
OUTCOMES
1. Students will know the broad outlook of the total evolution of Aviation Law, with a brief about
each convention, the prevailing scope and limits within which the entire legal system in
aviation industry revolves around. The gradual development with instances and examples
over a period. What are the various forums which contributed to the formation of the law in
aviation industry. The formation of the ordinance in aviation industry with specific reference to
the carriers' rules for ultimate enactment of Acts of parliament with focus on development
over period of time up to the present level of regulations in force.
2. The deliberations at Chicago convention, agreement signed by member countries at Bermuda,
the intricacies leading to the formation of airline companies, basic rules for air navigation, the
international air transport association, the applicability and references to General Agreement
of Trade and Tariff of the world into air laws, various measures adopted for ensuring environment
protection and bilateral agreements in this regard between states as well as the overseas
bodies are imbibed to students through these units.
3. This course offers an in-depth analysis of legal concepts related to the aviation industry
including aircraft operations, airports, fixed based operators (FBOs), contracts, insurance
and liability, regulatory statutes, and case law.

M.B.A AVIATION MANAGEMENT 32


PAT203 AVIATION LAW
L T P C
3 0 0 3
OBJECTIVES
This course offers an in-depth analysis of legal concepts related to the aviation industry, including
aircraft operations, airports, fixed based operators (FBOs), contracts, insurance and liability, regulatory
statutes, and case law. The historical development of aviation law is included.
UNIT I HISTORY AND DEVELOPMENT OF AIR LAW IN INDIA 8
Introduction - Paris Convention on Air Navigation 1919 - First Indian Air Board - Birth of Indian Air
Companies - Indian Aircraf Act 1934 - Aircraft Rules 1937 - Civil Aviation pre and post Second world
war - Nationalisation of Air Services - International Airports Authority in India - History of Aviation -
Survey of Current Air law in India.
UNIT II INTERNATIONAL AIR TRANSPORTATION 12
Air regime prior to the Chicago convention - Chicago conference - Convention on the international
Civil Aviation - Rules for Air Navigation - Liberalisation of International Air transportation - Bermuda
Agreement - Multilateralism for Liberalisation - Application of GATT Principles to International Air
Transportation - Environmental Protection Measures - India and Bilateral Services Agreement.
UNIT III AVIATION LIABILITY 12
Liability of the Carrier under the Indian Carriage by Air Act 1972 - Warsaw Convention 1929 - International
Carriage - Hague Protocol 1955 - Montreal Interim Agreement 1966 - Guatemala City Protocol 1971-
Montreal Protocol 1975 - Consumer Protection Act and Air carriage Claims.
UNIT IV AIRLINES OWNERSHIP 8
Introduction - Privatisation - Policy issues - Current Situation - Changing Trends of Liberalization and
Ownership in Air Services - AirSPace Management in India.
UNIT V AVIATION IN INDIA 5
Past - present - Future Overview - Airlaw and Aviation Policy in India - Air Routes and Aerodromes in
India - Aviation Security - Development of Civil Aviation and Airlaw and Policy in India - Devleopment
in Aviation in India and Future Outlook for National Airlines
TOTAL : 45
TEXT BOOK
1. S. Bhatt, V.S. Mani & V. Balakista Reddy, "Air Law and Policy in India"

M.B.A AVIATION MANAGEMENT 33


PAT 204 AVIATION SAFETY MANAGEMENT SYSTEM AND ACCIDENT INVESTIGATION
Credits: 3
GOAL
To familiarize the students with an understanding of Safety Management System, flight safety, Human
factor and other key safety issues involved the aviation industry.
OBJECTIVES
1. To provide knowledge on the Aviation Safety Programs, Risk Management and Prevention
Methodologies.
2. To impart knowledge on the need for Human factor and how it is affecting the Aviation Industry.
3. To provide information about the Aviation Safety programmes, Awards and Accident and
Incident investigation.
4. To provide the information about the planning and preparation of Maintenance activities for
the aircrafts, Tools control, Bogus Parts Identification and Maintaining Technical Records for
the purpose of Documentation.
5. To acquire knowledge about the Airport Certification Manual, Airport and Helipad Inspection
Program.
OUTCOMES
1. It enables the students to build and implement Aviation Safety Management Programs in
Aviation related organization.
2. It enables the students to understand the importance of Human factor and thereby build
Human factor training for their organization to reduce accidents and incidents occurring
because of Human factor.
3. It enables the students to formulate and implement Aviation Safety Programs and to prepare
Accident and Incident reports.
4. It enables the students to plan and schedule maintenance activities for the aircrafts, Tools
Control, Bogus parts Identification and Maintaining Technical Records and to conduct
Maintenance Safety Program and Inspection.
5. It enables the students to understand and maintain the Airport Certification Manual and to
conduct Airport and Helipad Inspection Program

M.B.A AVIATION MANAGEMENT 34


PAT204 AVIATION SAFETY MANAGEMENT AND ACCIDENT INVESTIGATIONS
L T P C
3 0 0 3
OBJECTIVES
To help the students an understanding of flight safety and other key safety issues in the aviation
industry.
UNIT I INTRODUCTION 12
Aviation safety - Meaning - Need - Economic of Aviation Safety - Safety Vs Mission - Randomness of
Damage and Injury - Zero Accident Rate - Accident causes - Multiple Vs Single Cause - Aircraft
Accident - Aircraft Mischap - Aircraft Incident - Building Aviation Safety Program - Prevention
Methodology - Risk Management.
UNIT II HUMAN FACTORS IN AVIATION SAFETY 8
Theory of Risk - Changing the Behaviour of the risk takers - Attitudes - Discipline - Punishment -
Protection of Safety - Motivating Safe Behaviour - Human factors difficulties - Training invlovling
human factors - Human Performance Concerns - Human Performance Factors.
UNIT III AVIATION SAFETY PROGRAM ELEMENTS 10
Internal Reporting Systems - Information Distribution systems - Aviation Safety Committees - Aviation
Safety Inspection Programs - Aviation safety program Evaluation - Flight Operation Safety Inspection
- Safety Inspection report Format - Aviation Safety Education and Training - Aviation Safety Awards
Programs - Accident Preparation and Investigation.
UNIT IV AIRCRAFT MAINTENANCE SAFETY 8
Aircraft Discrepancies - Delayed and Deferred Descrepancies - Training - Configuration Control -
Maintenance Engine Runs and Taxiing - Maintenance Test Flights - maintenance Analysis - Tool
Control - Hazarodous Waste Disposal - Bogus parts - Technical Data - maintenance Inspections -
Flight Line Practices - Maintenance Safety Programs - Maintenance Safety Inspections.
UNIT V AIRPORTS AND HELIPORTS 7
Airport Certification Manual - Airport Emergency Plan - Airports/Heliports criteria - Airfield Criteria -
Airspace Criteria - Foreign Object Control - Bird Hazards - Snow and Ice Removal - Fuel Handling -
Vehicle Control - Airport and Heliport Safety Inspections.
TOTAL : 45
TEXT BOOK
1. Aviation Safety Programs - A Management Handbook - Richard H. Wood

M.B.A AVIATION MANAGEMENT 35


PBA206 STRATEGIC MANAGEMENT
Credit : 3
GOAL
To understand the importance and process of Strategic Management. Be able to analyse a company's
strategy in terms of its external and internal environment, offer Functional and Business level strategies,
and be able to evaluate the effectiveness of strategies by doing strategy audit.
OBJECTIVES
1. To understand the conceptual framework of Strategic Management and the process of strategy
formulation.
2. The students should learn the concept of external and internal analysis and identify the
company's competitive position. Must also become aware of corporate governance and
CSR issues.
3. The students must get an understanding of functional strategies and business level strategies.
4. The students should learn different organizational structures and methods to evaluate the
effectiveness of strategies.
5. The students should learn the impact of technology and innovation on strategic formulation.
Be aware of issues pertaining to non profit organization.
OUTCOMES
1. Student should be able to define Strategic management and be able to discuss the process
of strategic management in companies.
2. Student should be able apply the Porter's five forces model and critically examine an industry
and company to ascertain its competitive position vis-à-vis others in the industry.
3. Student should be able to discuss various functional strategies and Business level strategies
to make the company gain competitive advantage
4. Student must be able to describe different organization structures. Must be able to evaluate
effectiveness of strategy by using Balance score card.
5. Student should be able discuss issues pertaining to Technology, Innovation, and Non-profit
organizations.

M.B.A AVIATION MANAGEMENT 36


PBA206 STRATEGIC MANAGEMENT
L T P C
3 0 0 3
OBJECTIVES
• To understand the strategic management process in an organization
• To formulate strategy for an organization

• To be able to carry out strategy audit in an organization


UNIT I STRATEGY AND PROCESS 8
Conceptual framework for strategic management, the Concept of Strategy and the Strategy Formation
Process - A formal Strategic Planning Process - Corporate Governance and Social responsibility.
UNIT II COMPETITIVE ADVANTAGE 8
External Environment - Porter's Five Forces Model-Strategic Groups Competitive Changes during
Industry Evolution-Globalisation and Industry Structure - National Context and Competitive advantage
Resources- Capabilities and competencies-core competencies-Low cost and differentiation Generic
Building Blocks of Competitive Advantage- Distinctive Competencies-Resources and Capabilities
durability of competitive Advantage- Avoiding failures and sustaining competitive advantage.
UNIT III STRATEGIES 8
Building competitive advantage through functional level strategies- Business level strategy- Strategy
in the Global Environment-Corporate Strategy-Vertical Integration-Diversification and Strategic Alliances-
Building and Restructuring the corporation-Choice of Strategies-Balance Score Card.
UNIT IV STRATEGY IMPLEMENTATION & EVALUATION 8
Designing organisational structure-Designing Strategic Control Systems- Matching structure and
control to strategy-Implementing Strategic change-Politics-Power and Conflict-Techniques of strategic
evaluation & control.
UNIT V OTHER STRATEGIC ISSUES 8
Managing Technology and Innovation- Entrepreneurial Ventures and Small Business Strategic issues
for Non Profit organisations.
CASES IN STRATEGIC MAMAGEMENT 5
TOTAL : 45
TEXT BOOKS
1. Charles W.L. Hill & Gareth R. Jones - 'Strategic Management Theory, An Integrated approach'
- Houghton Miflin Company, Princeton New Jersey, All India Publisher and Distributors,
Chennai, 1998.
2. Thomas L. Wheelen, J. David Hunger - 'Strategic Management' Addison Wesley Longman
Singapore Pvt., Ltd., 6th Edition, 2000.

M.B.A AVIATION MANAGEMENT 37


REFERENCES
1. Arnoldo C.Hax, Nicholas S. Majluf - 'The Strategy Concept and Process' - A Pragmatic
Approach - Pearson Education Publishing Company, Second Edition, 2005.
2. Azhar Kazmi - 'Business Policy & Strategic Management' Tata McGraw Hill Publishing
Company Ltd., New Delhi - Second Edition, 1998.
3. Harvard Business Review - 'Business Policy' - part I & II Harvard Business School.
4. Saloner, Shepard, Podolny - 'Strategic Management' - John Wiley 2001.
5. Lawerence G. Hrebiniak, 'Making strategy work', Person publishing company, 2005.
6. Gupta, Gollakota & Srinivasan - 'Business Policy and Strategic Management - Concepts and
Application' Prentice Hall of India, 2005.

PBA103 TOTAL QUALITY MANAGEMENT


Credits: 3
GOAL
1. To introduce the students to the basic concepts of total quality management and how the
focus of TQM has become so important for all companies in recent times
2. To familiarize the students to the philosophy and role of TQM in revitalizing the organization
3. To enable them to acquire requisite diagnostic skills and understand the use of the tools of
the TQM.
OBJECTIVES
1. To introduce Quality Concepts, TQM Framework and Customer Satisfaction.
2. To introduce the principles and philosophies of Quality Management
3. To emphasize the significance of Statistical Process Control and introduce the various methods
of measuring process capability
4. To provide overview on the various tools and techniques of Quality Management
5. To introduce Quality Management Systems, steps involved in TQM Implementation and
understand the role of Information Technology in Quality.
OUTCOMES
1. The incumbent understands the various dimensions of Quality, Principles of TQM , Customer
Perception to Quality and strategies adopted for Customer retention
2. The incumbent understands the contributions made by various Quality Gurus & gets familiar
with the various approaches proposed by them for Quality Management
3. The incumbent understands the quantitative method of measuring Quality and is familiar with
methods of measuring process capability
4. The incumbent becomes aware of the various Quality Management tools

M.B.A AVIATION MANAGEMENT 38


5. The incumbent understands the significance of maintaining a system for managing quality,
and is familiar with the various factors that lead to the successful Implementation of TQM in
an organization.

PBA103 TOTAL QUALITY MANAGEMENT


L T P C
3 0 0 3
OBJECTIVES:
• To introduce the students to the basic concepts of total quality management and how the
focus of TQM has become so important for all companies in recent times.
• To Familiarize the students to the Philosophy and Role of TQM in Revitalizing the Organisation.
• To Enable them to Acquire Requisite Diagnostic Skills and understand the Use of the tools of
TQM.
UNIT I INTRODUCTION TO QUALITY MANAGEMENT 9
Definitions - TOM framework, benefits, awareness and obstacles. Quality - vision, mission and policy
statements. Customer Focus - customer perception of quality, Translating needs into requirements,
customer retention. Dimensions of product and service quality. Cost of quality.
UNIT II PRINCIPLES AND PHILOSOPHIES OF QUALITY MANAGEMENT 9
Overview of the contributions of Deming, Juran Crosby, Masaaki Imai, Feigenbaum, Ishikawa, Taguchi,
Shingeo and Walter Shewhart. Concepts of Quality circle, Japanese 5S principles and 8D methodology.
UNIT III STATISTICAL PROCESS CONTROL AND PROCESS CAPABILITY 9
Meaning and significance of statistical process control (SPC) - construction of control charts for
variables and attributed. Process capability - meaning, significance and measurement - Six sigma
concepts of process capability. Reliability concepts - definitions, reliability in series and parallel,
product life characteristics curve. Total producti9ve maintenance (TMP) - relevance to TQM,
Terotecchnology. Business process re-engineering (BPR) - principles, applications, reengineering
process, benefits and limitations.
UNIT IV TOOLS AND TECHNIQUES FOR QUALITY MANAGEMENT 9
Quality functions development (QFD) - Benefits, Voice of customer, information organization, House
of quality (HOQ), building a HOQ, QFD process. Failure mode effect analysis (FMEA) - requirements
of reliability, failure rate, FMEA stages, design, process and documentation. Taguchi techniques -
introduction, loss function, parameter and tolerance design, signal to noise ratio. Seven old (statistical)
tools. Seven new management tools. Bench marking and POKA YOKE.
UNIT V QUALITY SYSTEMS ORGANIZING AND IMPLEMENTATION 9
Introduction to IS/ISO 9004:2000 - quality management systems - guidelines for performance
improvements. Quality Audits. TQM culture, Leadership - quality council, employee involvement,

M.B.A AVIATION MANAGEMENT 39


motivation, empowerment, recognition and reward. Information technology - computers and quality
functions, internet and electronic communications. Information quality issues.
TOTAL : 45

TEXT BOOKS:
1. Dale H.Besterfield et al, Total Quality Management, Thrid edition, Perarson Education (First
Indian Reprints 2004)
2. Shridhara Bhat K, Total Quality Management - Text and Cases, First Edition 2002, Himalaya
Publishing House.
REFERENCES:
1. William J.Kolarii, Creating quality, Mcgraw Hill, 1995
2. Poornima M.Charantimath., Total quality management, Pearson Education, First Indian Reprint
2003.
3. Rose J.E. Total Quality Management, Kogan Page India Pvt Ltd, 1993.
4. Indian standard - quality management systems - Guidelines for performance improvement
(Fifth Revision), Bureau of Indian standards, New Delhi.

PBA207 RESEARCH METHODS IN BUSINESS.


Credit : 4
GOAL
The Students will be able to acquire research skills and apply those scientific research techniques
which will lead to a good Management decisions.
OBJECTIVES
• To classify business research as exploratory research, descriptive research or causal research
and to identify and briefly discuss the various decision alternatives available to the researcher
during each stage of the research process. The objective is also to formulate a solid research
hypothesis.
• The objective is to study the internal and external validity with experimental research design
and to understand the measurement scale in research studies.
• The objective is to learn various methods of data Collection and to prepare a proper
Questionnaire design. Also to understand how to choose an appropriate sample design and
the nature and logic of hypothesis testing.
• The objective is to study the various Multivariate Statistical Techniques, like Factor Analysis,
Cluster Analysis, Discriminant analysis, Multiple regression and correlation, canonical
correlation and application of SPSS Package.
• The objective is to know the contents, types, lengths and technical specifications of research
reports and to understand the importance of the research follow-up.

M.B.A AVIATION MANAGEMENT 40


OUTCOMES
• The students will be able to understand the importance of business research as management
decision-making tool and plan a proper Research design of all the stages in the Research
Process. Students will also be able to understand the terms, concept, proposition, variable
and Hypothesis.
• Students will be able to discuss how to control extraneous variables in experimental
• Situations and can take critical decisions involved in selecting an appropriate measurement
scale by rating, ranking and sorting and other preference scales in the research.
• Students will be able to explain the differences between Primary data and Secondary data
and they will be able to plan and design a questionnaire layout.
• Students can analyse the factors that influence the selection of an appropriate test of statistical
significance.
• Students will be able to know how Principal component analysis extracts uncorrelated factors
from an initial set of variables and how (exploratory) factor analysis reduces the number of
variables to discover underlying constructs. Also they will be able to interpret the statistical
results of multiple regression and Cluster Analysis.
• Students will be able to understand and explain how the research report is the crucial means
for communicating the whole research project and how it is useful to study further research
with recommendations/suggestions.

PBA207 RESEARCH METHODS IN BUSINESS


L T P C
3 0 0 3
OBJECTIVE
To impart the students with necessary quantitative skills to conduct high quality independent research
related to Business administration.
UNIT I INTRODUCTION TO RESEARCH 8
The hallmarks of scientific research - the building blocks of science in research - the research
process for applied and basic research - the need for theoretical frame work - hypothesis development
- hypothesis testing with quantitative data. The research design. The purpose of the study: Exploratory,
Descriptive, Hypothesis testing (Analytical and Predictive) - cross sectional and longitudinal studies.
UNIT II EXPERIMENTAL DESIGN 7
The laboratory and the field experiment - internal and external validity - factors affecting internal
validity. Measurement of variables - scales and measurement of variables - development scales -
rating scale and concept in scales being developed. Stability measures.
UNIT III DATA COLLECTION METHOD 10
Interviewing, questionnaires etc. Secondary sources of data collection. Guidelines for questionnaire
design - electronic questionnaire design and surveys. Special data source: Focus groups, Static and

M.B.A AVIATION MANAGEMENT 41


d ye nm ra
tR m d ocse an
miHclO t-m
o lN ehzte o id
lr.a syn dw hid eou n
tse aC Sco h I.L Isim n
e g
tcim
lp
hN qln uize a snd coe n
infce i
VA
Vo cU
F
a
UT
Io
a
cen
p
Ni-T
rSN
an
ito
lIp tcIo fR E
a
lP tn
F
T
EH
RrSn E
g
iE
S A u S
cayR ls-e S
C
S
E
a
E tiO
P
HpR nM
rO d
a
RsyHps-csilE
m
T ke U aciLTn g
pVA
ia
ena
o h
n tn
.rAT
entItsg aytimRe
IS
s-Tlm tirpe Erilnu tS
g a
o
ie
A n
TlmrA T tp fo stsT ia
EC
n&Q H CU IES pse
o iarlci.n t-no5n
la ca i1
l
T
lo
o
snaer
oa e
f h
rp
t
in fape
i-
srp o Tt ot r
fsedu
.o ht r
,ucinp e
a o
-lussin t b s
e he
o
clto
see f wt n
orcin r h tp
r no
e- ,
s
-ommendoain t y c
n e oa p u
f
ht sd
neor
,it n d c Bu e - c o
anm a
t c
y
rs e w
s
do
i
t
ipne r
f
c ip
n
mr
t
elm T, os t
.
rh n
e h i
t
e gp
ona
r
ad
i
nt slr5
t
iB .O
TE e
X TO c t K S :h TA L4 T O
5cG :a
..1 2E D
P
C sn
R Cg
u
K o
.mib R.nd
h
eo C
la
o aistelr.a
m cMohreoa phn e
e R
aodtr,nd
o
Wi a
ym
N
o
g e
Lly,mitS
d ,si2
e w .cn
e
ish
0
D dr,
B
0h ,ilh
0
vWie Pan
u
i.lae
sirRskase ha sa
N en a
cMh
,e rw 2N 0
D he
0,,Io
t1
h e d
i.w ls,ta Ta M lw
rH
li
.W.
...3 R
1
2 F R EN C U
DES : H M o
d n .Ba l ncS
.
ue a
r y R R
k a r
n
e,e s s
e e a
ca
c
M
M h
h
r r B h
h e
e o
n
J
ou
t
t o
re
dfds hi
s s n,, Tho
m o
n s e yAl n dS
as tdPS
i
n lo g n
v
i.
a tcs
pe .2o e 0
r 0 2 2.0 0
Yk
0
o ,r
.4 5K Ti um tGR
R .cia ae ymn Rrh
aju nse
n rtd
o ,Ve
sn
ae
E
A M
id -.ta
ca
T hJd A
re
lT, ,B
no'.h
h e
,itg
mn
ou t,o
.ra de
salig
R
sly,
o lae Snse aa acg
Mh ree
g P m ohLe
cu o
L
n
ato
id o
b
,tn sn
e rl,d g
snem
o
Ntn acs,rh
a1a9
e ,w
gn9e ,D
1 p9 o .a
9
cL
u n,i9
h
oe
b t,9
in
ll.don,
C O 19.P M B AM 50 1C U AT
N IO S
IN L K SIA B
NC U
EODS IR R E S P O N D E N C EC
L AOG 3e rs
d
t:i
u T ie
o sn h au te
sb lea n ts
tp oe lrtn pa se a
rcso nm d
veie ff
rlve ao ica n
treld twn cto ia rm sir,tm cisru o.cnba nifurtnse iss
.ota
O
1
2
sn
VEStB a EC
J c
n
IT
o T d
o
m hf e p t eal o
nae
m
b
r ue b
ypd
r
g o
u
u
e
ln
ci
n e
a
sse irta
i
e
t a r l n da n dma smhsae
ot
i r ul u n i
g n e
sh p tcta e
g
ep
r i
o
ca cnen d
psea slinm di p o t
e r c
na
3..hse o
T
ta
T e
o
sfh
L
hw
ft ra
a
p
lp
le
e
sSn nrlkrle
oce
ab uosre
tn
isRW
ra inm
o rfd w e wsm rPtsh e.ira
a su en
otcn h
and
itta enp
o
sd
o
N tp
uie
n cirgi,tlo e
se
o
M gnff
ife
a
a
g vrs,to
ecigsin
to tetcvtm g
ee ica stro nm dCh oetu
o necn a
mfirn .tm T
co e.e
L se.a
a
nnklre
srr
O
M
ATV
N
A
IB.ANAGEMENT 24
.C 4 Tho h
eb
a p
e
na
lu
d n lrsice aspcoq e ardupe ion m
frce.ng iknow ed lg om ferofa snd me htono dgiworstefir
...2
O 1M U
T
SET K
T h
h
e e
n ee
aa
lole nnrfwrsu o
e
ru
e h nrsnrtesp d
n
d
o re cesira
a storn
vtsu
e nrb
evh
dlcin,cd
ajsh
o ta ,o
srrntn
hsu
rtush
co
e o
g
ufa
hn
etgeu
m
sh
tn iivcatisn
eivn
ein
Cced e
iso
fm sEfcn
tha
om
'n n
p cD g
e
oiam o
fn
m cn iodtnfm
e
uiocfn
Kanitmu
.nocn a
iw
o .tuo cnsa nit.
3 h t
Aeue
ron
tcsf
S
f
ro
u
i
as md n ' i g
h ut m
ei n tl a nrb e w Va
l a i l .
bp
e
oit
ay
rl rm p r
p E
R r g
a
c A
.
s
e
a i
it
s
l e
gnoll
kO
tdifI
aSs o
l Hu nO d eW s
r
a t n d
.4m ihA tb
rp
essa
iutro
e tna
fr riee
y.
ca d a
liystmn n
i
r-sltc,ira g h o
p
c
sat eoe m
lnidfr as
e n
l
e
rporfsvey.ug h u
tsne
ta
, l
ig
a u o e
nfn
r i
hc
e
ficlt Tes
wta ff
lr lv
v y.
iec
bh bt
ea
oco e
tb
lw ym e
a
l ppa e
i
ntn
idoi tu s
n i
e,ag g
ht oset
w
&s
pl
rhsir
e k
lt
C OP BM A
5 0 1 M C U AT N IO SIN LK SIA B
N
C U
EO D
S IR R E SP O N D E N CPC E
L
3
0 T
3
0
O
sTV
iE S BsE
h C
Jn IT
e
u ota U
D
n Ita
n N
T
g
Cio e Isfud tb
C
O AMeb
aM o e
abn
tU w
slIp
N o Btb
eNlO e
yp lriT
U Ilp
u
,rN
n
S sE a e
iS
cIn
rasS cn
sodvm eifeco
a
rflta rn m le dwtntco irm
u o
cna n
ie
rstegm a
sinn du
pecin
ro
slia
o
b
.inftrun siess9
o
C vP
C
Un
E
e
tC p
CI
oicfsloN I
irtfm T m
oo Io
mP
N mP
RmCm
LOE
Im F
S F m
oG
o
EuC Vu
c
n
n
o cm
ia
iE a
n
O, uT
iItico
o
B
C
t
e
a
u
N
n Mt
a
wi
s
a
siC
ra
,i
t
,D
or
a
tu
d
M e
o
m
am
trfo
C y o
iU
s
m
C
fo
eNm
C
o
nIn
AT so im
Oso fN
u
m
m
oMc n a
i
o
IuP
,
n
a
cn
t
ou
ma
o
ir,tce
n
c
Oe
i a
O
a
i
t
C
o
gs
sn
o
e
u
r
oM
cW
u
a
C
a
id
o
O
,tfro
n
e
z
n
ltim
r
i
ats
,i
t
oim
e v
a d
rm
ec
n ir
o
dM
m
m
o
u
O
oe
cn
u
B
a
ivn
de
,.e
tb o
iscjft9
sro
aisrf
U
R I N Ie T Ia n
C
I
O .
AM
dniLM
seiR
gc
a t
tSU
iE u
N
,n I
lSn Pi Oilg
skS S,sNT
L
ie
lo N
I
K
rD S
lsn kE Iei.C o
n a
N instS ,lelkg o iaM io
n
sS t.llken ieigtsandConefe rnces,9
VBn
Iae
Io
tbUv G
rJan w
iR TNs
,cd
lA
a S
tmo
I
ip r
C N
sul
u
k
O
pmE U
lEi
Sp
RDI s
Wr e c P u
O nB i N
igt,iun E siessLe E tsr,ne qO isu
r,id resa rndReC piscr,luaislr,9 9
V ce
MnN
Usdn
T iu o e o sW.G
B
D oN pe R
m vIsil.eR p
n toP
ts NrO ,R TIA T R ca Wr IR
d em cep tn oirB gt,u in siessE qiutE et,tcnh n
irigVoy, caTP
brO
ulag
L r4
Tph 5:A
O
M
ATV
N
A
IB.ANAGEMENT 34
..BO
T
E
1
2
X
T
O
KS
S
2
0
6
M
:e
.MKa
h
R
en
,Va
gd
nalkshia
am S
n ndKana
hpa
e tS
B
rau
n
.rseilsa
Ceocm lm N
o
ucm
n
a
i.e
itw
EDB
xci:slch e
to
ild
oca
ke
rsic,.t
R
1E
F
R
E
N
CN
E
:G w OD :a
h
e
o id
xcM
UflrainP
g
yvetsri2
na sa
0 h
m
a
,04 .a .T h
C
cnaiom u
o
P
n
e
cp
n
a r:n P
..2 M
S
Eoh
da
J
.
2unrc
G
e
0ic0s
a0B
n
o
t."
a h
r
na
t
r.
St
di s e v
eM n n
G a
o
s
f
.g
r
N
e
sSol
re .
A
l
i
k
r
Wr
n.e
l
i
T
el
w
c
a
nh
lD
n
g
P
itoP
rc
ie
h
:
e
e
sr
l
i
c
an
e
i
nH
n
d
Pt
I
o2
da
orf
a
0
,
i
l
”
P
dl
0
ue
.
c 2t
a s.
r
o n

O
M
ATV
N
A
IB.ANAGEMENT 44
N T
E P IR
B N
A 1AT
03O N A L IS B
N ME M
US AIN IE A SG IT E M IR E N T 3 C
uL
lA
n
e fOcG
in
u
OT
a
tE
Vu sh
crS
Beo
iIT
lg
EC
J u
son,rsvd etiu n rch m eu stda eho ntew
,esd n
o
tbird oua
n
b
ilfsta
u
reinlse uirsu ctn a
soro
e nisud
g blem
ra co ln ao nm agey. mebn u
sytdnyg is:e td
ri
..1 T hec To u s
h rese icsre oo deu
psrru n
l
cotsern ah
ea t
b
us
n tl
d eo b
et
n
dhd:
s lo t
ste csu ta
2 e
T ixa p
m
h n
cuo
e td
lo u e d u eerb
a
h sn
tsle u
ete e rho td
lSt
n rteuo
m
se
b n
lsa
n ste
F o rinisto
e d
g e
sg ,trnsiu
E
cvrl,te
in cxrh
o ve
cnth
n eIm
fia
atnroa ginBBte
e
R
In a
d
aosn ekltfu
m
n
itrdh
sd tie
iun o
n ie
asn
o
insiisrt,
...C 54n
3 eo
h
IT
T
T
trB n
a ch
ch
h
c a
to
o
o e
e
e
n u
u
u s rie
ssre r
e n
n
n a
a
a
hh
he
e
eu u
b
b
u
b
t
ststsdllde
d
l e
e nn
n ts
tsts o oa
lhto
etln t
ale a n
hro
tn r
t
ec co a
ocre n
B
Rtn
ts
i eIo w
,
i
f nT
l
e e Ieo
tn
a ro
cs h
oinBtq
n
n asui lu
B
, e
Io sT
a fire
s
y n ts
p sd
i e
esov
cu
s
on
a
ai
ts
nd
ifln tlf
..O TM
U
T
S
1 E hu
e
m
instTtdeo
p
re n
srlch
h
o n
oe
fo
tsu ttg
r d
d
o
b
uao
u
ie
e lan
o
r
a
te
sn
Itb
:in
h lroo
td
aitbaun
o u
d bc lo
ue am o u
b
etdn
siess.
leF ed n
s
o
g e
,t
r
E
n sd
a
re
i tn x h
c d tn e Iia tnro ain
g BtR
ea
d s au
ltm
e
k hn
i
rstd eite
n o
asiIanso
rx,n p
t ad onto
rd
2
3eo T
Itu
rB n
aih h
a
tn e
us
lsue td e
tidssh n
s h t o d
ub l
e
a u e
b
t n l as r
t nh tb u n s e s e
s n
o r vn i m B e f t
u n ni is
...4 5T
T
T
a ud d ssn
h
h
tte
ennh
e
dtte o rnslh
eo
e fogd
n su
db
u
b
h
tle
ao le
in
o
a
to
aIu
ouse bd
u
blld
tb
iten
n
ro la
e ae
din
ou
te
b
e
b trta
ssa n
lden
rta
uln siensh
sa
ro td
dcnstte
h
o d
.cB
ta
o
e
n
ts
R osrre
i,n
tlvcg
ItTli,e
w
ine
fcahsq
e
Ito
n rn fan
ib
ou itna
B u
eIson
lsfsrn
a ,ts
e
id
T
ssou
yiE pe vnacisolts
tifnlf

O
M
ATV
N
A
IB.ANAGEMENT 54
N TE
PIR
B N A 1
AT
03O N A L IB NM UE S A IN A G E M E N T3 LT0 PC
un
e
lfian u O
T
cD
U
VtE
aurS
cd
I
B E
sh
e
N
T
C
JiIT
o
l-g T
Rsiou
I n O,rfsn vd
Ie
tiD
O u
U nrC
N cm T
Ieu stda e ho nte w
,lwsd n
tboirdo
ua nbilfsta ureinlse irsu
u a
ctm
nsoro
e n
g
isu d
b m
le
reioace
o lis-rnao nm agey. meb0 sytdny3
n
u g
i
Ep c-xdr o
rP
ypt
tm i
En
o te
o a d i
v e sm t o e e fn -c t o n o h ct f
o
mr n e it
s
on ro f
a i
n b
ta ulnsie T
hntnd
s s
-ar e
a
e U
IW
G
e N m
oE
RIrN
tT p
lo-xA
l
n
b
E
z
p
ro IcT
o
e
o
a
i
ta
n
-iO
n
xrtcN
b o
tlO
u ha
A
ufLrIn
n sa TMd
nB
i
e
s-g
n
kN
es
a U ice
d s
u
rE
-
tbc
a
SR m
N I
o
n
S
O V n
aF
I N n
g
o
Oe
M-g
isxtE
mc a i
cR
p
n
hT
N
tcl od
i
,
a
c
E
u l
nX
e tar
ga
n
l
e
o
rt.agem
rv n
i m n
e i
t
on
r o
f
exc-e
t
ai
n t
b a ul ns
g
ie0
olsns-kit1
e
a
u UrSo
rg
dtctIu
niead
tNIrm
a T ItlO
l LAB G
Ip
L
g R
ST An ooM nef g
M rog Aio
NC rN E
TuG
A ld p
GIie
E szE
o
M.la
s
airen
r e -t
ltN
E -Teg
gcp
a il n n a
n
rsigsium
i
sg
r e-
t g
c io
eis-co
n d s
pa
ilto
ie o a
r
Isfd
i
n
a
e-g
t
nso
-a
oin
int V
rtd
a
ae
ls g
lb
o 0l
b
ce
a
sr-
1l
VC c U
CIov Me
m
TN oni Ie
f
o n r s
R
O lL
N
tNT.
ie t Ea E
V p -
sA
p N
o Dr U
n o a m fi
rL
hceAohN
t O
r
ofle
c T- O
E
a
n
o
st
i I
T N
yR
I
o
tne
r
sFlN
tm AT
p o e m
- s
fO
r N A L
Ia B
n N U
cEem S I e a su e r m 0e n 1
t
m
V -FUT N e
a Itccn h
o N tC a m
srcT cIE
O no
asR
N ifuN CIe sF
n L
Ta
AT
iIegcse r-nu
cO
o stN
icn Am
L
o
lu tve
Ifsciln a a
B u
i-crU
p
n
sN
htlo oe
tS mf-ro
sE
N
e In
& S
rte Eo
n Sl.G aO
fe nAT
go ca e
TdiIO
ia
o
vtN
n i-usS
a
trista
e nlin
rItn
oaide
tvb
n o
au
a a
n
llsiT
yn
tse
site
m ss s.7
h tB -O e
rTo
iE
lX n
eT
O o
e K fr S :h oa i n
t a gl e n i or
c i
t
s
n u
f il OL T4 5
:A
..1 JR
N o 2D
ie 0n
w D .,o a selentla id Lned e H rR Ls.n hia d e tb'T n
a
ea
o
n
Itu
rB n
aig'aath uln
P ,se eie ,m
sa'sro,e n
E td u occG n
aita ra lA
,sii
..4 32W. 2
es D
C0 ch M ,d
0
l a
hha3re
Hr n lI0
.eLt
0h
' s H
n
.e
d
r
its
g
.
l
, oa l i n
t B
a F l eu d u tean eo
n ItrsM n
a is,sa,ta la M n cg GN a
,
er
w l
2
HD0ta
lT
n
0
,a
'M
h
i N
e
5i l. e ,w lw H
..1 R E FR E N C F E S : a r n C
s c i h e au r ml
n e i
I n
t o
r a,nib ta u n l s e
i ws s , h e pe o
c
url a ni
b t.l
2m o nN
ps IA
H
M oc,ifn
a
d R
h eala
CinKS
w d
ln
e z.M
.,lEkB Dun
i2
o takdSt
s,0 Iia
k,h
en0
mra ilo .1an
,0 I.e dA w
R B
.onke
Tat'ch lra nke iI,n
n tM ordaMcn
ih
B
ta a
Mieu l.lnsno e
Iieff ts'n rE
setin
,o
a otrvn
n im
B
a luP sne,crie
e
n
i'st,s'
OMAhTV
NAITB.ANA o G A a EN T2g e
ar0 ,l3 64
.34an We D
1 9.do B lna len n M d eltu lcsm C
ii'tn eo
s,Initn ru
o
lca ''ah ilnB t,asuu ln w
n rsg lIn
ieM ie
s,sw 'cG a
N r0 w ,.e Hlw li Y k,or
..5 VR yo ug paB tkE reIsn
e
N
to
P
T
rh
R B
n 'a
E
iB
A gn
P
ta
2 0
,a
3
R
e n elrn
E
tIon
tm
N rP e
a
b
n
E Utu
pa D R
se
s,lE P iS
VaH sEnrp o
sLIO 'n E hib
P
N
M
id ,u
E o
NcN a
n
Tit,D 2w
e 0,heD 0
2il0 ,he
0il6.
L AOG
T C 3 erftd
e
s
r :i
se
stlh
n eOlo
p ird
o
crktS
e h
vse
oits.fu co b a
tye
n irltd oca nieo tsenmrfp terna en u esrp h
d
nerie tpe vro e np lem a
o
uhln rtm cg e wha ln ,taltia lgkhe tuse tdm yents aa byw h
a efn e
tcig a o
.sa
tu
1Ve
E p
B
E C
JIT
so T ru fe h
tch ce ec o
esu u
se s
nsflrp r e
tm m
a rinm i ue as n t d e a
s r t n h n d t ecg
i o n c e o en
p r f p t e r n e u s
p r h e ,i
sr o n
c h
a ca l s
a r
i e
c
t ir
.2h e T
stT
p
cuen
o rvp ao ie
u
sln yr.
ff ce o rd b C ye
a fam enyan rSt
d laEstu itd
sara
,zssa D th
nh
o n
g kh
ie
dg
co
yslu
e
itn
vP
ae
euskrmtia td igp
o e h a
o w
e
w
rntnfn
e
sm
cge
trtiu
toah
d
lgciB
rielctnP m
se r,y,ecie
e
a
io o
u
srp
re
q
n
scfF
u
a
len
l,te
ru
sa
d
b
o
sslefiikrisce
nd o so
h
d etdn
rp om
srgvniu
u m
p
o
a
g inen
illp
n
tna oisge ,.t
trcttd
.3em r q a e
sn i h
thvta d et c o P s u , ose
r p a
jm
cl o
e r
t i fa
pa n f m ig t
r e t o dr i P
n e
t , e s
w
r yh f t a i d o
b
sl n Pop
ey rt fo
apr i bs
o
l u
i
et
r s ce
o
pat c
i t
o ns i a rti
.4uT fa o n n
la
tich ru
aieocig
sa xE
a
lo
lo n
itu
tsio rfe
.n rwse rteixh
p rsp n e ce
cu
to rd
m
phta u issp cd lF hna -a iskn h e
n tle
tscb
su
H etd,cR e O n sa,tw pn o ea ire
n
M vtsroa ,a fiu
sra
sniku
trce
gcnn
iu
a th sivto
sne
vee
i,d
lna
dil
.5hT
C
OMU
TS E sse
t
huo
t
e
d
n
ce ce
h a w n h
se u t so ratem
hcve
w ia
yto am
e
e tp
feticatflage
to se isa
ta nh sksw ig
tn eu ate
e o
g
rse ld
e saso u
hmn od nstu
a w o ln
h m
a
h
n
stn eiolsw
ig
uso
.a
ertnvre cisd Ie
kuisvn t.su eita le b
n hie n sis
.1eu tES
f a d et r ae
w
s m s r nh,l t o
s l ak u
dib
t l
h t b
e
d
m t n l e i w f
s u c h s
a
c eo i
n e
a s us
n e rf l dt
wp e r h a s
qi
e a
r tuq a
t
e i r
o
un
b dl
t i ed w c o h
m h
s
oa i
r
e
ct h
er
a a n ca r s
i
cetir
.2u ad
uGn S
ftelre
ctp
nrn
fist,rn tucosh gisvo h
reio
.d
rn b
u cm e
lu
a
ro iu se tb ng liE
e da
co re
in lspa
crtd oia rua n
rh tng dte
ca o
g
ilm nB
ciltd
ce oso p
u
fsn.tsp e in pseg ion
Ertn vie m
n rp t,o e renan
ige
hto d
e va
u suih
rp
rsi
.3u dyh o
d
tasS e tnu p ed gr,pa a ea u xsp e nve
e rce ncad
loh tg
fyd
e rtae ia
p tsbD lao in tnrP g
e ip tdoio se ievrb a Pu .a rte tiducts d n ap e yf-taib sli
O
M
ATV
N
A
IB.ANAGEMENT 74
..4 5u d S
ge tn sh rrh oa ud ble se a o b
e tvlp xe vrhpantu e
lim tve
ro a iusrno sidsu e
n siva o
vle vtnosd
tditactn iig
a
rvtd
eu sn
hsa
.cte
,rp,htp
yel
u
o
erdtSvo
e n rctisw
e ku isaa ne
te tie gq devp siu
fe ym ifp
cP
E
n
B
N tld A
T
o sn
E 2
cta
d
0
R3P
g
ia u a h
RntE eta
N
en
gE
n
U
D
u sR
E
et,rm
P
VS E H b
L
O
a
Iu
a nto
P
rlh
a ln
M silo
d
ieE w
o
asvfu
N
ra
su
T. 3
nlacig
e h
sakp o
n e o w
O V ESBEC
JIT L T
0 P
0 C
3
...2 1
3
T
T
bT
o
va
o
og
epa co
c
rd
ion
q
h
m
u
ve
s u
io
vtdtefva
n a
e
cw
u
E
eo
t
a
riin
pe
n
nirro
n le
ts
ttdo hra
fu nio
e
te
w
o
tse
h
n
rrfe
n
t .p ptte
i
e rprnneeu
e c aa
ch
u
serilsa
e rn
p
n
h
dd
lw ievo
g e
e
h
cso op
lm
atan ftmgn
i te r p ee
w
n
v
.tn
e
tcea
n
u e
t
rse
ano
s rn
ed
r eun
t
i dceo
id
g t
U IfuN
T n
IE e
E N w
R
T E Pp Ro r
E Nd a
E
CUu O n
R c d
A
Mts c
e
L iv Pa
r
iE TN s C. E
S E
o
U Ih e
n
Nr
c
In
T pt e r
IrE n
se.u re p
f
tl e u
r sn r p
Kh
c e o i - u n roE
c ew - e n
pr p
dtl e r
g ne
a R
n
s u s
d
S
l r ph
eal a
i
k
qs
C e i
or
u d
n
fEria E er
n -epntre pt e
nr en P
ue -
ue
r. s
r C
oy t n ih
a ca
ls i
rcti1r6
e
B
O
R uet
Sse io
g n esNu
aIE
ni
to
T
r
Rp
tl
-s
a
E
o
n
i nB
P
rR
p
O tn
vo
a
E im N
t
u
l rg n
E
R
s
U aRO
N
e
i
RoV
s
nFA
N
e-Ia
So
iL
M
s n a
t. flte cmE
aCyvN
e rn
iT - lsdSaE
eia n o
e
r-ldyn
rtSt
cp
tierneusp D
arehG tievo ev peln m
r m eTn
Peacg
rsa
I
d in
tu
n
o
l2
t
i d
r
s
l t
U
S IaN
-oIp TIldicB
Ire NU P
ES LA
iIPS
trRN E P AT RO N A y-.sIo s2 i1
VLC -R
U
F
n IB a T
N
i
a
netIcu p
Pa
e Aon
g
etrUP
H
d
no
sp
e N
fo
g
oP
a uC n
N rd
iaS
O
m H tGo
B
Me
nrufIP e
F
rjd
cE
B
A
ulto
a
n
N
UrLsie
vE
R
n
fSieu
a
o p P
Ia
sln
Se
ie
CSt rta
te
s
rM
o
fir-tab
in u c
lsu
r
M
e o z
iaco
O
n a
i
d
S
Ca
te
i
fntry-ig
h
t o l
pob
e
iorlcin
E
en
ia P
P
r
s
o
tn
t n
e
M
rfo
l
trpd
n -
g i
erO
a
un
k
-cetw
r
e
n C
t
d
uhrtn
h
eP
a
ieF
nS
rh
o
e
0
no
p
e n
tia
-yjce
il
c
-t 1blsi
V StGU
T
M h
o
wN r
It
a
neroPgt
a
i g
t M
r
n -osi
ri d
EA u
L
N v c
a
A
ou aBtG u
n a
o i
l n
tE
f
u M
ncs S n
e
Ph
iO
M E
sgi
eB
N
- F
r .
AU
T
v EneL
S I
gn
Sic t k i
n e sa n dR o B a
n
e
i
o t h
f
un
ia
s ei
lb s is 5
vBE
esTU
i.fctX
nfTiK aS :cs'a gemse m
o B nftun la sils. T
O LT 45 :A
..O 1E
2 O S H
E
P .a h
rinrve,a Etpne r'e a
nrn p vte ,e rn lue
D asru h
,p ita
le rvTi'o aeM plm E cGN ,seP a
n',e re
tw l2 H
kD
e 0alP0
,yhie1siuln
.hibgH louC se,he8n-na i
O
MATV
NI1
A 9
B7 .ANAGEMENT 4
.R
3E
F
R
E
N
CS
E :S
S K .a.m hE ae
n'rp
ke
tD
arn
,e
a
e lu ivo relp-lw
m
SnC
i.g
,e
h 'n
aA tnadn C
d olmepn atan
mN
L
eya
id
tin,eiR
w
2D
0e
0
,h1
e
ii.,h
l,s'
...1
2C
H
3N
P
ta
T
.ra
P
1
9
ff
S
C
tL
M
a'Jrsen
a
.(o
,d
lg)clo
in .G
nP
sd
e
C
h
f
a
iuro
gb
r
w
b
olh
T
m
e
P
a
lco
H
o
N
c
n
-P
ftkrh
rjd
a i'r,e
E c
pa
n
sn
a i
d
l E
uoc
Mr,n
m
e
n
a
n
i
e
Lt,1
p
t
yd
tie9 S
im
9
rann
o
ysIa
6
E
e
l
n
e
,.n
O
d
iC,iD
u lcse
,,trp
'Im
o
xR
eId
ofe
U
rrtevn
n
f P
ye
stise
e io
raN
sh
c
n
sa ,nted
w
St
d
IaD
u
l
vw
i
rstff ea
il
m
oP
fd B e
,et.w a
r n
h
1c
Dep, E
9,9h8'
enrp
il.t,
ar nl e u s
r
p
D
h i e vo e pl m , eta
T n
a
'M t c
nP
G
C
hg iuob
r
wl
m H l- pa
i y n

O
M
ATV
N
A
IB.ANAGEMENT 94
P A T 70
1R CAMR
N
IA T
E F
N
T IA N V
M E S
LA
C E T
IN A G E M E N T C 3e srtd :i
G
le
Toao n ha u
..v
O
e
1 sie c
b
e tL jfrte
sT
D e
b
p
o
n
d
fdav
lre
ts k
e n i
no
lF
d
ts u
o
w
uo e
M
tnd
n i
d
ocl stg f
esa e rthbnD
e
t
oa
a
h cn
ue
o
g
te
tdnvo ce
m
ep pl mts
e
oo
n.
feacA
t
rft
f
n M
Ar
t iaT
i
nr snepatao tniro aR n
n
i t c,ie
AT
e
o o
IA
o
s
ln
a
CvifIdtiIA uO yAsrn
a td
, .
..32
m ipa oE T o
n uirkkvve
a n tla o trw w edd lgg eab hpo
te u ta cA re
ft SniM o
e n iclP tno cra c,ea rF
sft
eS sP iel,atcn lne g
ia n id liCilte w rA rift
..o 4T
5 TMM
T p
o
a
o
p
o
d
ke dqnr rvken io
u t
ain
on
in
wta
o
in
e
c ae
wdn le cglep
o
d e aish
l
ro
ne
c.E
A
g gtneiq
a
e h
ba
cA
t
e
oru m
ft
Mu
iR itT en
e
M yn
a tcei
h a btle
n
n
n
o
a n
itcg
,iiP e
l
anaa
y o
c
Atn
irft
M
r d
o
e
u
in
i
e
n
cA
c
. a t
t e
S
i n c ce h.h ed Cnd
e
u snli,e
o nu
w
n
M g h td niiogta crA
n ii
m
cO
1se
eu
tn t aI D eb h o s
tl e u
s
vpm t d
lsb e
osfu enA rta ts
tT ino
reu tn
ta
o
spo d
rna e s r
t a n d a b ho t eu
v
o at ui r g
s o v e n r g
i
b o n e d i
s o Aa n
iv t
i ,
.2 eee tn IIM sa .b se lh rtd e d n
tP ti.mllitn
hotfF ere liae ,rstta cA rqftS im e
olcin ate nnd T io
eavu aha cce
tlC ten w rAi
...43 nn ta h e IS bu
te lh
td cm lo
ue
ih
tnetslid
ts e tg
nie e
uia scA
wrh
ltn td
ftits a
e iM min d
im ep
ia
ne ninao tvn u
nitn
E cia eP p u
cacrio
e
crid cltsshn.ia
M tu n
sea tn hcn ke
a ida
5e nttya a IRtn ebe
b
haid tslte
sp ue
b u teo
d fm
re m n n
iP A
mts o
T 70
1Reo tp te
m
C
A
n
l
A
p
gle
MR
N
IA n
T
E e F
N
T
a
cAnrft
IA w e
MtN M C A
E
e a
N T e
A c
G
n h P
E
e
S
n
M o e go
iE N
u
i cAe
c.rM
TL
tftde ia
e n la
n
t d
cn
i e e n
h . g
te cA rfti
v
O
esie c
b td TP 3 C0 3
T fcsh
u
n
e o icjo lsu
ie
g sdore ve n xn o
pe tihrltse un te d ea
rn csg
notlcu no riolh
tfng
irte ifvd
o za
au inircte ysh u tp e,fsp
tvm o
roievlyo
arn se
ra n
ivta
m
flctin lgn a
em tine pa na ecd
lstie,.
hte o
m
UrIlp N
T e
T
R n Ie vO a
reIig cO
D tarl.a U rtm
Nio
C frtm
a Iisve
T a ta
tin a e go a on rntvh
isg a
e oy, a ig o o
lsafm ncahlg
e n
D
T h
O
M
e
ATVNA
og
IB.ANAGEMENT
p e n p
ra co e im
a
r tn rfo
v
al ,tina t pa
id un i
sFy
era lt
- oia rnw c ho thsrta iemfn rcig tgoe da e
nrtn so
e saR
frpo-va
lAT
io
e
In
t
u rl,fsC en IoA
ac
p
i
r A
e
a f
r
0o
,
l
iO t,:-fitr58
om g
Itro a an
so n aIia a
p tF g en m e
ran tn
sd ecg
m rh
vo late sa n l-ita tn ag es& m u
eofn m
eico n
s,tftran a ssgt.e em 0nPe po csiln
r,f1t
pa
ay, U
cF N
lnE
aIcTC
ie
ruR
aE
dIO
fcfA
P L -in
srco
e N
tncta iln
rssta .O
ge rlt-d
C
M
zlsu
eF ih
iS
egtt,e Ie
lp ia
og ltng an e
o
fhrita g a
esiscn
e
ar,-fe
n
ftop
i,T
d flta
cP rm
in
u tp ff
le
ro
Ie frsi-n ce
rlA e
cn
n sie
g
d
otslp
ef,N oC ep
ngara m
Iig tcG o
pe ccsa
h ,e
ciiotsh sn
:o liVa rn irincm g sice& ltairp tlo il
cfU
D o m sry,o re me
a
tp otB
ea o
a nc- i
u o
d ff e
sg o
te
n C e Fn
gi cl-tit,g L o c
ap E hs n
l t onE
c
e org e
il- o
f u
, e
t
A f
c s
r e Li
w o c
i
e t avN a
un
oR l
a i
nd - t N
o u e a to p
nT
t l
a
y q
-
s el cn
a
ca
u
Aticr-lp
s fe
to
ft v e
F
o
&
u
ae
na
l n-se .
o
ma
n
e
iVA
p tsq
r El&
,UiIuIT
p mq
iN N Ip
a
guT
Im
n
IgoRi
P
irIhe
g
N
pl
R
Ca
fIa
P
ns
t
C
l
IL
R nt E
eO
R
IN
y m A
d
p
A
S
n
t
s -
R
L
E S
F
IstS
e
F T A E
C
o
c
Ya s A n
h
r
L
a
efH
ft
B
Id
te
s ini hc
Iu
E d ah D
ue - ngb o
&U
N
l
e cF hisep d
LGto Il,eo
n a
u n
iinre gk a
tw
lsien h cta d
h
rciea
rrwnd
a
ft
m gsu
id c,lvha
n
e e t
n ia nd G
t
s
ag
diua
ne ,ilcd
o / re
s p u
va ri nc
st d
a
.otgp0 o
eysa nirta s1 inald
9
fci
T-yhte
m
a
iE
iV e
b
lrxn-A
lUtc
iT rd
a n
tNeifrItdn a
E
eT Ep (n
Cie
s R rc
Ht e s O c h P e & S E s e t& ) e
TO li t
m r n o i
a Cn t -
s P -o
A S n i
mgd
tnc
aeri
gam
ft io
n n
t
i
g m
r
e a it
n a a
n e c i
tp
e n
o a
r
do uni c
.
t e
nE e
iA nslqhrg
-p cu
amh
irn eo nde w
g
iu
n e
h
(rrts frN
tle inRaO AcC o eN
L IRtO M
n
o
d A G
t-n IN n
gFscTrA Y
iE
e In
slfP
N
ye
A
s-g iotrm
N
)dE C u tsnEiu can tg pe pao cn trft
d s-u rpaia M
ce rh -stlu in
a
tle tine a cn cre r8lt
O
e
m n gb
n eite
a b
nvoa aidm ntm F ce cn
-e
u
artte n
tifrn
o iae a
L
u
o
ftin ca
gsroia fatiaen g ft
m
ce e .-sn
n
e a oo tCmrc--ea
ig AT
un o
erwg intcb e tgm Bin
psNoitn
o
gafen
o
ira D
bld n iga
TA HT
L H
n T
-4
T
5
ta
R
O
e
-iu
o n
b
S
cyiro
le
p tr.o n
BO O
..R E T
12X K S F
C FHE .R D.E M
M IApN
ARro
"ta c,CrarHift"D JIin
.,ia .,g em 2a0n0 e ,a "0ng.tem
.....3 12E FN C E
SK R
G
W
P O EN P
HFE Ln
PL SIIift
e P
O lrte
"O n o riA n
C cNa e&
n
B K d cM e
R u
N L E e
"
DI rY sco .T
",O a
o n rn .o A
ris"a p
mN
T toaio
c
r rn
s
200
,fsn
i.
pa
"
e
o
,"0
t
n.t
rn
4
5A n aI
d "
n
E
1
9.L
3Xi A N D D a
c
E A m r
RW G -i a TEL n C " u a A l ArLP"a TSun b
irsWa. p ,ta
orn ,i"t d sCw Pg
hiu otb mrl pa y, nC ofn ra iil,
O
M
ATV
N
A
IB.ANAGEMENT 15
G
la
a
o P A T
7
0
2R A C IR RA U
F T LESR EG A NUADLO TIN C A R .IA IN ID C 3e srtd
:i
T
Do
fzira
e m
h
e ittrje
co a rslo
u G tidents Ce
oelavrfA
awillvh
n i.te ieCvlR iA re uia slnd Reo gnaW
iutl chaio eb rw n le
og filed by
..vO
1e
s e
c
b T
R P o d
eh
r v e
tqki nru mo
i w e d
a n g to
h
d
R hn
t
e
C A
e
O
os
iR
.
ft p. S A’i
o e ‘
e
n
a s
o
lbi
r stri a n P
B d-
‘ o r
’ c e d Wo u o e Cr f rlv Ain ih
e isd
tr
..m 2pa
3
4
iT
w T
T
R
Ar
p
o
o
o
d
n
p
n
ko
hr
n
g
k
v
ee i e
rn d
i
.ivo
t sp
ar
o
te w
ikored
nw C
edo
d
lg
lnw
o
g
o
o
e
ueei
nC
Cnd
n t lg A
A e
owR
R
n
A
C
C
r
h
e
S
i
o

Se
e
S
s
t
‘
‘se
A
s r
e i .’E
iR
D
Ae
r-
-r.‘si’r-eR
cr a i M
ft
fA cte
n
ea p
t
n i
cpo
a oO
n rd
n
rvM
oc E
e
ig
afgrl,n
a n
CzIo
o
c
g
n
va
n
L
e-
ii,n
n te
n
ig
e
,A
ro isan
tsrg i
taR nS Fe-‘s’ir
.oc5 tT R p o drm
e vkein q u o ise.w n e
tdlg aebC outAR TS e’‘a seiX n
r‘d ’g F
-ihltT n
eg isotfa cAra
ftniM d
an slceio lus
..mO
1s
eu
St Te
Oh u d e n t ws e o
au r e
t b
n l
d e s r
t a n da b o Rn
C l
i
u
aA
v ti
e q
rm u i e n ts R , e s p yotfinblsi
..3
2en
e n t
tP
aA
I
Ip
a ro.b
eh
b
e
rg
a titrslh e rp
u
lstO
m t
ee
oa
d
ssu/rttd
emw
n
se
oduItn
ts
n
arho
e n
o
tsA
k
e
t
,d
irP
n
aAp
o
pn
lnp
wrp
h
o
h
Co
o
t vre
tig yfP
e cR vrt.fa
a
p
o lC
o
M
a
o
r
irlcAe
ib
gkrt,p
lp
e
sa
h tn
liroEe
tm
droctlC
d
p
u
L
ke
o
er
D
fe
n rr,h
m
s
Lo.e
o
gtl e R p,e oa
e cA
o
M rftte
ia
ns rhn tsvn
i
o
io
e
tvae
f
n
ilcte
h dia
c
Arft ,i
4e
en nta a P
Ie xe
b ho tsu
le iuc e
td uedsuo
I
s
nee r
fu
ts oe r
ktd d
/
voa
i n
nesortwl
tf T
abd y h
ostn ee
uc
C
sId a
u i
te f
otoe
iftr
fAMa
cA fta i n ts
d i
EcEe
L
ts n
n
iFegca se
o -e i
.
ailsn fe
atsgiisn
.5 sto siIfe
A rcb
u h p
rte
.a stlin o
C cre
ftdfo
q m e in
Rfts,A u
o e .n
otn a g
srintmi an krigaso mWe fIa cA rep
ft,m
il g e
aph o
inrtcd e
B g
dahiu o nltrfscT n C o
ato fd a
cn
nfoArft
lti

O
M
ATV
N
A
IB.ANAGEMENT 25
P A T 7
0
2R A C IR R
A UF T LE SR E
GA NU A
DLT O IN C A IR
.A .3
IN
L .0 T ID P3
0 C
v O
T ee
o ti.evtc
a bitu
erjcIa rlh
sC tie ln
vE c.A’ iP d e r‘R g o u
o A
U n Iia N
T A R
S N R D RE S IP O
T Y-aiL n lC
IN
tsw
OB R
E
P A
S I D h cU h
ia
R F e
rO
TEbL e
VCn oIio
R glWw
S
flR
A
V - IWA e
OR IA dR b
N
O
I T yD
R
H
EIe
S
E
R Q
N
rR
T H
cio
E U
M
D
ta
E
I
S
re
I
C
S
G
EtN
TO T
ATS eneC
ER
oarlvfi
9
ge R
tC arA ewso sipfto eh o a
niw tr/nsite lrbsn iP s e
dr -o
srio cte ar d-
t uC e
o
ArfiA
w oh
n R
tsriesiusae srm ,gou a i e
n
sl
t n
a
s
-e dtm
y
o
f v e g s O
ro
i he-ftne ,scvb
g.teicja
n se tn e d
i g
s
r a
tv i
c
oM o p
f(e a
rS
tRo ..E S .I S
L R
& - CEU B I S E
D' P L O
R eV
P;r) Ap L
o a n
i
r
a O
CtA
n OFdu C s cTeK
o Pcf
aI h C
ks
nt
p e i
dH
e c S
l
kE
m T,
C L
I K M
egr e.
s n
tE
i cC
ly L , D D L e c
s
: n
i
t
e ctfly
ytorU
P R
m iaD gaIrlN
inIE b em
id T S
n
a
-lF
eNIG C
R t
A
E
i n PC
O mR
a
E
.IT 'R
n
SITE
e
c Er (
p
eo c
C
rn
i
fc
O
nag i
e ti -n
Rs a
c)
A
n
g r
T
D
ft
m N
e
i -s
B
IG, n
ea M
O t
Rni a
-
O n e
TO
o s
N
c v
n
i e
p
NG
Iorga V
IrmER
IS G T,IAT
m
compoen9e a h
e
&
M
O
p Or
te
-
D
p N oiIrvN
- n
aecao t
in
A
l ina tdn
t i
ua9
f c n
o
ipld foi
oe aATIB
sUn
irtg o
ssh p Itce
N &
T
a
o
pIa Ooe
CnIrrpilo
o
n
svAtvg Iau
ri.n
fs--a
R
S
e b
m
l.sF E
n
so
a ..ta e
isn cR
pni-o
tsia
e
gEL
e
rt-O
.
d
Rn
g
Vrh
fF
tIE
Pg
-ixA
sS
eo
g
ir'-su
L
e o
e im
isrO
tA R F
A
n
B
aetin
G
C D S
A
,EF,
a
N
,T
n
I,O &
cN
G RS eoIe
e
d
ira
T
;q
snd
rmuien ts naroiE fsu frS tcuS tPern atrgte
C A oaR .
S
rhitio .
n -loWE
a . R O E
RT IA S ' N EH S I A C
N OD N NU W E
I D RO RT AI H N I o c i
a d e tru
l
e r
pA
VC
sR
/U o fw
Iu ArIT
Cn
Np -fe IS tsA
IR srcE
Au
Rl.LarfieP
R 'E.RY
ft
F
M '/SvIT da o rla
A o
N ictn eo
cIT
C
E
dcfuia sfeo
rsifto
ruerfev/d w a
AriE
o
n
R helio
n
ts-o reG e
qfrm u T iyEpen C
ctsaiefo rta
cfia tfift
rn eaw nts cd
C-eo n
iaeg
fslitetr9
M
Vn Ms
Ig
U
ISA
iFie
T p
o E
N
e
o
N
enE 'R
F
I c
s D
S
G t
.L IS I
CAT A
-
M
R
H E . T R
. E '
ts
Eco
I
S
L
e Oia
MN
n
T Cstlfn
I
-e
sO
G ATiF
O
d IN
eD xIA
A
p
R
FO eN
IC
n
irIS
N cCerq
R
e
A
ru
A Nm iN
F T
N N C
D eIL
E
IIn S tsNR
-N
C
P -S
E oIG C m T
O Ie p
C S
N tlA
.LM eR
S'si.r:oa.n
/9 sciM d
ao
ya
tritfodi
p
C s
Ao
Shtvn
R lMu
. syE
r tisg e.S lo
S
-(R d I E
C Xf.e I S' Eirsa crL )a riLsA ft ofisN rue E oC OfoU fF -A g
S ie
R h tn EstitgQ oacrfairUo
w
RftfIrE hch M iCoE Wrh b N a
e
Adn
- g tT
ae
h
c
or
Mf
i
tS
nRai n
ir
tg
oa
e
ksitfrgi
ua fn srn hiO MATV
id
N
gm
A
bala
IB.ANAGEMENT
ne sitcn lrca e
rC cift o
-o no nratcfln ea scro
Ps-a
irnto -frsa coAvsrft
gilb
sarn
d oP
itskf-o ifkh-so
D yscanuia nmsktn 'iacrU o
be -airtenctfadsitoren 35
bcp
a op d
frvia
fnlp Id a oin ereg seatie rn
P d-eca
ro ticp fue idn use o
scirn
flu rg
sia eoxpfeP m
rn s-.o trcieta dT u
so se
irp
lfu ro
yfeitrd
o
p fe
Renfca
re
c srtm
o
:"Co n q m d tm N o o e 4 s5
g:ht
...2 1
3 D GC
"
b"
a
cN
o
y
A
A
u ft
rR
n
l
vM
sCi a iA
,etve
e A wi
o rq ,D
T
a
mu
i
nB
hs
n
.rE
h
a
Vo
eeio
nco
u
Ie
i
I
l(St
n
u
,d
a
"ni)ts
o
a
f
i
mg
rk
tl
l
luw
o 1
a o
lm
a
e
i
nCh
7 r
1
t
Ct
l ,-c i
s
,
r
Lte
o
u ani n
e
a
-e
rsl
( i
og
E
o
A
nt
tsin
a
om td,iT
ru
m w f
A g
rCne
c
D
h h r
N
i
B
n
u
e
o
,
h
sE
tt
"
em
d
s
s
ri G
o
,
in
o
e2
)
St
Sog
nkliecA
(
w D
C
1
C
w
t
nr to
7 e
.
A
1
hi
e
rn
-,o
ote
Pil .
n
ir s
,n
u
"
h sa
ib )u
e l d
.4"A om frvd so D
iCc,ya"ru
srlG
i CA.
G
lea
o P A T E7
0
3N C R E OA
LIN O C
M S I C 3e srtd
:i
..1 T
v
O
eo
sin
e
c
bh
t a u
jt
e
s
T b
pd
o l
d
re v k e in
n ots o
uwtn
e ddl gesa rth
e b t
e
oau nh dA
t tg
E
e
r ia T
i cso
n
r p nro
ta
o
E n i
cm
,o t R
n coim n
e o R gn
cixta
un
ie
iito
IA
eld
rR
go
a u
ye
uirtylsro
em trf..
2
m i
pa Teo
r k
n n
d eo It r
s
i
n w oe
a d
i
nltnga e
i
Sa
l b
A
lh r
eo
ctve i
ru s t
n A
i e l
r
E i n yra t n d E P c
e B
s
al , t i
ar l eAm gr e
nt
a ds
...4 3T
5
T
A
T
p
aokd
o
op
rg
e
q
on vke
rrd ue in
vo
ae in so
kiw ce
C
n iw
d d
o
e
lo g
w
d
mlo
e gna
eclM
eb
lR
d
h
pe
g
to
u
oe
rh
S
e
ae n u
so tb
m
viE
e tsrd
ya
h to
m
o
A
in
te fC
svo
uD
g
ta n
iaosyta
ytisrp
u
fsoilm
tsee
stn
osfa
ain
cA
san
rfta
na
mindie
ih
And
l.rdie
trR
epa ia n
ostfieo A
S lrnCctiecva re irso
g a,n aT
h vte
rd e
rli
..1o
m
cOs
eu
t
e t ac k
h
eb u
i
t
u
e
sl p
a t d e ou d
Dt
nv
se S
ty
i
dr e ase
v
rr
i
t
n s .
da b h o t
e
vo u a ui
t r
E s c o n o m R c i e o
g a
n
u
i t n
l d
R e omfr n i
2 n
en n
ntai
e IAd
IIel rb
eh i y
s
r
tlseitsu t itd e
o .
utan td
...4
3ee
enttta aa
IIo en
b
h
b
h o
tttsm
ssle
lle
eg
ud
u d h ets n ts hb M
e
oote
d ua strcta
o e
lrtogrd a a
e
ssn rn
tpd h a d
lyd
otve P
sb
fle
to
a iA
ro o
urem
fnrsicnqst.sE
leuirsA
iS tlw
ayrnrcn
ire
trP
evie
d E
cP
ytio
xirlcedue n
orfse
riAlri
5 n w e
bh uittrd d eeonn o
ts
ts
da rm
u
o
e o
frto
std
n fpoe
uea m
itn
sn
o .ia e nm a h e
u nFtnP
e Aig
rtF
e hia
A o nag F
dreea arserrn sch .odtrem ion ipte it
O
M
ATV
N
A
IB.ANAGEMENT 45
P A T E
7
0
3 N CR E O
A
L IN O CM S I T P L C
S
TR UO
T Ie
oT n
C
N v he
b
a u
T:Iicss
te jb
tle
d
U R nE
O ts Tu
o
RF tA
n R NdA Se P sIO rtR an
TA O hN dtecIo T nom ercn o gia nun tileIAdlruiysr0 t3 0 .3 8
A
R T CA ar ni h s p
o
a E
o
n
iar t -
s c e
s
n iot
Ie rtn fr o a m i n t S R
ca il e tscv g
ro
iR
e a
u
n
O
-i t
le
v
St b
eg i-
cja
su o
t R
y t lr ur ce
uo m
t
efr o E
n fni-
e c
I
A
dlo
r u n
i y s
r o t m C
.ci2hca-sir1e ctir
nN
n
IL
iie
E U
MIE
A lrrIa
NyciiT
n rvg
e tn
srd TIrd
R EP
Ge AcAYt-isxoiN cloq o vDE ie
u P
n T
tsIEXIreiO In
st-m rC EL
oaIiS e
ntR En
atle nB
a g
ltoa
yr-e iurE n o
ltG efn
m
A -yrgto etvC
n es-n rmue rtne td
nRe
Isitnro e gtou
ain aE
i-no
ltftxi
COIe S
S A
lA
IC
U O T IeN
AicN
RT
Ia oFerN
s
.on
L
sat-u I
S
E
sD cg
a nAE
ira etS
ft R
tig eo
o -nCV
sa
iclrD A
tsC S
n
oesya fso
m triN
lsntP a i-sn
orts Cdo um ofn
ico tn ic-atn sd Fo acfo trT scts -ca
vglTiw
ncM noseiraA
ljri 8
D
VE M
IDUcso
.T
cfro
sNtA
m eId m pa R
eu A
rastn reAN
o D
vd
C
Mra n
isg c-ytrsahe O
iRT
seE
ta
hm StF
ro
ilDBES
m
dR E
oA
s-siL
aRV
fn
nIR
ctsg
d
aia ettlaCE
S
e
m tg IsIaP pa
na
kC ifd
g -o
casvtrh sn e
a ng noT
e
uerisn
g ap
u
han
c-rtP
sveog
d
o
risfe
ln
a srea
A ce
sing
e n
der8
C
RAa Ie
VRU
C Ta
sG
N n I
agrn O R oM C R
xka e o
I un
i- l a ae t e g
iwhF o ie r n i
G e r m n .
t 9
oT
m
R en m
sre
ia .tloe PdF
isa-cte
C s-ig
ilu ra
lcp o
iVg rno aP
rse
cdtD s-a
a g rvsoecsie hylsrnCaetg
s-cvrC e
irsn
o ca
-e h
sro
g ticfA
a
T
h
w
n ttrysp
dteicP vota
rsfie
da
crcA
tC
a ft
eia
gsim
-rn
cih
e od
atfre grpa
m io-oa
ta T
ip
A
H
n
o
o
rw
to C
n
h
e
d
=
4
itrch
o
srl n
h
5
tie
s
a
grA
r
-lo
ri
B o
.a T
1imk
ext lE lW Oi.C'onno "rAn o rItdo uon citie E A lrcionom Scxh
"sE
o itin P d
tia reg.er

O
M
ATV
N
A
IB.ANAGEMENT 55
G
le
a P AT 7
0
4R N A LE IA D NV E
G
S RIT IA S N
P
A RD
L E
OS M O N TI C 3e srtd
:i
h ..ev n T
t1
Oo
n
e
sio n
iIe
Adh
tra
lb
c u
jte
sb
T ipd
oydsrlre vtkein nts
o .o
utndesrta
w e dl a
e h
b b
t
e
hcn
oca
u
e
o
o
tdncepts
s
tn
i ce p ts
ofAdn
a
o d
f n s
vieg
svig
at r
eatrnd
n d
ns
Sa
i
g
e a
t td
eP
ns
v
lso
ie
g ot
rm
rb
ev e
j
ci
n
eoisoin
ts
ta
vtict
...3 2 a
Tpon d r ac
d
v s
g
ke id
n m
iv
oe t wre pdg
a
lgn ia
e . bh t
o
e u t A n
ds g
Mi
v et r e
M a
d ,
i e aP
d
a iSt
na
l ts
n e
d
iagr
t y.
4T T d
p
o
pkd
oe
nrd
vkre
rvimo
n
vkie i.w
oeo d
we lg
do
e
lM n
g
dlo
e na eh sS Aa
D g D e
IS A e
Po
,vM
N ep
Ilm iM aton
dMe ,n
eRe
a
nctg
lC dakiie
eru
ostie
m a
cshrD
.dm o n u
ciiPafsnlo
tirTeqchuneiiso
.t
c5
..o
m O
1s
ee u
tnh taa CT
i
p
IIm
o
e
bh a
r i
g
tssle
le nua tddp
a
l
iw
u e s
t
e
o
ani
g
ts
n
tu
o
e
. tnde
b te
o u
Pea
srta
tolrm
a n
o
ad
h
no
bce to n
ue
Te
cte
hq
pits
n
o
ea
fg
n
A d
e
S
gn
nsvg
so
ia
e
g
ee
a
tn rS d
m
h o
o n
w o
aitupiypl
2e n t e
b
h t u t om f
e rtn t
au
eM tl e d
P ai n
l n M g
i , ad
St e
art ay n M
d ad i
c h en d
g i.rli
...4 3e
5
en
entah
ntta aIR
I
eA
Ib n
u
e
e
te
b
b htte
hg
sltdo d i
sslle
. Dv
u
u
etn
steth
da
d
r
sP
e
cte
te
h
rb
m
gT
s7
n
n
m
n
a
in
ts
ytsi
od
o
O
D
mee
thtp
an
Im
e e
tlsg
uigrsn
pa n
ia
e
Mgi
nntdEnoaC
k
g xte
cfie
r sA
to
ocm u
n
id
m ovtefre A
.mnste dimvoe
tcn
u riaia
tep
on
m e
Ttrfd
e rcMhq nu
o i
netee
a
s
i dAl
A 0
4 R
N A LE Igra A zne
S
D iNe
VaP
E
G
SsR
lIoT rIm A SoN
P
A n
C
Ro
D
LiE
OStM aO m N TIp T0
g
an
P L
3
i.
0 C 3o
nn ieiv lT
d O
ae
su
e
o
rU
I
iie
n
N
T
cb
tysa
h jte
u
rIs
T b
R dI lO e n.
D ts
U u
oO A
T
Ct
n
O DN
Td
IVes
ES r
tRE M T
I a En N h
dt
T ec o n c e aop df n
ts
v ig
ea tr
n ds ae l
s
p o r m he
ntie
a
vstict
n si
e
g C
-
ct
a
m gd
no
. v
s
pa n ei c t r
m e a po
n t an
i
d
o
e tnof
s
ei
vbi
f
t
ev mt
jr
e
c i t s-S e E
A-no
d.,
a
Ac
t o
l
i gn e o n
sm
o
e cn
-
a
isla
tc
n n
edir md L e m g
I
u a
o
c
n a
l
en
i
pd
a
st
-o
r l
ev
ti f
es
mtrA
m idvternt8s
A
DVIE eR
Ia U
rMS
o T
tlsdENI
tm
e M I
a-sleya d E
p tein N M
le
-a
d T
srtin gdEe
a AD
ycrhaI
-eco
n tisre
d hciarh e
nrd fqndug ie.lncao ydfsveim tr e cao
n-sd tfsveim tr enst7
O
M
ATV
N
A
IB.ANAGEMENT 65
D
E
G
SIA
NN
IE D
U
MIX T
N E CIitU rO sT OIN A F D tV vE -R S T
-E Id M E -N sT S 0 -r1
A
R VyN
a
d
vto
U IL
Aa
n d
iIEfN
m se
ild
T -lIe
virb lV sm e a a g e
sIG e
p
n
udm ore
ig id
R o
e
u npp lcin
a rm
tV. a oce dfit.afye rvfd tp
sT ne .w
ediie tntarmotd
e fb
a svd em ivetm rnse ta
.n e
yltsdo
n
M -seu -tgstn
ie
aa pip
d
R co e -spae
nu sryla
gistcute
h
SA
V S A
n
-E
L
P
U iS
T
R g
e
N liD
n
O I a
lo M tmF D A E
g sM
rO -e a R
io
h
C
NS
yT
IA
N fT
lItA a C
M nkSd
-re aP
PAtN GsN M
Iu
e sM te dIsio -nC .d gakie rtlomm on ucia
ntiT ech qn uin
e-sieA lrin 0
0A gsidiv1 e
tr
ne S
Itsg-oearfslte
a
dmp p so
lrorm m en o o
R
a
C o o
n
i n
i-ttd
- eq
o e
oru
n
dsam
o
r -isoinrlh
w tu o
dcnet vda
i n
re
oi-a
ige
tifusa n
r ip ssltg io
o
ea r pfm
slorm o e
o n
i o
tc o
a
hn
icta
qn m
neu
i ld
n
tiorea e
i
n
-n
sp
to
e
a
lrvg
ia
m
p
s
lon
ie
o-rlm mo oa
ni
e
r
s t
og oe n
i s n
ts t.1
R
1E F
R EN C E S :C ta T
4
= P
o5o elid
rna ks
...2 3
K
c2
S0
1
G
o
.uH
weh n.m let.K
H e og rE
D.m
e BM a .o
c e
h zcm
S
h
l
,
n
u siedoa B
cn
hP
,K
la
B iAaln
iB tie A
cta
,A rN
c
""Ie
"e
d
n
H
a
h
ia
o rln n
I,it,s"ftcg
d
d , s
e vvik&
i&
g
g
a
lere
w
e
,S
P
ttd
t
lrD
r
2
oe
ar P
m
0ssle
,h Am
0orilo
3
M
dvte
mon
.ro
i ,
t"
n
Eto
c iP
nG
o
,xt"Bscr,m
Sen
ao
rlo,
go
w
i
n
aio
N
a
lHknp
stld
M
,oe
1ie w
r
9 , 9
g
D ie
rt,h
8.eil
...45
6eS a C n iJE
pthe B u l. Smce
nh a h tn
naM M
d
ew m
i"lA S
c n
"
h e
g
P
i
a
rP
n
aa
i
,
k
iAs
g
rTn e
eo
l,
A t7 rl m MdKn do
s g
a i o
n
v ,ino
e g"a t t
da
r
Pn Pn ao r ga
m L
eg o m e
oMn ,n
oi d o
,
t"
e 1
n
CGn
A9 9
t 8
.
a
s r..
hw l
gH a l
e
o
Sh
E
xti
n
i .
td i
C 08u o smton R Mis a
p h
terlianagement 3 Csa:e
tn
G
T
nlea
oo n h
ta
e u te
sn b
o do etn
ilsrm
a cre ts
h o
uvig tn
em desrtam xM ainh u d te CcR
m vue aish
o
m M
w
stiem tfn
egimo
evu a
lefe rlae ne g
ih
d
utn
ro exrpnse tricr.ta
p o n sid
rd it
...v O
1e
i2e
3u
s cb juh T
T so
oe d
nt
nd y
dsshettu rre n
o e
ah cu o
r
vch
ni
e
a
o C
itsdn
rm co
eR
f p p t o vn e n
..5 4 m u
u
hT
T
T o
kso
o In
dteo yew
e
p vcm ao
tilsrm a C n e
td
eC n
R
p oR
ta
o n n M
fien
scne
tM
irsts C E o -.ts RfB oM d
nfu lig
ocsiu u
n iostsol.tm oea rinltrsh pi.
O
M
ATV
N
A
IB.ANAGEMENT 75
..o
m
c2 O1se u
tu u ddS
iSee ttnln sttphss.isshhhoo d
bud o
ke
ua
b ln e
tlbeoo
a lu ew
bth n lteco d nesC crta
e
op fR tohn u iM
cta
ve dco
ista
vrn
m .ponents Bn
dogiclfuiostmer
...5 4ou
3 u
u a
e d
d
n
dre
S
S
See tttn
nn sh hooo d
b
b
d
uu d
ku
o
ko b
e
a
a
elln
n ttblb
ea
o
oole
lwwb
tm
h h h
xo ln
tIe va
tetp eC
a
u iilcerspom lR
m Mep nsC
no e o erR
ife
n isn tMtsC E o
-.R fM osn u
iostl.
C P
U A S
T8
07O R A
ELM ER O NP TIS H M IA N A
G E
M E
N TT 0P L
3 C
0 3
v O
Tesxie
e hc
pb te jsou a cn iM e
b
tascjnE ta d
n e
b
htsle utd no de
oisa
rTu
te n csn e
rh td vie m a
srtnhd atemC xiR vu e
aih
w
stM
m ieg
tnmco
iuafm sle
o n
timfte g
icevtua o
sla
le trm
nhe
d
uo err9
rtn
U
C s
In
e N
T i
tr.
R I E M nM RNC
iTan GO I N
Ckre OC
ER
g
i&
T EMF
tEP
-LIM nE a
hO e
tbo gsrN
lo fTw Ch otfRM E-o B
vuon
i-C
e
tlosn tfR eifM S-choo f9 l
CR TfP
U o
hI
oMo u
s
N Ig
T h t NI CB L D
G UI S ORA R PI
S H I
m
ie
tfLe viP -U
IMu
ao
M ClrrB
Ingike
e
d
cN
u fcT
Iakra
tus-o
S
e C IrAo
N
EsnR
ts tZ
B
d
m
CIo
-
-g
Ium
MiE
Veco
2
u
rose
S Bm
m
tsr.D
C -a R
e
k
Core
e
r
ni-cR
t M
fstM
n i
arm
nA
a-
kg
f ew
i
e
r t M
M -o
kS
n
a
k
ra
ke
g
r
R
e
i
rh
t o
ta
e
r
Ve
s
S
t
rsh
pv Te
-
C.a
ic
o
erfuosm
t a
te
g
M
re t
sr9
na
k gr
-ei t
cU oR
cT C
ae -tcn
e IW
ol-g a
tru ihlo tO etCBbo -nR
a iC te
sN S M d a Cd kruocsM m C C
sca-e
vn a
ire
lltC d um Cne rA
s-tm
eoum
tS o o
vla f
WaVC
Vta cD
U
Ia
ToN
N
M In a
E
P MLetcR ItE etT
N Dn
u -eg
bsM
rd
O nita
N u P
ri-O
lrita
g
o
e
a n
IAlRtM
T sR nhE
pS MeN
O
g
aiW
ce
sn
-fvT
S
O
F riU
.IL d
C lN TIS F
o
R re
ME-vo uanoilftaT geecm ho scnC
u
oa
niC
fr-e
tlR uto M R -eae
ocre fri.9
D
C
erotn n ia g
a
C
ptni e
ul. fo
s m M a
e
C s
t
g
c
-
Me
r y in r t a M nk
P r m
e g
i -
o tr c e p m
sl sBen d -o
se
g
ilu
C n
R
ai e
h to
a
sir t
ua
p i
g d
M
ane
h
l
b
I n
t
MriD
a l p
- e
an
k
c v
r o
e
u n
g
i
- p
o
t
sl g
a
R
i
t o
mn
a
iest
pO
l
heoi n
-
ra irt9
TA L
H 45 T R
O:S
O
M
ATV
N
A
IB.ANAGEMENT 85
...e n
R
1
2c
re
sBfP
J.G"""a
G a
nsku
rg ,e
a rlie
n lS n
St
dC b e g R
,r"u ,tC e
rnh
P p o M
Sp
s.cetliku
fR tla itlM Ce ,ee dL o g
a3 ig
fhdr,o
ete iie
n
d tsE (,i"o si,tT M s2 0 7
.H .,R
...6 3G.
4
5 o
Jh
nS "e M
"
a
u
d N
h
b F an h
.earg
a
a
s
.e
TDeh s
h
mM
n lC
i
h
e d2 a m
,0 " se
,
uH P
7
T
o
"
A
n i s tC h
e
m
t,rya
U
,a
t vR ran
Ro
td
G.
enM
i
a
r
M
s p
e h
t l i ,
nS
T
a2
0
g
M
6n a
h
H g
na e
L
,
e m
a
C
E
n
h rg
2
B x
e
r)0
d
,
ui0
c "
n
eo
o
t
l2
o
t8m
0ks0,P 70
eo
.H
ra ne
itslp hi
..7 M E "b
S
d
tP yd .eu ish k ea C
snh m a h n
u
v a
e d
r t u i g a A s u n
b n d
h
a a
Civ r m C
C h u
a
vu
,eo
,
rt
o" s
m
s
dt
m
t i o R nM
R
o p
i
e sa
h
e
n r e
it
a
M
ri
s
p
el hta
l i n aa gn e
a m g 2
e m e0 ,n8 t.
I
- e
a nA dIitn
8
9N
..0
V. TK "u
a
h ,N "E
te rp vC &
ru
sBoB
ixs,tcfR tte o o lrlo 2M Jkn
0T .si,0 ,M 5
,otisr.m H
2R 0en ,0 7 l.0
1 J""Weya
e
Fmn
rd m rja eE sn
a e
e to d
(,"rn lR
cP)tC
dC
A s T
Iu
n
a
ze
7
u "a
rnR
16 a
tM
cn eRM
d
oP
skianagement C
ria,e
s2
M
p
th
H i,0 I a6n.agem Wi ,en ety,
2
l06
.1 G
laonsiA cro n cu e a rp u 3 e
sirttd
:ei
.v 2 cCcu
o
o
a
n
a
n
a o
r rcm ca
e stn
f
e
btp
uRn
c e
a s
o
t
ncm
d p
ksp
lifge o
iw u
trfmE
sa tfraA
s
.nu
a
o
R
e k
n
ln
s
m
p
fi
r k cte d
a stpg
e
i
w
roe
a
Va
a
d
n
no
m u
a
Id sg
o
kfrsciuf.ta
g n c o
e
rb
o
n
i
su
m
n
nitertca
u sirnetne
e pc,ia
.n
pd
e
o
u
frd
et sni
u
se
a
e
o
su
,r
re
nfcga
o
o
m
ctne
a
u
lin
t etlgsn,so
a in
evn
sa
uaflie
a
s rkg
atn
s
i
rh
e
rcg
n da
..1 O
esiec
btjL e ah n tireb
..4 2
3ud UaS ne hca n
sd
ipg
o o
tul d d
re
r
uafnR
a
e
l
e nIcssa
sm o
d
k
orcu tfiin
a
efp rh on
d te
ra sciu
d n
e usaaer,srcn
g e acn
.tg
e lie
a
u
m rp
oto
fm
yln
c
rrdua
o i
m
e n
se
ctn
t w
p
dba
a en ro
n
a
n
a
e
sig
s i
nrktuca
lPd
h
nron e
r
siu
ce
o
csea rfa
rsa qn
n,e
tplcdm
ru
m
e
i.h e e
o
tR d nst
..o 5 u h
d
m
S t
Se
m
e
t
nni
a tlitsshn ge m .h
i u o e
o nt
d
gau d
r
a ulye nt
un
la
so rlitbn kl f d hi o
. te
e urtnstIe
s ou
a a
fnrE nd o
s
g ciR
e
ne
a
f
p
sM
i
r
t k a sR
i sm kainaa g enm age.em n t ao e
nta
,on
d clo
fostkssrfi
mcO
1se
u
tco uaStndsm
ya se ilsnp hta o ensu di.bla eb o
ed tlneiefd ffe ie rb na rtnchn eisoufa rnca en ,hcdto e
rB sitenteif
O
M
ATV
N
A
IB.ANAGEMENT 95
..2 cu S td irde sn h to d
uu ld
e lbse h cae
idtrhe sfn sysifineo
sta
um n
aflirtnce coa nrctts ao n h
,d ro nw
h stie
u aicrn
rnccp e
oro
td uscts
34o m uta
S e p .e
a n sa h
siksh
tkg
hosiro
tr.ip
e b obse iytin ke ilarn
ca o lritpa o
isn p yan
e'ff
in n te
isd reb srm
e h
e d
..5 ud
u d S
m
S e
e ttn
n ttcn ssh
a
o nm
N
a
o n
ig
d u
b
S a o
IPd
U l
e
A
u
b
ta
e
T
d
R
e
7
1lb
6A
b
lsh
n sic.e
i
td
ec
r N o e
C n E c ciE
M eo
tom
S p
K
hsn
A
rfn
teitp
s
RN
a
esw
IA D
ud
G
iyatiR
e risn
EM
bm
klid
E N
o
T 0P a n au g a e m esoueinlo
tn
.sfrt
v O e s ie cbt j L
0
3 T 3 C
ofcu top Itse
o r e ba vtsoje cnh
iOn
o tse g aua
r np ya
n
z
osp aislo
nn
iter'd
g
s tsaro mtsfm
e nztoa in elsstlosa n
sicb fvtn
e lojten
cid
s pIro
g
th
. sfiro h
if.a rte w tsR
h esutskd Micryoetfn a
corh tn ln aiu
q gem suseednt8
NT
IRnO
IsIo u
ian D
IU
-iDorIN n T
tfT U
N cC ie
sa C I yfEen stm T dRI
N
Va sMkR
-eiK oa n u in
IsruarR g
n e
cN p m
o rid uIcA e-B nT A t-sre ra w
sse hrfn esicru ar.na sce Bpid i-peln ts e
a
i0nfcdost1
N
S
IU R A RU
E
a d
vGcoce N
n
io odam
gctM
lID
Ie
u
O
n a rli-sA Tcg
A
tvhsicC
u h-n
ito
vyrTiw
goC
EsosT
n vu fe
h lm EG
nA
ao
UcP
a
A DLe
n nryoIcsoig
e
O
rcttoN
in
fru
ain srlttu -sIn a :cra ctne
nRcC ce
-n h
Ceoiuo
asa
no
arsIto
sn
ca-ru Ie
nto
csa rfts
u
ra nro n
cve bcP
E ecjR
in -stm r.eg
lig oea u
ni-ftl
S
R
M
K
IAIN IA IhT U
tR yS
sR
ecspN
RT
kaN
-kiho sreE
kse R M
ifIMsto ekvOrfd
o iuE
i
n
e oa
l
tN nfe s a
t
pk
m
r e
igrem Ra Mskn-e iana g tneam gem e np
e
otrn
. ce ta snm dh e U o
td -n sde strn ga ndi9
h U t nVe i N
I
s T
K
i
v
B uoe
y
ki r
-s
t n
ari u
f nblN
A
d
n
s V
E
R
i S
e I m s s
k
i r
C n a sionu ad
f
rn a m
r c
t e
-
u t p a or nl o
s
v a ig
n m e
h s
i
ct ma
o
l
t t
i
v e a rn t
g d e m . n a s
in
u
o a
d
fr n m cF e
i
-ta9
h
lio
tca
srt
E N V eT
UEsoERe
n o
sp
MN
R iSkvrM
u
tfHR
IP
oK
iS tS l"RE
IA a In N aA gG em E EM -Re E n N tM a T rm fe e wR sM kn -oikcreM a naH g e m u.nfed na tme .nlt9
sa
B..OT
XEeO 1
n
R
rG. K
S
ce s f E n R go
.ia
scMrt
n
k
o ,
i
"t a n a g e m a n t
d
Is u a r T , 2 0 ,
0 7
1D r.2 "0
7.Keo rsthw R sM k,a i"ranagem ne Isu n
,artnca enD d vHe vm a
ise ,itraylP asnh u H
g iblouse,
O
M
ATV
N
A
IB.ANAGEMENT 06
.3 2P. M "7 aSkeD r.sira .m ofo rnd oIR
tau
ysn
te
Mi"kcci,&sritl"m a n a g nre c2m ea ntd Isa uaylrn P ce 2 H ,n0ib ,g
0 lI7.ouse,
....45 6
D r. HNPN""2
""0.nD Pd a
Ro
.S
ie
a ra
Rale
p
Msl.km p
a
le i,C
n e
v"In
P
m
e ra
s.pa
p T
G u
o iln
csa .airf,hrnatPn
yig
a
a u
,p
ce te
n
M la dP
P
nIP
n ca
sa a
Irse
ru
o
a icu
e
b,a
n n"ra
tfa rd
isIn lu
ta g cn Wi
e
T
e cemeno ,H
h,d e
nim
eE
ted
,iy,
o
e yln
a ,2
rxB ncs0 d
tve0
P
o le
a
8P
oc.Pa
2re
k0
su
ics2
h
,t,H
0 0
H
7,0 I8.
...8 7
9JM D r. "
""ohNN P
nR .
.s.M aIg r
.i.nnm
rsIo hsia u
,ra ,"Trnna hcsnv Ie eup h
a P
ci& tn
rsrlny
o pccSp,
ei"
c
a
nDr
re
eiC i ls
a
cia
cyt,.trS n
iC h.h d pa,ana
ncrn e
ic
s
2d ot
u
d0& far
,0C21 n0.o S
c
n0,. 0
i ,
uip r u c
o ab
i
2 n tl ,.06.
P A TC 7 Mo 2 r3
C su atrlu n lagement C 3
G
T
e
v rle
a
o
o
h
a
e
p tp
ie
u
a
nrsth
cb tljdre
o m imnts pn ue nd nte so tra n iota n ndw d ave o
fpar.iu ltsrsco rsscu itau rslesisu,ee asrlto d etxpa aetes
irrtd
n :d
ti
••O sie c T
fH
T a
kn
o
o za h
ei
Rtr e la M ri
un ew
cd h
Cg r
tileglae e c i vre n
g rte c rn e
sih
krcu e
csta o ryn
n ree iB
sd i
tnor
rse a
wfi
nH
fia
t a
zre
n sa
iB
rdlR
tsn o fumM
n srR d
ff
aeim i
e
o , e
,d r m
c.i-nentsla t o ned t
i
n
r
os
e a n
i
f
ltal
n
H ••giRectfM aT
fT
p a
ofrnitd
e mo
a
z
fr h
e
i
u wr t e l
ce
l
ai
e
h ld
n r ceaw wn
hr
n ,t
o
h e
e
d mi
so
c
e
o r e sa
as
e
c
,u u
n
h
t
te n
h
er
g
i t
lo
iltn
e
re
o
a
g
n
fsto
r e a
o
c
i r
su
o
g
z
n
lsto
t ,
H
l
e
s
ar
n
i
u
in
cft
eu '
an
r
m
lc
n d
isa
e
n o
tn
ve
aniuc
ro
o
t eu
ar
t,g
eu
r
.
l
n
fe ra
d a
yfntn g
n
izco
aen
i
ig
sal
t
eae fo
rfd no rrfm
itcdne uo cm h
ee ite tlksia pn re h
otsn a e srfioucn tn
lisg rftx,isn nctian ge in ra ointcaog lm ltp cie ran soan itoea
,instal
c••O
o
m s
e
g
tneu
u
oie
T ton d
rho e
p
aticn
e a isu
tlla b nrn
o
a pe
u
o lea o rca
rn
u
e d
na
lrta
siwg
e u s,rta e
are
siah
o n
ce otdn a
d
p e
scn
m eo
rp
u
tts
irnlte xo
sin p.a fop
me
a rftrira ectn
a
srocimn
em d npa gem e,nt
•ffneaT T n h
hede e
l a n
s
a rt
n
r n s b
e s h
n
dr ba e hr f
l
g
i sm
h
a ul
c
p
l
f i
r
t m
ae
u o
r
w
li b c
l ht
is
f
rotc
se a
le s
sn
i u u c e
n e c e
ip
t
s i
s
nt o
n
r Ht af
a
s
u fH
t
zt
l R
o i nl
ptR
H
o or
e ff s M
o
n
s
R
ea o
gmn
iisa b
l
tva
e
, cia l
no rl
av hd
n
it
n em n
a e g
n eig o
d
nfrt
kH
g n
ictRM o w e ld anh g e
ow
a
dte b h n lteodm k r c
leffvy. sa r , u e i a
lo e f if
clts
n r
a a sg l
s in m ne t
-n
ro s t,eufe rd
yfnti c e s
O
M
ATV
N
A
IB.ANAGEMENT 16
••unelufT n.ch
ice le oea
ln
lcro
rg
d
seh
rrh
e
ro
ala
rzn
vn
o
elta
ip p
lo
ecnmflrodm a np ern
ca hd
fxlco,p
e
rm
nvse uicn
roa ich
ttod
g
ite a
srta
log
nozn dan
u g
o
ice
erasfln
tu u
cshe
tu
rn
dio
leu
co
ta ise
,n
tu
ra
,'l
•eferdmT
T ftru
g
eh
ie
na
n
hse
coea
ln
ia
ee
o
n
n
sie
m
d
rw o se
h
a
m la
uvn
ope
lu
p
le
iavrcte kan ee
sg iso
r.tin
a
u oreh
,id
tn
o u
ga
tse rnotlsa
fitsn
em
aitn
rcrh
eg
itn an a
n m
a g fte
p
sra
frtnda
nb so
hn
a
eolcan
ioblta
e ll
nraogdh
uea m C
e a
Pn
R
ce
A
q
n
tie
o
ra
T3
O
2
7C
u
dne ltxa
i,b o spaelsn
S iruU S re
LT
u
,o asn te
co d
L
A
Rsn
U u
oictle
Ms.o
psxa
e
p
AN
o
ie
A
a
m
G E
M E
N TP
n e
O v e s
ib L
30C T3
0
T a onfza mh
deitc
r:etjsultd ipo e h
n
H g
hn
z
i
ato
r
ets
s
t
nu o
mh
vwn
eua
otid
H
rfnsa
iecoa tsgVa n u
fln m a u n
R le s
w e
h seoi u
grcu
rea cMsn
rzosa csna
tw hlern sa
ta inpgd e
vom
tnm
cia e
slnatl
N T
IERan
IU
c
r
w u
N
o
t
i
T g
a
Nrml
ATa eIfne r
i
laOd
s
t
v as
.
Nc i
A
a
o
l
s
t
L i
I u e
nT
He
M
i
R
c
s
h
.
M
o
e
a
r
O
i eu
t
l
D
s x
E
S
r
L
i p a s e a i t
r e
tn o
ud t en
r pd
a e ait a rt n h d
cv
o
ta
e
r i r
m so iu a
pu
re so a u trntcsonriau
2
stn
d
ne PA
IT
n
otryN a p
o a p
sed o r
'La
ho te c
p
H
a
no
iPh u
tf-oo
e
sat
d
Cso
rvey
a df
M
lrno m T o -dhp v Ba
e i
lsT r
emt w o
p
ae y
s.nlm
trd C
Bourm c
e -
p yon
i nt l
soin v e g er
o e
In
troda
Hn h
c
aue
t
cp
a
ifetlR0 u
rpo
l -y rM a c -1
h
NITE R
g
nIU
m a si IH
n
ipN
T tA et nIlZ
R
e
u AT
Iso
a IIle
tsn rn M
fK
o
t
-a
i rin oO
tBa
i
b
n
tlOm
IN
uH
Sta sFn
Rl
e In
ieo
tre
n csasiR
n
tiff T
o
n
frsE-ta
A
aS V
,iu
g
le
PC
InSyD
c rIy-o
tifface
e l
n irlh
rg
c
i n
eI
t cn
e
r a
o sffin
ea
t
M g
icH ta
l R n aM cga-eu s
-r sn
e AIo
n
tp
ary&
d fsan 1
iitab
t li
CR IOIC SUS M IC eSc
N
Te
rn -n
g
U a
i
IaLT n g Ein
R U w
e d l
g W e o
k e
s r. 8
TV UO R I N
TAo g
N rm I G n
zoa im
n ctutM
e
N
ArB
&
lu
oA
TA
N DcNn
-Ia
e
iN
C th
u
No
Te
&
-Ea
tIro in
u
O
G R vItcrlu iaC
te
N gr-lAT
ao rn
zP a
iO scu
osN
amt-e
flrA
T lIh
L a
CO e
n
M e
o
cCP
Ee
N
SiA
s-r.o OrN sC s-u I te
T rB lun siess8
PE o
C
e
nF
V
R T
rita
UIT
O tn
o a
lN E
rog
m
R iIfMrxa p
e
AM ?tie
arC
No t-C
n nsia
otm
E naA S g
P Lp
R?
N e
A o N
T
I-sER nrIO R o
esae
NFn
iD
e
fm
trAT
afnlicO neC
uo Nin
sA
PLe ora
ia
I m
tMcA
kN a
G gR
E p
e.eno s?a n
iF-ta uno
ce
lIstfrncg i7
oE sn uiostlx.a ep
P tia ro
e tm fr ance Managem R n
e-n
o
tire
a n
Lit-pa tirlbotPoa
n
eiru-otslrebm lTA LH T asO
R 4nS
5 d
O
M
ATV
N
A
IB.ANAGEMENT 26
B
O .OE
T
1X KSD
...e
n
R
1
2 c
re
sfr. a"M
SS P"
NnS
.S
lje
u
.
iang
bh b
a
aa
R
h
j
u
gn
n
e a
pm
e
e
I
no
to r Ita
taE
r"B
n n
a
B
i
B
i,o
a
" t
D
a
a
no
tx2u
,A
d
u
cn
ell0 n
,or.
sns
lH
e0kitsM
ei
7,s.,P
M s ",u
s
ousuS
Ha2m
m
B
02
c
a m,0
n
l
.h
0
ta
8,
l
aito
0 .Ita
7
i
en
.
H ch rtIiaytu la
r,m "aR nesou ce r
...53
4D W. eC
r.s. "
"""e R h
l a rC a
..e L
hn
H l
.
a dl"nn i
n d
ea In otrn aB ie ,"ta u ru lmn
n K
rsMe iJscao P ,inosusnh n
riib
gHa
J
e n
fltar o ,oi
"a
lnsu n Bt as2
se l
u
s0,,ens0a i
e 7 s5oh
.ns
e t
i
n , d
t , i T M 2 0 6
it.H,,
..8 6P.
7
G
y.
o
In
2K
netd
tV.
rA
n E ie
n
0
o
a
rA
b .iyistF
t,d
d
0
M
a
n
H
7
aiw l
RE
a
a
ra
k
M.
r
o
hr,ta
M o eRoT
p
4 e
h
nB
Itrn
i p i,h
a
n
t G
d a o tu ,nC
l"e
i u sh D
eTu
in
, ay
t
dsa
h
tu
r l
g ,lie
a lR O
e
.H2e 0g
T
In
G
o
t,0
o
ag
e
a
o
r
y
n
B
i7
&l u .e
, n
F
u
r. a tG r K
s
n
e iP
ScoR
i.
Nr u h ,p a,
e" uaw
sro
nl d
2 gi
Eduo
a
y
0 s n
o
k0 ,rCd
7 . a
c5h
n
a
n
s e isH
..0
9 ""20v6
.iin rJ.P h atiD P lS
ae B ca
kE.,n b .sh iagna Rd trtIia og e r.K Ja .R aneon
sItarh M
niksl,ato"u lcM a
rclkinw aagne m eh n,M tT,,nt
1P oeR "re D
ctdh,iin aoaT dgw
rn
M hdom e We
sn
he
tS a PiIe
iU o
Pn 2
orrn
A di0
P Tau
5 n
,
M
0
7
b
"0tla
L
,7oe
n
H .lactu
M C NA H
lh
n ,m
N
l"a
Y
A I g
G e
E M
n m E N
e
T o3e Bd
en
ri
a, tde P su2
l
en
h aib0l
g g
, l
0 e5 m . 4 te
G
lh a C3 e
sr d
t
: i
..a
T
e
w
v
O
1reto
sd
o
se
g
ie
o yo
a
c
b
rd
n
vite
a
tjn
h
u
pu ln
ttid o
u
h o d
ftnn
e
hd tiscrea
n otsmfm and npta ig
a koe n fvydu
srscfa
e isro cu h fp
a m sh p
ych la n p
kmreio
g t,rdfmranu a cn
vnisfe
ug
a
vih
th
rrw
cnea d o
n
crS e a
ritd
h n
-o lte
rsunh ips
n it
gyp
..42
3n se o
n
g
a riF
lhte
T
C
TT
fTc
a
ie
cd
o
o
z
on
tsoha
ie
u
e
mu
d
rSm
e
ln
h
c
Mcha
o etivn
oao
i u
cyinr&
d
p
etS ssaB
o e
p
e
P
ng f
lo n
su
u g
S
ti fseu
p
iS p
cu C
o
ryp
ehs p r
l
u
e
i
ln
p S
h
p
sn
slg Cye
iSt
na
piuslC
N i
pypn
ew
a
lh
a rein
t
a
tg eid
o
p&iso
a k r
vse
dn
ia
cd
isun
on
c id
su eh
s t
ita
stvte
e
e
vo
osaa lu
tu
i
fips
ar ise
n
f
s l
c
o f
in
t
s n
u
r vn ipg
e
o
c ll
d
i
o
lm lntfug ipvnyp
phh Iln Nae izh e tw teoe krd
.5p P T oa rdvn eian oa evd vrwiao n
hsoeM nytie rcn ru e n trn da tsn
n
S
p eo
girea fla
vu m
g pieypm
C la hn na
Mod eiftrncsn a
taugie
sa
o
m
n rtp n
a ictdgsoa ceio
hsu
ln
d
tm
e rhsa
nivp
tse
orcap u
lh
iyfrelp
ntsan .e
ito sf
O
M
ATV
N
A
IB.ANAGEMENT 36
o
mc•O se u
tT
••oylocM b
Tw hclth
kn
m
h ne
tasd ecitu
e ciie
a u nam
m
o sckie
aa n
nu
gfS
hre
g
S
stn
io
b
fp
d lb
ahnaStu eto
iutm
e
u
d
ip
vstp
n
csocn
ura
e
ytip
p
td
hu la
ttrCn
lsm
n cse
yise
po
a
titip
n
srcstn
lpnh vie
sn
a
iu
o dh
vofscn id
e p
lw
tsie
E sib
d ehp yca chsoian
ltvo
e
a ua n
rio ra
fS im
lsg itc,n
Ce
ekn
M g
p
esvih
cillo tM
,d
g tyS
,hn
eio
dsrelvfu
e M
eo
a p
ae
cgS
rC
lisu ypsB
n iuero g
lh
ia rktr;dnA
n
ualid ga ifn sm ridli
T
F o ta ih
na t
& lec C u m p a
b y l chw
a f
s
otec
a r
i b
n at i
l ae r c m c e hp em
to e tsi fS p u
f op
a C y
t p
r
f
u
n co e
t si
fr Na i
nc w
i t u p wh
p
y alt e
ar
••nC T
In
a ve cwhuin h
e
m
oP
M nycita o
rh m
a
ierfb
tse o
rua e
nln de tn
e
sp
a rcg a en ead m n p h
D d pta srh te ae km
e n n
hto
ra
e fS
d
ce
d ytsto sreu a
m N pn
oye
ttrrsalfd
p
h d
frn cw
lte
g e
iSa g tisO km
,tu Aopcm yzia p
i-p
h an
g te
lg
pa ormg
ieo P
ead
sn
ifars,b
teln lagine dcff
ve
ra ssn icd it
TcahE a
n h
n
(sfa
wmhdie-tru e lmiB
ru w
a ikfp u
r)tp
.se ychlsfT
b ho lie Ifp
rd itva
n e
-itd e
ckxp ao gseue sa rh S e
n
o u iw p C ypa le
n In
htb
ro rn feuinstB e2
sB ldsP uca pe icpytl
S UP A PT
5 0
7LM C N AH N YA IG E M E N TT 0 P L
30C3
v
a O
T
e
rSe
d
w
hs
sotT
g iec
e b
avyite
o jpu
a ln dou
h do
ftn h e sn
i
c
etro s f and
m npig ko a en fvyd s e iusrou c fha pm s pych la npkm ire ofm
g t,ranaun fu gi
actre a
n d ano eahritd
n
-clte ro
sh iu
ps it.8
N
T
IRO D
IU C U
Nu C
I
O
p
osC ymT
tp I
Nllh cpn
F a
h e
S
n Dvairu o-e sia
unfrsC pd
y-p e lTh m P n a m
o IrfM
ie e-sp nao tlon D rStca e -o e slnP ice un re h
ucgS
isSta
tB
rldo Psiu e o-p
ro
siscype C lhsvw ih S nDavM
Ou
e
iB -kp
sci-d ro icu pa vsle nvw
n
u
ia
ra u n
fgcet-rf
d S
po r u
c e p C
s ypns e u h
i s M a
c
y ph nl o
i d as e y p l
s du e o c p sy
hf n
p a s
l ni ed x d g
Si m y s tm &p n g
b -
lc
s
a ku f
a
r c y
e p t n l
a
g ta
ce
wi a ,t c
n ,
a o l
t n
p o
ei s n
r
i toal9
STR
nIsSU
IM oe
-AT Isu
o
N
T
n
in
a
n
g
irg
c
ucna
e
iS
Iu
rd
in
a S p
C
O
sdcO
CyE
u
h
e U
G ln
r
M
NaR
m IsGsuCi-o
McsR
.Itu
S .Knirec
- Q
ur
g i
-
enM p y r
tipT P uy p l iae
ou
c h s
f
lr
n a g s i
St g e m Car
e t -
n
eg r S
g
a
w s
i na
. -
t d
csulo u p
E
er pi
r y p v bl a
u oW l
a
S i
n
s e
-t, e
o dW lc
i
n
o a t r nd d
ei
SU IP
Ib
oUD P N
I LY
T I N E
C N
T
W H A I O 0 1
uu
L
M
inn
rssN
o .g
ticD in
o a
de
ew
ltne
todC
srcn ib o
e
toD
CD kuia srnr-.p tL ye
ie maotgR
IsL
n cen it-ao rF pe
o
u
tco a ,n
lu iMfcno e
lyatIsfrn incog
tN ieO
wdS tseo lD
.u pkn irp Va
tsC e
yp -glsN n-ihue n
a w
N litA o
eD
w ko rtdM
in to
e -g
dksm rn dip io
esztnciad oF
syfte tra illci
O
M
ATV
N
A
IB.ANAGEMENT 46
PVL A U
OIce
N
tT rN vIa G
eDI-vlw riE D oM lrfD N
e A
m V IN E N D asTO ,o
n RY e dfo h
ria
cn tp S
iUA PcNL D Y 0 1
P
S
sC
Va
u
d
p
e
iS
a
h M
cny-pa fIb
yh tvu
lin
a e pa
csiiyh
a n
pno
ib aln tdme
Byi-ifrw
a e
lu
g
n
ep
ig
tlfm
a
h crinftcn
u ep
m ie
ysn
a Ou
g
ilsp
h
to ta
efa
cym
n php
sS
A
yun
l-a
e
e
ig
tvr-u
slevpoag
ce
n n
yo
hpre
vfU
rd
lineatgy-rniC
o
m
a
e
upn th
n
ln
try-atca
tvo
e
tsiau
glib
orp
tn id rcM
n
a
yp
nh
oa ith
g yn
nl-eia
tse iS
m u an
e m p -ucp
aycn
he
g
-io eh
tlu
n
g
iya
pltnl-i8
C
UR RVUEFeE
TaN
B T
- R I Tu nE s F
eN
i as D
r
- m S e w o a k rn d
R S e
o u
fl p C yp l ne h b -niau n i s ei s a n db 2 bp
S
c ae ri
-c su t p C yp T l n
I
h i
ne Itnm
ra
-M n-rtanm
d
ngseau
m
na
.p be e
n
gld
tcyp
eo
hswm
n lru sfn
aIn
o e
S
u p o
In
-siip
S
t-a
rke
ycatsypmhnlulta pd
n cyipEse h:lo
u o va m
te
mp-limP a-e
sa
o un
na
ic-rktp eS n
ptcg
yhe
lu
cnie sp
nytio
a
m
C
p
g si-C
aln
rE
o .t-h
ncS
m a
sae
uri-seu
L
m
rn S R
m-p
tlC
islu
ype MEliT S
o
pecfn
u h
p
In
-Ca
lsg
yT
p Rn
irC
o
e
in-tcuia
lR
ie
nttrhtP
Mlsrp il
ai.
n
B O
..O E1T XKS
Wi D J .o e l sn e Sren P p o s
c l
iuf r, pc yhp m
n a
l i a n a g e m C e n
,e t n g a g L
e e TAan2 L
rg
0 iH ,0 4 O57 = . S
R
E
1 F
N
CE
SC S h u lo n
....3 2 o S n P
keM
itJa P
t,e
d e
cih u
oacp ,uishrnro .aP cdMzSn
sE
g lkie
n
e aS ru
ttp
d n
dC,p eydu
up
io
ilC
M
h
rT
p lya
cn d
p iI.rh it,M
lh nR
n iaa2in0 a
en
a,0g
pntieram
4 .em
g S
e-C nte,n a
erttg gPya
a crg
n lL n
e e g
a
S ina ngre id
O ,a c2 o n po
,d
e n
a
ir,t
5eR
4 oAS
B
S e R o
um lrrh
a
V,
la
ealcp F,
o inylS
n HdB
d
R
aMIdR
u
l2
n
2
iu
,0
0e
C
se yn,p
i0
n
0
,o
p
ca
th
n
sLtd
4
p
2h
in og
te M
n
.rS
isSd agtliiu up a
pC
C n
pla
yyp lhC
h Mg
n n
a ae i,iem n ag na a eC gn
-e
g to
e
L m en an SP a
e
g iee n
p,,nC d
tcatso rn
o En 2 d
R snP 0e
0
a
dId
c,e
0sH
u0rin
e
o n
2c5
p
nttli..,a
ia rtl
Glro
a
o P A TE
B 7 0 -
6
n u e si C3 e
s r d
t
: i
T pio rd th
vje a
itoa csrrp u -tg h gso irn u nn e
dB g-iaunsae igsM an a gem nen ta
ih
e
g vatine
rm tun ofaa n icetrals
..hv
ot1
O
2O
u
es e g
c
cb
o tT
T p
no
o d
p
e
e vta
o
B
o
cn
o
g
iib
u
r -do
n
p
ve
vcn
r
fiu
u
e
ln
vitw
d
t ire so oiu
e
se B
e ni
c
s-m
t m- u
nseisSt a k re ets
agtry,
a
em
ns dc e
u i Bs
a-b e
uenop
n
s.-u
e
r icttu
se M r m op eod a
r nsce
a euntrlu
essacd
Ifrtn qerm u
dm ioedsn ets l
MATV NA
IB.ANAGEMENT 56
..3 h rT tmeotib
n iue frch sp ro tiru rva nu cnse o iyca tyfh cu tia
n d tia
lb
d
rsuno ilcge tlb -vu nslm e
isda se n d ee m nsftp iesh an zsei
.m 4
5e on T
p
T
dpd o
o.re rd d
alvvn
o ie
e
treiea o
e
tdte
d
vfo
n uo
cu
a ovcierta
n eseb -p
B-io
ru
w pn Estriean se sStn
sp
serraiIso
rfe u
ccp
o uin
e nip
ltad
va
steb
la
n enid e
d o
sb-cp iu
unsshe
itsned
cisto iw
slo
ga irta
n
n cob e f-rw
e u
op e b a
sse cvrde
n iis
.ocO1s u
toSt T h n ci u m b e u n t d e a
s r t n dh tse v o a ui re
s ml e e n o
sB - t f u ns e
i s a
s h w
a
n
fsltm
e ridili
..3 2u e
o v
svia
rT
ia
Tn a
uq reh
c hr
su
o m
n a
e
m
ce
irictu
u
geM
m
a
em p
ih
srn ,sa
to qe tn
b
rm
ho
u
csd uibtto
e a
o istnde
ln , ta
e
cd
nsoa
k
b u
el-et
u
ffBn
e uca
-d
r
p f to
e
n-
siu
r tc
ine
Muse
- e
irm ssa nkh rd
tch
w
e
m
e
sT
n
va
t to
io
a an
irlin
o
urd
am
ts a
n
ticlhka
we d e Sa o
-
e rf
C
o e n arIa
lg
n tcfu
/sfra
Mw
m
d ih
ticu
t
r e rifri
l
.4e h
b T
m
w - n
ut
a
e
sh ni s
d
e
ib rcio lu
b-d u
mnn
e zsrgilb iea n a
srw
b a fcse
hum rytrin
isfe tcunsitle
e d rtdm ie
d ea sw
lrtn ash
dh a
na
te
se
drvC
oa e u
irQ
hvsato
eCyltu
dp
m
n elam io
an
tie h
ldh
ton
sC
e
oeia
tdniieg
a
rsn
ir;e
o aitE
g
te
ru
sqae
silrd
n
ftse
oua
bste
ssd
e pe
iluociue
tuaro iactp a
n
ip
eo
tsdl
.5a sw T
ih n h ce
aTi u teo m
rlw
Ifp sa e
nto u rig n
tb -B td unU e a s r tn ie he d sE t
ec
s
o k o
uiSn
c dltSo il
eve w h -o
olpmn.t wd oe fvoe np l ge b - n i
o n i s ln d
P A N
-T S 7 0 IE
6 L
3 0T P
0 C
3
v
uBO
Te
fo
ns
p o din
ie
a c
vb
crsN
usetta ja
ird le tsrn ts ghw a
toaro u
ie g fh l-g ourn u isn ne d Bsg -iunsa e in sM am nagen .m tqn en th
a
gie va
tie
mrnt n ai8
U
e n-Ie
St u T
ia Ich a o u h e ca
p rsn iB
o
tp
e
c-db ie sie lrssIu m -a lg e
m
ipa E
-m
oP
reM
U n
If-eN I
o n
re
I
h b
M
T
t-
e
s
Co
crb ie
g
n te
I
-cfrlR
-aF
tgu
ho
ikre
ayn
d
n
se
l-sutie
M
Md
o e
slgsB -ie o usu n
n ssle ie -mSt
sn
a -frtcu ee tB ar-ntg e o
tsur-yslcn
sehien asg
lse
M D B -se uon gBsC
sd-eiin
s-u se nlrsa eru
ipsm aita
yP cilnA eu
2
e
ncn
trh ts
-i1
ig
a
eM
fpo
c
-U su
te
rcp a k r e ts n
o T ec
ni M
tc-s h n o e g
naPs
-
l
i
u kyorte lv
s c Ts
t
u o
e ram n
i M t
d a i l e eanf oc
s
k
M
f
p-
r
ts t
ef
u c -t
r
h an se
k
pgr
oiMe -
sc
D et s
- e a v k
o re s
pl u
t
ttMi8
m c c e s
n s ts
ISo h
-Nrcn
Ieu -eg
T sIim
Icya u
tn irdR
M
e-nC
o
to-d
ye
ftra b-ieb
sm
uln
elponents
isiesQ R ys-taie yub
clto a in
-A
ld sieo
o
eP un
i-o
a
crtcuerm
rin tQ s-ye urtq
oS
a iu
n
-su
io sn
le
C
rime6ns-t6
OM ATV NA
IB.ANAGEMENT
a
n
V rusfUR ctsT
iIu e
tN M
kiIanagemT
rp eu-brn,su tnse isksB i-rsunse isnze srg
ieas-ye
cltu ciu rerB -unse i0 ss1
A
M portp
e
h a
o
n cd
Isve hM o e
R tn
co(aisd
-rMet-diw
-vlM re)vta
d
-e rdfisiwrlEMgfa -erde srtn zRra n g-a e
iw m rP
e
o torO cERe(d sE u
Pce
e
losR
a
rm ila
Cr-tg)e sm)ip e
oet-s
e
n
iVU e gtlb g
o
iTNau
a rcIn
n e
tsy.sinea rin Ite St
g ts
a in
o tM a sIm
rg
e o
iw a o O
o nestn
p ire id
M
a e igplcd
op id
natllcsynyM a
d e(setbm
-u ns-sieM n n tp-Ifn
re tp o
orp
ctrna
in y-ta
e
tsolm
nlg
edoisfr7
a e
csthb-
n uaa
d ns e
i
rp
cd
sore s
i-R S
s
sticvr-so eo u
o
ilevrw Pn
i t
l-
s
e or
itad Ctc
oca -
pfciTs
o re
p L
bol
Ih n
tlca
e
u
itw c
e eso p
r-hsnolgysta f ft
t w a ea r
Stn d
w-ckandae bs c
e
w v ri- s d RerH bsB c
e v r
q
n
u is
-T
du
e-
islT pyes-
...2 e n
R
1 c
re
s f Ner C ap i n
e , rga
wi n t n i g
eib - un s e i2 Cs/ , e n g a g e
L e an2 rg0
i ,0 7 4 5
taR o
S
3 r. D
P.C
M chS aPp R
e .kb l.o
ilm t,ase yiu sa e
d:c0
z2 -o
ou m
g,d u
& m irce c-sa
re nB e
sd -u n
sH sme
1
,iE
s/,iL,IE
ayu lP
a csH
n h
u g
itn
b Io la u i,sse20,06 0.7.
...5 420
6,0
K
K
H
lre
C 6lch
z
n
a
aa
b
e
.-e
iC u
a
-u
,
n
n
s e i
Re
s a
aslKh
n
o
&B .a
D
d
e c a-o jlNe
m
P
Mm
aebntrijE
R
A
aisb
.C
g
m
u-b
a
o .:e
fp B e oeP
B
r,m
e
usn
z
1ct
re
e
,i1
e
/
i
.
W
2,
a s/,m
a0
ro
n
r0
,
n h
t
5 ntd
C
e
. E ro
cgie 2Y
tu
,d n
0
a
iB
tg,0 e6
o u
nf2d s-ei0 -ta M TaGca
w r-
...8 7
9a S
JE
iPod
sM e n
sr
lea E oe i
c ntAl
r
p ,i
e
. o hc -mo
w, m a m Ed m
e : C
o
l
ce
7
r c /
t
ne
r
c
C ee
,
P
ic
2 er n /
e
o g
2
c
,r n
e ma
0iH
Ia
d
,g
-
t0 iL
e6 lae m 2
n
a
.
l 0gri0
, e 7 c
m.
o
r e l
f
m l e
o
i3
s P
v u
e
f o i
n /
t
, letrcH
n e
I id
a t
-
&a
il l
so rE n2 do 0
un 0
ci,6t.

O
M
ATV
N
A
IB.ANAGEMENT 76

S-ar putea să vă placă și