HUMAN RESOURCE MANAGEMENT Q.1 :( A) What is the nature and scope of HRM?

ji ANS: Human Resource Management (HRM) is also a management function concerned with hiring, Motivating and maintaining people in organizations. HRM is a management function that helps manager’s recruitment select, train and develops members for an organization. Definition of HRM is concerned with people dimension in management, since every organization is made of people, acquiring their services ,developing their skills, motivating them to higher levels of performance and ensuring that they continue to maintain, their commitment to the organization are essential to achieve organizational objectives. Thus HRM refers to a set of programmers, functions and activates designed and carried out in order to maximize both employee as well as organizational effectiveness. Scope of HRM: The scope of HRM is indeed vast. All major activities in the working life of a worker from the time of their entry into an organization until he or she leaves HR planning, Job analysis and design, recruitment and selection, orientation and placement, training and development, performance appraisal and job evaluation, employee and executive remuneration, motivation and columniation and Communications, welfare, safety and health, industrial relations, The functions are: 1) Introduction to HRM 2) Employee hiring 3) Employee and executive remuneration 4) Employee Motivation 5) Employee maintenance 6) IR 7) Prospects of HRM The semantics: As in any other discipline there is the problem of semantics in HRM, we have two terms namely personnel management (PM) and HRM. B/w these two terms there is a basic difference and it is useful to understand as to what it is. HRM is broad concept personal management (PM) and Human resource development (HRD) is part of HRM. OBJECTIVES: The primary objectives of HRM are to ensure the availability of a competent and willing workforce to an organization. HRM objectives are 4 fold: societal, organizational, functional and personal. The societal objectives of HRM seek to resolve that the organization becomes personal. Organizational Objectives: make sure that HRM is not a standalone department but rather a means to assist the organization. Functional objectives: remind that the HRM that it has only functional value and should not become too expensive at the cost of organization. Personal objectives: assist employee in achieving their personal goals. HRM must perform certain functions. These have been stated wile outlining the scope of HRM. Generally it may be stated that there is a correlation b/w the objectives and the functions in other words some functions help realize specific objectives. Organization of HR department Two issues become relevant in a discussion on organization of an HR department, they are I) place of HR department in the overall set up II) competition of the HR department itself. Outsourcing: is the process by which employee transfer to work another organization that specialize in that work and can perform it more efficiently; Image and qualities of HR/personnel manager. The most important quality is her ability to deal successfully with people who have likes and dislikes, whims and fancies, which favor some and are prejudices against others he/she has to deal with

Principles of individual levels. Sympathy and consideration IV. . and significance of MNC which in turn increased the mobility of people. In large firms there may be promotional opportunities within the specialized function. HR executive Why study HRM? HRM is a study about people in organizations how they are hired. compensated. Knowledge of labor and other terms V. Principles of scientific selection. The rapid growth of globalization has increased the number and significance of MNC’s which in turn increased the mobility of people working for MNC’s is a challenging task. Principles of inactive. and trainer. Included would be such roles as interviewer. Tact and resource fullness III. trained. HR executives: The tope level HR executives usually via president of an organization have the responsibility of linking the firm’s corporate policy and strategy with HRM. and trainer. compensation analyst. HR manager: The HR manager is a generalist who administers and coordinates programmes writing across functional areas. Q. Academic qualifications Personnel policies and principles Our policy is to institute every practical method for engineer’s safety into our process and equipment to provide protective clothing where necessary. Motivated and maintained. Fairness and be firmness II.workers who refuse to see reason and who believe: I. Jobs and careers in HRM: 1. Principles of tear spirit. A prior knowledge about HRM. job analyst. The rapid growth of globalization has increased the no. The career Option in HRM: HR position in organizations can be divided into there categories – HR specialist – job fare usually the entry level positions for an HRM career. A typical management student is likely to take up a job in an MNC after his/her degree.1 :( B) What are the options in HRM? Why according to you one should take HRM as career option? ANS: HR position in organization can be divided into the categories – HR specialist – job fare usually the entry level position for an HRM career. keeps him/her prepared for the challenges lying ahead. motivates and maintained. This is because the HR manager has to oversee the implementation of the HR policies at the facility and advise line managers on HR issues. base first coordinators. benefits co-ordinator. Apart knowledge about HRM. Why HRM as a career option? HRM is a study about people in organizations how they are hired. The HR executives is also expected fix inputs into the organizational goals. Principles: is the fundamental truth established by research investigations and analysis. in large firms there may be promotional opportunities within the specialized function. Brand social outlook VI. especially if these goals effect or are affected by personnel activities. how building is constructed and machinery installed how needed inputs are measured and put to use. HR specialists 2. HR manager 3. Included would be such roles as interviewer. keeps him/her prepared for the challenges lying ahead. job analyst. particularly international HRM. particularly international HRM. Principles odd dignity of labor. compensation analyst. trained. The HR managers are usually a top ranking person at a plant or facility and as such are expected to know about all areas of HRM. HR manager: The HR manager is a generalist who administers and co-ordinates programmes witting across functional areas. The HR manager is usually a top raking person at a plant or facility as such is b. How an idea is conceived by an entrepreneur. It is important to consider HR opportunities and limitations in establishing over all organizational directions.

belief.corner the impact of political institution on the HRM department in a democratic political set up thus an there institutions which together constitute the total political environment. Prominent internal forces: I. Judiciary: This has the role of a watch dog. with the internal environment. money and capital markets. Q. Task. experiences. the same has been included. economic growth. IV. Organizational culture and conflict: Is the product of all the organizations features. Strategy. He/she also needs to facilitate interactions that occur with in work groups. customers and industrial labor are the components of the economic environment. Unions. national and per capital income. agriculture. art. Professional bodies.2 :( A) Explain in detail the external and internal environment of HRM? ANS: The external and internal environment of HRM: External forces: Include political legal. industrial production. technological and cultural factors. and population. strategy formulation. When we describe task we keep the job in mind because an employee holds a job and through that hear she discharges tasks associated with it. They are the legislature – also called parliament at the central level and assembly at the state level is the law marking body. and other capabilities and habits acquired by an individual as member of a society. It includes environmental scanning. The executive: Popularly known as the government is the law implementing body. Unions: is as external factor. customs. because a firms personnel activities will be influence by its own unions as well as the unions of other plans. Leadership: Who matters in any functional area of business HRM is no exception. economic. Leaders must see the distinctive skills.Q. personalities and motives of employee. V. Professional bodies: The body has not been able to prescribe its accidationa as a prerequisite for HR practitioners in fact it has not prescribed a minimum academic qualification for an HR practitioner. VI. Control birth rate. competitors. Technological: Technologies is a systematic application of organized knowledge to practical tasks enables man to over come distress. suppliers. Organizational culture reflects the pasts and shapes the future. Task: Is a work than an employee is expected to do several tasks constituting a job. Economic: Refers to all those economic forces which have a beating on the HR functions. The legislature decides and the executive acts. Organizational culture and conflicts. Cultural forces: Refers to the complex whole which includes knowledge. The main function of the judiciary is to ensure that both the legislature and the executive work within the confines of the constitution and in public interest. implementing and evaluating business strategies to achieve organizational objectives is a set of term performances of a corporation. its people its success and its failures. laws. strategy . III.2 :( B) What is the role HRM in Strategic Management? ANS: The role of HRM in strategic management may be understood as the process of formulating. the influence of which an HRM is considerable. Leadership. Strategy: Indicates the direction in which an organization moves as a plan a strategy takes the organization into the area of competition in the environment and into alignment with the broachers of the firm. II. Internal forces: There are factors internal to the organization which influence HR activities unlike the external forces where HRM has no control internal factors are within its influence. Each of these external forces is examined political legal: . morals.

HR functions can contribute to strategic plans and actions of the firm in the following ways: 1. increasing investments in HR is the investments on organization makes in its human resources. Importance of strategic management: 1. 3. HR is significant as it helps determine future personnel needs. Foundation for personnel functions: manpower planning provides essential information for designing and implementing personnel functions such as recruitments. Stimulation of critical thinking. measuring the performance in relation to the targets at a given time. Organizational growth cycles and planning . standards and limits of the objectives and implementation plans. basic activities involved in strategy evaluation are. Three steps of strategic managements: 1. Analyze the opportunities and threats or constraints that external environments. Implement the strategies. Minimizes the effects of adverse conditions and chances. Explicit communication of goals. International strategies: depends upon HRP the department’s ability to fill key jobs with foreign national. Follows identifications. Represents a frame work for improved co-ordination and control of activities. Corporate level 2. Proficient strategic management. selection. Productivity as an HR based strategy. ensures protection to weaker sections acts as a basis for other personnel functions helps overcome resistance change and so on. human assets as opened and training and developments. Part of strategic planning: at the beginning of strategic planning HRD provides a set of inputs into the strategic formulation process. Q. 4. Business unit level 3. Functional level Strategy evaluation: process results in decisions that can have significant and long lasting consequences. Execute modifications where necessary and are feasible. 4. Factors affecting HRP: 1. Type and strategy of organization 2. Evaluate and control activities to ensure that the organization objectives are achieved. Future personnel needs: planning is significant a bit helps determine future personnel needs.3 :( A) Describe Human Resource planning with illustration. 2. Surplus or deficiency in staff strength is the result of the absence after defective planning. Analyze the deviations from acceptable tolerance limits. personal movement and training and developments. ANS: Human resource planning with illustration: Refers to the estimation of the number and the type of and the type of people needed during the ensuring period. Quality and service are HR based strategies. Provides an objective view of management problems. Strategy formulation at three levels: 1. 2. 5. Creating highly talented personnel: jobs are becoming highly intellectual and incumbents are getting vastly professionalized.implementation and evaluation and control. Establishing performance in relation to the targets. The study of strategic managements emphasizes on monitoring and evaluating environmental opportunities and threat in the light of a corporate strengths and weakness. 3. 2. 6. 3. Encouragement of pro active rather than reactive behavior.

activation soon results in a flood of application or resumes. 5. Recruitment is a five step process: Planning: Involves the translation of likely job vacancies and information about the nature of these jobs in a set of objectives or targets that specify a) number b) type of applicants to be contacted. Excludes screening from the scope. On one hand they want to do what ever they can do to attract desirable applicants. Q. It is done well results in a better selection. Geographic distribution of labor markets comprising global seeker. Generated resumes from 2000 applicants of which 200 were judged to be qualified. However we have included screening in recruitment for valid . Environmental un-certainties 4. it represents the first contact a company makes with potential employees. Strategy development: Once it is known how many and what types of recruits are required. Off landing the work The planning process: HRP essentially involves forecasting personnel needs. Nature of jobs being filled 7. Make or buy employees. assessing personnel supply and matching. demand supply factors through personnel related programmes. 3.3 :( B) Write an essay on Recruitment? ANS: Recruitment is the process of searching for and obtaining applications so as to build a pool to job seekers from whom the right people for the right jobs may be selected. Both external as well as internal factors would govern the recruitment process. Decision to have temporary and part time employees. 2. serious considerations needs to be given to: 1. Type and quality of fore casing information 6. Time horizons 5. the type of people depends on the tasks and responsibilities involved and the qualifications and experience expected. Technological sophistication. If the organization has planned well and done a good job of developing its sources and search methods. Type of contacts: refers to the type of people to be informed about job openings. On the other. labor market conditions legal and political considerations and the company’s image are that external factors among the internal factors are recruiting policy of the organization. 3) Screening of applications can be considered as an integral part of the recruiting process though many view it as the first step in the selection process. Searching: once recruiting plan and strategy are worked out the search process can begin as search involves two steps Source activation Selling 1) Source activation are activated by the issuance of an employee requisitions.3. Sequencing the activities in the recruitment process. These details are available through job description and job specification. Demand and supply of specific skills unemployment rate. 4. The purpose of recruitment is to build a pool of applicants. Sources of recruitment. 2) Selling in the searching process concerns communications organizations walk a tight rope. Number: organization always plans to attract more applicants than they will hire. they must resist the temptation of ever selling their virtues both the message and the media drive attention. They have included screening in beginning of this. this means that no actual recruiting takes place until managers have verified that a vacancy exists or will exist. Message refers to the employment advertisement with regards to media.

overtime and shift rates. Certain documents need to be executed by the employer and the candidates. it is also called induction. One such document is the attestation form. Preparing for the induction of the new employee. allowances. The basic information that should be included in a written contract of employment will vary according to the level of the job but the following check list sets the typical headings: Job title Duties including a phrase such as the employees will perform such details Date when continuous employment starts and the basis for calculating service Rate of pay. Orientation may be done informally or formally. There is also a need for preparing a contract of employment. This form contains certain vital details about the candidate which are authenticated and attested by him /her attestation form will be valid record for future references. determining the information the new employee should know and presenting the information effectively are the requisites of an ideal orientation . The techniques used to screen the applicants vary depending on the candidate sources and recruiting methods used. Formal induction is shared by the HR rep and the line manager. 4) Evaluation and control is necessary as considerable costs are incurable in the recruiting process. method of payment Hours of work Holiday arrangement Sickness Length of notice due to and form employee Grievance procedure Disciplinary procedure Work rules Arrangements for union membership Arrangements for terminating Employers right to vary terms of the contract subject to proper notification being give. ANS: The different types of contract of employment: after the job offer has been made and the candidates can accept the offer. Q. Formal orientation is lengthy and may last even a few months. some companies even conduct anxiety reduction seminars.4 :( A) What are the different types of contract of employment? Explain in detail. job satisfaction. c) Cost of advertisements of other recruitment methods that is agency fees d) Cost of producing supporting literature e) Recruitment overheads and administrative expenses f) Costs of overtime and outsourcing will the vacancies remain unfilled g) Cost of recruiting suitable candidates for the selection process Q.reasons. their co-workers and the organization. informal induction is brief.4 :( B) Explain: 1) Orientation: ANS: Orientation is a systematic and planned introduction of employee to their jobs. and advertisements. the employee is expected to familiarize with the new environment by him self or her self while working on the allocated job. The latter briefs the new employee about the specific job duties while all other details are provided by the HR rep. The selection process begins after the applications have been scrutinized and short listed. a) Salaries for recruiters b) Management and professional time spent on preparing job description.

it is the team work which matters. Certain generalizations can be made in respect of executive remuneration in our country. explain with examples? ANS: Employee Remunerations: Executive remuneration comprises salaries. and there is large scale migration of senior managers from public sector of those in the private sector. whether the employee works independent of others or is dependent depends in the type of jobs. Q. A major chunk of the salaries of managerial personnel is taken stand to away by taxes. salaries are ought to be linked to performance. They are worth lakhs of rupees in terms of talent and brain power. where the jobs are sequential or pooled. temporary task forces and assembly teams represent pooled jobs. . Here non overlapping routes are allotted to each worker in such situations the activities of one worker have little bearing on the activities of other workers. Independent jobs do not pose great problems in placement for each employed needs only to be evaluated related to the match between his or her capabilities and interests and those required on the job. Project teams. transfer.5 :( A) As an HR manager on what basis employee remunerations and incentive be decided. Sequential activities of one worker are dependent on the activities of the fellow worker Pooled there is high interdependence among activities the final output is the result of contribution of all the workers. demotion of present employees. The difficulty with placement is that we tend to look at the individual but not at the job. though they stand to gain when workers go on strike and succeed. Executive remuneration differs from wages and salaries paid to other employees. Placement problems the difficulty with the placement is that we tend to look at the individual but not at the job often the individual does not work independent of others. it is the assignment where employee is assigned to a new or different job. placement refers to the assignment of a new employee to his or her job. The objective is to assign individuals so that all jobs filled at least minimally qualified persons and individuals are placed on jobs that will make the best possible use of their talents given available job and HR constraints. salaries are gaining acceptability. in this section placement of new employees is emphasized. And their greed must be satisfied so that they can adopt honest business practices. second executives alone are not responsible for an organizations healthy bottom line.programme. Jobs in this context may be classifies into many categories. Executive are derived by the privilege of enjoying unionized strength. first high remuneration seems to be merely a hype disregarding individual intrinsic worth. comes the placement. Independent portal service or field sales. third there must be some parity between salaries of an executive and wages of a worker and finally higher salaries and perks do not guarantee motivation. First norms of wage and salary administration are observed only in part. commission stock options and perks. Certain social and ethical issues are relevant in this context. placement includes initial assignment of new employees and promotion. rat race exists among rival firms to attract talented individuals. 2) Placement: ANS: Placement: is understood as the allocation of people to jobs. They need to be attracted. After orientation. the individual does not work independent of others. There are several reasons why executives are paid more. bonus. Secrecy is maintained in respect of salaries and perks paid to executives. Whether the employee works independent of others or is dependent on the type of jobs. trained and motivated. It is a simple task where the job is independent. perks generally outstrip other elements in the package of remuneration.

stiffer income taxation. demotion of present employees. it is the assignment where employee is assigned to a new or different job. placement includes initial assignment of new employees and promotion. Schemes in which earning varies proportionately less than the output.More and more socially responsive actions. reduced scarp and the like are the other benefits of incentives. increasing supply if managers and technicians and encouraging employees to become owners of enterprises are the answers to the issues rose. ILO classifies incentive scheme into four: 1. If an individual fails to meet minimal requirements in one job. in this section placement of new employees is emphasized. Schemes where earnings differ at different levels of outputs. Problems associated with incentive chances may be over come and the plans may be made to serve their purpose. as well as for indirect employees. schemes that are in operation fall into the classification made but by the ILO. Schemes in which earning vary in proportion to output. There are incentive schemes for direct workers who in batches. provided several safe guards are taken. 4. Placement problems the difficulty with the placement is that we tend to look at the individual but not at the job often the individual does not work independent of others. Reduced cost. this leads to better motivation among employees. Regards. There are problems nevertheless quality of the products is likely to decline. Jobs in this context may be classifies into many categories. From a managerial prospective the task is to understand and capitalize. on each person individuality is best viewed as his or her unique profile of scores on a variety of individual measures. Introduction of an incentive scheme is difficult too. The objective is to assign individuals so that all jobs filled at least minimally qualified persons and individuals are placed on jobs that will make the best possible use of their talents given available job and HR constraints.5 :( B) Suppose you are a placement coordinator of a leading B-school how will you secure placement and packages for your students in MNCs. When a candidate has been selected it is logical that he or she is placed in the position that was advertised earlier. Changes in the work ethics reflecting the demand for meaningful work. Independent jobs do not pose great problems in placement for each employed needs only to be evaluated related to the match between his or her capabilities and interests and those required on the job. The difficulty with placement is that we tend to look at the individual but not at the job. The advertisement contains job description and job specification in detail. Q. he or she will be considered for other available jobs and will probably be offered employment in one of them. Ratnesh Moghe . reduced supervision. 3. transfer. We are entering an age when applicants must be considered for several jobs rather than one. the individual does not work independent of others. Schemes in which earning vary proportionately more than the output. 2. Incentives are linked to performance. Incentive to be decided: employees are paid incentives in addition to wages and salaries. but the schemes are fine tunes to meet individual organizational requirements. whether the employee works independent of others or is dependent depends in the type of jobs. Incentive schemes are highly popular in Indian industries. prepare full project report on that? ANS: Placement is understood as the allocation of people to jobs. Whether the employee works independent of others or is dependent on the type of jobs.

/  .0..075705.03083.70/14790.

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

7432039-2801470780104734390.9945745073491.9430110.3080.943-03.890.3...041904--:990 1443.98:-0.47/394900.88902.4393:4:80254203989.0/:70 8./0/-90#705 8420.90/ 941.93 2540787994.3/ 9047.08 4.9.7907284190.3/570803939031472. 31472.9431472-0.943 98.8 ...943  7039.3/:.7574.943419030025400 /09072339031472.93807.3/5.4397./09.70574.3/90302.3/2...9438039.9439.3/8197. 4907/09.-4:990850..3.3.4.0.3/1472025400 70.2039 4:784147 4/.3020398147:343202-0785 77.9.0 #.330/3974/:.3   7039.47039.94102542039 %0-.302039814790723.4.890025400850714728:.798..90415..84.9.94341025400949074-8 907..8980989095.:/0/3.:/3.79903.47/1471:9:70 7010703.3/:.:.8.4-/:9080.07 %0.94102542039.0.73..3/0.4 47078.84.-0/43031472..9439030025400 84:/34./70.808:..70/-90# 705.9438-701 900254008050./38 4-990 :9083.908 2094/415.9907-70189030025400.300/1475705.31472.4397.57.03.99089.7090706:890841.43/:.0/:094.3/90-.47039..3.984:/-0 3.. .03.9438023.943 .471472...53.1.425.07.0..94388.0/3/:.1024398 472.77.0574.0/:70 477:08 77.709903003.2.943 $ 7039.78  !705.4397.9003.9432.30970/:.9438.302039 $.07920..0    "   5.88147.73147903/:.8..08  %0708..90/4-  472.7.3088 03941349.

:9.39398./:.9438.9.90./:.6:.02039 5..9903/..90/70.943.88:08.4208905.3 00./9449070254008 2.70.4397-:94341.94380.704:994-0 30/945071472.0390/3/..90841490747078  $06:039.9.943890.08.4228843894.3/8:..30/370850.9438.798.28 902547.0 702:307.3/9480706:70/4390 4- %04-0.33.020398:3/078944/.943/110781742.090-0895488-0:80419079..9904.0398.020397010789490.039.07..9.9080..02039 $ !.027.7 ..9904-41903903/..07.3/-7.8849.03.3/09./0/ 05.94741948039057.883203941.90/ 3/907700/2:89-0 8.881083942.8802-90..3/249.94341803472.88320390700254008 ..3/8.:9.38107 /0249434157080390254008 39880.0894.3/.3.0...041702:307.08  0703434.220  190747039.07.2508 $ 25400#02:307.:9.172894.70.9438002894-0 2070..:/0839.439092.9434150450944-8 9890..398       "   8..020393.3#2.708 -43:8 .9.3900249.9574-02835.039.705.07817425:-.80/  !..8830/94..9..9435.-908./9400.0702:307..9047078  989090.-:9349 .70841.90/94902..0203989.99.807./0370850.7.82509.-04- .990.4:98975490700203983905.-0.8833/.475440/   !..8417:500839072841 9.0.943  ./:.708.90903/9444.5078433089.00898. /408349473/0503/0394149078 0907900254004783/0503/0394149078478 /0503/039/0503/8390950414-8 4-8398.9810/849.9-4994230 97/90702:89-084205.70.908414304707.28 7057080395440/4-8  %0/11..3047/11070394./:..43/00.08 079..43909 1789702:307.9-.08.3.55374:908.:995..39738..8.3/3...39.3/ 57424943 97.708.384.90903/9444.8 ..08./2470 %0..708.70/0503/0394390.:341908.3.8147.02039413002540088 025.0990-0.0.990.30/.82.-:9349..50/870.70700.3/94.4:95:9890708:941.3/#.30025400948 47074- 98.79-090038...943 ....4707.0389.:9.30307..883203941300254008.70/07.4990/940.943 0.02540/300/84394-0 0..059.94100.3 -02.0..08 0...0-0/0.479 80.3/ 3/.0041 0343:3430/897039 94:9089.08  079./:..70479.708 412.708..8070904-83/0503/039 070904-8./:.:9./:./408349473/0503/0394149078 090790025400478 3/0503/0394149078478/0503/0394390950414-83/0503/0395479.3/90708 .97.04710/8.5.70806:039.94334:7.904708  3/0503/0394-8/4349548070.07.-98...943.470738:.3/.9.43897.4.-0900384707.430.5.908414304707 .708. 459438.0203989.2.3..-9.997.3 90.3/5078 50780307.303470784438970.9903/..9.9089013..3/8./23897.3/5078/4349:..3/50785.7080.9.0/-9057.5747.3/39070898..9418.88025400702:307.705.734390..0/434-89.4-810/.997.:9.08.347.704-807.7/33/..890.0743.247.10/5078438..0/4335.70.020391470.89:...90841901044707!440/90708 3907/0503/03.3.843800.99078 !740.3/94.:99905.90/ 97.243.:9.35407 %0300/94-0.9./45943089-:8308857.:9.47.0841..7085.3/13.42578088..:.078.947  %070./:.903/.02039574-02890/11.3.79..2437..3.4:397 7893472841.92.0702:307.94380.89232..703497085438-0147 .80.00/  $0.

0894.8833/./894-09907249.3//./:.4..0203989.943.02039574-02890/11.02039414:7  $.988094/0.02089./.3..079802039.8942009232.:99905.88320390700254008 .930840  . 03.709..039.3/ 90.9903/.9435.3904:95:9   $.7/8  #.08414:95:98  %070..90/984.9..-:9349.9024709../094 807.9 $ !..9705479439.02039.020393.9903/.3904:95:9   $./408349473/0503/0394149078 090790025400478 3/0503/0394149078478/0503/0394390950414-8  %0.438/070/1474907.8849..90.10:.07900886:.90254008  3.705.3/9480706:70/4390 4- %04-0.90903/9444.0/434-89.090-0895488-0:80419079.020391470.08 ./3.9079.3/../3 8.90/94902.9.0/ 8:507.:/0839.039.0203989.92...701:5740..380789490 88:087480  3..94741.439.80.08.33/.0.94341.0/3905489439.838:5512.890.0 980.709413/.09075:75480 574.3/.733.59.-04- .439092..2430254008 #0/:.0/.398   #0.6:.039.3/03.8.70..70904907-030198413.//94394.9904.884707:36:057410418...0909.4444:80.3.3.703..:70 5.07.75943./0/0254008.9431.039.900889.9574-02835.7/8.904708  3/0503/0394-8/4349548070.3/900....04780-0.331:47 0.02080700.7338/1107.308390 4709.8830/94.:.70545:.3025400894-0.420.3/574-..--0411070/02542039 343041902  742.9.8894:3/0789.4209../0/80.70574-028 30.03.384-/08.-04-8.0208/11.1.843 70/:..08.4-810/.0208147/70..02083..0.884.90478085./:.55./.9.708574547943.039.903/../:.87010.7034507.-0900384707./:..02083.5078433/.083.0/8.20.-0.43897.90903/9444..943 3.0208.33/:89708 8.8:708  %0/11.94190574/:.3/8..:9 944 !74-028.078.3.47.1.3430 1.3/5.9390/02.707..90.489 70/:.3/ 57424943 97..9.0.03   ..73574547943944:95:9   $..039.470843.07.08.02540/300/84394-0 0.705.706:70203983 4304.90/70.4:7./:.70.438/070/14780.733.0398.3/905.0.003.3/#.3.38...881.07980/0.9/11070390.08..7090..08..02039.7030/945071472..4-87.9.-:9349 ..943.9904-41903903/.-908.5..33.02039413002540088 025.8-003 800.0.9.039.039.5..98 -089.7574547943.3.80/  !./:.8.3/4-850.90/93.9433/09.094-0/0.89232.3/ 3/./:.9.3982:89 -0. /408349473/0503/0394149078 0907900254004783/0503/0394149078478 /0503/039/0503/8390950414-8 4-8398.00/.30 3974/:.0.38107 /0249434157080390254008 39880.733.9432.07.08 .9434150450944-8 9890./0-:9-90 -:9908.470..701309:3089420093/.2.3.02083.5.:995../:.039.-02.8.020398:3/078944/.081474:789:/039838 5705.10/5078438./:.9438 8911073.08 %070.708 3.70039073.39490 .75.0208.574850.07.0 430.7085438.733/.81473/70.94707843-..3.3/39070898.883203941300254008.082.881083942.447/3..382./:..881083. 706:7020398   "   $:554804:...-04.42043078410390757808.3/247084.3047/11070394.3/14720.