Sunteți pe pagina 1din 13

Ê  

 


Ê  

  

 !  !
"#$%&'( 


Y 
Privind in urma, putem spune ca sectorul privat s-a dezvoltat si a ridicat nivelul economiei
nationale foarte mult.Sectorul privat a reprezentat o prioritate in toata aceasta perioada de tranzitie, prin
cele doua modalitati de dezvoltare ale sale: transformarea întreprinderilor de stat în firme private si
înfiinţarea de noi firme. S-a observat totodata o dominatie a activitatii intreprinderilor mici si mijlocii in
comert si servicii, detinand o pozitie mai slaba in industrie si transporturi. Aceasta s-a intamplat deoarece
a crescut puternic sectorul tertiar si s-a permis lansarea in afaceri cu un capital de pornire relativ mic.
 Toate acestea au dus la o crestere a competitivitatii, la necesitatea unei mai bune informari,
previzionari, coordonari si la existenta unor stranse relatii la nivelul IMM-urilor. Managerul IMM-ului
trebuie sa cunoasca foarte bine in primul rand functiile managementului
(previziunea,organizarea,coordonarea si controlul) cat si strategiile de dezvoltare. Planificarea strategică
reprezintă un element determinant în supravieţuirea unei mici afaceri. Practicarea unei afaceri fără un
plan strategic este fără sens, cu atât mai mult cu cât firmele mici au un avantaj natural asupra celor mari:
cicluri de producţie mai scurte, o arie geografică specifică drept piaţă, o bază bine definită de clienţi.
In 2009 in Romania, din cauza situatiei economice globale, s-a impus schimbarea strategiilor de
dezvoltare adoptate pana in prezent, o abordare diferita fata de 2008. Anumite IMM-uri cu obiect diferit de
activitate si-au exprimat clar parerile in legatura cu schimbarea tacticii pe 2009, cu o mai mare
concentrare pe imbunatatirea relatiilor cu clientii, cu axarea masiv pe investitii si restructurare, cu
diversificarea domeniului de activitate.
In urma mai multor sondaje de opinie realizate la nivelul managerial al imm-ului, s-a demonstrat
ca in continuare in 2009 si dupa aceea, in 2010 se va merge pe strategii de dezvoltare, pe planuri
startegice chiar daca acestea s-au schimbat fata de ultimul an: se restrang cheltuielile, se diversifica
domeniul de activitate, se merge pe imbunatatirea relatiilor cu clientii si nu numai, se evita distrugerea
unei piete formata in ultimii zece ani. Toate acestea pentru a supravietui si pentru a trece cat mai usor
peste aceasta perioada de criza economica.

Y 
Looking back, we can tell that the private sector has developed and raised very much the level of
national economy. The private sector represented a priority in all this period of transition, by its two
modalities of development: the transformation of state enterprises in private enterprises and setting up new
enterprises.
It was also observed a domination of the activity of SME in commerce and services, and less in
industry and transport. It all happened due to the fact that the third sector grew stronger and launching
into business with a start capital relatively low was permitted.
All these things led to an increase of competition, a necessity of a better information, prediction,
coordination and strong relationship between the SME. The manager of SME must know first of all, very
good, the functions of the management( the prediction, the organization, the coordination and control) and
also the strategies of development. The strategic planning represents an essential element in the survival of
a small enterprise. Practicing a business without a strategic plan has no sense, further more when small
enterprises have a natural advantage over the big ones: shorter production cycles, a specific geographic
area as target, a well defined base of clients.
In Romania, in 2009, due to the global economical situation, it was imposed the changing of the
strategies of developement adopted until now, a different approach versus 2008. Some SME with different
object of activity expressed clearly their oppinion regarding changing the startegy for 2009, with a bigger
concentration on improving the relationship with the clients, with their focus on investitions and
restructure, and diversifying the field of activity.

c c
Based on numerous polls made on the managerial level of the SME, was demonstrated that in
2009 and after , in 2010 the trend will be going towards the development stategies, strategic plans, even if
they have changed versus last year: expences are being reduced, the field of activity will diversify, the
relationship with the clients will be improved and not only, the damaging of a market formed in the last ten
years will be avoided. All these are made for surviving and for overcoming as much as easier possible this
period of economic crises.

c
 c c c c cccccc
c c c c ccccccc
c
 c ! c c "c
c
  c
c c#c$ccc c  cccccc $c cc
c %c c c  c c  c %c c c   c c c  c c  c c
c c c  c c c c c c c c  c c c c c c
 c&c c cc""'cccc(c$c cc cc c$cc
$ccc
%c cccc%ccc cc cc c) cc
 c$ccccc(c$cccccc ccc
%c
c c c &c  c 
%c $c c c c c c c $c c c
%c c $c c  c c  c c c   c $c c c (c c c
c c c c c (c c c 
%c c c (c $c c c
c c c  c c c c c c c $c c % c c c  c
 (c c c c c 
%c c c c   c c c c c c 
%c c c
c%ccc c cc c ccc ccccc
c
c  c
c
 ) *+ ,-! 

Yc  c c c  c c  c c c c c %c c
c c  c c c c c c c c  c  c
( c  c c  c c c c  (c c c c  c  c c c c
 (c*ccccc ccc%ccccc ccc
 cc ccccccccc
%c
&cc cc c(cccc%cc ccccc
c c c  c  c  c c  c 
 $
 c c c  c c
 c ccc c
cc%c(ccc ccc
 ccccc
cc$c%cc*cccc c cc cc cc cc
 cY c c((ccccccccccc(c+ c c
((ccccc ccccccc ccc
c c c c  c c c c  c c c *c c c
cc cc cccc c cc%(cc c ccc
c c (c c c c  c c  c c c %c + c c  c
(cc%cccc(cc c c,$c c
 c % c c c c c c % c c c c c c
%c c c (c c %c  c c (c c  c
 c c c %c c c c c  c c c %c c c 
 c c c (c % c
c c c c  c c c  c  c c c  c c c c c c
c c c (c c c (c c %c (c (c c
*ccccc cc cc
c c c $c c c c   c c c c  c c  c c
ccccc c c(c cc  cccccc
c  c c c c(c c  c cc c  c c c cc
c c c c c  c *c $c %c c c c c  c

c c
c  c c  c c c c c  c c c (c c %c c c c
c Y c $c c  c c  c  c  c c c $c c c c
 c cc cccc c
.ccc ccc cc cc c c$c%c
c c c (c c  c c c   c  c c  c c c c c
 cccc(c c
/c0c(c ccc(ccc1cc#2c3cc
 1c 1c c (4c c  c c 41c 5c  c *c c c c c   c $c c
c cc14cc( c
¢c c3ccc3cc6c
¢c 34cccc
)(c c 3c #2cc(c c
c 0c   c 0c c  1c 4c c 1c
%(1c c  c  c c c c (c c c c c
(c 0c  c 3c c c c c c c  c c 1c 0c
%c  1c c c c c  c c  14c c c c c *%c   1c 0c
 (1c cc  c04 1c0c(cc
/c 0c c3c#2cc%c3c1c 4 c
c %c    1c 71c c   c 4(1c 3c c (c (c
c cc
%cc!c%cc%2(c  cc81 c c(%c
c4c 1cc c %1c
c Y cc9,$
:c3 2c0c3c(c ccc cc 1c cc 1cc
c 4c 3c c  c  (2c 14c c c 3c  c  c
 14c 0c  cc%(1cc cc41ccc1ccc
c c
-c Y cc4cc c c3c#2cccccc c1cc c cc
 c  c c  c  4c c c c 
%c c c 4c %1c %c
%1 c3cccc cc c 4c41c c cc c
 (1c4c c1c 1cc1c cc c%ccc
c 14c  c c c 4c 4c c 1c ((c c c  c c 4c
 c
;c c4c0ccc c c4cc c
<c 8 4c1c0cc
%c3c c1cc 4cc c0ccc
 c%cc c ccc4cc0c*c
=c #c c3 cccc cc 2ccc c
c
 .  *-+
c
ccccccc5c c c  c *1c c c 4c c 3(1c Yc  c
 c c !.>?>#c 0c 3(1c c c c cc c c c  c
c0ccc%4c2c c41cc 1c
c0cc 14c(1c
0c  c c  )1c 9Y c c 8:c 3(1c c c 1c c ((1c
(1c 0c 30c 1c  c c  c c  c c 5(1c c 1c c $

1c3 2c (c cc12c(cccccc cc  c
7c3(1c(1c3cc2cc(cc ccc cc 14c3c
(4c c c  c c c  1c c c 0c  4c 3c *c 4c
 0c 1c 3c 3(1c c c c 0c * c c 3c c 5(1c
(1c 0c  c c  c c $0c 3c % c c Y c c c *c c
c4cc14c 1c5(1cccc ccccc
 1c c c 0c 14c c  c 5(1c c c 1c c  4c c 3c
%ccc cc0c  c%14ccccc4cc cc  1cc
4c c 0c (c c 3c /c c c (c  c (c 3(1c
c c c c c c (4c c c c  c c c 3c 
%1c 0c
4c1c3$c11ccccc 1c7cc c3c7Yccc0cc<""cc
3(1c0c<""ccccc 1c3(1c1cc41cccc c
c c #(c c 1c 1c 3(1c 1c c 41c c c c 0c
%c c c  c c 4c  c 4c 3(1c c 1%c 4c c 4c 0c

c -c
1c c c c 5c c c 0c c  c 3(1c c 4c c  c
c cc  c5cc0c3(1c*1cccc4c0cc c
cccc 14cc cc101c0cccccc 4c3c cc
c cc4c cc cc1cc1cc3%1 c
¢c cc%c1c (@c
¢c c 1c1c4c(4cc c4@c
¢c cc1c((c c 4cc%ccc41@c
¢c ccc1@c
5(1ccc cc3%1c0c c
¢c 7c*1c@c
¢c cc1c12 c 1c@c
¢c )c ccc@c
¢c cc1c 20c cc@c
¢c c 1cc cc%1@c
 c3(1cc1c*%c%c0c 04cc41c c0c
4c c
 c 1cc 1c3(1cccc c
c ccc4c
c /cc 4c34c3 c
-c c3c c c0c4c2(1cc1c c%c(cc%c
;c  4ccc
<c ! (c 1c3c 4cc41c
=c #4c2c c(c
Ac c cc(1c c
'c  4c 4c0c  cc41c
Bc  4cc
"c / ccc2(1c
c
c0c  cc cc ccc3(1cc3c cc
 4cc c(c(c c cc 0c 1ccc
*41c1c c (c1cccc cc cc
cc c1c 1cBcc "c cc1ccc c
*1cccc3%1cc c%c1c0cc1c c3(1 c
c Y4cc41c(1cc 4@c
c 4cc  1c C@c
-c /4c1c1c4c%14@c
;c 4cc%c(@c
<c /4c1c14c4ccc cc0c%@c
=c /ccccc1@c
Ac /4c1c1c4cc4c
%1@c
'c /4c(ccc @c
c
. ccc c c cc (c31c) (c%c1cc%((cc c
c c c 321c 0c %14c  c 3(1c c c c c  c c c c
 (c4(1c4cc c
)c  4c  1c /#D E 7>Yc c c c 1c c c 3c c c  c
c(c0cc  (cc ccc3cc c(c3cc4c
cc3c(2cc cc4c c0c(ccc
/ c%cc 1c%c1$0c ((c4c  1cc c3c* c
 4c c (c  c c c c %c c 4c c c 3c
(ccc,ccccc(c2(1cc 4c
c  c c  4c Fc 4c c  1c 0c c Fc 0c 3c c %c c c  c c
 c c((1c  4c(1ccc3c
.#?Y> EY#Yc c $c c  4c c  1c 3c c  c c c
c cc c0ccc(c3c 4cc 41cc% c*c

c ;c
c
5c (1c c  c  4c c  c 3c c 1 c %c
 14c  c 3c c 0c % c 3c c  1c c  14c 3c
%%c  (c 3c  c c %4c 0c  c c c 6c c
%14c c  c c c c  14c Yc (c  1c (c
 14cc%(1c(c 14c*c(c 14cc%c
Y 1c 4ccc..#).>Y#Yc 1c3c%c 4cc c cc
101cc(ccc0c  cc%4c1cc1cc
 14c cc3c% c3c
7c 4ccc$c.>&#.!7!c$cc 1c3c1c4c3c
3c  c %4c c  c c % c %c c c 0c c
3c c%c0cc1c  cc c21cccc c
%c 0c c 3c % c + 4c c c * 1c c  1c c 1c
 c c 1c c 1c 3c 3c 0c c 4c c % c
 c  c 0c 3c 4c %c c  1c (1c 3c  4c c  c c
%c c
c
 /+*-!! 
 ) 0-++ 

c c c  c c c c  c c  c  c c c c c
 c c cYc(ccc cc c  c
 c c c c  c c c c  c (c c  c c
(c c /c *c c  c c  c c c c
c  c %c c  c *(c c c c c c c c
 ccc cc ccc c  cc(cccc c
cc
c c c (c c  c  c c c c c c c c c c
c cc cc$ccc(cccc cc%c
/c c
cc cc c%cccccccc
c ccccccccccccccccc c
 ccc c ccccc cc %cccc
 c  c c c c ccc c c c c cc
ccc (ccccccc
 c ccc cccccc cc c

ccccccccccccccccccc
) c ccc
. c cc (c
 c ccccc

ccccccccc@c

cccccccccccccccccccccccccc)Ycccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccc>7c
ccc
c cc c
c c(c

cccccccccccc c c c c c  (c c  c c %c c c c c
c ccccccccccc cc cc
ccc ccc(c

c <c
 ) Ê+-!1*1!**
 
c
c $c GCc c c $c (c c c c c c
ccc% cc c ccc cc cc(c c
 c c c c c c c c 
%c %c ""Bc c c ""'c c  c c
 cc c c cccc (c cc cc  cc(c$c
cc%c cc c9 c$c
%cccc@:c9c$cc $
cc
%cccc cc%cc @:cc9c c% ccc @:cc$
c  cccc cc%c
YCcccccc""Bc  cccc% c cc
c c$ccc (ccc
%cccccccc%cc
 c 
 c c  c  c c c c  c  c Gc c (c c c
c  cCccc9c cc :ccc c (ccc
ccc ccccc ccc c.cc (c  cc c
c*ccccc c cc ccc$ccc
 cY ccc
% ccc c(c$ccc cccc
ccc
c
ccccccccccc c*c
8CcYccc  (cccc%cc c cccc
c c  c c c (c % c c c c c c c c 
(c c c
ccccc c%c cc ccccccc
Cc/c c ccccc cc c cccc  c
c c c c c c c c Gc c c Cc c  c c  c &c c
%ccc cccc cccc%c c (c
ccccc c%cc(cccc
)Cc c (c c  c c c  c c %c c (c c
 c c  c )$c c  c c c c c c c c  c  c c
cc cc c cccc% ccccc
c c c c c c (c c  c c c c c c c c c %(c
c cccc (cc ccccccc&%ccc
c
cccccc cc (cc
Cc c Yc ""Bc c c c c c c c c c
c (c
cccc ccc
cc c cc ccc cc
cc c
cc ccccc cc(ccc cccc
c cc(cc c7c $c(cc c cc cccc
ccc cDccccccccc cc cccc
cccccccc
%ccccccc(cc c
ccc ccccc,ccG cc c Cc
+Cc c 7c $c c c  c c c c c c ,c c c c
c c c  c c c c (c )c c c c c
(cccc" "cYc""Bcc(c cccc c%cccc cc%c
c c c  c$c c c c ccccccccc
)c %c ""'c c c ""B@c c c c c ) c ""'c c c ""Ac c c c
c cc c c c c c c (cc  c   c c c A"$'"Hcc
 cc""Bcc c cc c cccccc cccc""A6c
 c  c  c c c c %c c   c  c c c c c c ""=c c c c
""Ac)c cc%cccccc cc""'c
ccccc
cc(cccccc ccYc c cc c cc cc
cccc c cc""'c#c c(c*cccccccc
cc cccccc ccccc c) cc""'ccc
cccc%c  c%cc c cccc(cc
ccccccc ccc(c cccc

c =c
 (c
c
c cc cccccccc cccccc c c%c$c
 c c *c c c c c
%(c c c c%c  c c
 c c c c * c 
c c /c  c c c c c c c
 c%cc ccI cc cG c(c Ccc c
 c ccc%cc%c c c cccccccc ccc
c c c c  c c   c /c  c %c c c c c c
c c ccc c$c%ccc ccccc (c
c ccccccccc cGc $c
c $c c c  c c c c c c c (c c c c c c c c c
%c cc ccc (Cc c(ccccc $c(c
ccccc cc
cc ccc ccc $cc
ccccc c c%cc cccc((ccccc" "c
c
c
8%c
c
Yc c+c 
c BB-c$c!JcKc
Y%c > B'Ac cJc/cc
Yc c cL BB;c#c c!cc
8% c BBBcc cccc  c8 cc
8% cc?c& BBB ccccc  c8 cc
,c
c BB'c/ c ccc cc&c8 c
!c 8c B'Bc c c c c c c   c c c c
  c8 c
!c?c>  c c BBBcccc cc  c8 cccc
!c> ""=cM?c
1c0ccc(c$1c0c (c  :cYc
8 cc
c )c ""c  c # c  c c   c c c @c c
  c8 c
#c c  c )c c Y"" c c c  c c  c c cccc
c8 c
D% c """c Ncc  c8 c
c
c
c
c
c
c
c
c
c
c
c
c
c
c
c
c
c
c
c

c Ac

2ÊÊ  
0  Ê  Ê 3 


 Ê  

c
c
c
c
Y 
Looking back, we can tell that the private sector has developed and raised very much the level of
national economy. The private sector represented a priority in all this period of transition, by its two
modalities of development: the transformation of state enterprises in private enterprises and setting up new
enterprises.
It was also observed a domination of the activity of SME in commerce and services, and less in
industry and transport. It all happened due to the fact that the third sector grew stronger and launching
into business with a start capital relatively low was permitted.
All these things led to an increase of competition, a necessity of a better information, prediction,
coordination and strong relationship between the SME. The manager of SME must know first of all, very
good, the functions of the management( the prediction, the organization, the coordination and control) and
also the strategies of development. The strategic planning represents an essential element in the survival of
a small enterprise. Practicing a business without a strategic plan has no sense, further more when small
enterprises have a natural advantage over the big ones: shorter production cycles, a specific geographic
area as target, a well defined base of clients.
In Romania, in 2009, due to the global economical situation, it was imposed the changing of the
strategies of developement adopted until now, a different approach versus 2008. Some SME with different
object of activity expressed clearly their oppinion regarding changing the startegy for 2009, with a bigger
concentration on improving the relationship with the clients, with their focus on investitions and
restructure, and diversifying the field of activity.
Based on numerous polls made on the managerial level of the SME, was demonstrated that in
2009 and after , in 2010 the trend will be going towards the development stategies, strategic plans, even if
they have changed versus last year: expences are being reduced, the field of activity will diversify, the
relationship with the clients will be improved and not only, the damaging of a market formed in the last ten
years will be avoided. All these are made for surviving and for overcoming as much as easier possible this
period of economic crises.

c c c c ccccccc


c
 c ! c c "c
c
c
  c
c
c
c #c
ccc  c
cc
c
cc cc
c cc?c

cc,c%c cc,c%c  cc
c  cccc
cc c
 cc
c%cccc
ccc
cccccccLc
 c""'cccc
ccc cc
c cc cc
ccc c
cc
c
ccc
c ccc ccc ccccccc

c%cccccccc
c cccc
cc
cc
,c
Oc
c
cc
c
cccc
cc
c%c c%c

cc
cc  c cccc ccc

cc
cc
cc
cc

c
ccccc

cccc  cc
ccc
c
c c
cc% cc c&
c  cc
cc
c%ccc  c
ccccc
c
cc

c
ccc%ccc
c
c
c%c
cccc
c
c
c

c 'c
 )  (+*1Ê ,%'1!* 

&
c cccccccc

c%cc,cc


c c  c c %c 
c c c c c (c
 c
ccccc ccc  ccccc c
c* ccc
 c c c c %c c c
c  c c c %c c c %c c
cc% ccc
ccLc c c c c c c c c %c % c 
c
c c c
c  c  c c 
 c c 
 c  c c  c c c
cc
cc
c%cc(cc ccc cc
ccc 
cccc*cc%cc c
cc ccc
ccccc&
c cccc
c
cccc
c
c
c
c
c+ c

c  c
c cc%cc c cc cc c
c%
c
c%ccKcc c
cc
ccc *c cc
c c c c c  c c %c c c %c 
c ,c

c
cc cc
c cc cc%c&
c cc
c 
c c c c ,c c c c c  c c ,c  c c 
c
% cc
ccc  c%c
cc% cc
cJcc
c
c,cc
ccc
c c,cc
cccc
c
cc
,c c 
c c c c c c 
c %c 
c c 
Kc c c 
c 
c
% c 8c 
c  c c c c 
c  c c 
c  c c c c Kc c
cc(c
ccc ccc%c cc c 
cc
c ccc
c
ccccc cc  c
cc
ccccccccc

c c  c c 
c c c &
c c c 
c   c c c c %c 
c
%c c c c c c c 
c c c c  c 
c c %c c
ccccccc*cc
&
c c c c c c 
c  c c c c c c c  c c
 c
cc,cccccc&
c
c% c
cc c
ccccccc
cc%c
ccc cccc
Yc  c c  c c c c c c % c c  c  c c
%c c c   c c c 
c  c %c  c c  c %c
cccc c
c c cc
/cccc c
c%ccccc#c

c
cc
ccc,c c c
c *c
c%ccc  cc
cc
cccc
 c
cPc
ccccccc 6c
cPc%
ccc c
c c c c #c c 
c ,c c   c 
c c c c 
c ,c  c
 c %c 
c c  c  c c c  c c c c c  c c
c c c c c 
c  c c c c  c %c %c c c c c
 c
c
cc  c*%cc c
c  c
ccc cc
+c c
cc#c
cc c
cc cc
c    c %c &
c c   c c  c c c c c 
c
c c   c 
c *
c c %c 
c c c c
c %c  c %,c
%cccc
c cc
cY cc,$
c
cccc cc c
c
c% ccc cc
cc%c c
ccc%c%cc,cc% c  cc
,c ccc%ccc c
-cY cc cc c

cc#cccccKc ccc c
cc


c ,c c  c c *
c c c #.>c c %c %c c %,c c c
%ccc c&
c cc c ccc
ccc (cc
c
,c %c 
cc  c%c c c 
c %
c c c  c c
c ccc,ccc
cc c
c c,cc
;c ccccc 
cc cc cc

c Bc
<c# c%  ccc% c%c
cc cc
ccc cc
cc%c cc$ c ccccc*c,cc
=c&*c cc c ccc c

 . Ê 4(!*+cc
c
c 
c  c c 
c c c c c 
c c &
c 
c c
 c c!.>?>#cc
ccccc
cc%cccc
c c c %c c c %c Kc c c  c c c c c
%c 8c c 9Y c c 8:c 
c c c c c 
c (c  c c
c
c,ccc%cc&
ccccc$%c cc c
c ccccc
c c
cc
cYccccc ccc
cc cc cc cc
c  c
cc
ccccc*cc c*ccc
ccc
c c c * c c
c ,c &
c c c c c c %c c c
c c 8c c c *c c
c c c c 
c Jc c &
c c c
c c c c c  c
c c c c c c c c &
c
cccc
cc cc%c cLcK ,ccc c
c%c
cc ccc,c

c
ccc c%cc ccccc&c

c 
c c 
c c
c 
c c c  c 
c  c 
c 
c  c c
ccc
ccccccccccYcccc
c7cccc
c<""ccc<""ccc
c
cc
cc
c

cc cc

cc&
ccc
cc
c
c
cc
ccccc,c%cc
 c  c c c c
c  c c c 
c c c


c c c #c  c c 
c c cc c c c 
c  c
c8cccccc%cc ccccc
ccc

c%c
c  cc cc
ccc cc
c cc
&
c cc
c
c c
c
c
c,ccccc
cK cc
PcO
c cc ccc @cc
PcO
c cc
cccc(c
c
c,@cc
PcLc c c(c
c cc
c
c%cc%cc @cc
PcO
cc
cc@c
c
&
cc
c
cccKcc
c cc
PcO
c
cc@cc
PcLc c cc
c@cc
PcO
c cc c@cc
PcLc c cc cc
@cc
PcO
c cc
c%@cc
c
Jc  c c 
c *%c ,c c ,c %c 
c ,c c
c
ccc
 c
c%c
ccc
c c  cc
cccc
c,cc
cY cccccc
-cccccccc cc%cccc
cccccccc;c cc c
cccccccc<c c c%cc
c,cc
cccccccc=ccc
ccc
cccccccccAc  c cccc cc
ccccccccc'c cc cc cc,cc
cccccccccBc cccc
cccccccc "c/ccc
c
c c c c c c  c Kc c 
c c c c 
c
Jc c   c  c (c c c c c ,c 
c  ,c c

c "c
c* cc
cc cc%, ccc cccc c
c

c Bc c c "c  c
c %c %,c c c Kc c &
c c c %c c
Kc

ccc
c,c
 cc
c)cc
ccc cc
@cc
cYcccc@cc
-ccc,c%@c
;cYcccc(@cc
<ccccK ,ccc
cc* c%@cc
=cccc%ccc@cc
Accccc
c@cc
'cccccc @c
c
Yc
ccc c
cccc c&
c c
c%c
%c c c c c 
c c c %c % c 
c c c c %c c
c,cc 
c
 c c %c c Yc 
c  c c 
c c +.#Y&c c 
c c
c c 
c c 
c  c  c c c  c (c c 
c c c
c c 
c c c c 
c c c c c c 
c&
c c
c c 

c c  c c c c  c
c c c * c c  c  c  c
c 
c c c %c c c c c 
c c c c ,c c c
%c 
c
c c  c c  c c c  c $c%cc c$c
cc
c%cccc c
c(c
ccc ccc

c cc
.#?Y> EY& .>c 
c  c  c c 
c c c 
c  c %c 

c c
 cc cccccc
c  cc
cc% cc
&
c
ccc
c cc
c cc c
c cc c
cc
c
ccc% cc cc c%%c (cc
ccc,ccc c
ccc%ccccc
c  c Oc
c 
c  c (c 
c % c  c (c 
c (c c
 c c
c(cc c cc
&
c cc
cc..#) >Y& .>c ccc c

c
c,cc

(ccc  ccc


c%cccc
c,cc

c
c% cc
c c!c cc
cc$c.>&#.!$c ccc

c c cc%Jc c c
c
c
c% cc%c
ccc
c c c c ,c  c c c  c c  c c 
c
ccc
c
cc
c% c&
c c c* c%c
cc
c
c  c c c c 

c c c  c c c  c 
c c
% c c c c c c  c c (c c 
c  c c  c 
c
cc
c
  (+1(+1!*!'1Ê 
 ) 
!!%1+ 


c c c c ,c  c cc c c c c cc c c
ccc
cccccc c cKc
cc
cccccc
c c ccc
c cY cc

c* cc ccccc
ccccc
c
cc*(c
c
 cccc
c,cccc cc
c *ccc
 c c 

c c c c 
c c &
c c %c c c Kc
 ccccc
cc%cc%cccccccc
,c
c cc
c,cccc%c
8cc
c
cccccccc
ccc
c
ccccccc%cccYcccc cc
cc
ccc
c
cc cc%ccccc
c cccc

c$ ccc
c
c%c

c
ccccc (cc

c c
c cKc  ccc
c c%cc%cccc
c
c

ccccccccccccccccccccccccccc cc
c
ccc
c (cc
-c cc ccc
c
cccccccccccccccccccccccccccccccc cc
ccc
ccccc@c

ccccccccccccccccccccccccccQccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccc>.ccccccccccccccccccccccccccccccccccccc
#cc
ccc c
cccc(c
c
cccccccccccc 7c
c cc

ccc c
c%c cccc
c
c %c c c %c c $ c c c c c  c c 

c c
ccc cc(cc
c
 .  !* + ( (! 5 $  (  6  5 $  (
15'(7'1Ê 

&
c c c  c GCc 
c c (c c c c c
cc
c c
ccc cc
c
c#c cc cccc
c  c c
c
c
c c""Bc c ""'c c c
c  c c c  c 
cc
cc c
cc cc
c%cc  c>cKc
c %c,c
c c
9Lc
cc
c
cc
cc@cRRcLcc
c ccc
cK ,c
ccc


c
cc%c@cRcRO
c c
c%cc*@Rccc
c%ccc,c
c
YCc c c c
c c c ""Bc 
c   c c c c c c
c c 
c c
c 
c c  c K ,c c ,c
c c c c c c %c

 c c ,c %c  c c c #c %c c Gcc c c c c
c  c,Cc&
ccRKc
c Rccc
cc,ccc
c  c %c c c c c c  c c c Y
c   c  c cc
 cc
c c

c ccccccc
 cc&
cc
cc

ccccc
cc cc(c
cccc
cc
cc
cc
cc%c
c cc*ccc cc
8Cc .
c c c c 
c  c c c 
c 
c c c c
 ccc c&
cccc
cc
cccc%cc
cc

c&c%ccc
cc%c,c c
ccccc
Cc+c
c
c
cc
cc cccccccc
c  c
&
ccc%c%ccccG%cccCcc cYcc c
c

cccc
ccc c cc%cc
c
cc c cc
c
 cc%cc
cc%cc
c
cc
cc cc
)Cc c c ccc
ccc
cc%cccc
cc
+c c c c c c c c c c  c 
c  c c  c c  c %c c
c
c,ccc
c% cOc%cc ccc,ccc

c c

cc%ccc cc cc%cccc
c

c (cc


c c %c  c c c c Lc c %c c 
c  c c c c c c c c
c%cc (cc
Cc &
c ""Bc c c c c %c c c c c 
c * c *c Yc
cc%ccc cKcc%c
ccc cccc c
cc
c ccccc
c ,cc
c cc%c
ccccc
cc cc%cc
cccc
cccc cOc%cc
c
c c

c
ccc
ccc c cc c
cccc cc
Kc c % c %c 
c c c c c c c c c  c c c


cccc,cG
cc Ccc
+Cc c  c c
c  c c c c ,c c 
c c c 
c
cc cccccYcccccccc
" "c&
c c ""Bc c cc c c c 

c c c cc %c c c c c 
c c c 
c
  c
c$cc%c
c
cc
cc
ccc*cc)c
c
cc""Bc
cc""'@c&
ccc c c c""'cccc""Accc
c
c
ccccc
cc  c
c*cA"$'"Hcccc""Bccc
 ccc cc*c
c
c
ccc
c
cccc""Acc
ccc%c
%ccccc%ccc c
c%c
ccc""=cc
c""Ac&
c
,c c c  c ""'c *c c c c  c c %c c c
cc ccYcc
c cc
c c cc
c

c
cc
cc
""'c#
c
c*cccc ccc%c
c c 

cc

c c
c
cc
cc%cc cc""'c
c cccc%c
c
% c c 
c   c %c 
c c 
cKc c
cc c c c c c
c cc cc cccc

c
Oc %c 
c 
c c c %c c c  c c 

c c c  c c 

c c
 c c c *c c c c c 
c c 
c %c c c c
 c c c * c c 
c c c7cc c c %c c c c c 
c
%c c 
c c Ic  c c 
c c G c c  Cc %c c 
c c c
%c Sc%c
cc
c
c c
cc*ccccc
ccccc
  c (c 7c 
c c c c c c c c Yc c c c 
c 

c c c
c
c%cc,cc cc
ccc%cc
ccc
 c G
c c c  c
c c ,c c  c c c c
c c c c
c c c c c 
c c c  c 
c c 
c c c Ccc c c 
c
cc cccccccccc c ccc
cccc
 cccc
c,ccccc
cccc ccc cc" "c
c
c

c -c

S-ar putea să vă placă și