'LH/LHEH /LHEHU/HVHU 'LHVHU7H[WKLHUKDQGHOWYRQ*RWWGHUVHOEVWDOV3HUVRQGLH/LHEHLVW*RWWVHOEVWHUNOlUWLQ VHLQHP:RUWZDV/LHEHLVW6HLQH/LHEHKDWQLFKWVPLWHLQHUKXPDQLVWLVFKHQOLEHUDOHQ JQRVWLVFKHQ/LHEHRGHUlKQOLFKHP]XWXQ*RWWHV/LHEHEHUWULIIWXQVHUH9RUVWHOOXQJVNUDIWEHL ZHLWHP6HLQH/LHEH]XHUJUQGHQEULQJWXQVVHKUVFKQHOODQXQVHUH*UHQ]HQ6RLVWHVDXFK XQP|JOLFK*RWWE]ZVHLQH/LHEHDOOHLQPLWGHP9HUVWDQG]XHUIDVVHQ8P*RWWXQGVHLQH /LHEHDXFKQXUDQVDW]ZHLVH]X YHUVWHKHQEHGDUIHVVHLQHU6HOEVWRIIHQEDUXQJDQXQVHU+HU] 'DPLWZLUGXQVHLQH5HDOLWlWHU|IIQHWGLHDOOHPHQVFKOLFKH:HLVKHLWZLH]%:LVVHQVFKDIW NOHLQIHKOHUKDIWPLFNULJXQGPDQFKPDOYLHOOHLFKWVRJDUOlFKHUOLFKHUVFKHLQHQOlW 'HU$OOPlFKWLJHJDEXQVGHQ$XIWUDJ]XOLHEHQ2GHUDQGHUVJHVDJW >0N@GXVROOVWGHQ+HUUQGHLQHQ*RWWOLHEHQPLWGHLQHPJDQ]HQ+HU]HQXQGPLW GHLQHUJDQ]HQ6HHOHXQGPLWGHLQHPJDQ]HQ*HPWHXQGPLWDOOHUGHLQHU.UDIW >0N@8QGGDVDQGHUHLVWLKP JOHLFK©'XVROOVWGHLQHQ1lFKVWHQOLHEHQZLHGLFK VHOEVWª >0W@,FKDEHUVDJHHXFK/LHEHWHXUH)HLQGHVHJQHWGLHHXFKIOXFKHQWXWZRKOGHQHQ GLHHXFKKDVVHQXQGELWWHWIUGLHVRHXFKEHOHLGLJHQXQGYHUIROJHQ *RWWJLEWXQVQLFKWHLQHQ$XIWUDJXQGOlWXQVGDQQGDPLWDOOHLQH(U]HLJWXQGOHKUWHVXQV GXUFKVHLQHLJHQHV9RUELOGLQ-HVXVGHP0HVVLDV'DXQVHUHLJHQHV3RWHQWLDODQ/LHEHYLHO]X JHULQJZlUHXPGLHVHQ$XIWUDJDXV]XIKUHQVWHOOWHUXQVLQVHLQHU*QDGHVHLQHLJHQHV 3RWHQWLDO]XU9HUIJXQJLQGHPHUVHOEVWGXUFKVHLQHQ+HLOLJHQ*HLVWLQXQVZRKQHQZLOO'DV 3UREOHPLVWQXUGDDXIXQVHUHP7KURQJHPHLQWLVWXQVHU+HU]VFKRQHLQDQGHUHU*RWW3ODW] JHQRPPHQKDW0HLVWRGHUHLJHQWOLFKLPPHUVLQGZLUGDVVHOEVWZHQQHVDXFKKLHUXQGGD QRFKDQGHUH1HEHQJ|WWHULQXQVHUHQ+HU]HQJLEW+LHULVWXQVHUHEHZXWH(QWVFKHLGXQJ JHIUDJWGLHVHQ7KURQ]XUlXPHQXQG*RWWGLH+HUUVFKDIWEHUXQVHU/HEHQDQ]XELHWHQ-H PHKUZLUXQVVHOEVWXQGXQVHUHHLJHQHQ$QVWUHQJXQJHQ]XUFNQHKPHQGHVWRPHKUNDQQHU VHOEVWVHLQH/LHEHGXUFKXQVIOLHHQODVVHQ >*DO@8QGQLFKWPHKUOHEHLFKVRQGHUQ&KULVWXVOHEWLQPLU -HVXVVHOEVWVDJW>/N@:LOOMHPDQGPLUQDFKNRPPHQVRYHUOHXJQHHUVLFKVHOEVWXQG QHKPHVHLQ.UHX]DXIVLFKWlJOLFKXQGIROJHPLUQDFK 'HUJURH8QWHUVFKLHGYRP$OWHQ]XP1HXHQ%XQGLVWGHUGDZLUQLFKWPHKUDXVHLJHQHU .UDIWVHLQH*HERWHKDOWHQPVVHQVRQGHUQGDHVQXQVHLQH.UDIWLVWGLHLP6FKZDFKHQ PlFKWLJLVW'XUFKGLHVH.UDIWZHUGHQZLUIlKLJVHLQH*HERWH]XKDOWHQRKQHGDPLW EHUIRUGHUW]XZHUGHQ 'HVKDOENDQQ-HVXVVDJHQ>0W@GHQQPHLQ-RFKLVWVDQIWXQGPHLQH/DVWLVWOHLFKW 'DV-RFKGHVDOWHQ%XQGHVZDUGHP0HQVFKHQ]XVFKZHU'RFKLQGLHVHP6LQQKDWXQV-HVXV YRQGHU/DVWGHV*HVHW]HVEHIUHLW'LHVH)UHLKHLWZLUGRIWIDOVFKYHUVWDQGHQ:HUGLHVH )UHLKHLWPLEUDXFKWNHQQWGLH/LHEHXQGVRPLW*RWWQLFKW >*DO@'HQQLKUPHLQH%UGHUVHLG]XU)UHLKHLWEHUXIHQQXUPDFKHWGLH)UHLKHLWQLFKW]X HLQHP9RUZDQGIUGDV)OHLVFKVRQGHUQGXUFKGLH/LHEHGLHQHWHLQDQGHU >3HWU@DOV)UHLHXQGQLFKWDOVKlWWHWLKUGLH)UHLKHLW]XP'HFNPDQWHOGHU%RVKHLW VRQGHUQDOV.QHFKWH*RWWHV 'HQIROJHQGHQ7H[WKDEHLFKLQYLHU3XQNWHJHJOLHGHUW'HUHUVWH3XQNWEHWULIIWZDV*RWWIU XQVJHWDQKDW'LH9RUDXVVHW]XQJGLHHUXQV]XU(UIOOXQJVHLQHU*HERWHDQELHWHW'LH QlFKVWHQGUHLDXIHLQDQGHUDXIEDXHQGHQ3XQNWHEHWUHIIHQGHQ$XIWUDJGHQ-HVXVXQVJDE *RWWKDWXQV]XHUVWJHOLHEW >-R@'DULQLVWGLH/LHEH*RWWHV]XXQVJHRIIHQEDUWZRUGHQGD*RWWVHLQHQHLQJHERUHQHQ 6RKQLQGLH:HOWJHVDQGWKDWGDPLWZLUGXUFKLKQOHEHQP|FKWHQ >-R@'DULQEHVWHKWGLH/LHEHQLFKWGDZLU*RWWJHOLHEWKDEHQVRQGHUQGD(UXQV JHOLHEWXQGVHLQHQ6RKQJHVDQGWKDWDOV6KQRSIHUIUXQVUH6QGHQ >5|P@*RWWDEHUEHZHLVWVHLQH/LHEHJHJHQXQVGDPLWGD&KULVWXVIUXQVJHVWRUEHQLVW DOVZLUQRFK6QGHUZDUHQ (VJLEWNHLQHQJOlXELJHQ&KULVWHQGHUVLFKGDPLWUKPHQNDQQHLQ*HOLHEWHU*RWWHV]XVHLQ *RWWOLHEWDOOH0HQVFKHQ-HGHQHLQ]HOQHQKDWHUDXVVHLQHU/LHEHKHUDXVHUVFKDIIHQ'DJLEWHV NHLQHQ8QWHUVFKLHG:LUPVVHQXQVMHGRFKEHZXWVHLQGDZLUDXI*UXQGXQVHUHUVQGLJHQ 1DWXUXQVHUH,QWLPLWlWPLW*RWWDOV0HQVFKKHLWYHUORUHQKDEHQ2KQHMHJOLFKHQ9HUGLHQVW EHZLHV*RWWVHLQH/LHEHLQGHPHU0HQVFK ZXUGHXQGVHLQ/HEHQIUXQVJDE'LH *HUHFKWLJNHLWIRUGHUW:LHGHUJXWPDFKXQJ-HVXVGHUVHOEVWLQDOOHPYHUVXFKWZXUGHDEHUDOV HLQ]LJHU0HQVFKRKQH6QGHZDUQDKPXQVHUH6QGHQDXIVLFKXQGEH]DKOWHGHQ3UHLVGDIU PLWVHLQHP/HEHQDP.UHX]YRQ*ROJDWKD >-RK@*U|HUH/LHEHKDWQLHPDQGDOVGLHGDHUVHLQ/HEHQOlWIUVHLQH)UHXQGH 'DVLVWHLQ*HVFKHQN(LQXQYHUGLHQWHV$QJHERW1LHPDQGNDQQVLFKGLHVHV(UO|VXQJVZHUN HUDUEHLWHQ$XV*QDGHLVWGHU1DFKIROJHU-HVXHUUHWWHW$OOHLQDXV*QDGHZXUGHXQVGLH 0|JOLFKNHLWJHJHEHQDXVIUHLHU(QWVFKHLGXQJ.LQGHU*RWWHV]XZHUGHQ >-RK@$OOHQGHQHQDEHUGLHLKQDXIQDKPHQJDEHU9ROOPDFKW*RWWHV.LQGHU]XZHUGHQ GHQHQGLHDQVHLQHQ1DPHQJODXEHQ >(SK@$XFKHXFKGLHLKUWRWZDUHWGXUFKHXUHh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lOOWQXQGLHVH%RWVFKDIWGHU/LHEH*RWWHVLQXQVHU+HU]XQGZLUODVVHQXQVGDUDXIHLQ ZHUGHQZLUPLWJURHU:DKUVFKHLQOLFKNHLWYHUlQGHUWZHUGHQ(VLVWZLHPLWHLQHU /LHEHVHUNOlUXQJ,FKKDEHGLH0|JOLFKNHLWGDUDXI]XUHDJLHUHQXQGHLQH/LHEHVEH]LHKXQJ HLQ]XJHKHQ:HQQGLHVH/LHEHHQWIODPPWLVWZLUGVLHGXUFKQLFKWV]XVWRSSHQVHLQ*DQ] IUHLZLOOLJRKQH=ZDQJRKQHGDHVMHPDQGEHILHKOW HLQIDFKQXUDXVHLQHUJDQ]QDWUOLFKHQ 5HDNWLRQKHUDXVEHJLQQHLFK *RWW]XOLHEHQ6FKRQKDVWGXGDVHUVWH*HERWHUIOOW'XVROOVW *RWWOLHEHQ0DQNDQQDXFKVDJHQ:HQQGX]XOlWGDV*RWWGLFKOLHEWZLUVWDXFKGX EHJLQQHQLKQ]XOLHEHQ 'XVROOVW*RWW/LHEHQ/LHEHXQG*HVHW] >+RV@6RNHKUHGHQQ]XGHLQHP*RWW]XUFNKDOWHIHVWDQ/LHEHXQG5HFKWXQGKRIIH VWHWVDXIGHLQHQ*RWW >0L@(VLVWGLUJHVDJW0HQVFKZDVJXWLVWXQGZDVGHU+(55YRQGLUIRUGHUWZDVDQGHUV DOV5HFKWWXQ/LHEHEHQXQGGHPWLJZDQGHOQPLWGHLQHP*RWW" :LHLQMHGHU%H]LHKXQJ JLEWHVDXFKLQGHU]ZLVFKHQ0HQVFKXQG*RWW'LQJHGLHHLQH %H]LHKXQJI|UGHUQXQGVROFKHGLH%H]LHKXQJ]HUVW|UHQ:HUZLUNOLFKOLHEWVWHOOWVHLQH HLJHQHQ:QVFKHKLQWHQDQXQGIUDJW]XHUVWQDFKGHQ:QVFKHQXQG9RUVWHOOXQJHQGHV $QGHUHQ+LHUJLEWHVNHLQH6HOEVWYHUZLUNOLFKXQJ0DQOlWVHLQ/HEHQIUGHQ*HOLHEWHQ$OV 1DFKIROJHU-HVXZLUGXQVHUJDQ]HV7UDFKWHQGDQDFKJHULFKWHWVHLQQDKHEHL,+0]XVHLQ :DVWXWHLQ9HUOLHEWHUQLFKWDOOHVXPEHLVHLQHU*HOLHEWHQ]XVHLQ"1LPPWHUQLFKWZHQQQ|WLJ YLHOH VFKZHUH'LQJHLQ.DXI"$OV9HUOLHEWHUZLUGHUVROFKVFKZHUH'LQJHQRFKQLFKWHLQPDO DOVVFKZHUH%UGHHPSILQGHQ0HLQ-RFKLVWVDQIWVDJW-HVXV(UVDJWQLFKWGDZlUHNHLQH /DVW]XWUDJHQ$EHUHVZLUGGXUFKVHLQH/LHEHP|JOLFKVHLQ$Q'DYLGVHKHQZLU VRJDUGD GHUGHU*RWWOLHEWVLFKQDFKVHLQHQ*HVHW]HQVHKQW >3V@/DPLUGHLQH%DUPKHU]LJNHLWZLGHUIDKUHQGDLFKOHEH'HQQGHLQ*HVHW]LVW PHLQH/XVW >3V@:lUHGHLQ*HVHW]QLFKWPHLQH/XVWJHZHVHQVRZlUHLFKYHUJDQJHQLQPHLQHP (OHQG>3V@:LHKDEHLFKGHLQ*HVHW]VROLHE,FKGHQNHGDUEHUQDFKGHQJDQ]HQ7DJ (VLVWNHLQ3UREOHPIUGHQ/LHEHQGHQ*RWWHV*HVHW]]XKDOWHQ$XFKGHVKDOEZHLOHUVLFK GHU/LHEHXQGQDWUOLFKEHL%HGDUIDXFKVHLQHU9HUJHEXQJVLFKHUVHLQNDQQ %H]LHKXQJ JUQGHWXQWHU$QGHUHPDXI9HUJHEXQJ >-R@8QGGDUDQHUNHQQHQZLUGDZLULKQHUNDQQWKDEHQZHQQZLUVHLQH*HERWHKDOWHQ >-R@:HUGDVDJW,FKKDEHLKQHUNDQQW XQGKlOW>GRFK@VHLQH*HERWHQLFKWGHULVWHLQ /JQHUXQGLQHLQHPVROFKHQLVWGLH:DKUKHLWQLFKW >-R@ZHUDEHUVHLQ:RUWKl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|QLJZLUGDQWZRUWHQXQGVDJHQ]XLKQHQ :DKUOLFKLFKVDJHHXFK:DVLKUJHWDQKDEWHLQHPXQWHUGLHVHQPHLQHQ JHULQJVWHQ%UGHUQ GDVKDEWLKUPLUJHWDQ 'HP/LHEHQGHQZLUGHVQLFKWVFKZHUIDOOHQVHLQH*HVFKZLVWHU]XOLHEHQ 'XVROOVWGHLQHQ%UXGHUOLHEHQ >-RK@(LQQHXHV*HERWJHEHLFKHXFKGDLKUHLQDQGHUOLHEHWGDZLHLFKHXFKJHOLHEW KDEHDXFKLKUHLQDQGHUOLHEHW >7KHV@hEHUGLH%UXGHUOLHEHDEHUKDEWLKUQLFKWQ|WLJGDPDQHXFKVFKUHLEHGHQQLKU VHLGVHOEVWYRQ*RWWJHOHKUWHLQDQGHU]XOLHEHQ >-R@'HQQGDVLVWGLH%RWVFKDIWGLHLKUYRQ$QIDQJDQJHK|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lHGLHLKU JHJHQVHLQHQ1DPHQEHZLHVHQKDEWLQGHPLKUGHQ+HLOLJHQGLHQWHWXQGQRFKGLHQHW 'DVLVWGHU:XQVFK*RWWHVGDVHLQH.LQGHUKLHUDXI(UGHQGXUFKLKUH/LHEHHLQH(LQKHLW VLQG'HU+HUUQHQQWGLH*HPHLQVFKDIWGHU*OlXELJHQDXFKVHLQHQ/HLE1LFKW]HUULVVHQ(LQ *DQ]HVVROOHQZLUVHLQ(UQHQQWGLHVHQ/HLEDXFK7HPSHOGHV+HLOLJHQ*HLVWHV+LHUKDEHQ ZLUDOV&KULVWHQHLQHJURH6FKXOGDXIXQVJHODGHQ(VZLUG=HLW%XH]XWXQXQGQHXGLH /LHEH]XGHQ*ODXEHQVJHVFKZLVWHUQ]XHQWGHFNHQXQG]XSUDNWL]LHUHQ6ROODQJHGLHVH(LQKHLW QLFKWEHVWHKWDUEHLWHWVHLHLJHQHV9RONJHJHQGHQ3ODQ*RWWHV'HQQGXUFKGLHVH(LQKHLW P|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|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|VHUDQJHQRPPHQKDEHQ(UVHOEVWLVWGHU$QIlQJHUXQG9ROOHQGHUXQVHUHV*ODXEHQV $OOPlFKWLJHUJURHU*RWW6FK|SIHUGHV+LPPHOVXQGGHU(UGH*RWW$EUDKDPV,VDDNVXQG -DNREV9HUJLEXQVGHLQHP9RONGDVGXDXV*QDGHGXUFKGHQ2SIHUWRG-HVXJHUHWWHWKDVW 9HUJLEXQVHUH=HUULVVHQKHLW8QHLQKHLWXQVHU0XUUHQJHJHQGLFKXQGGLH*HVFKZLVWHU)OOH XQVQHXPLWGHLQHU/LHEHXQGEHIlKLJHXQVGDGXUFKGHLQHQ:LOOHQ]XWXQ9ROOHQGHGHLQH *HPHLQGH-HVXVNRPPHEDOG 4XHOOHZZZ*RWWLVW(LQHUGH
© Copyright 2024 ExpyDoc