Paper First Greyhound, Then Dial, and Henkel Dial

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 Ni~e ^wugr Nms|msiwe ^wsiwejr Fbs~w Jseramu`g( Wae` Jseramu`g Gbih( Wae` Gbih( @mz Ae`keh$Gbih Kehmd|mk 3 $ Kehi~ I\ 96 DD UJD I``i Gezb He~wisb-95>21 Jse~~bigb DD-957<9 Zbcmzm Ksb~wbi`wm-97332 DIJB^WES MF CU^B@E^^ IGDB@B^WSIWBM@ JIGOIA DIGI U@BVES^BWR 3<99

description

Case Paper for Corp Strategy Class - MM UGM AP16

Transcript of Paper First Greyhound, Then Dial, and Henkel Dial

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Ni~e ^wugr

Nms|msiwe ^wsiwejr

Fbs~w Jseramu`g( Wae` Jseramu`g Gbih(

Wae` Gbih( @mz Ae`keh$Gbih

Kehmd|mk 3 $ Kehi~ I\ 96 DD UJD

I``i Gezb He~wisb-95>21

Jse~~bigb DD-957<9

Zbcmzm Ksb~wbi`wm-97332

DIJB^WES MF CU^B@E^^ IGDB@B^WSIWBM@

JIGOIA DIGI U@BVES^BWR

3<99

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Gb ikabs 3<<>( Aescesw Ciud( NEM Gbih de`rid|ibki` kb`esoi Gbih ~ehidi cescijib

 |esuciai` gb wiau` 3<<<$i`( dehihub ~wsiwejb cb~`b~ Ciud i`wisi hib` gbve~wi~b iwiu de`ouih hb`b

  |smguk ri`j wbgik |smgukwbf gi` de`bwbkcesiwki` b`ve~wi~b |igi |smguk b`wb Gbih( db~ih`ri

~icu` Gbih. \igi ikabs 3<<3( wehia wesoigb |escibki` kb`esoi keui`ji` Gbih( gisb ai~bh |esoihi`i`

 cb~`b~`ri duhib |esu~iaii` wes~ecuw ces`idiki` Jseramu`g gihid ~eoisia izih cesgbsb`ri.

^eoisia Izih Jseramu`g gi` \eskedci`ji```ri.

Jseramu`g gbgbsbki` gb Abccb`j( Db``e~mwi( |igi wiau` 9297. Cb~`b~ izih`ri igihia

de`regbiki` wsi`~|mswi~b cb~ cijb |isi |e`idci`j ri`j cekesoi gb Widci`j Ce~b De~icb.

U~iai`ri ceskedci`j( gi` Jseramu`g kedugbi` dehikuki` ek~|i`~b suwe wsi`~|mswi~b ge`ji`

 cesm|esi~b gb ~ekbwis Nabnijm. ^ehidi e`id cehi~ wiau` kedugbi` suwe`ri gb|eshui~ ab`jji ke

  @ez Rmsk gi` Ki`~i~ Nbwr. \igi wiau` 926< Jseramu`g wehia cesai~bh de`ni|ib wuoui``ri

u`wuk de`jm|esi~bki` ~ecuia ~b~wed wsi`~|mswi~b cb~ ri`j gi|iw de`ji`jkuw |e`ud|i`j

ge`ji` wuoui`$wuoui` gb ~ehusua Ce`ui Idesbki gi` Ki`igi.

\igi wiau` 9263 m|esi~bm`ih cb~ wehia dedcesb Jseramu`g ~eoudhia ce~is kehecbai` ki~

~eab`jji dedu`jkb`ki` u`wuk dehikuki` ek~|i`~b ke cb~`b~ hib`. Jseramu`g kedugbi`

deduwu~ki` u`wuk dehikuki` ci`rik ek~|i`~b i`wisi hib`?

$ De`gbsbki` b`gu~wsb di`ufikwus cb~( ri`j de`oigb izih gbvb~b di`ufikwus wsi`~|mswi~b

!9263".$ De`jikub~b~b   Cmmwae Hei~b`j Nmd|i`r ~ecuia |esu~iaii` hei~b`j  de`oigb Jseramu`g

Hei~b`j !9263" ri`j dehiri`b hei~b`j ~uiwu |esi`jkiw wesaigi| |esu~iaii` hib`.

\igi ikabs 926> Jseramu`g dedbhbkb > cb~`b~ ce~is rik`b cb~ wsi`~|mswi~b( |icsbki~b cb~( gi` oi~i

keui`ji` !hei~b`j ".

Ikub~b~b Ri`j Wesoigb gb I`wisi Wiau` 9266$92:< !NEM Jessr Wsiuwdi`"?

$ De`jikub~b~b hecba gisb >< |esu~iaii` ri`j dedbhbkb cb~`b~ weskibw ge`ji` wsi`~|mswi~b(

~e|eswb wmkm guwr fsee(b`gu~wsb g b~|hir(iseih ~am||b`j ( gi` hib`$hib`. @idu` gedbkbi` wbgik 

~edui |esu~iaii` wes~ecuw de`ju`wu`jki` cijb Jseramu`g( |esu~iaii` ri`j wbgik cb~i

gbkehmhi ge`ji` cibk gbgbve~wi~bki` ~ejesi( u`wuk de`jusi`jb efek`ri |igi kms|msi~b.

$ Ikub~b~b Isdmus & Nm( ~uiwu |esu~iaii` km`jhmdesi~b hib` ri`j ouji dedbhbkb cescijib

 cb~`b~ gb cbgi`j diki`i` gi` |smguk km`~ude`( ~eaisji '7<< ouwi. Isdmus ouji cesjesik gb

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  cb~`b~ |smguk fisdi~b( km~dewbk( gi` |smguk km`~ude` ~e|eswb ~icu`( ge`ji` desk Gbih(

ri`j desu|iki` gbvb~b Isdmus ri`j |ihb`j de`ju`wu`jki`. \igi wiau` 92:: Jseramu`g

de`ouih gbvb~b fisdi~b gi` de`rb~iki` cb~`b~ diki`i` gi` ~icu` Gbih u`wuk wewi| gbkehmhi.

Iku~b~b gi` Gbve~wi~b ^ehidi \esbmge 92:<$92:1

\igi wa 92:1 Jseramu`g wesgbsb gisb 5 gbvb~b m|esi~b( rik`b wsi`~|mswi~b( di`ufikwus cb~(

diki`i` gi` |smguk km`~ude`( oi~i hiri`i`( gi` oi~i diki`i`. \eshu gbjisb~ciziab km`~e|

gbves~bfbki~b JA ri`j weshihu cesijid oe`b~ cb~`b~`ri dedcuiw ci`rik gisb ikub~b~b wes~ecuw

wbgik cesai~bh ge`ji` cibk ~eab`jji |mswmfmhbm Jseramu`g di~ba ci`rik cesucia$ucia ~ehidi

  |esbmge wiau` wes~ecuw. @idu` gedbkbi` Wsiuwdi` di~ba derikb`b ciazi |esu~iaii` ri`j

wesgbves~bfbki~b iki` dedbhbkb gi~is ri`j kuiw dehihub hb`b cb~`b~ ri`j ci`rik. ^ede`wisi bwu

ke`riwii``ri Jseramu`g ~edikb` oiua gisb cb~`b~ b`wb |esu~iaii` ri`j ~ece`is`ri rik`b

wsi`~|mswi~b cb~.

\igi cuhi` I|sbh 92:1( Wsiuwdi` de`jikub~b~b 2:% ~iaid Veseq Nms|msiwbm`( ~ecuia

 |esu~iaii` i~usi`~b ce~is gb U^I( ~eab`jji ~iiw bwu |mswmfmhbm cb~`b~ Jseramu`g igihia?

  Wsi`~|mswi~b? gbvb~b oi~i wsi`~|mswi~b i`wisi kmwi gi` oi~i wsiveh.

  Di`ufikwus cb~? |smguk~b kism~esb( |esikbwi`( gi` |smguk~b ~uku nigi`j cb~.

  \smguk km`~ude` gi` diki`i`? |smguk~b hiceh |sbviw u`wuk |isi |esbweh gi` oi~i gb~wsbcu~b

~e`gbsb |smguk ge`ji` desek dbhbk Jseramu`g( ~e|eswb Gbih( Wm`e( \useg @iwusih( ghh.  Oi~i |ehiri`i` gi` diki`i` ? oi~i hiri`i` diki`i` gb |e~iziw( ki|ih |e~bis( gi` ouji

~ecijib cescijib |idesi`( ~amz |esgiji`ji`( km`ves~b( ghh.

  Oi~i keui`ji`( wesdi~uk gbgihid`ri hei~b`j |esi`jkiw nmd|uwes( hei~b`j eyub|de`w(

hei~b`j keui`ji`( i~usi`~b( |e`ouihi` wsivehhes¶~ naenk( ghh.

Kehbdi gbvb~b wes~ecuw de`jai~bhki` |e`gi|iwi` jicu`ji` ~ece~is '7(5 Dbhris |igi wiau` 92:1.

\esdi~ihiai` Jseramu`g

\smfbw Isdmus de`usu` gisb '33 ouwi gb 92:2 de`oigb ' 9(: Ouwi gb wiau` 921<. ^ihia ~iwu

 |e`recic`ri igihia ikbciw hecba wb`jjb`ri u|ia gi` ce`efbw |isi kisrizi` Isdmus gbci`gb`j

  |isi |e~ib`j`ri u`wuk b`gu~wsb ~eoe`b~. Jseramu`g kedugbi` dehikuki` efb~be`~b dehihub

  |e`jusi`ji` kmd|e`~i~b kisrizi` zihiu|u` de`jaigi|b ci`rik wi`wi`ji` gisb ^esbkiw

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\ekesoi. Efb~be`~b ~ihia ~iwu cbiri wes~ecuw dedci`wu Isdmus ded|escibkb kb`esoi keui`ji`.

Jseramu`g |u` dedcibk km`gb~b keui`ji``ri ~ebsb`j ge`ji` |eskedci`ji` cb~`b~ wsi`~|mswi~b

 cb~ gi` ~uku cu`ji wb`jjb gb izih 921<$i`.

\igi wa 9219( Wsiuwde`w gbji`wbki` mhea Oma` Weew~ ~ecijib NEM ge`ji` wi`wi`ji`

 |e`jehmhii` Jseramu`g ri`j dedbhbkb cesijid oe`b~ cb~`b~ ri`j wbgik ceskibwi` ~iwu ~idi hib`(

gi` wuoui` u`wuk de`ni|ib SME db`bdih 95%. Km`gb~b kedu`jkb`i``ri nuku| ~uhbw ikbciw

km`~ekze`~b idcb~b Wsiuwdi`w gihid ek~|i`~b gi` gbves~bfbki~b( |esuciai` wse`g gihid fikwms 

hb`jku`ji` gi` |sefese`~b km`~ude`( ~eswi igi`ri b`efb~be`~b b`wes`ih gihid |esu~iaii` ikbciw

  cbiri |smguk~b wb`jjb Isdmus gi` wi`wi`ji` gesejuhi~b wsi`~|mswi~b cb~ gb U^I ri`j

de`jikbciwki` ci`rik |e~ib`j cb~ ri`j did|u de`iziski` wisbf ri`j hecba dusia.

Gedb |escibki` kb`esoi keui`ji` kms|msi~b( Oma` Weew~ dehikuki` u|iri$u|iri i`wisi

hib`?

$ Gbve~wi~b Isdmus Fmmg Nmd|i`r !921>"( kise`i de`i`ji`b cbiri |smguk~b wb`jjb Isdmus 

wes`riwi wbgikhia dugia. Isdmus Fmmg Nm gbouih |igi Nm` Ijsi( B`n. ~eaisji '966 ouwi.

Zihiu|u` gbve~wi~bb wes~ecuw cesikbciw |igi de`usu``ri |e`gi|iwi` Jseramu`g gisb '5 ouwi

!9213" de`oigb '> ouwi !9217" wi`|i Isdmus Fmmg( ~enisi udud Jseramu`g  cesigi gihid

km`gb~b ri`j oiua hecba cibk gbci`gb`j wiau`$wiau` ~ecehud`ri.

$ Gbve~wi~b Wsi`~|mswi~b Cb~( ~ewehia jijih`ri u|iri |e`jusi`ji` kmd|e`~i~b kisrizi`(

kise`i wbgik igi ke~e~uibi` |e`gi|iw ge`ji` ~esbkiw |ekesoi. Jseramu`g    ouji ~ed|iwdehikuki` km`ves~b gisb wesdb`ih$wesdb`ih cb~`ri de`oigb ije`~b ge`ji` dmgeh kmd|e`~i~b

kmdb~b( |mmh wsiveh( g~c. @idu` ~ewehia u|iri |escibki``ri jijih( ikabs`ri gbvb~b

wsi`~|mswi~b cb~ Jseramu`g  gbouih ~eaisji '>5< ouwi |igi ~eoudhia jsmu| b`ve~wms Gihhi~.

\e`ouihi` b`b dedcesb gi`i ~ejis |igi Jseramu`g  ~ece~is '32< ouwi.

$ Gbve~wi~b Gbvb~b Hiri`i` Keui`ji` !Jseramu`g  Ni|bwih Nms|msiwbm`"( |igi wiau` 921:

gbouih '97< ouwi ~eab`jji dedcesb km`wsbcu~b gi`i ~ejis ':2(: ouwi cijb Jseramu`g .

Jseramu`g  ouji cesu|iri de`ouih Veseq Nm |igi wiau` 9211( `idu` kise`i wbgik igi ri`j

 cesdb`iw( Veseq ikabs`ri gbae`wbki` m|esi~bm`ih`ri ~eab`jji Jseramu`g wb`jjih dedbhbkb 3

gbvb~b( rik`b |smguk km`~ude` gi` hiri`i` oi~i.

^ewehia dehikuki` gbve~wi~b wes~ecew( Jseramu`g  ~ed|iw dehikuki` ~iwu ikub~b~b ce~is 

wesaigi| b`gu~wsb ri`j ceskibwi` ge`ji` |smguk km`~ude` !Gbih" rik`b wesaigi| \useq B`gu~wsb~

 |e`jai~bh |smguk |edces~ba sudia wi`jji |igi wiau` 9215 ~eaisji '3.67 ouwi. \igi wiau` 921<

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gbvb~b Gbih dedcesb kb`esoi keu`wu`ji` nuku| cibk ge`ji` cescijib |smguk ~icu``ri !Hbyubg

Gbih( Dmu`wib` Fse~a Gbih( ghh". \igi ~iiw bwu Jseramu`g Nms|msiwbm` cesji`wb `idi de`oigb

Jseramu`g Gbih( gi` kedugbi` ouji de`jikub~b~b Cesnk |smgu~e` |smguk |esiziwi` sidcuw

 |igi wiau` ri`j ~idi.

^ede`wisi bwu Gbvb~b Jseramu`g ri`j hib` rik`b Gbvb~b Oi~i Diki`i` Se~wmsi` de`oigb

 |e`jai~bh uwidi |e`gi|iwi` gb wiau` 921:. Gbvb~b wes~ecuw ~edikb` ceskedci`j gb esi 922<i`(

ri`j di`i ~iiw wes~ecuw ~egi`j de`jihidb cmmdb`j  cb~`b~ ibshb`e gi` ki|ih |e~bis. @idi

Jseramu`g Gbih kedugbi` gbucia de`oigb Gbih Nms|msiwbm`( ge`ji` |eswbdci`ji` ciazi `idi

Jseramu`g igihia wsige disk gisb cb~`b~ wsi`~|mswi~b cb~ ri`j ~ugia wbgik hijb gbjehuwb mhea

kms|msi~b.

Gbih Nms|msiwbm` ceskedci`j |e~iw gb izih esi 922<$i`. @idu` |igi wiau` 9223 wesoigb

~b`rihede` |e`usu`i` `bhib ~iaid ikbciw wbgik  |esfmsd$`ri gbvb~b oi~i keui`ji`( zihiu|u`

kb`esoi gbvb~b |smguk km`~ude` di~ba nuku| kuiw. Gbih cesu|iri dehikuki` |escibki` ge`ji`

gbizihb ge`ji` |esid|b`ji` msji`b~i~b( gi` gbhi`ouwki` ge`ji` |e`jusi`ji` auwi`j |esu~iaii`

gisb '15< ouwi de`oigb '55< ouwi u`wuk de`isbk se~|m` |m~bwbf |i~is. ^ede`wisi bwu gb ~b~b hib`(

 cb~`b~ di`ufikwus cb~ Gbih ouji de`usu` kb`esoi`ri ~ebbsb`j |e`usu`i` \useq gi` ~icu` gbih.

Kb`esoi Gbih ~ehidi 9226$3<<3

\igi wiau` 9226 ~edui hb`b cb~`b~ Gbih cesigi gb cizia i`nidi` ~esbu~. NEM Weew~kedugbi` gbji`wbki` mhea Dihnmhd Oi~mff ~ecijib NEM Gbih( ri`j ~iiw bwu gbaigi|ki` |igi

gbvb~b |smguk km`~ude` ~ecijib km`wsbcuwms |e`gi|iwi` |esu~iaii` wesce~is ~iiw bwu. Oi~mff 

dehbaiw de`usu``ri kb`esoi Gbih igihia ikbciw gisb hedia`ri ~wsiwejb hmz |sbne$nm~w heig es~ab| 

ri`j de`recicki` Gbih wbgik did|u dedcuiw b`mvi~b |smguk |edcegi !gbfese`~bi~b" u`wuk 

dede`uab aisi|i` km`~ude`.

Oi~mff cesu|iri dedcuiw gbfese`~bi~b |smguk Gbih ge`ji` de`nmci de`re`wua |i~is 

^icu` u`wuk kihi`ji` de`e`jia ke iwi~ ge`ji` de`jju`iki` desek hib` ~ehib` Gbih. @idu`

ek~|i`~b wes~ecuw wes`riwi jijih( kise`i cesiw`ri |es~ib`ji` gi` |e`izisi` |smguk |e~ib`j

ri`j hecba cibk. Wiau` 9222 ~icu` Gbih desm~mw gsi~wb~( |e`ouihi` ^icu` |sedbud`ri |u`

de`jihidb ~wij`i~b.

\igi wiau` 3<<<( Gbih kedcihb cesji`wb NEM rik`b Aescesw Ciud. ^wsiwejb ri`j

gbhikuki` Ciud igihia?

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$ Semsji`b~i~b |smguk Gbih( dehihub 5 oe`b~ |smguk rik`b |edces~ba |es~m`ih !~icu`

di`gb-~aid|m"( cucuk gewesoe`( |ezi`jb sui`ji`( |smguk diki`i`( gi` Gbih B`wes`iwbm`ih.

Gisb di~b`j$di~b`j hb`b |smguk gbce`wuk gbvb~b cesgi~iski` |smguk gi` gb|bd|b` mhea

~emsi`j |smguk di`ijes ge`ji` wuji~ gi` wisjew di~b`j$di~b`j.

$ Dehikuki` igveswb~b`j u`wuk de`b`jkiwki` csi`g   izise`e~~ gi` desiba dmde`wud gb

 |i~is.

$  O mb` ve`w use ge`ji` |esu~iaii` Ae`keh( gi` kedcihb ke ~wsiwejb hmz nm~w  ge`ji`

de`jae`wbki` cb~`b~ |smguk abja$e`g .

Km`gb~b Gbih de`oigb hecba cibk( ~id|ib ikabs`ri Gbih gbikub~b~b mhea Ae`keh iwi~

keb`jb`i` gisb Ciud ~e`gbsb |igi wiau` 3<<>( ge`ji` |se~wi~b kb`esoi Gbih ~iiw bwu de`jai~bhki`

 |smfbw '96 ouwi gb wiau` 3<<3. Ikub~b~b Gbih mhea Ae`keh gbhikuki` ge`ji` wuoui` ijis Gbih gb

 cizia `iu`ji` Ae`keh did|u de`jaigi|b |es~ib`ji` ge`ji` |esu~iaii`$|esu~iaii` |smguk 

km`~ude` ri`j hecba ce~is hib``ri ~e|eswb \&J( Zih Disw( U`bheves( gi` hib` hib`. ^ecihbk`ri

km`gb~b ikub~b~b Gbih b`b |u` de`ju`wu`jki` cijb Ae`keh( kise`i kb`esoi Gbih ri`j nuku| cibk 

dedcesb km`wsbcu~b ke`ibki` |e`gi|iwi` Ae`keh Nms|m ~id|ib 9>% gb wiau` 3<<5. \igi wiau`

3<<5 Ae`keh Gbih cesjicu`j ge`ji` Jbhhewe de`oigb |esu~iaii` |smguk km`~ude` wesce~is gb

gu`bi.

Ke~bd|uhi` gi` ^isi`\e`recic gisb kejijihi` Jseramu`g Nms|msiwbm` ~eoik izih igihia ikbciw cecesi|i aih?

$ Weshihu idcb~b`ri |esu~iaii` u`wuk dehikuki` gbves~bfbki~b gb cescijib cb~`b~ ri`j

wbgik ceskibwi` dedcesbki` se~bkm ri`j wb`jjb( wi`|i gbguku`j ge`ji` ki|icbhbwi~

~udces giri gi` di`ioesbih ri`j ~e~uib ge`ji` di~b`j$di~b`j wb|bkih b`gu~wsb`ri.

Gbves~bfbki~b ri`j wbgik ceskibwi` iki` dedeshuki` cbiri gi` ~udces giri ri`j hecba

wb`jjb( kise`i udud`ri dedcuwuaki` ~udcesgiri gi` keiahbi` wek`b~ ri`j cescegi.

$ Gbves~bfbki~b wi`|i |edb~iai` i`wisi cbiri gi` |e`gi|iwi` ri`j oehi~ i`wisi cescijib

gbvb~b de`recicki` |esu~iaii` ke~uhbwi` u`wuk de`jewiaub kb`esoi ~uiwu gbvb~b ~enisi

seih. \smfbw gi` wi`jju`j oizic cescijib gbvb~b ri`j gbhbaiw gihid |i`gi`ji` kinidiwi

kms|msiw iki` ded|es~uhbw de`jewiaub gbvb~b di`i ri`j dedbhbkb |mwe`~b di~ihia(

~eab`jji ded|es~uhbw wb`giki` |smikwbf kms|msiw u`wuk de`i`ji`b`ri. Km`gb~b b`b |u`

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iki` ded|es~uhbw |eswbdci`ji` kecboiki` b`ve~wi~b iwiu|u` kecboiki` ~wsiwejb~

 cesbkuw`ri ikbciw si`nu`ri evihui~b kb`esoi ~ewbi| u`bw cb~`b~-gbvb~b.

\escibki` kb`esoi Gbih Nms|msiwbm` wesoigb kise`i ~wsiwejb ri`j gbigm|~b de`u`oukki`

wb`giki` ri`j ~ecihbk`ri rik`b?

$ Gbih dehikuki` gbves~bfbki~b gisb |smguk ri`j ceskibwi` ~iwu ~idi hib`( ~eab`jji gi|iw

dehikuki` efb~be`~b cbiri gi` |sm~e~ kesoi dehihub |edi`fiiwi` ~udcesgiri ~enisi

  cescijb ! ~aisb`j ". Ai~bh`ri |u` iki` hecba cibk gi` efekwbf( kise`i |esu~iaii` wehia

dedbhbkb ki|icbhbwi~ gi` |e`jihidi` !eq|esbe`ne" ri`j sehevi` u`wuk |e`jedci`ji`

 cb~`b~ wes~ecuw.

$ Gbih dehikuki` |edb~iai` |e`bhibi` kb`esoi |es gbvb~b( ~eab`jji dugia u`wuk 

de`jevihui~b kb`esoi ~ewbi| gbvb~b( gi` ouji de`b`jkiwki` dmwbvi~b ~ewbi| gbvb~b kise`i

kb`esoi di~b`j$di~b`j gbvb~b de`oigb wsi`~|isi` gi` dugia gbwehu~usb cbhi igi

 |esdi~ihiai`.

$ Gbih de`rigisb |e`wb`j`ri iki` kedid|ui` fb`i`~bih gi` |ehecisi` oisb`ji`( ~eab`jji

ke|uwu~i` Gbih u`wuk cesjicu`j ~enisi amsb~m`wih ge`ji` Ae`keh ~edikb` ded|eskuiw

kedid|ui` Gbih u`wuk de`jaigi|b |es~ib`ji` ge`ji` guku`ji` fb`i`~bih gi` oisb`ji`

 cb~`b~ ri`j hecba ce~is.

^isi` ri`j gi|iw gbcesbki` igihia ciazi gihid de`e`wuki` ek~|i`~b ~uiwu kejbiwi` cb~`b~(

~ecibk`ri gbizihb ge`ji` ek~|i`~b cb~`b~ ri`j ceskibwi`( ~eab`jji gi|iw cescijb ~udces giri

gi` we`iji kesoi ri`j de`u`oi`j efb~be`~b gi` |sm~e~ |edcehioisi`. Cijb ~uiwu |esu~iaii` ri`j

wehia dehikuki` ek~|i`~b( diki ~wsiwejb evihui~b kb`esoi aisu~hia wes|b~ia u`wuk ~ewbi| gbvb~b(

~eab`jji hecba dugia de`e`wuki` kb`esoi( de`gewek~b di~ihia |esu~iaii` ri`j cesi~ih gisb

~uiwu gbvb~b gi` de`e`wuki` ~wsiwejb wb`gikhi`ouw`ri.