LANGUAGE ACROSS THE CURRICULUM.pdf

BHARATHIDASAN UNIVERSITY
TIRUCHIRAPPALLI – 620 024
CENTRE FOR DISTANCE EDUCATION
LANGUAGE ACROSS THE
CURRICULUM
B.Ed. I YEAR
(Copyright reserved) For Private Circulation only

Chairman
Dr.V.M.Muthukumar
Vice-Chancellor
Bharathidasan University
Tiruchirapplli-620 024
Vice-Chairman
Dr.C.Thiruchelvam
Registrar
Course Director
Dr. R. Babu Rajendran
Director i/c
Centre for Distance Education
Course Material Co-ordinator
Dr.K.Anandan
Professor & Head, Dept .of Education
Centre for Distance Education
Author
Dr.V.AMBEDKAR
Associate Professor
Education Wing-DDE
Annamalai University
The Syllabus adopted from 2015-16 onwards

!
###$%
###'%
()#*+#

!
#$%
' () # $%*#$%+

,
-

. /
, #-*..#
# 0 0 ( # 0 % #
1 2 0 3 2
04
, ..#-+#/*
# 0( 2 0
0 2 0
2 25 0

, *
1 5 0 7 0 8
0 3 9 0 0
: 0
2
, 1#+#2. 3-(#
# 2 2 2 2
2 0 0 4
0 ; $ 2
04 ;% 2 2
2 0 2 2 2
0
,1*+# 3
# 0 2
0 2 2 2
; $ 0 2 2
00 ; % 2
2 28 2 2 ;
2

,1 ..#(/
# 2 0
2 2

,1 4#..##*!#
# 2 2 2
2 2
0 0

-#*# / )

5**
$ =
/ 7 %

)

6
8 ?1*@+A * +BC 5 DA1
:
( E*@@.+: BC 5 DA1 :
( 9% %FA *@+: *.
+11
#
*@@+ # # *'
+1
5:38
( %F1 0# ?*@+ *'
+
11
( 04 % ;==0
7#7=(0$#

,QWURGXFWLRQ
2EMHFWLYHV
/DQJXDJH±0HDQLQJRQFHSW
'HILQLWLRQRI/DQJXDJH
1DWXUHRI/DQJXDJH
)XQFWLRQVRI/DQJXDJH
7KHRULHVRI/DQJXDJH/HDUQLQJ
/DQJXDJHLVDPHDQVRIFRPPXQLFDWLRQ
/DQJXDJHLVDUELWUDU
/DQJXDJHLVD6NLOO
/DQJXDJHLVD6RFLDO%HKDYLRXU
7HDFKLQJ/DQJXDJHDVD6NLOO5DWKHUWKDQD.QRZOHGJH6XEMHFW
5ROHRI/DQJXDJH$FURVVXUULFXOXP
%DUULHUVLQ8VLQJ/DQJXDJHDQG6WUDWHJLHVLQ2YHUFRPHWKHP
/HW8V6XP8S
8QLWHQG$FWLYLWLHV
$QVZHUWRKHFNRXU3URJUHVV
6XJJHVWHG5HDGLQJV

/DQJXDJHLVDIRUPDQGPHDQVRIFRPPXQLFDWLRQ,WLVLQWLPDWHOUHODWHGWRKXPDQEHLQJV
VLQFHLWLVWKHXQLYHUVDODQGH[FOXVLYHFKDUDFWHULVWLFRIPDQDORQH,WLVWKHSURGXFWRIWKHKXPDQ
PLQGDQGWKHYRFDODSSDUDWXVZKLFKWKHKXPDQEHLQJSRVVHVVHV,WLVWKHPRVWLPSRUWDQWWRROKH
KDVHYHUGHYLVHG,WLVWKHWRROZKLFKHQDEOHVKLPWRPDNHKLVOLYLQJEXLOGKLVKRPHDQGIDVKLRQ
KLVOLIH,WLVWKHLQVWUXPHQWZKLFKJLYHVRUGHUDQGRUJDQL]DWLRQWRKLVWKLQNLQJ

7KLVXQLWGHDOVZLWKWKHGHILQLWLRQQDWXUHFRQFHSWPHDQLQJIXQFWLRQVRIODQJXDJH ,W
DOVRFRQVLVWVRIWHDFKLQJODQJXDJHDVVNLOOUDWKHUWKDQNQRZOHGJHVXEMHFWWKHUROHRIODQJXDJH
DFURVVWKHFXUULFXOXPHWF
BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB

$IWHUOHDUQLQJWKLVXQLWRXZLOOEHDEOHWR

x DFTXLUHNQRZOHGJHRIWKHFRQFHSWPHDQLQJDQGIXQFWLRQVRIODQJXDJH
x XQGHUVWDQGWKHFRQFHSWPHDQLQJDQGIXQFWLRQVRIODQJXDJH
x GHYHORSLQWHUHVWLQNQRZLQJWKHIXQFWLRQVRIODQJXDJH
x GHYHORSSRVLWLYHDWWLWXGHWRZDUGVWHDFKLQJDQGOHDUQLQJRI(QJOLVK

!

/DQJXDJHOHDUQLQJLVEDVLFDOODKDELWIRUPDWLRQSURFHVVGXULQJZKLFKWKHOHDUQHUDFTXLUHV
QHZKDELWV0DQDORQHLQFUHDWLRQLVEHVWRZHGZLWKWKHSRZHURIXVLQJWKHODQJXDJH+HXVHVKLV
EUDLQIRUWKLQNLQJFODVVLILQJDQGQDPLQJREMHFWVDQGKLVRUJDQVRIVSHHFKIRUPDNLQJVRXQGV
VRXQGJURXSV ZRUGVDQGVHQWHQFHV /DQJXDJHKHOSVKLPWRH[SUHVVKLVIHHOLQJV DQGHPRWLRQV
WRZDUGVRWKHUVDQGPDNHVKLPPDLQWDLQUHODWLRQVKLSV
0RVWGHILQLWLRQVRIODQJXDJHVDWKDWLWLVDGLVWLQFWLYHKXPDQTXDOLWZKLFKH[SUHVVHV
LWVHOI WKURXJK D VVWHP RI DUELWUDU YRFDO VPEROV 7KH SRZHU RI ODQJXDJH KHOSV PDQ WR
LQIOXHQFH RWKHUV DQG IRUJHV VRFLDO FRQWDFWV DSDUW IURP HQDEOLQJ KLP WR EXLOG VXLWDEOH
PHFKDQLVPVIRUWKHJRYHUQDQFHRIDFRXQWU
0DQZKHUHHYHUKHOLYHVZKDWHYHUKHGRHVZKHWKHUKHLVSORXJKLQJKLVILHOGZRUNLQJDW
WKHDQYLORUWKHKDPPHUZKHWKHUKHLVLQDQRIILFHRUVLWWLQJDQGHQMRLQJDFXSRIWHDRUFRIIHH
LQDFDIHWHULDRUDWKLVKRPHZKHWKHUKHLVIOLQJZDONLQJUXQQLQJVZLPPLQJRUOLQJLQKLVEHG
URRPZLWKDERRNLQKLVKDQGIRUUHDGLQJ²LQDOOWKHVHDFWLYLWLHVKHXVHVWKHODQJXDJH/DQJXDJH
LVWKXVOLNHDSULVPZKLFKUHIOHFWVWKHPDQLIROGVKDGHVRIKXPDQODQJXDJHDQGDFWLYLW,QVKRUW
WKHVFRSHRIODQJXDJHLVDVZLGHDVKXPDQOLIHLWVHOI

##############################################################################
$
BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB
9DULRXVOLQJXLVWVLQYDULRXVZDVKDYHGHILQHGODQJXDJH$FFRUGLQJWR%'()*(+
³/DQJXDJH LV D VVWHP RI DUELWUDU YRFDO VPEROV E PHDQV RI ZKLFK D VRFLDO JURXS
FRPPXQLFDWHV´$V-HVSHUVRQSRLQWVRXW³/DQJXDJHLVWKHVHWRIKXPDQKDELWVWKHSXUSRVHRI
ZKLFKLVWRJLYHH[SUHVVLRQWRKXPDQWKRXJKWVDQGIHHOLQJVHVSHFLDOOWRLPSDUWWKHPWRRWKHU¶¶

,Q WKH ZRUGV RI *,(* (-. ³/DQJXDJH LV D SXUHO KXPDQ DQG QRQ LQVWLQFWLYH
PHWKRG RI FRPPXQLFDWLQJ LGHDV HPRWLRQV DQG GHVLUHV E PHDQV RI D VVWHP RI YROXQWDU
SURGXFHGVPEROV7KHVHVPEROVDUHLQWKHILUVWLQVWDQFHDXGLWRUDQGWKHVRFDOOHGRUJDQVRI
VSHHFKSURGXFHWKHP7KHUHLVQRGLVFHUQDEOHLQVWLQFWLYHEDVLVIRUKXPDQVSHHFKDVVXFK´7KHVH
GHILQLWLRQVJLYHDFOHDUXQGHUVWDQGLQJRIWKHQDWXUHRIWKHODQJXDJH

7KH ODQJXDJH DFWLYLW RI WKH LQGLYLGXDO LV GRPLQDWHG DQG SURVFULEHG E WKH ODQJXDJH
DFWLYLWRIWKHJURXSWRZKLFKKHEHORQJV,WVODQJXDJHEHFRPHVKLVODQJXDJH

'/0+11

1RWHVD :ULWHRXUDQVZHULQWKHVSDFHJLYHQEHORZ
E RPSDUHRXUDQVZHUVZLWKWKRVHJLYHQDWWKHHQGRIWKHXQLW

/DQJXDJHOHDUQLQJLVEDVLFDOODIRUPDWLRQSURFHVV
D QDWXUDOE XVXDOF KDELWG QRQHRIWKHDERYH

/DQJXDJHLVDVVWHPRIYRFDOVPEROV
D LGHDE DUELWUDUF GHVLUHVG IHHOLQJV

##########################################################
2
#########################################################

()+(+.1(314/DQJXDJHLVDVVWHP,WLVDQRUJDQL]HGZDRIEHKDYLRXUZKLFKFDQ
EHGHVFULEHGLQDQRUGHUOZDMXVWDVYDULRXVVVWHPVRIRXUERG HJ+HDUWOXQJVKDQGVHHV
HWF 7KRXJK GLIIHUHQW HW ZRUN LQ FRRUGLQDWLRQ VLPLODUO WKH VVWHP RI ODQJXDJH IXQFWLRQV
WKURXJK VRXQGV ZRUGV DQG VWUXFWXUHV 7KHVH DUH LQWHJUDWHG DQG IRUP WKH ODQJXDJH (DFK
ODQJXDJHLVDXQLTXHVVWHPZLWKWKHKHOSRIZKLFKPHDQLQJLVFRQYHHG7KLVVVWHPFRQVLVWVRI
VRXQGVVWUXFWXUHVDQGLWHPVRIYRFDEXODU7KDWLVZKZKHQ DSHUVRQ ZDQWVWROHDUQDQHZ
ODQJXDJHKHKDVWROHDUQQHZVRXQGVVWUXFWXUHVDQGQHZLWHPVRIYRFDEXODU

()+(+.1 5.(3,WLVQRWHVVHQWLDOWRKDYHDQUHODWLRQVKLSEHWZHHQWKHZRUGDQGWKH
REMHFW IRU ZKLFK LW LV VSRNHQ 2QH FDQ XVH GLIIHUHQW ZRUGV IRU WKH VDPH REMHFW LQ GLIIHUHQW
ODQJXDJHVHJ/LQ)+%.1'!1(+(4 %.)(4.%HWF

'345%16 ()+(+( (%7KHZRUGODQJXDJHKDVLWVRULJLQLQWKH/DWLQZRUG
³OLQJXD´ZKLFKPHDQV³:KLFKLVSURGXFHGZLWKWRQJXH´/DQJXDJHLVEDVLFDOOVSHHFK:ULWLQJ
LVWKHJUDSKLFDOUHSUHVHQWDWLRQRIVSHHFK0DQODQJXDJHVH[LVWRQOLQWKHVSRNHQIRUPWKHGR
QRWKDYHWKHZULWWHQIRUP

$ ()+(+ .1 ( 314 6 345%1 6PEROV RI D ODQJXDJH DUH LWV ZRUGV )RU EHWWHU
IXQFWLRQLQJ RI D ODQJXDJH LW LV HVVHQWLDO WKDWERWK VSHDNHU DQG OLVWHQHU NQRZ WKH ZRUGV (DFK
ZRUGKDVDGHILQLWHVRXQGDQGDGHILQLWHPHDQLQJ)RUFRPPXQLFDWLRQRILGHDVLWLVHVVHQWLDOWR
DWWDFKDPHDQLQJWRLWVVRXQG

2 ()+(+ .1 %,(31 '()+.)+ (YHU ODQJXDJH LV D OLYLQJ ODQJXDJH 7KH ODQJXDJH LV
FRQVWDQWO FKDQJLQJ DQG GHYHORSLQJ DFFRUGLQJ WR WKH QHHGV RI WKH VSHDNHU 1HZ ZRUGV DUH
ERUURZHGDQGDEVRUEHGLQDODQJXDJHIURPWLPHWRWLPH

7 ()+(+.1(*-68(5.1$SHUVRQ¶VODQJXDJHUHIOHFWVWKHKDELWVRIWKHFRPPXQLWWR
ZKLFK WKH SHUVRQ EHORQJV /DQJXDJH LV HVVHQWLDOO D KDELWIRUPLQJ SURFHVV 2QH FDQ
FRPPXQLFDWHRQH¶VWKRXJKWVRQOZKHQRQHKDVPDGHXVHRIWKHODQJXDJHWKHLQVWUXPHQWRI
WKRXJKW D PDWWHU RI DXWRPDWLF KDELW ZLWK KLP 7KXV ODQJXDJH LV PDGH XS RI KDELWV DQG WKLV
UHTXLUHVSUDFWLFHLQWKHXVHRIODQJXDJH

9 ()+(+.1 ()/DQJXDJHLVDVNLOO,WLVDIRUPRIEHKDYLRXUZKLFKLVOHDUQW$QHZERUQ
FKLOGNQRZVQRODQJXDJHH[FHSWFULQJDQGZHHSLQJ$VWLPHSDVVHVEWKHFKLOG¶VFULQJDQG
EDEEOLQJVRXQGVGHYHORSLQWRPHDQLQJIXOVSHHFKVRXQGVRIKLVJURXS+HOHDUQVWKHODQJXDJHE
OLVWHQLQJ WR WKH HOGHUV VSRNHQ DW KRPH DURXQG KLP +H OHDUQV WKH ODQJXDJH E LPLWDWLRQ DQG
SUDFWLFH

: ()+(+ .1 (1* ) 44) %(% ;-.) (YHU ODQJXDJH LV DSURGXFW RI D
SDUWLFXODUVRFLHWDQGFXOWXUH+XPDQODQJXDJHLVWUDQVPLWWHGIURPRQHSDUWLFXODULQGLYLGXDOWR
DQRWKHUQRWESKVLFDOLQKHULWDQFHEXWEOHDUQLQJ,WKDVPHDQLQJRQOLQDSDUWLFXODUFXOWXUH
DQG VRFLHW :H GR QRW ILQG H[DFWO VDPH ZRUGV LQ WZR GLIIHUHQW ODQJXDJHV 7KLV LV EHFDXVH
FXOWXUHVDUHGLIIHUHQW

()+(+.1644).(.)RPPXQLFDWLRQRIWKRXJKWVIURPRQHSHUVRQWRDQRWKHULV
WKHPDLQIXQFWLRQRIODQJXDJHRUUHFWFRPPXQLFDWLRQLQYROYHVFRUUHFWXVHRIODQJXDJH

= 3 %()+(+ .1 ).? (YHU ODQJXDJH LV XQLTXH LQ LWVHOI 1R WZR ODQJXDJHV LQ WKH
ZRUOG KDYH WKH VDPH VHW RI ZRUGV SKRQHWLF VPEROV DQG JUDPPDWLFDO SDWWHUQV 7KHUH DUH
JHRJUDSKLFDODQGFXOWXUDOGLYHUVLWLHVDQGEHFDXVHRIWKDWUHDVRQHYHUODQJXDJHLVXQLTXHLQLWV
RZQZD

'/0+11

LVWKHJUDSKLFDOUHSUHVHQWDWLRQRIVSHHFK
D /LVWHQLQJE 5HDGLQJF :ULWLQJG 2UDO

(YHULVDSURGXFWRIDSDUWLFXODUVRFLHWDQGFXOWXUH
D QDWLRQE FRXQWUF VWDWHG ODQJXDJH

7
###############################################################
7KHUHDUHWKUHHLPSRUWDQWIXQFWLRQVRIDODQJXDJH!.@!'.)64(.!';-11.
()*'*..
7KHILUVWLVWKH.)64(.6).)WKDWLVWKHSXUSRVHRIODQJXDJHLVWRFRPPXQLFDWH
LQIRUPDWLRQ 7KH VFLHQFH WHDFKHU ZKR LV JLYLQJ GHWDLOV RI ODZV RI JUDYLWDWLRQ WR WKH FODVV LV
FRPPXQLFDWLQJLQIRUPDWLRQ7KHVHFRQGIXQFWLRQRIODQJXDJHLV;-11.!WKDWLVWRH[SUHVV
IHHOLQJVHPRWLRQVRUDWWLWXGHVDQGHYRNHVLPLODUIHHOLQJVLQWKHUHDGHU
:+'DYLHVVDV
:KDWLVWKLVOLIHLIIXOORIFDUH
:HKDYHQRWLPHWRVWDQGDQGVWDUH
+HUHQRLQIRUPDWLRQLVFRQYHHGEXWWKHIHHOLQJVRIWKHLQGLYLGXDODUHH[SUHVVHG
7KHWKLUGIXQFWLRQRIODQJXDJHLV*..WKDWLVWRFDXVHRUWRSUHYHQWDFWLRQV
:KHQD0DMRULQWKHDUPDVNVKLVVROGLHUVWRPDUFKDKHDGRUZKHQDWHDFKHUDVNVDVWXGHQWWR
ZULWHVRPHWKLQJRQWKHEODFNERDUGWKHLQWHQWLRQLVQRWWRFRPPXQLFDWHLQIRUPDWLRQRUWRHYRNHD
SDUWLFXODUHPRWLRQEXWWRFDXVHDFWLRQRIWKHNLQGLQGLFDWHG

##############################################################################
9 8
#########################################################

/DQJXDJHH[HUFLVHVDJUHDWLQIOXHQFHLQPDNLQJPDQJRRGDQGQREOH,WODVWKHIRXQGDWLRQ
IRUWKHSURJUHVVRIVRFLHW7KHODQJXDJHRISHRSOHUHIOHFWVRQWKHLUFROOHFWLYHEHKDYLRUDQGFXOWXUH
,QWKHDEVHQFHRIODQJXDJHPRVWRIWKHDFWLYLWLHVZLOOVWRSDQGDOOWHDFKLQJDQGOHDUQLQJZLOOFRPHWR
DQHQG7KHSURJUHVVRIPDQNLQGZLOOFHDVH
/DQJXDJH LV D FRPSOH[ VVWHP ZLWK PDQ VXEVVWHPV OLNH WKH VVWHP RI VRXQG
3KRQRORJ WKH VVWHP RI ZRUGV 0RUSKRORJ WKH VVWHP RI VWUXFWXUH 6QWD[ DQG WKH
VVWHPRIPHDQLQJ 6HPDQWLFV $OOWKHVHVXEVVWHPVIRUPDQLQWHJUDOVVWHPZRUNLQJLQFR
RUGLQDWLRQZLWKWKHRWKHU/DQJXDJHODVGRZQVWDQGDUGVDQGIXQFWLRQVEUXOHVDQGFRQYHQWLRQV
OLNHDQRWKHUVVWHPLQOLIH,WLVWKURXJKODQJXDJHWKDWZHOHDUQWRWKLQNIHHOMXGJHDQGH[SUHVV
()+(+(-.*
/DQJXDJH DSWLWXGH UHIHUV WR WKH QDWXUDO DELOLW WR OHDUQ D ODQJXDJH QRW LQFOXGLQJ
LQWHOOLJHQFH PRWLYDWLRQ LQWHUHVW HWF /DQJXDJH DSWLWXGH LV WKRXJKW WR EH D FRPELQDWLRQ RI
YDULRXVDELOLWLHVVXFKDVWKHDELOLWWRLQGHQWLIVRXQGSDWWHUQVLQDQHZODQJXDJHWKHDELOLWWR
UHFRJQL]HWKHGLIIHUHQWJUDPPDWLFDOIXQFWLRQVRIZRUGVLQVHQWHQFHVURWHOHDUQLQJDELOLWDQGWKH
DELOLWWRLQIHUODQJXDJHUXOHV$SHUVRQZLWKKLJKODQJXDJHDSWLWXGHFDQOHDUQPRUHTXLFNODQG
HDVLOWKDQDSHUVRQZLWKORZODQJXDJHDSWLWXGHDOORWKHUIDFWRUVEHLQJHTXDO
()+(+(.*1
/DQJXDJH DWWLWXGHV DUH WKH DWWLWXGHV ZKLFK VSHDNHUV RI GLIIHUHQW ODQJXDJH RU ODQJXDJH
YDULHWLHV KDYH HDFK RWKHU¶V ODQJXDJH RU WR WKHLU RZQ ODQJXDJH ([SUHVVLRQV RI SRVLWLYH RU
QHJDWLYHIHHOLQJVWRZDUGVDODQJXDJHPDUHIOHFWLPSUHVVLRQVRIOLQJXLVWLFGLIILFXOWRUVLPSOLFLW
HDVHRUGLIILFXOWRIOHDUQLQJGHJUHHRILPSRUWDQFHHOHJDQFHVRFLDOVWDWXVHWF$WWLWXGHVWRZDUGVD
ODQJXDJH PD DOVR VKRZ ZKDW SHRSOH IHHO DERXW WKH VSHDNHUV RI WKDW ODQJXDJH /DQJXDJH
DWWLWXGHVPDKDYHDQHIIHFWRQVHFRQGODQJXDJHRUIRUHLJQODQJXDJHOHDUQLQJ7KHPHDVXUHPHQW
RIODQJXDJHDWWLWXGHVSURYLGHVLQIRUPDWLRQZKLFKLVXVHIXOLQODQJXDJHWHDFKLQJDQGODQJXDJH
SODQQLQJ
9 ()+(+.1(4()1644).(.)

/DQJXDJH LV SULPDULO D PHDQV RI FRPPXQLFDWLRQ 7KH VLJQDOV XVHG WR WUDQVPLW
WHOHJUDSKLF PHVVDJHV HWF DUH DOO FRPPXQLFDWLRQ VVWHPV DQG WKH DUH LQWHUSUHWHG LQ
ODQJXDJH/DQJXDJHLVXVHGEKXPDQEHLQJVWRFRPPXQLFDWHLGHDVWRWUDQVPLWPHVVDJHV
DQGWRH[SUHVVHPRWLRQVGHVLUHVDQGIHHOLQJV
7KHUHDUHYDULRXVWSHVRIFRPPXQLFDWLRQQHHGVWKDWODQJXDJHVPHHWZLWK:HQRW
RQOFRQYHLQIRUPDWLRQWKURXJKODQJXDJHEXW DOVRXVHLW HIIHFWLYHOIRUZKDWLVNQRZQ DV
SKDWLFFRPPXQLRQ DWSHRIVSHHFKZKHUHLQWLHVRIXQLRQDUHFUHDWHGEDPHUHH[FKDQJHRI
ZRUGV 7KLV UHIHUVWR WKDW DVSHFWRIRXU VSHHFKEHKDYLRUZKLFK FRQVLVWV PDLQO RISROLWHWDON
JUHHWLQJVDQGVXFKH[FKDQJHRIZRUGVDV +RZGRRXGR +DYHDQLFHGD HWFZKLFKVHUYH
WRHVWDEOLVKDQGFRQILUPVRFLDOUHODWLRQVKLSV6RPHVFKRODUVJREHRQGDQGVDWKDWHYHQRXU
WKLQNLQJKDVEHFRPHSRVVLEOHRQOEHFDXVHRIODQJXDJH)XUWKHULWLVFODLPHGEVRPHOLQJXLVWV
WKDWRXUYLHZRIWKHZRUOGLVODUJHOFRQGLWLRQHGEODQJXDJH
9 ()+(+.1 5.(3
,QJHQHUDOWKHUHLVQRQHHGWRKDYHDQLQKHUHQWUHODWLRQEHWZHHQWKHVRXQGVWKDWPDNH
XSDZRUGDQGWKHREMHFWVLJQLILQJWKHZRUG7KDWLVWRVDWKHUHODWLRQEHWZHHQWKHZRUGDQG
WKHWKLQJRULGHDFRQYHHGELWLQDOOODQJXDJHVLVHQWLUHODUELWUDU7KHUHLVQRUHDVRQZK
WKH IRXUOHJJHG GRPHVWLF DQLPDO VKRXOG EH FDOOHG FDW LQ (QJOLVK ELOOL LQ +LQGL SLOOL LQ
7HOXJX SRRFKD LQ0DODDODPDQGVRRQ7KHXVHRIWKHVHSDUWLFXODUZRUGVXVHGGLIIHUHQWO
LQGLIIHUHQWODQJXDJHVLVPHUHODFFLGHQWDO
,IWKHUHZHUHDFRQQHFWLRQEHWZHHQWKHVRXQGVXVHGDQGWKHPHDQLQJH[SUHVVHGEWKHP
WKHQWKHUHZRXOGKDYHEHHQMXVWRQHODQJXDJHLQWKHZRUOG7KHH[LVWHQFHRIVHYHUDOODQJXDJHV
LQWKHZRUOGFOHDUOLQGLFDWHVWKDW ODQJXDJHLVDUELWUDU
9 ()+(+.1(/.%%
/DQJXDJHLVDVNLOOWKDWLVOHDUQWEFRQVWDQWSUDFWLFH/DQJXDJHFDQEHOHDUQWQRWE
NQRZLQJDERXWLWEXWEXVLQJLW-XVWDVRWKHUVNLOOVOLNHVZLPPLQJGULYLQJVLQJLQJRUGDQFLQJ
WKDW DUH OHDUQW E SUDFWLFH D ODQJXDJH LV DOVR OHDUQW E FRQVWDQW XVH ,W LV DFTXLUHG ILUVW E
LPLWDWLRQDQGWKHQESUDFWLFH
/DQJXDJHLVRIWHQFDOOHGDVNLOOVXEMHFWUDWKHUWKDQDNQRZOHGJHVXEMHFW ,QOHDUQLQJD
PRWKHUWRQJXHWKHILUVWVNLOOWKDWDFKLOGDFTXLUHVLVWKHDELOLWWRXQGHUVWDQGWKHVSRNHQZRUGLH
WKHVNLOORIOLVWHQLQJ1H[WKHWULHVWRUHSURGXFHWKHVHVRXQGVHTXHQFHVWH[SUHVVKLVRZQGHVLUHV

DQGQHHGVDQGWKHUHEDFTXLUHVWKHVNLOORIVSHDNLQJ)RUDQLOOLWHUDWHSHUVRQWKHVHWZREDVLF
VNLOOV FRQVWLWXWH KLV ODQJXDJH DELOLW 7KH DELOLWLHV WR UHDG DQG ZULWH DUH PDWWHUV RI OLWHUDF
/DQJXDJHLVWKHUHIRUHFDOOHGDFRPSOH[VNLOOFRPSULVLQJ
D 6NLOORI/LVWHQLQJ
E 6NLOORI6SHDNLQJ
F 6NLOORI5HDGLQJ
G 6NLOORI:ULWLQJ
7KHVNLOOVRIOLVWHQLQJDQGUHDGLQJDUHFDOOHG5HFHSWLYHVNLOOVEHFDXVHWKHVNLOOVRIOLVWHQLQJ
DQG UHDGLQJ DUH FRPSDUDWLYHO SDVVLYH UHTXLULQJ OHVV H[HUWLRQ RQ WKH SDUW RI WKH OHDUQHU 7KH
SHUVRQZKLOHOLVWHQLQJRUUHDGLQJLVDWWKHUHFHLYLQJHQGRIWKHFRPPXQLFDWLRQFKDQQHO6SHDNLQJ
DQGZULWLQJRQWKHRWKHUKDQGDUHDFWLYHVNLOOV+HUHWKHSHUVRQEHLQJDWWKHWUDQVPLWWLQJHQGRI
WKHFKDQQHOKDVWRWDNHWKHLQLWLDWLYH7KHVHWZRDUHFDOOHG3URGXFWLYH6NLOOV
7KHVNLOOVFDQDOVREHJURXSHGLQDQRWKHUPDQQHU/LVWHQLQJDQGVSHDNLQJZKLFKGHPDQG
WKHH[HUFLVHRIWKHDXGLWRUVSHHFKRUJDQVPDEHFDOOHG$XUDO2UDOVNLOOVZKLOHUHDGLQJDQG
ZULWLQJLQYROYLQJWKHYLVXDODQGWKHSVFKRPRWRURUJDQVPDEHFDOOHG*UDSKLF0RWRU6NLOOV
9$ ()+(+.1(.(%'(.
,WKDVEHHQSRLQWHGRXWHDUOLHULQWKLVVHFWLRQWKDWODQJXDJHLVDVRFLDOFRQYHQWLRQDQGLV
OHDUQWEHDFKJHQHUDWLRQIURPWKHDGXOWVLQWKHSDUWLFXODUVRFLDOFRPPXQLW:HDUHQRWERUQZLWK
DQLQVWLQFWWROHDUQKLQHVH5XVVLDQRU%HQJDOL$%HQJDOLFKLOGEURXJKWXSLQD%HQJDOLIDPLO
OHDUQV%HQJDOLEXWLIWKHVDPHFKLOGZHUHWREHEURXJKWXSLQD.RUHDQIDPLOLQVWHDGKHZRXOG
OHDUQ.RUHDQYHU HDVLO-XVWDVZHOHDUQQRUPVRIVRFLDOEHKDYLRXUZDVRI JUHHWLQJWDEOH
PDQQHUVHWFRIWKHVRFLHWLQZKLFKZHJURZXSZHDOVROHDUQLWVODQJXDJHLQDVLPLODUPDQQHU

'/0+11

DSWLWXGHUHIHUVWRWKHQDWXUDODELOLWWROHDUQDODQJXDJH
D /LVWHQLQJE /DQJXDJHF :ULWLQJG 2UDO

7KHVNLOOVRIOLVWHQLQJDQGUHDGLQJDUHFDOOHGVNLOOV
D 5HFHSWLYHE RXQWUF 3URGXFWLYHG /DQJXDJH

#############################################################################
: 8 A 8 8
A B
##########################################################

6FKRROVXEMHFWVDUHFODVVLILHGDVNQRZOHGJHVXEMHFWVDQGVNLOOVXEMHFWV,WLVNQRZLQJDQG
GRLQJ6XEMHFWVOLNH6FLHQFH+LVWRUDQG0DWKHPDWLFVDUHNQRZOHGJHVXEMHFWV7KHKDYHDQ
RUJDQL]HGERGRIIDFWVDQGWKHKDYHWREHJUDVSHGDQGPHPRUL]HG1DWXUDOOWKHPHWKRGRORJ
LQVLVWV RQ DQ LQWHOOHFWXDO DFWLYLW DQG URWH PHPRU LV JLYHQSURPLQHQFH ,Q VNLOO VXEMHFWV OLNH
ODQJXDJHGUDZLQJSDLQWLQJPXVLFWKHUHLVDQHHGIRUGHYHORSPHQWRIFHUWDLQDELOLWLHV3UDFWLFH
PDNHV LW SHUIHFW DQG IRFXVHV KDELWIRUPDWLRQ 7KH DELOLWLHV WR UHDG DQG ZULWH DUH PDWWHUV RI
OLWHUDF(DFKVNLOOFRPSULVHVRIYDULRXVHOHPHQWV+HQFHODQJXDJHLVFDOOHGDµFRPSOH[VNLOO¶
FRQVLVWLQJRIWKH1/.%%6%.1).)+WKH1/.%%61-(/.)+WKH1/.%%6(*.)+DQGWKH1/.%%6
,..)+

7KHVH VNLOOV DUH FODVVLILHG DV SDVVLYH VNLOO DQG DFWLYH VNLOOV /LVWHQLQJ DQG UHDGLQJ DUH
SDVVLYHVNLOOVDQGVSHDNLQJDQGZULWLQJDUHDFWLYHVNLOOV7KHDUHUHFHSWLYHVNLOOVDQGSURGXFWLYH

VNLOOV/LVWHQLQJDQGVSHDNLQJGHPDQGLQJWKHH[HUFLVHRIWKHDXGLWRUDQGWKHVSHHFKRUJDQVPD
EHFDOOHG$XUDORUDOVNLOOV5HDGLQJDQGZULWLQJDUHFDOOHG*UDSKLF0RWRUVNLOOV/DQJXDJHLVDQ
LQWHJUDWHG VNLOO 7KH VNLOOV FDQQRW EH FRPSDUWPHQWDOL]HG 7KH EDVLF SUREOHP LQ OHDUQLQJ D
ODQJXDJHLVRQHRULQWHUQDOL]LQJWKHODQJXDJHFRGH7KHPHWKRGRORJLQYROYHVQRWOHDUQLQJDERXW
ODQJXDJHEXWOHDUQLQJWKHODQJXDJH7KHOHDUQHUKDVHLWKHUWRHQFRGHRUGHFRGHWKHVRXQGVZRUGV
DQG WKH VWUXFWXUHV QHHGHG WR H[SUHVV RU WR JUDVS WKH WKRXJKWV +H LV WR PDQLSXODWH RU WR
FRPPXQLFDWH WKURXJK YDULRXV DFWLYLWLHV 7KH OHDUQLQJ RI WKH ODQJXDJH FRGH ZLOO IDFLOLWDWH WKH
OHDUQLQJRIWKHVNLOOV
########################################################

##########################################################

/DQJXDJHOHDUQLQJLVDPDWWHURIJURZWKDQGPDWXUDWLRQRIUHODWLYHOIL[HGFDSDFLWLHVXQGHU
DSSURSULDWH H[WHUQDO FRQGLWLRQV /DQJXDJH LV QHYHU WDXJKW EXW FDXJKW IURP HQYLURQPHQW LI E
WHDFKLQJZHPHDQFUHDWLQJDSSURSULDWHH[WHUQDOFRQGLWLRQVIRUWKHOHDUQLQJRIDODQJXDJHZHGR
µWHDFK¶DODQJXDJH
,QWKHKDQGVRIDJRRGWHDFKHUWHDFKLQJRIDQODQJXDJHLVDYHULQWHUHVWLQJDFWLYLW$Q
HIIHFWLYHWHDFKHULVDEOHWRSXWOLIHLQWKHWHDFKLQJOHDUQLQJSURJUDPPH(YHUJRRGWHDFKHUIL[HV
XS DLPV RI WHDFKLQJ OHDUQLQJ 7KHQ KHVKH PDNHV DOO HIIRUWV WR DFKLHYH WKRVH JRDOV 6XFK D
WHDFKHU GRHV QRW KHVLWDWH LQ UHWKLQNLQJ UHIUDPLQJ RU UHZULWLQJ WKH JRDOV $QG DERYH DOO WKH
HIIHFWLYHWHDFKHUIROORZVWKHJHQHUDOSULQFLSOHVRIWHDFKLQJOHDUQLQJWKHODQJXDJH7KHGLIIHUHQW
SULQFLSOHVDQGDLPVRIWHDFKLQJNHHSWKHWHDFKHURQWKHULJKWWUDFN
7KHVHFRQGODQJXDJHLVOHDUQWGHOLEHUDWHOXVXDOOLQIRUPDOFODVVURRPWHDFKLQJ6RWKH
FODVVURRPDFWLYLWLHVPXVWSURYLGHVXIILFLHQWPRWLYDWLRQDQGVFRSHIRUOHDUQLQJWKHODQJXDJHZLWK
HPSKDVLVRQSUDFWLFH7KHWHDFKHUPXVWJLYHKLVSXSLOVDVPXFKRSSRUWXQLWDVSRVVLEOHIRUWKH
FRUUHFWSUDFWLFHRIODQJXDJHVNLOOVDQGDVOLWWOHRSSRUWXQLWDVSRVVLEOHWRPDNHPLVWDNHV
BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB
=
8
#########################################################

7KH ILUVW SUREOHP IRU DQ (QJOLVK ODQJXDJH WHDFKHU LV WR PDNH D GLVWLQFWLRQ EHWZHHQ
WHOOLQJ WHDFKLQJ DQG OHDUQLQJ ,Q WKH LQLWLDO VWDJH RI ODQJXDJH WHDFKLQJ OHDUQLQJ WDNHV SODFH
WKRXJKH[SRVXUHWRODQJXDJHSKRQRORJLFDOJUDPPDWLFDODQGOH[LFDOLWHPVDUHWROGEWKHWHDFKHU
WRWKHVWXGHQWV7KHWHDFKHUJLYHVRSSRUWXQLWLHVIRUSUDFWLFH6RWKDWWKHERVOHDUQFRUUHFWZRUGV
FRUUHFWSURQXQFLDWLRQDQGFRUUHFWVWUXFWXUH1H[WFRPHVWKHSUREOHPRIOLVWLQJWKHQHZLWHPVWKDW
VKRXOGEHOHDUQWLQ(QJOLVKOHVVRQV0DQWHDFKHUVGHSHQGXSRQVRPHWH[WERRNZULWHV,WLVDW
WKLV VWDJH WKDW WKH VWXGHQWV PXVW KDYH D JUHDW GHDO RI SUDFWLFH LQ WHDFKLQJ DQG ZULWLQJ
8QIRUWXQDWHOQRWDOOVWXGHQWVKDYHWKLVRSSRUWXQLWWRSUDFWLFHVSHDNLQJDQGZULWLQJLQ(QJOLVK

(QJOLVKPHGLXPVWXGHQWVFXOWLYDWHDODUJHUDPRXQWRIYRFDEXODUFRQWUROWKDQWKHQRQ
(QJOLVKPHGLXPVWXGHQWV1DWXUDOOWKH(QJOLVKWHDFKHULVFRQIURQWHGZLWKPDQSUREOHPV6XFK
DV VHOHFWLRQ RI PRGHOV VHOHFWLRQ RI WHDFKLQJ LWHPV HWF 7KHUH SUREOHPV DUH SXUHO SUREOHPV
FRQQHFWHGZLWKWHDFKLQJV7KHWKLUGSUREOHPLVRQHRIDVFHUWDLQLQJZKHWKHUWKHVWXGHQWVGRQRW
GLUHFWOSDUWLFLSDWHLQWKHOHDUQLQJSURFHVV8VXDOOWKHDUHSDLQHGWRDQVZHUVSHFLILFTXHVWLRQLQ
DQ H[DPLQDWLRQ 0RUHRYHU WKH (QJOLVK WKDW WKH VWXGHQWV OHDUQ LQ WKH FODVV URRP LV H[SRVLWRU
VSRNHQ (QJOLVK +H QHYHU OHDUQV RUGLQDU FDVXDO FRQYHUVDWLRQ 2QH RI WKH SUREOHPV RI WKH
(QJOLVKWHDFKLQJLVWRSURYLGHDWOHDVWVRPHH[SRVXUHWRWKHOHDUQLQJRIRUGLQDUFRQYHUVDWLRQDO
(QJOLVK

'/0+11

OHDUQLQJ LV D PDWWHU RI JURZWK DQG PDWXUDWLRQ RI UHODWLYHO IL[HG FDSDFLWLHV
XQGHUDSSURSULDWHH[WHUQDOFRQGLWLRQV
D /LVWHQLQJE /DQJXDJHF :ULWLQJG 2UDO

(YHUJRRGWHDFKHUIL[HVXSRIWHDFKLQJOHDUQLQJ
D 5HFHSWLYHE RXQWUF DLPVG ODQG

##################################################################

################################################################
2QHRIWKHJUHDWHVWDFKLHYHPHQWVRIPDQLVKLVDELOLWWRXVHODQJXDJH/DQJXDJHLQIDFWLVDJUHDW
WRROWKDWKDVPDGHKXPDQFLYLOL]DWLRQSRVVLEOHRQWKLVHDUWK/DQJXDJHLVDVVWHPRIDUELWUDU
YRFDOVPEROVEPHDQVRIZKLFKDVRFLDOJURXSFRPPXQLFDWHV/DQJXDJHLVVSHFLHVVSHFLILF,W
LV D XQLTXH KXPDQ WUDLW VKDUHG E WKH FXOWXUHV VR GLYHUVH DQG E LQGLYLGXDOV SKVLFDOO DQG
PHQWDOOVRXQOLNHRQHDQRWKHU/DQJXDJHLVDVVWHP7KLVVVWHPFRQVLVWVRIVRXQGVVWUXFWXUHV
DQGLWHPVRIYRFDEXODU /DQJXDJHLVOHDUQWDQGLVDVNLOO,WLVDIRUPRIEHKDYLRUZKLFKLV
OHDUQW+HOHDUQVWKHODQJXDJHELPLWDWLRQDQGSUDFWLFH7KH6PEROVRI/DQJXDJHDUH9RFDO
DQGODQJXDJHLVEDVLFDOOVSHHFK:ULWLQJLVWKHJUDSKLFDOUHSUHVHQWDWLRQRIVSHHFK/DQJXDJHLV
DOZDVFKDQJLQJ7KHODQJXDJHLVFRQVWDQWOFKDQJLQJDQGGHYHORSLQJDFFRUGLQJWRWKHQHHGVRI
WKHVSHDNHU/DQJXDJHLVPDGHXSRIKDELWV/DQJXDJHLVHVVHQWLDOODKDELWIRUPLQJSURFHVV
7KXVODQJXDJHLVPDGHXSRIKDELWVDQGWKLVUHTXLUHVSUDFWLFHLQWKHXVHRIODQJXDJH/DQJXDJHLV
DUELWUDU/DQJXDJHLVEDVHGRQFRPPRQFXOWXUDOH[SHULHQFHDQGHYHUODQJXDJHLVDSURGXFWRI
DSDUWLFXODUVRFLHWDQGFXOWXUH/DQJXDJHLVIRUFRPPXQLFDWLRQDQGFRPPXQLFDWLRQRIWKRXJKWV
IURPRQHSHUVRQWRDQRWKHULVWKHPDLQIXQFWLRQRIODQJXDJH(YHUODQJXDJHLVXQLTXH0HWKRGV
RIODQJXDJHOHDQLQJDUHESUDFWLFHWKURXJKVSHHFKOHDUQWDVD6VWHPDQGLQWKHFRQWH[WRI
FXOWXUH7KHUHDUHWKUHHLPSRUWDQWIXQFWLRQVRIDODQJXDJHYL]WKHLQIRUPDWLYHWKHH[SUHVVLYH
DQGWKHGLUHFWLYH

################################################################
'HILQHODQJXDJH'HVFULEHLWVQDWXUHDQGVFRSH
RQVLGHUODQJXDJHDVVNLOO
([SODLQWKHDUELWUDULQHVVRIDODQJXDJH
'LVFXVVWKHIXQFWLRQVRIODQJXDJH
(QOLVWWKHPHWKRGVRIODQJXDJHDFTXLVLWLRQ
([SODLQWKHQDWXUHDQGVFRSHRIODQJXDJH

BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB
B8A0
##########################################################

F
E
F
G
E
D
E
F

##############################################################################
$ C A
##############################################################################

$PEHGNDU9 7HDFKLQJRI(QJOLVKLQ,QGLDQRQWH[W$QQDYHHUD3XEOLVKHUV2UDWKDQDG
7KDQMDYXU,QGLD
%DUXDK7 7KH(QJOLVK7HDFKHU¶V+DQGERRN6WHUOLQJ3XEOLVKHUV1HZ'HOKL
'DVK%1 7HDFKLQJRI(QJOLVK'RPLQDQW3XEOLVKHUV1HZ'HOKL
'RII$GULDQ 7HDFK(QJOLVK$7UDLQLQJRXUVHIRU7HDFKHUV83DPEULGJH
+RZDWW$35 $+LVWRURI7HDFKLQJ(QJOLVK/DQJXDJH7HDFKLQJ2831HZ'HOKL

0

,QWURGXFWLRQ
2EMHFWLYHV
/HDUQLQJRIDVHFRQGODQJXDJH±,QIOXHQFHRI0RWKHUWRQJXH
/HDUQLQJ0RWKHU7RQJXHDQGWKH6LJQLILFDQFHRIWKH)LUVW/DQJXDJH
6LJQLILFDQFHRI7HDFKLQJ7KH6HFRQG/DQJXDJH
8VLQJ)LUVWDQG6HFRQG/DQJXDJHLQWKHODVVURRP
7UL/DQJXDJH6VWHP
0XOWLOLQJXDOLVP
5HODWLRQRI/DQJXDJHZLWKXOWXUH
/HW8V6XP8S
8QLWHQG$FWLYLWLHV
6XJJHVWHG5HDGLQJV
BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB

##########################################################

$OWKRXJK(QJOLVKLVDIRUHLJQODQJXDJHIRU,QGLDQHWLWVWHDFKLQJRFFXSLHVDYHULPSRUWDQW
SODFHLQRXUHGXFDWLRQDOVHWXS7KHOHDUQLQJRI PRWKHUWRQJXHLVLQYDULDEOHDQGHVVHQWLDOEXWWKH
WHDFKLQJ(QJOLVKLVDOVRFRQVLGHUHGXVHIXO7KHVHDUHHGXFDWLRQLVWVZKRDGYRFDWHWKHFRQVWDQWXVHRI
PRWKHUWRQJXHLQWKHWHDFKLQJDQG(QJOLVK7KHKROGWKDWµWKHPRWKHUWRQJXHLVDVQDWLRQDOIRUWKH
GHYHORSPHQWDQGWKHPDQVPLQGDVPRWKHUVPLONLVIRUWKHGHYHORSPHQWRIWKHLQIDQWLVERG0RWKHU
WRQJXHLVWKHEDVLVRIDOOZRUN7KHFKLOGEHJLQWROHDUQQHZZRUGWKHUHXVHLQWKHSURSHUFRQWH[WDQG
WKLVDFTXLUHVDQDELOLWRIH[SUHVVLRQZLWKFODULWHDVHDQGFRUUHFWQHVV

##########################################################

$IWHUUHDGLQJWKHOHVVRQRXZLOOEHDEOHWR
x NQRZWKHUROHDQGPRWKHUWRQJXHLQOHDUQLQJRIVHFRQGODQJXDJH
x XQGHUVWDQGLQZKDWZDWKHPRWKHUWRQJXHLQIOXHQFHWKHOHDUQLQJRIWKHVHFRQGODQJXDJH
x LGHQWLIWKHLQWHUIHUHQFHVRIPRWKHUWRQJXHLQOHDUQLQJDVHFRQGODQJXDJH
x VWDWHWKHVLJQLILFDQFHRIWHDFKLQJWKHVHFRQGODQJXDJH
x XQGHUVWDQGWKHWULOLQJXDOVVWHP
x GHVFULEHWKHUHODWLRQRIODQJXDJHZLWKFXOWXUH
BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB
D
8
##########################################################

/HDUQLQJDVHFRQGODQJXDJHLVLQVRPHPHDVXUHUHSHDWLQJDQROGH[SHULHQFH$OHDUQHUZKR
KDVOHDUQWRQHODQJXDJHNQRZVDORWDERXWKXPDQODQJXDJH7KHGLIIHUHQFHPDRFFXULQDQ
IHDWXUHRIWKHODQJXDJH±VRXQGVZRUGVRUVWUXFWXUHV
().)+4')+()*'1.+).6.()6'6.1%()+(+

$V IRU DV WKH OHDUQLQJ RI WKH PRWKHU WRQJXH LV FRQFHUQHG ZH KDYH PDQ KHOSIXO DQG
VXLWDEOHSRLQWVZKLFKFRPHWRKHOSXV7KHUHDUHPLVVLQJLQWKHOHDUQLQJRIWKHRWKHUWRQJXH/HW
XVHQXPHUDWHDIHZRIWKHVHSRLQWV
L :KHQZHOHDUQWKHPRWKHUWRQJXHLWLVDQDWXUDOSURFHVV7KHUHLVQRKLQGUDQFHLQ
LWV OHDUQLQJ :KLOH IRU WKH RWKHU RU IRUHLJQ ODQJXH(QJOLVK LW LV DQ DUWLILFLDO
SURFHVV
LL :HDUHKHOSHGEPHPEHUVRIWKHIDPLOIULHQGVWHDFKHUVVRFLDOIXQFWLRQDULHV
DQG RQH DQG DOO LQ RXU OHDUQLQJ WKH PRWKHU WRQJXH 7KLV LV QRWSRVVLEOH LQ WKH

OHDUQLQJRIWKHRWKHUWRQJXH(QJOLVK
LLL $OHDUQHULVVXUURXQGHGIURPDOOVLGHVEWKHPRWKHUWRQJXH:KLOHLQOHDUQLQJ
(QJOLVKWKLVLVQRWWKHHDVH
/DQJXDJH OHDUQLQJ LV D PDWWHU RI JURZWK DQG PDWXUDWLRQ RI UHODWLYHO IL[HG
FDSDFLWLHVXQGHUDSSURSULDWHFRQGLWLRQV$VIRUDVPRWKHUWRQJXHLVFRQFHUQHGWKHUHLVD
QDWXUDOELRORJLFDOQHHGWROHDUQDQGWKHUHLVDOVRWKHVRFLDOFRPSXOVLRQWROHDUQLW7KH
FKLOGJHWVVXIILFLHQWVFRSHIRUSUDFWLFHLQKLVGDLOHQYLURQPHQW(YHURQHZLWKZKRPKH
FRPHVLQWRFRQWDFWLVKLVGDWRGDOLIHLVKLVWHDFKHUDQGPRGHOIRULPLWDWLRQ7KHFKLOG
SUDFWLFHVWKHODQJXDJH ZLWKRXWEHLQJFRQVFLRXVRIWKHIDFWWKDWKHLVOHDUQLQJ DKLJKO
FRPSOH[FRGH
##################################################
$ 8 8

2I DOO WKH ODQJXDJHV LQ WKH ZRUOG WRGD (QJOLVK GHVHUYHV WR EH UHJDUGHG DV D ZRUOG
ODQJXDJH ,W LV WKH ZRUOG¶V PRVW ZLGHO VSRNHQ ODQJXDJH LW LV WKH FRPPRQ PHDQV RI
FRPPXQLFDWLRQEHWZHHQWKHSHRSOHVRIGLIIHUHQWQDWLRQV2QHSHUVRQRXWRIHYHUIRXURQHDUWK
FDQEHUHDFKHGWKURXJK(QJOLVK
,QFRXQWULHVOLNH,QGLD3DNLVWDQ6LQJDSRUH6ULODQND1LJHULD]HPELDHWF(QJOLVKLVVWLOO
XVHG ,Q ,QGLD IRU LQVWDQFH (QJOLVK FRQWLQXHV WR EH WKH ODQJXDJH RI DGPLQLVWUDWLRQ 7KH
LPSRUWDQFHRI(QJOLVKKDVEHHQIXOOUHDOL]HGEWKHDGPLQLVWUDWRUVDQGHGXFDWLRQLVWVRI,QGLD
1RWRQOKDV(QJOLVKHQULFKHGWKHODQJXDJHVRIWKHVHFRXQWULHVEXWLWKDVDOVROHQWLWVHOIWREHWKH
PHGLXPRIFUHDWLYHH[SUHVVLRQIRUVRPHRIWKHZULWHUVRIWKHVHFRXQWULHV
$ YHU LPSRUWDQFH UHDVRQ IRU UHJDUGLQJ (QJOLVK DV D ZRUOG ODQJXDJH LV WKDW WKH ZRUOG¶V
NQRZOHGJHLVHQVKULQHGLQ(QJOLVK,WLVNQRZOHGJHRI(QJOLVKWKDWKHOSVWKHVHFRXQWULHVPDLQWDLQ
WKHKLJKOHYHORIWKHLULQWHOOHFWXDODQGVFLHQWLILFWUDLQLQJDQGDFKLHYHPHQW

'/0+11


/HDUQLQJDVHFRQGODQJXDJHLVLQVRPHPHDVXUHUHSHDWLQJDQROGH[SHULHQFH
D QDWXUDOE XVXDOF ROGG QRQHRIWKHDERYH

7KH LPSRUWDQFH RI BBBBBBBBBBBB KDV EHHQ IXOO UHDOL]HG E WKH DGPLQLVWUDWRUV DQG
HGXFDWLRQLVWVRI,QGLD
D LGHDE (QJOLVKF GHVLUHVG ODQJXDJH

2 8

#######################################################
,QFDVHRIVHFRQGODQJXDJHWKHFKLOGKDVWROHDUQLWGHOLEHUDWHOXVXDOOLQWKHIRUPDOFODVV
URRP VLWXDWLRQ 7KH HQYLURQPHQW LV QRW FRQWULEXWLYH WR KLP OHDUQLQJ RI VHFRQG ODQJXDJH
1HFHVVDUWKHFODVVURRPDFWLYLWLHVDQGWKHODQJXDJHPDWHULDOSUHVHQWHG IRUSUDFWLFHDUHWREH
FDUHIXOOVHOHFWHGWRKLJKOLJKWWKHUHJXODULWLHVRIWKHODQJXDJHWRHQDEOHWKHOHDUQHUWRIRUPKLV
RZQDGKRFUXOHV
7KHPRWKHUWRQJXHLQIOXHQFHVWKHSXSLOVOHDUQLQJRIDVHFRQGODQJXDJHLQPDQZDV7KH
SXSLO¶VDELOLWLQWKHILUVWODQJXDJHDQGH[SHULHQFHLQWKHXVHRIWKHODQJXDJHVNLOOVRIWKHPRWKHU
WRQJXHLQIOXHQFHOHDUQLQJRIWKHVHFRQGODQJXDJH+HLVDEOHWRWUDQVIHUWKHVNLOOVWRWKHOHDUQLQJRI
VHFRQGODQJXDJH+HKDVWRHVFDSHIURPWKHSXOORIWKHPRWKHUWRQJXH7KHSRVLWLYHWUDQVIHURIWKH

H[SHULHQFHVIDFLOLWDWHVWKHOHDUQLQJRIDVHFRQGODQJXDJHDQGWKHQHJDWLYHWUDQVIHULQWHUIHUHVWKH
OHDUQLQJ
7KHWHQGHQFWRUHSODFHWKHVRXQGVDQGWKHVWUXFWXUHVRIWKHVHFRQGODQJXDJHZLWKWKRVH
RIWKHRWKHUWRQJXHLVNQRZQDVWKHSXOORIWKHPRWKHUWRQJXH7KHVLPLODULWLHVDQGGLIIHUHQFHVLV
WKHSURQXQFLDWLRQZRUGIRUPDWLRQDQGWKHVWUXFWXUHPXVWEHKLJKOLJKWHGVRWKDWWKHOHDUQHUFDQ
FDWFKKROGRIWKHLQIOXHQFHVDQGRYHUFRPHWKHLQWHUIHUHQFHV
7DPLOVSHDNHUVILQGLWGLIILFXOWWRSURQRXQFHFHUWDLQVRXQGVLQ(QJOLVKDQGWKH HLWKHU
VXEVWLWXWH7DPLOVRXQGVRUWUWRDSSUR[LPDWHWRWKHQHDUHVW7DPLOVRXQGV
,QFDVHRIVLPSOHSDVWWKHOHDUQHUXVHV
+HZDVZURWHDOHWWHULQVWHDGRIKHZURWHDOHWWHU
7KHXVHRIµWKHUH¶SDWWHUQLVQRWDYDLODEOHLQ7DPLO
6RWKHOHDUQHUXVHV
µ$SHQFLOLVWKHUHRQWKHWDEOHµLQVWHDGRIµWKHUHLVDSHQFLORQWKHWDEOH¶
7KHVHLQWHUIHUHQFHVPDEHUHFWLILHGESURYLGLQJUHPHGLDOPHDVXUHVRIXVLQJWKHFRUUHFW
SDWWHUQV DQG SURQXQFLDWLRQ 7KH ODQJXDJH LV D VVWHP DQG KHQFH WKH VLPLODULWLHV EHWZHHQ WKH
ODQJXDJHVPXVWEHIRFXVHGWRSURPRWHSRVLWLYHWUDQVIHURIDELOLWLHV
7KH SULQFLSOH RI VXEVWLWXWLRQ LV FRPPRQ WR ERWK WKH ODQJXDJHV ,W PXVW EH SURSHUO
XWLOL]HG
+HOLNHVVZHHW²E WHD
+HOLNHVWHD
0RUHRYHUWKHIRFXVRIVSHHFKEHIRUHUHDGLQJDQGZULWLQJLQERWKWKHODQJXDJHVLVWREH
KLJKOLJKWHG $V IDU DV SRVVLEOH WUDQVODWLRQ RI ZRUG PHDQLQJV LV WR EH GLVFRXUDJHG 6WUXFWXUDO
YDULDWLRQVPXVWEHEURXJKWWROLJKWWRWKHOHDUQHU
7KHOHDUQHULVPDGHWRKDYHDIHHOIRUWKH(QJOLVKQHVVUDWKHUWKDQWKH7DPLOQHVV7KLV
ZRXOGQRWRQOPDNHWKHSUDFWLFHRIVHFRQGODQJXDJHPHDQLQJEXWDOVRZRXOGKHOSWKHOHDUQHUWR
FRUUHFW KLV PLVWDNHV 7KLV NLQG RI DSSURYDO IDFLOLWDWHV WKH VHFRQG ODQJXDJH OHDUQLQJ 7KH
UHVWULFWHGXVHRIPRWKHUWRQJXHLQWKHFODVVURRPSURPRWHVHIIHFWLYHVHFRQGODQJXDJHOHDUQLQJ

'/0+11


7KHFKLOGKDVWROHDUQLWGHOLEHUDWHOXVXDOOLQWKHIRUPDOBBBBBBBBBBVLWXDWLRQ
D QDWXUDOE WDEOHF ROGG FODVVURRP

7KHOHDUQHUKDVWRHVFDSHIURPWKHSXOORIWKHPRWKHUWRQJXH
D VLVWHUE (QJOLVKF PRWKHUG ODQJXDJH

7 0
##########################################################

'LIIHUHQW FRPPLWWHHV DQG FRPPLVVLRQV KDYH JLYHQ WKHLU VXJJHVWLRQV WR VROYH WKH
ODQJXDJHSUREOHPLQWKHFRXQWU7KHHQWUDO$GYLVRU%RDUGRI(GXFDWLRQ GHVLJQHGD
WKUHHODQJXDJHIRUPXOD DQGUHFRPPHQGHGLWIRUWKHVFKRRO FKLOGUHQ 7KHQLQWKHKLHI
0LQLVWHUV¶ RQIHUHQFH HQGRUVHG WKH WKUHH ODQJXDJH IRUPXOD IRU WKH VFKRROV $FFRUGLQJ WR WKH
WKUHH ODQJXDJH IRUPXOD HYHU VFKRRO JRLQJ FKLOG KDV UHTXLUHG WR VWXG WKH IROORZLQJ WKUHH
ODQJXDJHV
x 0RWKHUWRQJXHRUWKHUHJLRQDOODQJXDJH
x (QJOLVK
x +LQGLIRUQRQ+LQGLVSHDNLQJDUHDV
x ,IPRWKHUWRQJXHLV+LQGLWKHQDQRWKHUPRGHUQ,QGLDQODQJXDJH7KXVLIPRWKHU
WRQJXHRIWKHFKLOGLV8UGXKHVKHZLOOKDYHWRVWXG8UGX(QJOLVKDQG+LQGL2Q
WKHRWKHUKDQGLIWKHPRWKHUWRQJXHRIWKHFKLOGLV+LQGLKHZLOOEHUHTXLUHGWR
OHDUQ+LQGL(QJOLVKDQGRQHPRUH,QGLDQODQJXDJH7KXVLQ3XQMDEWKHVWXGHQWV

OHDUQ 3XQMDEL (QJOLVK DQG +LQGL DQG LQ +DUDQD WKH VWXGHQWV OHDUQ +LQGL
(QJOLVKDQG3XQMDEL,Q83WKHVWXGHQWVOHDUQ+LQGL(QJOLVKDQG6DQVNULW
.RWKDUL RPPLVVLRQ PRGLILHG WKH GXP ODQJXDJH IRUPXOD $FFRUGLQJ WR WKH
FRPPLVVLRQ UHJLRQDO ODQJXDJH VKRXOG EH WDXJKW DW WKH SULPDU VWDJH FODVV , WR ,9 $W WKH
KLJKHUSULPDUVWDJH FODVV9WR9, PRWKHUWRQJXHRU+LQGL0RWKHUWRQJXHRU(QJOLVKVKRXOG
EHWDXJKWFRPSXOVRULODQGWKHWKLUGODQJXDJHVKRXOGEHWDXJKWRQRSWLRQDOEDVLV,QFODVVHV9,,
WR;WKHVWXGHQWVVKRXOGVWXGWKUHHODQJXDJHV7KXVLQ+LQGLVSHDNLQJDUHDVWKHVWXGHQWVZLOO
VWXG+LQGL(QJOLVKDQGDPRGHUQ,QGLDQODQJXDJH,QQRQ+LQGLVSHDNLQJDUHDVWKHSXSLOVZLOO
VWXGUHJLRQDOODQJXDJH+LQGLDQG(QJOLVK
7KXVZHILQGWKDW(QJOLVKKDVWREHOHDUQWERQHDQGDOOLQWKHVFKRROLQJSHULRG1RZLQ
WKLV DJH RI VFLHQFH DQG WHFKQRORJ HYHURQH LV FRQVFLRXV RI PDNLQJ LPSURYHPHQWV :LWKRXW
(QJOLVKLWLVQRWSRVVLEOH1RZPRUHDQGPRUHSHRSOHDUHJHWWLQJUHDGWROHDUQ(QJOLVK
9
#########################################################
/DQJXDJH ZDV WKH EDVLV RI UHRUJDQL]DWLRQ RI WKH VWDWHV LQ ,QGLD DIWHU LQGHSHQGHQFH DQG WKH
GHPDQGIRUIXUWKHUUHRUJDQL]DWLRQRIQHZVWDWHVRQWKLVEDVLVKDVEHHQFRQFHGHGIURPWLPHWR
WLPH7RGD(QJOLVKLVEHLQJSURJUHVVLYHOUHSODFHGE+LQGLRUUHJLRQDOODQJXDJHV:LWKWKH
GDZQRIIUHHGRPWKHUHZDVDPRYHPHQWWRUHVWRUHWKHQDWLRQDOODQJXDJHWRWKHLUULJKWIXOSODFHLQ
WKHHGXFDWLRQDOVVWHPRIWKHFRXQWU,QWKH,QGLDQFRQVWLWXWLRQSURFODLPHG+LQGLDVWKH
RIILFLDOODQJXDJHRIWKH8QLRQEXWLQUHDOLWLWSRVWSRQHG+LQGL¶VFODLPWRVXFKVWDWXVIRUWKHILUVW
ILIWHHQHDUVRILQGHSHQGHQFH,WLVIRUWKLVUHDVRQWKDWWKHSHRSOHRIVRXWKRSSRVHG+LQGLDQG
FRQVLVWHQWOGHPDQGHGDFRQVWLWXWLRQDOJXDUDQWHHIRUWKHFRQWLQXHGXVHRI(QJOLVKLQRUGHUWR
VDIHJXDUGWKHLULQWHUHVW
(QJOLVKEHLQJWKHPDMRUYHKLFOHRIWKHFXOWXUHRIWKHPRGHUQZRUOGLVQHFHVVDUIRUNHHSLQJLQ
WRXFKZLWKWKHSURJUHVVLYHIRUFHVRIWKHZRUOG)RUWKHLQWHUQDOOLIHRIWKHQDWLRQ(QJOLVKDOVR
VHUYHVDVDQHIIHFWLYHDJHQFIRUEULQJLQJDERXWGHVLUDEOHVRFLDOFKDQJH,WFDQEHREVHUYHGLQ
GLIIHUHQWDVSHFWVRIRXUGDLOOLIH
,Q ,QGLD WKH SHRSOH RI YDULRXV VWDWHV XVH YDULRXV ODQJXDJHV VR ,QGLD LV FDOOHG D PXOWL OLQJXDO
FRXQWUWKHSHRSOHXVHWKHLUPRWKHUWRQJXHDWKRPH%XWIRUFRPPXQLFDWLRQZLWKRWKHUVWDWH

SHRSOHWKHXVHWKHUHJLRQDOODQJXDJHRUWKH(QJOLVKODQJXDJH7KHSHRSOHDUHXVLQJGLIIHUHQW
ODQJXDJHDWYDULRXVSODFHVEDVHGRQWKHQHHGSXUSRVHVDQGVLWXDWLRQ
: B8
#########################################################
(QJOLVKKDVEHHQULJKWOGHVFULEHGDVDJDWHZDRIWKHZRUOG¶VFXOWXUH,WLVDZLQGRZWRDOO
VFLHQWLILFWHFKQRORJLFDOOHJDOVRFLRFXOWXUDODQGPHGLFDOSURJUHVVWKDWLVFRQVWDQWOWDNLQJSODFH
LQWKHZRUOG,WLVDOVRGHVFULEHG³DVDSLSHOLQHIRUWKHVWUHDPRINQRZOHGJHLQDOOEUDQFKHVRI
OHDUQLQJ´,WLVQRWPHUHOWKHODQJXDJHRIWKH(QJOLVKPDQRQOEXWDQDQFLHQWZHOOGHYHORSHG
ODQJXDJHVSRNHQEQHDUOKDOIRIWKHZRUOGSRSXODWLRQ*DQGKMLWKHUHIRUHVDLG³(QJOLVKLVD
ODQJXDJH RI LQWHUQDWLRQDO FRPPHUFH ,W LV WKH ODQJXDJH RI GLSORPDF DQG LW FRQWDLQV PDQ
OLWHUDUWUHDVXUHVLWJLYHVXVDQLQWURGXFWLRQWRZHVWHUQWKRXJKWDQGFXOWXUH´
$IWHUNQRZLQJIXOOZHOOWKDW(QJOLVKKDVJLYHQJUHDWDGYDQFHPHQWLQHGXFDWLRQFXOWXUH
DQGVFLHQWLILFGHYHORSPHQWWR,QGLDQSHRSOHZHVKRXOGQRWJLYHLWXSIURPRXUVFKRROFXUULFXOXP
PHUHOIURPVHQWLPHQWDODQGQDUURZUHJLRQDOFRQVLGHUDWLRQV

'/0+11


7KHHQWUDO$GYLVRU%RDUGRI(GXFDWLRQ GHVLJQHGDBBBBBBBODQJXDJHIRUPXOD
D RQHE WZRF WKUHHG IRXU

(QJOLVKLVEHLQJWKHPDMRUBBBBBBBBBBBRIWKHFXOWXUHRIWKHPRGHUQZRUOG
D YHKLFOHE WH[WF PRWKHUG ODQJXDJH

#########################################################

/DQJXDJHOHDUQLQJLVDPDWWHURIJURZWKDQGPDWXUDWLRQRIUHODWLYHOIL[HGFDSDFLWLHVXQGHU
DSSURSULDWHFRQGLWLRQV7KHSXSLOVDELOLWLQWKHILUVWODQJXDJHDQGH[SHULHQFHLQWKHXVHRIWKH
ODQJXDJH VNLOOV RI WKH PRWKHU WRQJXH LQIOXHQFH OHDUQLQJ RI WKH VHFRQG ODQJXDJH /HDUQLQJ D
VHFRQGODQJXDJHLVLQVRPHPHDVXUHUHSHDWLQJDQROGH[SHULHQFH$OHDUQHUZKRKDVOHDUQWRQH
ODQJXDJHNQRZVDORWDERXWKXPDQODQJXDJH7KHPRWKHUWRQJXHLQEHWZHHQWKHSXSLOVOHDUQLQJ
RIDVHFRQGODQJXDJHLQPDQZDV/HDUQLQJDVHFRQGODQJXDJHLVLQVRPHPHDVXUHUHSHDWLQJDQ
ROGH[SHULHQFH$OHDUQHUZKRKDVOHDUQWRQHODQJXDJHNQRZVDORWDERXWKXPDQODQJXDJH7KH
PRWKHUWRQJXHLQIOXHQFHVWKHSXSLOVOHDUQLQJRIDVHFRQGODQJXDJHLQPDQZDV7KHSRVLWLYH
WUDQVIHURIWKHH[SHULHQFHVIDFLOLWDWHVWKHOHDUQLQJRIDVHFRQGODQJXDJHDQGWKHQHJDWLYHWUDQVIHU
LQWHUIHUHV WKH OHDUQLQJ 7KH WHQGHQF WR UHSODFH WKH VRXQGV DQG WKH VWUXFWXUHV RI WKH VHFRQG
ODQJXDJHZLWKWKRVHRIWKHRWKHUWRQJXHLVNQRZQDVWKHSXOORIWKHPRWKHUWRQJXH
7KXVZHILQGWKDW(QJOLVKKDVWREHOHDUQWERQHDQGDOOLQWKHVFKRROLQJSHULRG1RZLQWKLVDJH
RIVFLHQFHDQGWHFKQRORJHYHURQHLVFRQVFLRXVRIPDNLQJLPSURYHPHQWV:LWKRXW(QJOLVKLW
LVQRWSRVVLEOH1RZPRUHDQGPRUHSHRSOHDUHJHWWLQJUHDGWROHDUQ(QJOLVK
=

! #

$ %

' ( ) #*

B8A0
##########################################################
F
E
G
F
F
D
BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB

##########################################################

(OL]DEHWK 0( 6 1HZ 'HOKL 'LVFRYHU 3XEOLVKLQJ
KRXVH
9HQNDWHVZDUDQ 6 1HZ 'HOKL 8%6 3XEOLFDWLRQ
'LVWULEXWRUV3YW/WG
'DVK%1 'HOKL'RPLQDQW3XEOLFDWLRQVDQG'LVWULEXWRUV
! 0RZOD6KDLN 1HZ'HOKL1HHONDPDO3XEOLFDWLRQV
3YW/WG
$ .RKOL$/ 1HZ'HOKL
'KDQSDW5DLSXEOLVKLQJR S /WG
$PEHGNDU 9 2UDWKDQDG $QQDYHHUD
3XEOLVKHUV

,QWURGXFWLRQ
2EMHFWLYHV
RPPXQLFDWLRQ0HDQLQJDQGRQFHSW
(OHPHQWVRIFRPPXQLFDWLRQ
3URFHVVRIFRPPXQLFDWLRQ
7SHVRIFRPPXQLFDWLRQ
9HUEDODQG1RQYHUEDOFRPPXQLFDWLRQ
,QWHUSHUVRQDO,QWUDSHUVRQDOFRPPXQLFDWLRQJURXSDQGPDVV
FRPPXQLFDWLRQ
:DVDQGPHDQVRIGHYHORSLQJFRPPXQLFDWLRQ
*HQHUDOEDUULHUVWRFRPPXQLFDWLRQ
/HW8V6XP8S
8QLWHQG$FWLYLWLHV
6XJJHVWHG5HDGLQJV
BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB

RPPXQLFDWLRQSODVDQHIIHFWLYHDQGHVVHQWLDOUROHIRUUXQQLQJWKHVKRZRIDQIRUPDO
DQGLQIRUPDOWHDFKLQJOHDUQLQJSURFHVV,QPDQRILWVZDWHDFKLQJLVFRPPXQLFDWLQJDQGLQ
WKLVVHQVHJRRGWHDFKHUVDUHDOZDVJRRGFRPPXQLFDWRUV
(GXFDWLRQZLWKLWVFRUUHODWHGDFWLYLWLHVRIWHDFKLQJDQGOHDUQLQJLQYROYHVFRPPXQLFDWLRQ
DVZHOODVUHFLSURFDOLQWHUDFWLRQEHWZHHQWKHWHDFKHUDQGWKHVWXGHQWVDVFKDQQHOVRIUHDOL]LQJLWV
REMHFWLYHV RPPXQLFDWLRQ SODV DQ HIIHFWLYH DQG HVVHQWLDO UROH IRU UXQQLQJ WKH VKRZ RI DQ
IRUPDODQGLQIRUPDOWHDFKLQJOHDUQLQJSURFHVV,QPDQRILWVZDWHDFKLQJLVFRPPXQLFDWLQJ
DQGLQWKLVVHQVHJRRGWHDFKHUVDUHDOZDVJRRGFRPPXQLFDWRUV

BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB

$IWHUUHDGLQJWKHOHVVRQRXZLOOEHDEOHWR
x NQRZWKHPHDQLQJRIFRPPXQLFDWLRQ
x XQGHUVWDQGWKHHOHPHQWVRIFRPPXQLFDWLRQ
x LGHQWLIWKHSURFHVVRIFRPPXQLFDWLRQ
x VWDWHWKHWSHVRIFRPPXQLFDWLRQ
x XQGHUVWDQGWKHZDVDQGPHDQVRIGHYHORSLQJFRPPXQLFDWLRQ
x GHVFULEHWKHJHQHUDOEDUULHUVWRFRPPXQLFDWLRQ
BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB

RPPXQLFDWLRQ LQ LWV OLWHUDO VHQVH VWDQGV IRU WKH DFW RI FRPPXQLQJ 2QH FDQ
FRPPXQLFDWH KLV LGHDV WKRXJKWV DQG IHHOLQJV HWF RU WUDQVIHU DQ WSH RI LQIRUPDWLRQ DQG
NQRZOHGJHWRWKHRWKHUVWKURXJKWKLVDFWRIFRPPXQLFDWLRQ³FRPPXQLV´LVD/DWLQZRUGPHDQV
µFRPPRQ¶ +HQFH FRPPXQLFDWLRQ LV KDYLQJ FRPPRQ H[SHULHQFHV ZLWK RWKHU SHRSOH 7KH
IROORZLQJDUHVRPHRIWKHZLGHODFFHSWHGGHILQLWLRQVIRUFRPPXQLFDWLRQ
³ ´
³ !´7KLVSURYLGHVIHHGEDFN
WRSHUVRQVLQYROYHGLQH[FKDQJLQJLGHDV
# $ ! %
RPPXQLFDWLRQ LQ LWV OLWHUDO VHQVH VWDQGV IRU WKH DFW RI FRPPXQLQJ 2QH FDQ
FRPPXQLFDWH KLV LGHDV WKRXJKWV DQG IHHOLQJV HWF RU WUDQVIHU DQ WSH RI LQIRUPDWLRQ DQG
NQRZOHGJHWRWKHRWKHUVWKURXJKWKLVDFWRIFRPPXQLFDWLRQ

$

,W LV QHFHVVDU WR XQGHUVWDQG WKH HOHPHQWV RI FRPPXQLFDWLRQ LQ RUGHU WR OHDUQ DERXW
FRPPXQLFDWLRQ
D RQWH[W 3KVLFDO WKHURRPKDOOZDRUSDUW
6RFLDO VWDWXVUHODWLRQVKLSVDPRQJSHRSOH
3VFKRORJLFDO IRUPDOLWRULQIRUPDOLW
7HPSRUDO WLPHRIWKHGDDQGSHULRGRIWLPH
E 6RXUFH $SHUVRQRUDQHYHQWZKLFKSURYLGHVYHUEDORUQRQYHUEDOFXHVWRZKLFKVRPHRQH
FDQUHVSRQG:KHQWKHVRXUFHLVSHUVRQLWLVDOVRFDOOHGDVHQGHU
F 5HFHLYHU $SHUVRQZKRLQWHUSUHWVWKHPHVVDJH
G 0HVVDJH $VHWRIYHUEDORUQRQYHUEDOFXHVVHQWEDVRXUFHXHVLQFOXGHZRUGVILJXUHV
JHVWXUHVPRYHPHQWVHWF
H 6PERO $VPEROLVVRPHWKLQJWKDWVWDQGVIRUVRPHWKLQJHOVH,WFDQEHYHUEDORUQRQYHUEDO
:RUGVDUHVPEROV
I KDQQHO $ FKDQQHO LV WKH PHDQV XVHG WR FRQYH WKH PHVVDJH7KH FKDQQHOV DUH VHQVHV RI
SHUFHSWLRQLQFOXGLQJYLVXDODXGLWRUWDFWLOHJXVWDWRUDQGROIDFWRU
J (QFRGLQJ (QFRGLQJLVWKHSURFHVVRIXVLQJVPEROVWRH[SUHVVWKHLGHDRUIHHOLQJ
K 'HFRGLQJ ,W LV WKH SURFHVV E ZKLFK WKH UHFHLYHU GHFLSKHUV WKH VPEROV FRQYHHG E WKH
VRXUFH
L )HHGEDFN ,WLVWKHUHVSRQVHDUHFHLYHUJLYHVWRVHQGHUDVDUHVXOWRIVHQGHU¶VPHVVDJH
M 1RLVH 1RLVHLVDQWKLQJWKDWGLVWRUWVWKHPHVVDJH,WFDQEHH[WHUQDORULQWHUQDOWRVRXUFH
DQGWKHUHFHLYHU
#########################################################
2

RPPXQLFDWLRQ LV EDVLF WR DOO KXPDQ SHUIRUPDQFH DQG LQWHUDFWLRQ ,W UHIHUV WR WKH
WUDQVPLVVLRQRIWKRXJKWVLQIRUPDWLRQDQGFRPPDQGVEHPSORLQJWKHVHQVRUFKDQQHOV7KH
SURFHVVRILQWHUSHUVRQDOFRPPXQLFDWLRQLVERWKDQDUWDQGDVFLHQFH7KHDUWRIFRPPXQLFDWLRQ
KDV LWV URRWV LQ WKH SULQFLSOHV RI SVFKRORJ DQG WKH VFLHQFH LQ WKH XVH RI WHFKQRORJ IRU
FRPPXQLFDWLRQ,WLVWKHUHIRUHQHFHVVDUWRXQGHUVWDQGDQGDSSOWKHSULQFLSOHVRISVFKRORJ

DQG WR OHDUQ DQG SUDFWLFH WKH XVH RI DXGLRYLVXDO PDWHULDOV 6RPH WKRXJKW RQ JURXS
FRPPXQLFDWLRQDUHQHFHVVDUWRPDNHWKHPHHWLQJVDQG JURXSGLVFXVVLRQPRUHHIIHFWLYHLH
OHVVWLPHFRQVXPLQJPRUHFRPPXQLFDWLYHDQGUHVXOWRULHQWHG

'/0+11


RPPXQLFDWLRQPHDQVBBBBBBBBBBBBBBRILGHDVDQGIHHOLQJVLQDPRRGRIPXWXDOLW
D GLYLGLQJE KLGLQJF VHHNLQJG VKDULQJ

$SHUVRQZKRLQWHUSUHWVWKHPHVVDJHLVFDOOHGBBBBBBBBBBBBBBBBBBB
D YHKLFOHE WH[WF UHFHLYHUG VHQGHU

70

7KHQDWXUHIRUPVDQGVWOHVRIFRPPXQLFDWLRQLVYHUPXFKGHSHQGHQWXSRQWKHQDWXUH
DQGWSHVRIPHGLDRUFRPPXQLFDWLRQFKDQQHOVXVHGEWKHVHQGHUDQGUHFHLYHUV*HQHUDOOZH
FDQ FODVVLI FRPPXQLFDWLRQ LQWR WKH IROORZLQJ EURDG FDWHJRULHV LQ WHUPV RI WKH XVH RI WKH
GLIIHUHQWFRPPXQLFDWLRQPHGLDRUFKDQQHOV
D 9HUEDODQG1RQ9HUEDORPPXQLFDWLRQ
E 1DWXUDODQG0HFKDQLFDORPPXQLFDWLRQ
7 5(%()* )D 5(%44).(.)
7KHFRPPXQLFDWLRQLQZKLFKZHPDNHXVHRIWKHRUDODQGZULWWHQIRUPVRIODQJXDJHLV
WHUPHGDVYHUEDOFRPPXQLFDWLRQ,QFRUUHFWWRVXFKYHUEDOFRPPXQLFDWLRQZHFDQFRPPXQLFDWH
RXU IHHOLQJV DQG WKRXJKWV WKURXJK QRQYHUEDO PHDQV RU ZLWKRXW PDNLQJ DQ XVH RI YHUEDO RU
ZULWWHQODQJXDJH
5(%44).(.)
/DQJXDJHLVWKHNHDQGEDVHRIDQYHUEDOFRPPXQLFDWLRQ(DFKVRFLHWGHYHORSVRQHRU
WKH RWKHU IRUPV RI ODQJXDJH VSRNHQ RU ZULWWHQ ZRUGV IRU FRPPXQLFDWLQJ ZLWK HDFK RWKHU
$FFRUGLQJO ZH KDYH ORFDO ODQJXDJH UHJLRQDO ODQJXDJH QDWLRQDO ODQJXDJH DQG LQWHUQDWLRQDO
ODQJXDJHIRUWKHUHTXLUHGFRPPXQLFDWLRQDPRQJRYHUVHOYHV7KHXVHRIODQJXDJHFDQWDNHRQHRI
WKH WKUHH IRUPV LH RUDO ZULWWHQ DQG RUDO SOXV ZULWWHQ ,Q RUDO IRUP RI WKH ODQJXDJH RQH FDQ
FRPPXQLFDWHKLVIHHOLQJVWKRXJKWVDQGLQWHQWLRQVWRRWKHUVEVSHDNLQJDQGOLVWHQLQJFKDQQHO
)RUWKLVSXUSRVHWKHVHQGHUFRPPXQLFDWRUPDNHVXVHRIVRPHSUHFLVHDQGGLVWLQFWVRXQGVZKLFK
ZKHQKHDUGEWKHUHFHLYHUDQGGHFRGHGIRUXQGHUVWDQGLQJWKHPHDQLQJRIWKHFRPPXQLFDWHG
PHVVDJH
,QZULWWHQIRUPRIWKHODQJXDJHFRPPXQLFDWLRQWKHFRPPXQLFDWRUVHQGHUPDNHVXVHRI
WKH VFULSW RI WKH ODQJXDJH MXVW DV 'HYQDJUL IRU +LQGL *XUXPXNKL IRU 3XQMDEL HWF IRU WKH
FRPPXQLFDWLRQRIWKRXJKWVDQGIHHOLQJVLQZULWWHQODQJXDJHRQHZULWHVDERXWLWWKURXJKVRPH

ZULWWHQ PRGH SHQFLOSDSHU FKHFNERDUG RU SULQW PHGLD DQG WKH SHUVRQ RQ UHFHLYLQJ HQG
XQGHUVWDQGVWKHPHDQLQJRIWKHFRPPXQLFDWHGPHVVDJHWKURXJKLWVUHDGLQJDQGGHFRGLQJ
,QWKHXVXDOFODVVURRPFRPPXQLFDWLRQDWHDFKHUZKLOHZULWLQJRQWKHEODFNERDUGDOVR
PDNHVXVHRIODQJXDJHIRUWKHH[SODQDWLRQDQGH[SRVLWLRQRIWKHZULWWHQFRQWHQWV,QWKLVZD
RUDO IRUP FRPELQHG ZLWK ZULWWHQ IRUP RI FRPPXQLFDWLRQ RU YLFHYHUVD DOZDV SURYH PRUH
HIIHFWLYHWKDQDQRIWKHVHIRUPVXVHGVHSDUDWHO
) 5(%44).(.)
RPPXQLFDWLRQ SURFHVV FDQ DOVR EH ZRUULHG RXW ZLWKRXW WKH XVH RI DQ YHUEDO PHDQV
ZULWWHQ RU VSRNHQ ODQJXDJH ,Q PDQ FDVHV VXFK DV FRPPXQLFDWLRQ ZLWK GHDI DQG GXPE
PHQWDOO UHWDUGHG WKH SHUVRQV QRW NQRZLQJ WKH ODQJXDJH RI WKH VHQGHU RU VHQGLQJ D VHFUHWH
PHVVDJH LQ WKH FRPPRQO FRGHG VPEROLF H[SUHVVLRQ LW PD EHFRPH D QHFHVVLW DV ZHOO DV
FRPSXOVLRQWRPDNHXVHRIWKHQRQYHUEDOFRPPXQLFDWLRQ ,QWKHQRUPDOVLWXDWLRQVDOVRQRQ
YHUEDOPHGLDLVJHQHUDOOXVHGIRUJLYLQJVWUHQJWKDQGHIIHFWLYHQHVVWRWKHYHUEDOFRPPXQLFDWLRQ
6RPHRIWKHVHLPSRUWDQWPRGHVRIQRQYHUEDOFRPPXQLFDWLRQDUHGLVFXVVHGEHORZ
.F (.(%;-11.)
)DFLDOH[SUHVVLRQVPDYHUZHOOFRPPXQLFDWHWKHIHHOLQJVWKRXJKWVDQGLQWHQWLRQVRIWKH
FRPPXQLFDWRU,QJHQHUDOIDFHDQGIDFLDOH[SUHVVLRQVPDEHVDLGWREHDWUXHLQGH[RIRQH¶V
HPRWLRQDODQGWKLQNLQJEHKDYLRXU:KHQRQHLVSHUWXUEHGKLVIDFHJLYHVWKHLGHQWLWRIWKHOHYHO
RI KLV DQ[LHW DQG VWUHVV 6LPLODUO ZKHQ RQH LV LQ KDSS PRRG RU MRIXO KLV RU KHU IDFLDO
H[SUHVVLRQLVDOPRVWVLPLODUDQGXQLYHUVDOWRDOODURXQGWKHZRUOG
..F ()+(+6'3
/DQJXDJH RI WKH HH PD EH FRQVLGHUHG DV DQRWKHU LPSRUWDQW PRGH RI QRQYHUEDO
FRPPXQLFDWLRQ (HV LQ IDFW LQ D YHU IRUFHIXO ZD FRQYH DOO ZKDW LV LQWHQGHG WR EH
FRPPXQLFDWHGEWKHFRPPXQLFDWRU/DQJXDJHRIWKHHHPDDOVREHFRQVLGHUHGDVFRPPRQ
DQG XQLYHUVDO WR DOPRVW DOO WKH FXOWXUHV DQG VRFLHWLHV RI WKH ZRUOG 7KH ODQJXDJH RI WKH HH
PRYHPHQWVLVVRPHZKDWVRXQLYHUVDODQGIDPLOLDUWKDWLWLVYHUHDVDQGVLPSOHWRGHFRGHWKH
IHHOLQJVWKRXJKWVDQGLQWHQVLRQVFRQYHHGEWKHFRPPXQLFDWRUWKURXJKKLVHHPRYHPHQWV
$FWXDOOHHWRHHFRQWDFWIRUPVWKHYHUEDVLVRIHIIHFWLYHFRPPXQLFDWLRQ:KHQRQHIRFXVHV
RQHV HH IRU KDYLQJ HH WR HH FRQWDFW LQ FRQYHUVDWLRQ LW PHDQV WKDW KH WKLQJV RX TXLWH
LPSRUWDQWIRUFRQYHUVDWLRQ+RZHYHUWKHZDKHJD]HVPDFRQYHKLVOLNLQJRUGLVOLNLQJRX,Q

WKHFODVVURRPFRPPXQLFDWLRQWKHQHFHVVDULQWHUDFWLRQOLQNVEHWZHHQDQGDPRQJWKHWHDFKHUDQG
SXSLOVDUHPRVWOPDLQWDLQHGWKURXJKWKHUHODWHGHHODQJXDJH

*3%()+(+
2XUERGKDVDQLPSUHVVLYHDQGHIIHFWLYHODQJXDJHIRUFRPPXQLFDWLQJRXUIHHOLQJVWKRXJKWV
DQGDFWLRQV$FODVVLFDOGDQFHUZKLOHSHUIRUPLQJRQWKHVWDJHPDSURYLGHDVXEVWDQWLDOSURRIRI
WKHHIIHFWLYHQHVVRIVXFKFRPPXQLFDWLRQWKURXJKWKHYDULRXVJHVWXUHVSRVWXUHVDQGPRYHPHQWV
RIKHUERGSDUWV%RGODQJXDJHDOWKRXJKVHHPVWREHVRPHZKDWXQLYHUVDODQGFRPPRQHWKDV
DSHUIHFWFXOWXUDODQGVRFLDOEDVH
7KH ERG ODQJXDJH LQ LWV EURDG IRUP PD LQFOXGH YDULRXV WSHV RI JHVWXUHV DQG SKVLFDO
PRYHPHQWVRIWKHERGSDUWV,QVXFKDEURDGIRUPLWLVTXLWHFRPPRQOXVHGEDOOVSHDNHUV
VWDJH RU PHGLD DFWRUV SROLWLFDO DQG UHOLJLRXV OHDGHUV ODZHUV DQG DGYHUWLVLQJ PRGHOV ZKLOH
JLYLQJWKHLUSHUIRUPDQFHVDWWKHLUZRUNSODFH
2XUERGVSHDNVDERXWRXUIHHOLQJRIDQ[LHWIHDUDQJHUKDSSLQHVVVDGQHVVORYHDIIHFWLRQ
KDWUHGQHVVDPSDWKDQGVPSDWKWKURXJKWKHYDULRXVDFWLRQVDQGPRYHPHQWVRILWVRUJDQVDQG
ERGSDUWV-XGJLQJVXFKEURDGXVHRIWKHERGODQJXDJHLWFDQEHYHUHIIHFWLYHOXVHGEWKH
WHDFKHUVDQGSXSLOVLQWKHFODVVURRPIRUWKHKHDOWKFODVVURRPLQWHUDFWLRQLQDOPRVWDOOWSHVRI
WHDFKLQJOHDUQLQJVLWXDWLRQV7HDFKHUVPDDGGFRORXUVDQGHIIHFWLYHQHVVWRWKHLUH[SODQDWLRQV
H[SRVLWLRQVGHPRQVWUDWLRQVVNLOOVZLWKWKHXVHRIDSSURSULDWHERGODQJXDJH

'/0+11


BBBBBBBBBBBBBBBBLVWKHNHDQGEDVHRIDQYHUEDOFRPPXQLFDWLRQ
D GDQFLQJE ZULWLQJF GUDZLQJG ODQJXDJH

BBBBBBBBBBBH[SUHVVLRQVPD YHUZHOOFRPPXQLFDWHWKHIHHOLQJVWKRXJKWVDQGLQWHQWLRQVRIWKH
FRPPXQLFDWRU

D )DFLDOE KDQGF UHFHLYHUG QRQHRIWKHDERYH

7)-1)(%!)(-1)(%+-()*4(1144).(.)

RPPXQLFDWLRQFDQEHFODVVLILHGLQWRLWVYDULRXVWSHVRQWKHEDVLVRIWKHQXPEHURIWKHSHRSOH
LQYROYHGDQGWKHVLWXDWLRQVSUHYDLOHGGXULQJWKHFRXUVHRIFRPPXQLFDWLRQ
) ) 44).(.) 7KLV WSH RI FRPPXQLFDWLRQ WDNHV SODFH EHWZHHQ WZR
LQGLYLGXDOV 0RVW RI RXU GD WR GD FRQYHUVDWLRQ DQG FRPPXQLFDWLRQ LQ DQ LQIRUPDO RU
IRUPDOZDXVXDOORFFXUVLQWKLVIRUP$VH[DPSOHRIWKLVWSHRIFRPPXQLFDWLRQZHPD
FLWHFRPPXQLFDWLRQEHWZHHQZLIHDQGKXVEDQGORYHUDQGEHORYHGVKRSNHHSHUDQGFXVWRPHU
DQGEHWZHHQDQWZRUHODWLYHVIULHQGVFROOHDJXHVDQGHYHQWZRVWUDQJHUV
4(%%+-44).(.) 7KLVWSHRIFRPPXQLFDWLRQRFFXUVLQIRUPDODVZHOODV
LQIRUPDOZDVDPRQJWKHPHPEHUVRIDVPDOOJURXS RQVLVWLQJPRUHWKDQWZRLQGLYLGXDOV
$V H[DPSOH RI WKLV WSH RI FRPPXQLFDWLRQ ZH PD FLWH FRPPXQLFDWLRQ DPRQJ L WKH
PHPEHUVRIWKHIDPLO LL SDVVHQJHUVRIDEXVRUUDLOZDFRDFKHWF,QVWHDGRILQGLYLGXDOV
WKHFRPPXQLFDWLRQPDDOVRWDNHSODFHEHWZHHQRUDPRQJWKHJURXSVOLNHFRPPXQLFDWLRQ
EHWZHHQWZRIDPLOLHVDVDQHLJKERURUXQLWVRIDORFDOLWRUDVHFWRU
(++-5%.44).(.) 7KLVWSHRIFRPPXQLFDWLRQLQYROYHVDODUJH
QXPEHURISHRSOHRQLQGLYLGXDORUJURXSEDVLV,WLVXVXDOOFRQGXFWHGLQDQRUJDQL]HGRU
IRUPDO ZDV $V H[DPSOHV ZH FLWH WKH FRPPXQLFDWLRQ FDUULHG RXW GXULQJ L PRUQLQJ
DVVHPEORUDQFRFXUULFXODUDFWLYLWRUJDQL]HGLQWKHVFKRROVRSHQVSDFHRUDVVHPEOKDOO
LL GLVFRXUVHRIVRPHUHOLJLRXVSUHDFKLQJDWVRPHUHOLJLRXVJDWKHULQJRUSODFHVRIZRUNVKRS
LLL SXEOLF IXFWLRQV RUJDQL]HG IRU KRQRXULQJ WKH LQGLYLGXDOV LY DGGUHVVLQJ E OHDGHUV LQ
SROLWLFDOJDWKHULQJVHWF
$+().1(.)(%)1..)(%44).(.) 7KLVWSHRIFRPPXQLFDWLRQLVFDUULHG
RXWZLWKLQWKHIRXUZDOOVRIWKHYDULRXVRUJDQL]DWLRQVRULQVWLWXWLRQVOLNHIDFWRURULQGXVWULDO
HVWDEOLVKPHQWV JRYHUQPHQW RIILFHV DQG VHFUHWDULDWV SROLFH DUP SURIHVVLRQDO DQG RWKHU
HGXFDWLRQDO LQVWLWXWHV 7KH VWOH DQG IXQFWLRQLQJ RI VXFK WSH RI FRPPXQLFDWLRQ LV TXLWH

IRUPDOVVWHPDWLFSODQQHGDQGRUJDQL]HG
2(1144).(.) 7KHUDQJHILHOGDQGDSSOLFDWLRQRIWKLVWSHRIFRPPXQLFDWLRQLV
TXLWH ZLGH DQG H[WHQVLYH ,W LV FDUULHG RXW WKURXJK GLIIHUHQW WSHV RI PHFKDQLFDO PHDQV
DSSOLDQFHVDQGPDVVPHGLDOLNHUDGLRWHOHYLVLRQYLGHRFLQHPDILOPVERRNVDQGOLWHUDWXUH
QHZVSDSHUV DQG PDJD]LQHV (PDLO LQWHUQHW FRPPXQLFDWLRQ DQG FRQIHUHQFLQJ VDWHOOLWH
FRPPXQLFDWLRQ DQG WUDQVPLVVLRQ HWF DOWKRXJK KHUH ZH GRQ¶W KDYH DQ GLUHFW IDFH WR IDFH
QDWXUDO FRPPXQLFDWLRQ EHWZHHQ WKH VHQGHU RU UHFHLYHU HW LW LV WKH RQO ZD WR UHDFK WKH
PDVVHVZLWKWKHPHDQLQJIXOPHVVDJHIXOORILQIRUPDWLRQDQGHGXFDWLRQZLWKXWPRVWHFRQRP
DQGHIIHFWLYHQHVV$QRUJDQL]DWLRQLQVWLWXWLRQRULQGLYLGXDOFDQFRPPXQLFDWHKLVWKRXJKWV
IHHOLQJVLQWHQWLRQVDQGSURJUDPPHVWRDKXJHQXPEHURILQGLYLGXDOVRU JURXSV ZLWKLQQR
WLPHZLWKWKHKHOSRIWKHPDVVPHGLD,WKDVUHVXOWHGLQWRWKHJOREDOL]DWLRQRIWKHKXPDQLW
,QDVLQJOHPRPHQWZHFDQFRPPXQLFDWHWRWKHPDVVHVUHVLGLQJLQDQFRUQHURIWKHZRUOG
WKURXJK WKH VRSKLVWLFDWHG PHDQV QRZ GHYHORSHG IRU FDUULQJ RXW WKH WDVN RI PDVV
FRPPXQLFDWLRQ,WKDVUHVXOWHGLQWRWKHGHYHORSPHQWRISURSHUPHDQVIRUFDUULQJRXWWKH
WDVN RI GLVWDQFH HGXFDWLRQ DQG IXOILOOLQJ WKH GXWLHV RI SURYLGLQJ UHTXLUHG DQG HVVHQWLDO
LQIRUPDWLRQ WR DOO WKRVH ZKR DVN DQG QHHG LW 7KH PDVVHV DIWHU UHFHLYLQJ WKH PHVVDJH
LQIRUPDWLRQRULQVWUXFWLRQFDQVHQGWKHLUUHVSRQVHVWRWKHVRXUFHWKURXJKWKHLUZULWLQJRUPD
VKRZWKHLPSDFWRIWKHPHVVDJHWKURXJKWKHLUDFWLRQVDQGEHKDYLRXUV

9B 0
A

*RRGWHDFKLQJLVPRUHWKHQPHUHFRPPXQLFDWLRQ,WLVQRWHQRXJKLIWKHVWXGHQWPHUHO
UHSHDWV WKH VDPH ZRUG DV FRQYHHG WR KLP 7KH WHDFKHU¶V FRQFHUQ LV WKDW WKH VWXGHQW VKRXOG
UHFRJQL]H WKH ZRUG XQGHUVWDQG WKH PHDQLQJ DQG XVHLW DSSURSULDWHO ZLWK FRUUHFW VSHOOLQJ RQ
IXWXUHRFFDVLRQV7UXHOHDUQLQJKDVRFFXUUHGRQOZKHQWKHDFWRIFRPPXQLFDWLRQKDVVXFFHHGHG
LQPDNLQJSHUPDQHQWDQGPHDQLQJIXODGGLWLRQWRWKHVWXGHQW¶VFRPPXQLFDWLRQVNLOOV
)ROORZLQJIDFWRUVPDEHFRQVLGHUHGLQHIIHFWLYHFRPPXQLFDWLRQVNLOOV
,,(344).(.)
7ZRZD FRPPXQLFDWLRQ LQVWHDG RI RQHZD FRPPXQLFDWLRQ LV QHHGHG 7KH WZRZD

FRPPXQLFDWLRQ KDV D EXLOWLQVVWHP RI IHHGEDFN ,W HQVXUHV WKDW IXUWKHU LQIRUPDWLRQ
FODULILFDWLRQ HWF DUH SURYLGHG ZKHQHYHU SRVVLEOH 7KH UHFHLYHUV RU WKH OHDUQHUV JHW
RSSRUWXQLWLHVWRXQGHUVWDQGWKHPHVVDJHRUWKHFRQWHQW
.).-%16%(.3
$FRPPXQLFDWLRQSRVVHVVHVFODULWZKHQLWLVH[SUHVVHGLQODQJXDJHDQGWUDQVPLWWHGLQDZD
WKDWFDQEHFRPSUHKHQGHGEWKHUHFHLYHUODULWUHTXLUHVOLWHUDUDSSURDFKWRODQJXDJHDQG
IDPLOLDULWZLWKODQJXDJHSDWWHUQVRIWKHOHDUQHUV
%-4)6.(.)
7KHOHDUQHUVFDQQRWOLVWHQRUUHDGZLWKXQGHUVWDQGXQOHVVWKHFRQFHQWUDWH$GKHUHQFHWRWKH
QHHG IRU DWWHQWLRQ ZLOO JUDGXDOO RYHUFRPH FHUWDLQ EDUULHUV WR FRPPXQLFDWLRQ LQDWWHQWLRQ
ORVVLQWUDQVPLVVLRQDQGSRRUDWWHQWLRQ0RWLYDWLRQRQWKHSDUWRIWKHOHDUQHUVZLOOLQFUHDVH
WKHTXDOLWRIOHDUQLQJDQGWKHZLOOFHUWDLQOIHHOHQFRXUDJHPHQWIRUWKHLUHIIRUWV
16')%+3C)1.)(%
7HDFKLQJ WHFKQRORJ VKRXOG EH PDGH XVH RI LQ SURYLGLQJ HIIHFWLYH FRPPXQLFDWLRQ LQ
FODVVURRPWHDFKLQJ
('.)+(+.1()*1/.%%1
7KHVKRXOGEHIXOOH[SORLWHGWRPDNHFRPPXQLFDWLRQLQVSLUDWLRQDODQGSUDJPDWLF
:

7KHTXDOLWDQGHIIHFWLYHQHVVRIWKHSURFHVVRIFRPPXQLFDWLRQLVDIIHFWHGIDYRXUDEORU
DGYHUVHO WKURXJK WKH SUHVHQFH RI VRPH RU WKH RWKHU LQWHUYHQLQJ YDULDEOHV OLQJ EHWZHHQ WKH
VRXUFHRIFRPPXQLFDWLRQDQGWKHUHFHLYHU7KHVHYDULDEOHVDFFRUGLQJWRWKHLUQDWXUHKHOSLQJRU
REVWUXFWLQJ WKH SDWK RI FRPPXQLFDWLRQ PD EH WHUPHG DV IDFLOLWDWRU RU EDUULHUV RI
FRPPXQLFDWLRQ
:KHUHDV WKH SUHVHQFH RI D FRQJHQLDO SKVLFDO DQG SVFKRORJLFDO HQYLURQPHQWDO
FRQGLWLRQV DQG IDFLOLWLHV DYDLODEOH IRU HIIHFWLYH FRPPXQLFDWLRQ PD IDFLOLWDWH DQG KHOS LQ
SURYLGLQJGHVLUDEOHHIIHFWLYHQHVVWRWKHFRPPXQLFDWLRQVVWHPWKHWSHVRIEDUULHUVGLVFXVVHG
DKHDGPDFDXVHGLIILFXOWLHVDQGKXUGOHVWRWKHVHQGHUDQGUHFHLYHULQWKHPDWWHURIGHVLUHGIORZ
RI FRPPXQLFDWLRQ /HW XV WU WR QDPH DQG FODVVLI WKHVH EDUULHUV ZKLFK WU WR GLPLQLVK DQG

GLVWRUWWKHTXDOLWRIWKHVLJQDOVVHQWDQGUHFHLYHGEWKHSHUVRQVFRQQHFWHGZLWKWKHSURFHVVRI
FRPPXQLFDWLRQLQWKHPDQQHUGLVFXVVHGEHORZ

))(%5(.1644).(.)
7KH URRW RI VXFKEDUULHUV OLH LQ WKH VHQGHU DQG UHFHLYHU RI WKH PHVVDJH 7KHVH FDQEH
QDPHGXQGHU
x 3RRUSKVLFDOKHDOWKRULOOQHVV
x 3RRUEDFNJURXQGLQWHUPVRISUHYLRXVOHDUQLQJDQGJHQHUDONQRZOHGJHDERXWWKH
VXEMHFWRIFRPPXQLFDWLRQ
x 3RRU PHQWDO KHDOWK DQG LPSURSHU SVFKRORJLFDO PDNHXS OLNH DIIHFWHG ZLWK
SUHMXGLFHV LQDWWHQWLRQ IHHGLQJ RI LQVHFXULW DQ[LHW GHSUHVVLRQ DQG
GLVVDWLVIDFWRUHWF
x +DQGLFDSSHGLQXQGHUVWDQGLQJWKHVPEROLFH[SUHVVLRQYHUEDOLVPDQGJUDSKLFDO
UHSUHVHQWDWLRQHWF
;)(%5(.1644).(.)
7KH URRWV RI WKHVH EDUULHUV OLH LQ WKH HQYLURQPHQWDO FRQGLWLRQV SUHYDLOLQJ DW WKH WLPH RI
FRPPXQLFDWLRQ7KHVHFRQGLWLRQVFDQEHQDPHGDVXQGHU
x 1RLVHDQGRWKHUVLPLODUGLVWUDFWHUV
x 3ROOXWHGHQYLURQPHQW
x ,QYLVLELOLW
x (QYLURQPHQWDQGSKVLFDOGLVFRPIRUW
x ,PSURSHU IXQFWLRQLQJ RI WKH FRPPXQLFDWLRQ FKDQQHOV LQYROYLQJ DXGLR YLVXDO
PDWHULDOVDQGHTXLSPHQWV

x /DFN RI SURSHU PRWLYDWLRQ LQFHQWLYHV ]HDO DQG HQWKXVLDVP QHHGHG WR UHPDLQ
DFWLYHIRUWKHVHQGHUDQGUHFHLYHUVLQWKHSURFHVVRIFRPPXQLFDWLRQ

'/0+11
BBBBBBBBBBBWSHRIFRPPXQLFDWLRQLQYROYHVDODUJHQXPEHURISHRSOHRQLQGLYLGXDO

D VPDOOJURXSE ODUJHJURXSF PLGGOHJURXSG QRQHRIWKHDERYH

BBBBBBBBBBBBBBBBWHFKQRORJVKRXOGEHPDGHXVHRILQSURYLGLQJHIIHFWLYHFRPPXQLFDWLRQLQ
FODVVURRPWHDFKLQJ

D /HDUQLQJE (GXFDWLRQDOF 7HDFKLQJG QRQHRIWKHDERYH

#########################################################

RPPXQLFDWLRQSODVDQHIIHFWLYHDQGHVVHQWLDOUROHIRUUXQQLQJWKHVKRZRIDQIRUPDO
DQGLQIRUPDOWHDFKLQJOHDUQLQJSURFHVV,QPDQRILWVZDWHDFKLQJLVFRPPXQLFDWLQJDQGLQ
WKLVVHQVHJRRGWHDFKHUVDUHDOZDVJRRGFRPPXQLFDWRUV
7KH SURFHVV RI LQWHUSHUVRQDO FRPPXQLFDWLRQ LV ERWK DQ DUW DQG D VFLHQFH 7KH DUW RI
FRPPXQLFDWLRQ KDV LWV URRWV LQ WKH SULQFLSOHV RI SVFKRORJ DQG WKH VFLHQFH LQ WKH XVH RI
WHFKQRORJIRUFRPPXQLFDWLRQ

7KHQDWXUHIRUPVDQGVWOHVRIFRPPXQLFDWLRQLVYHUPXFKGHSHQGHQWXSRQWKHQDWXUH
DQGWSHVRIPHGLDRUFRPPXQLFDWLRQFKDQQHOVXVHGEWKHVHQGHUDQGUHFHLYHUV*HQHUDOOZH
FDQ FODVVLI FRPPXQLFDWLRQ LQWR WKH IROORZLQJ EURDG FDWHJRULHV LQ WHUPV RI WKH XVH RI WKH
GLIIHUHQWFRPPXQLFDWLRQPHGLDRUFKDQQHOV7KHDUH9HUEDODQG1RQ9HUEDORPPXQLFDWLRQ
1DWXUDODQG0HFKDQLFDORPPXQLFDWLRQ
7HDFKHUVVKRXOGNQRZVHYHUDOWKLQJVDERXWFRPPXQLFDWLRQODVVURRPVDUHVHWXSIRUWKH
SXUSRVHRIFRPPXQLFDWLQJDQGQRWIRUGLFWDWLQJWHDFKHU¶VLGHDVRQWKHRXQJDQGJURZLQJPLQGV
'HYHORSLQJ FRPPXQLFDWLRQ VNLOOV LQ FKLOGUHQ LV WKH EDVLF FRQFHUQ RI WKH VFKRRO DQG KHQFH
WHDFKHUVPXVWSURYLGHZDVDQGPHDQVRIGHYHORSLQJDQGLPSURYLQJWKHVNLOOV

=
:KDWLVFRPPXQLFDWLRQ
/LVWGRZQWKHHOHPHQWVRIFRPPXQLFDWLRQ
:KDWDUHWKHWSHVRIFRPPXQLFDWLRQ
:ULWHVKRUWQRWHRQJURXSDQGPDVVFRPPXQLFDWLRQ
'HVFULEHWKHZDVDQGPHDQVRIGHYHORSLQJFRPPXQLFDWLRQVNLOOVDWVFKRROV
+RZFDQZHRYHUFRPHWKHEDUULHUVRIFRPPXQLFDWLRQ
'UDZDFRPPXQLFDWLRQFFOH

B8A0
##########################################################
G
F
G
D
E
F


##########################################################

.XPDU ./ 1HZ 'HOKL 1HZ $JH ,QWHUQDWLRQDO
3XEOLVKHUV
(OL]DEHWK0(6 1HZ'HOKL'LVFRYHU3XEOLVKLQJ
KRXVH
'DVK%1 'HOKL'RPLQDQW3XEOLFDWLRQVDQG'LVWULEXWRUV
$PEHGNDU 9 2UDWKDQDG $QQDYHHUD
3XEOLVKHUV

BA

,QWURGXFWLRQ
2EMHFWLYHV
/LVWHQLQJVNLOO
6XEVNLOOVRI/LVWHQLQJ3KDVHV,PSRUWDQFHRI/LVWHQLQJ
!%$+ ( ,
$FWLYLWLHVWRGHYHORSLQJ/LVWHQLQJ6NLOO
6SHDNLQJ6NLOO,PSRUWDQFH%DUULHUVWR6SHDNLQJVNLOO
5HDGLQJ6NLOO,PSRUWDQFH3URFHVVLQYROYHGLQUHDGLQJ
7SHVRIUHDGLQJ%DUULHUVWRUHDGLQJ
:ULWLQJVNLOOLPSRUWDQFH
KDUDFWHULVWLFVRIJRRGZULWLQJ%DUULHUVWRZULWLQJVNLOO
/HW8V6XP8S
8QLWHQG$FWLYLWLHV
6XJJHVWHG5HDGLQJV
$

/DQJXDJHOHDUQLQJLVDVNLOO$ODQJXDJHFDQEHOHDUQWEDQLQGLYLGXDOQRWVLPSOE
NQRZLQJDERXWWKHODQJXDJHEXWEXVLQJLW,QUHFHQWHDUVWKHHPSKDVLVKDVEHHQVKLIWHGWRWKH
WHDFKLQJRIODQJXDJHDVDPHDQRIFRPPXQLFDWLRQIURPWKHWHDFKLQJRIODQJXDJHDVDVVWHP,W
KDV UHVXOWHG LQ WHDFKLQJ RI ODQJXDJH DV GHYHORSLQJ WKH IRXU ODQJXDJH VNLOOV YL] /LVWHQLQJ
VSHFNLQJ5HDGLQJDQGZULWLQJ

$

$IWHUUHDGLQJWKLVOHVVRQRXZLOOEHDEOHWR
x NQRZWKHEDVLVVNLOOVRIDODQJXDJH
x XQGHUVWDQGWKHVXEVNLOOVRIOLVWHQLQJDQGVSHFNLQJ
x NQRZZKDWLVUHDGLQJ
x XQGHUVWDQGWKHWSHVRIUHDGLQJ
x GLVWLQJXLVKEHWZHHQLQWHQVLYHUHDGLQJDQGH[WHQVLYHUHDGLQJ
x XQGHUVWDQGWKHPHFKDQLFVRIZULWLQJ
x XQGHUVWDQGWKHSURFHVVLQYROYHGLQZULWLQJ
x NQRZWKHFKDUDFWHULVWLFVRIJRRGKDQGZULWLQJ
x XQGHUVWDQGWKHZDVDQGPHDQVRIGHYHORSLQJWKHVHVNLOOVRXUVWXGHQWV
$ A

/LVWHQLQJ LV WKH DELOLW WR XQGHUVWDQG ZKDW RWKHUV VSHDN RU VD ,Q WKH SURFHVV RI
FRPPXQLFDWLRQ ZH ILQG ERWK WKH VSHDNHU DQG WKH OLVWHQHU 7KH WZR VNLOOV µOLVWHQLQJ¶ DQG
µVSHDNLQJ¶DUHLQWHUGHSHQGHQW7KHUHFDQQRWEHDQOLVWHQLQJZLWKRXWVRPHRQHVSHDNLQJ:KHQ
VRPHRQHVSHDNVWKRVHDURXQGKLPOLVWHQ7KHOLVWHQHUXQGHUVWDQGVWKHPHVVDJHRIWKHVSHDNHU
DQGJUDVSVWKHVWUHVVSDXVHLQWRQDWLRQDQGWKHSDWWHUQRISURQXQFLDWLRQLQKLVVSHHFK7KLVLQ
WXUQKHOSVWKHOLVWHQHUDFTXLUHWKHKDELWRIVSHDNLQJLQWKHODQJXDJHPHDQLQJIXOO

$$51/.%%16 .1).)+

6XEVNLOOVFDQEHXQGHUVWRRGDVWKHSXSLO VFRPSHWHQFLHVH[SUHVVHGLQEHKDYLRXUDOWHUPV
7KHDUHDOVRNQRZQDVHQDEOLQJVNLOOV3XSLOVDFTXLUHWKHVHVNLOOVZKHQWKHDUHSURYLGHGZLWK
DPSOHRSSRUWXQLWLHVWROLVWHQWRJRRGPRGHOVRIVSRNHQ(QJOLVK

5LFKDUGV LGHQWLILHG DV PDQ DV PLFUROHYHO VXEVNLOOV LQ OLVWHQLQJ WKDW WKH
VWXGHQWVRI(QJOLVKLQDVHFRQGODQJXDJHVLWXDWLRQDUHH[SHFWHGWRPDVWHUWRXQGHUVWDQGWKHGD
WRGD FRQYHUVDWLRQDO GLVFRXUVH 7KHVH VNLOOV DUH LQGLVSHQVDEOH WR GHYHORS OLVWHQLQJ IRU
FRPSUHKHQVLRQ DQG OLVWHQLQJ IRU FRQYHUVDWLRQ 7KH IROORZLQJ DUH VRPH RI WKH VXEVNLOOV RI
OLVWHQLQJ
7KHSXSLOV
x XQGHUVWDQGWKHPHDQLQJVRIZRUGVSKUDVHVDQGVHQWHQFHV
x IROORZGLUHFWLRQVFRPPDQGVJLYHQEWKHVSHDNHU
x XQGHUVWDQG LQWRQDWLRQ SDWWHUQV VWUHVV SDXVHV LQ VSHHFK HWF ZKLFK SURYLGH FOXHV WR
XQGHUVWDQGWKHVSHDNHU VWRQHDQGLQWHQWLRQV
x XQGHUVWDQGVLPSOHGHVFULSWLRQVDQGQDUUDWLRQV
x XQGHUVWDQGWKHPHDQLQJRILQYHUWHGVWDWHPHQWV
x XQGHUVWDQGTXHVWLRQVDQGUHVSRQGWRWKHPVXLWDEO
x UHFRJQL]HFRKHVLYHGHYLFHVOLNH VXFKDV LQDGGLWLRQWR LQIDFW LQWXQHZLWK HWFXVHG
EWKHVSHDNHU

$$'(116%.1).)+

7KHPDFUROHYHOVXEVNLOOVLQOLVWHQLQJFDQEHOHDUQWEWKHSXSLOVHIIHFWLYHOZKHQWKH
SUDFWLFH WKHP NHHSLQJ LQ PLQG WKH SXUSRVH RI OLVWHQLQJ YL] OLVWHQLQJ IRU SHUFHSWLRQ
OLVWHQLQJIRUFRPSUHKHQVLRQDQGOLVWHQLQJIRUFRQYHUVDWLRQ

.1).)+64-')1.)

,QRUGHUWRPDNHWKHSXSLOVDFTXLUHWKHVHVNLOOVLQOLVWHQLQJWKHWHDFKHUVVKRXOGHQVXUHWKDW
WKHLUSXSLOV
x UHDOL]HWKHQHHGIRUOLVWHQLQJWR(QJOLVKLQWKHFODVVURRPDWWHQWLYHO
x UHDOL]HWKDWWKHFDQVSHDNZRUGVSKUDVHVRUVHQWHQFHVSURSHUOZKHQWKHOLVWHQWRWKHP
LQWHQVLYHO
x OLVWHQWRJRRGPRGHOVRISURQXQFLDWLRQLQ(QJOLVK

x XQGHUVWDQG ZKHQ WKH VSHDNHU VDV WKURXJK JHVWXUHV DFWLRQV DFWLYLWLHV EODFNERDUG
GUDZLQJVHWF
x HQMRDQGDSSUHFLDWHWKHUKPHDQGUKWKPSDWWHUQZKHQWKHOLVWHQWRVLPSOHSRHPV
VRQJVHWF
$$4-()6 .1).)+1/.%%1

7KHUH LV D FOHDU GLVWLQFWLRQ EHWZHHQ OLVWHQLQJ DQG KHDULQJ :H SD
FRQVFLRXV DWWHQWLRQ ZKHQ ZH OLVWHQ $ JRRG OLVWHQHU OHDUQV D ODQJXDJH PRUH HIIHFWLYHO DQG
HIILFLHQWO %XW ZKHQ ZH KHDU ZH GR QRW SD PXFK DWWHQWLRQ :H PD KHDU DQ VRXQG
FRQVFLRXVO RU XQFRQVFLRXVO DQG IRUJHW LW VRRQ /LVWHQLQJ ZLWK D SXUSRVH UHVXOWV LQ EHWWHU
FRPSUHKHQVLRQDQGUHWHQWLRQ7KHUHLVQRFRPPXQLFDWLRQZLWKRXWOLVWHQLQJ+HQFHOLVWHQLQJLV
VDLGWREHDEDVLFVNLOOIRUSHUFHSWLRQLQWKHSURFHVVRIOHDUQLQJDODQJXDJH
/LVWHQLQJ ZLWK D SXUSRVH ZLOO UHVXOW LQ EHWWHU FRPSUHKHQVLRQ DQG UHWHQWLRQ 7KHUH LV QR
FRPPXQLFDWLRQZLWKRXWOLVWHQLQJ+HQFHOLVWHQLQJLVVDLGWREHDEDVLFVNLOOLQWKHSURFHVVRI
OHDUQLQJDODQJXDJHXQGHUVWDQGWKHPHDQLQJVRIZRUGVSKUDVHVDQGVHQWHQFHVIROORZGLUHFWLRQV
FRPPDQGV JLYHQ E WKH VSHDNHU XQGHUVWDQG VLPSOH GHVFULSWLRQV DQG QDUUDWLRQV UHFRJQL]H
FRKHVLYHGHYLFHVOLNH VXFKDV LQDGGLWLRQWR LQIDFW LQWXQHZLWK HWFXVHGEWKHVSHDNHU
$2 A

7KHUH DUH VHYHUDO IDFWRUV WKH PDNH EDUULHUV WR OLVWHQLQJ 7KH DUH /LQJXLVWLF 3KVLFDO DQG
3VFKRORJLFDOIDFWRUV

$2 .)+.1.(1
,IDOLVWHQHU¶VODQJXDJHSURILFLHQFLVORZKHZLOOKDYHSUREOHPVLQOLVWHQLQJ:HNQRZ
WKDWVRPHZRUGVKDYHPRUHWKDQRQHVHQVHGHYHORSLQJRQWKHFRQWH[W,IWKHOLVWHQHUNQRZVRQO
RQHFRQWH[WLQZKLFKWKHZRUGLVXVHGKHZLOOQRWXQGHUVWDQGZKDWWKHVSHDNHULVVDLQJ
6RPH OLVWHQHUV PD QRW VHHN FODULILFDWLRQV EHFDXVH WKH PD IHHO VK RU DIUDLG WR DVN WKH
PHDQLQJRIDZRUG2UWKHPDWKLQNWKDWWKHVKRXOGQRWDVNPHDQLQJRIZRUGVEHFDXVHWKH
DUH H[SHFWHG WR NQRZ WKHP 7KH PD IHHO WKDW WKHPD FXW D VRUU ILJXUH LI WKH DVN VXFK
TXHVWLRQV

6RPHZRUGVDUHXVHGWHFKQLFDOODQGWKHKDYHVSHFLDOPHDQLQJLQWKHVXEMHFWFRQFHUQHG
)RUH[DPSOHWKHZRUGµPRXVH¶LVNQRZQWRDOORIXV,WUHIHUVWRDVPDOOURGHQW%XWWKHVDPH
ZRUGLVXVHGWRUHIHUWRDQLQSXWGHYLFHZKLOHWDONLQJDERXWFRPSXWHUV(YHURQHPDQRWEH
IDPLOLDUZLWKWHFKQLFDOMDUJRQ

$2'31.(%(1
7KH HQYLURQPHQW LQ ZKLFK WKH FRPPXQLFDWLRQ LV WDNLQJ SODFH DOVR DIIHFWV OLVWHQLQJ
3XEOLFSODFHVOLNHFLQHPDKDOOSDUNVVKRSSLQJPDOOVZRUNVKRSVDQGPDQXIDFWXULQJXQLWVDUH
XVXDOOQRLV ,QVXFKSODFHVKRZHYHUKDUGWKHVSHDNHUVKRXWVDQGKRZHYHUKDUGWKHOLVWHQHU
VWUDLQVKLVKHUHDUVWKHUHPDQRWEHHIIHFWLYHFRPPXQLFDWLRQ
6RPHWLPHV WKHUH DUH DOVR WHFKQRORJLFDO GLVWXUEDQFH DIIHFWLQJ OLVWHQLQJ )RU H[DPSOH
VRPHWLPHVWKHEURDGFDVWLQJEWZRGLIIHUHQWUDGLRVWDWLRQVLVKHDUGDWWKHVDPHWLPHPDNLQJ
OLVWHQLQJWRDQRIWKHEURDGFDVWVGLIILFXOW
$213'%+.(%(1
3VFKRORJLFDOIDFWRUVDIIHFWLQJOLVWHQLQJLQFOXGHODFNRILQWHUHVWDWWLWXGHLPSDWLHQFHDQG
RYHUHQWKXVLDVP
(/6.)1
7KHUHDUHVRPHVWXGHQWVDWWHQGWKHFODVVMXVWIRUWKHVDNHRIDWWHQGDQFHRUWRVDWLVIWKH
WHDFKHU7KLVODFNRILQWHUHVWLQWKDWWHDFKHU¶VFODVVPDKDYHGHYHORSHGEHFDXVHWKHWHDFKHULV
YHUVWULFWRUQRWFOHDURUIRUVRPHRWKHUUHDVRQ,QRWKHUZRUGVODFNRILQWHUHVWDIIHFWVOLVWHQLQJ
+(.(.*()*6%.)+1
7KH DWWLWXGH WRZDUGV D SHUVRQ DOVR PDWWHUV ZKHQ ZH DUH OLVWHQLQJ WR KLP ,I ZH KDYH
QHJDWLYH DWWLWXGH WRZDUGV WKH VSHDNHU ZH WU QRW WR XQGHUVWDQG KLP RU PLVXQGHUVWDQG KLP
6LPLODUO RXU IHHOLQJV DERXW D SHUVRQ LQIOXHQFH RXU OLVWHQLQJ )RU H[DPSOH ,I ZH GLVOLNH D
SHUVRQ ZH XQGHUVWDQG KLP DW DOO ,I ZH OLNH D SHUVRQ YHU PXFK HYHQ LI WKH SHUVRQ WDONV
QRQVHQVHZHWUWRJLYHLWDVHQVLEOHPHDQLQJDQGIHHOKDSS
4-(.)()*)'1.(14
$OLVWHQHUQHHGVDORWRISDWLHQFH%XWSHRSOHZKRWKLQNWRRPXFKRIWKHPVHOYHVDQGDUH
RYHUFRQILGHQWXVXDOOGRQRWKDYHSDWLHQFH7KHWKLQNWKDWWKHNQRZPRUHWKDQWKHVSHDNHUDQG
WKH FDQ VSHDN EHWWHU WKDQ KLP 7KH MXPS WR FRQFOXVLRQV LPPHGLDWHO EDVHG RQ WKHLU RZQ
NQRZOHGJHDERXWWKHVXEMHFW7KHUHIRUHLQVWHDGRIOLVWHQLQJWRWKHVSHDNHUSDWLHQWOWKHWUWR

ILOOLQZRUGVIRUWKHVSHDNHUGLVWUDFWLQJWKHVSHDNHURUWKHGLVWXUEWKHSHUVRQVLWWLQJQH[WWRWKHP
EWDONLQJDERXWWKHVDPHWRSLF
$7 A

L %HDWWHQWLYHQRWHWKHVRXQGVWUDLQRXUHDUV
LL (DUWUDLQLQJKHOSVLQOLVWHQLQJQRWHWKHVWUHVV
LLL +HDULQJVRXQGVDQGVHSDUDWLQJWKHPLQSLWFKLVJRRG
LY 'HYHORSLQJDIHHOLQJIRUWKHQHZODQJXDJH
Y *RRGOLVWHQLQJKDELWXOWLPDWHOPDNHVDJRRGVSHDNHU
YL +DYHSUDFWLFHLQOLVWHQLQJIURPWDONVUDGLR79HWF
YLL 'RQ¶WDOORZLQWHUUXSWLRQVLQOLVWHQLQJ(QJOLVK
YLLL +DYHJRRGPRGHOVRIVSHHFKEHIRUHRXVSHDN

'/0+11


$JRRGBBBBBBBBBBBBBBOHDUQVDODQJXDJHPRUHHIIHFWLYHODQGHIILFLHQWO
D VSHDNHUE OLVWHQHUF YLHZHUG ZULWHU

$QHHGVDORWRISDWLHQFH
D OLVWHQHUE GRFWRUF UHFHLYHUG VHQGHU

$9 A A

7KHPRVWLPSRUWDQWDPRQJWKHIRXUVNLOOVRIDODQJXDJHLVVSHDNLQJRUVSHHFK0RVWOWKH
QHHG WR OHDUQ D QHZ ODQJXDJH DULVHV RQO ZKHQ RQH LV IDFHG ZLWK D VLWXDWLRQ ZKHUH RQH LV
UHTXLUHGWRFRQYHUVHLQDQHZODQJXDJH:KHQRQHLVDEOHWRVSHDNIOXHQWOWKHQH[WVWDJHWREH
PDVWHUHGLVRIQDUUDWLRQZKLFKGHSHQGVRQVXLWDEOHZRUGVRUYRFDEXODUDQGFRUUHFWVHQWHQFH
VWUXFWXUHV

$9 A 8

,WLVYHUQHFHVVDUWRKDYHWKHSURSHUWUDLQLQJLQWKHVSHDNLQJRISDUWLFXODUODQJXDJH
,PSRUWDQFHRIWKLVDUWLVZHOOUHFRJQL]HG,WLVDQHVVHQWLDOSDUWRIWKHSHUVRQDOLWRIDQLQGLYLGXDO
,WDGGVWRWKHLPSUHVVLRQFDXVHGEDSHUVRQDOLW7KHPRUHDSHUVRQLVHIILFLHQWLQVSHDNLQJDQG
FRQYHUVDWLRQWKHPRUHKHVKDOOEHDEOHWRDWWUDFWRWKHUV%ZRUGVZHFDQDVVHVVWKHNQRZOHGJH
RIDSHUVRQDQGKLVWKLQNLQJ7KURXJKWKHFRQYHUVDWLRQZHDUHDEOHWRKDYHWKHNQRZOHGJHRIWKH
SKLORVRSKRIDSHUVRQDQGKLVVRFLDODQGFXOWXUDOVWDQGDUGV
'((.1.16+*)1(.)1-(/.)+)+%.1'

*LYHQEHORZDUHWKHUHTXLVLWHHOHPHQWVRIDJRRGVSHHFK

1DWXUDOQHVV
ODULW
)OXHQF
$XGLELOLW
RPSUHKHQVLELOLW
(IIHFWLYHQHVV

6FKRODUV KDYH VDLG WKDW WKHVH DUH WKH UHTXLVLWH HOHPHQWV RI JRRG VSHDNLQJ ,W LV QRW
SRVVLEOHWRGHYHORSDOOWKHVHTXDOLWLHVDWDWLPH,WLVDOVRSRVVLEOHWKDWDSHUVRQPDQRWKDYHDOO
WKRVHTXDOLWLHVLQKLP6XFK(QJOLVKNQRZLQJSHRSOHVKDOOEHUDUHZKRKDYHDOOWKHVHTXDOLWLHVLQ

WKHP (YHQ WKHQ WKH WHDFKHU VKRXOG WU WR GHYHORS WKHVH TXDOLWLHV LQ WKH VWXGHQWV ,W LV TXLWH
SRVVLEOHWKDWDOOWKHVHTXDOLWLHVPDQRWGHYHORSVLPXOWDQHRXVODQGHTXDOO%XWGLOLJHQFHDQG
SUDFWLFHFDQKHOSDORW

$9 A A

7KHUHDUHVRPHEDUULHUVWKDWKLQGHUWKHSURFHVVRIVSHDNLQJDOZDV7KHDUH
L /DFNRIPDVWHURYHUWKHODQJXDJH
LL ,QGLYLGXDOGLIIHUHQFHVDPRQJWKHSXSLOV
LLL (PRWLRQDOIDFWRUVDQG
LY 3KVLFDOFRQGLWLRQV
/HWXVOHDUQRQHERQH
(/64(13'%()+(+

6LQFH (QJOLVK LV DQ DGGLWLRQDO ODQJXDJH ZKLFK WKH SXSLOV OHDUQ EHVLGHV WKHLU PRWKHU
WRQJXHWKHILQGLWGLIILFXOWWRH[SUHVVWKHLULGHDVDQGIHHOLQJVSURSHUOLQWKH(QJOLVKODQJXDJH
'XHWRODFNRIPDVWHURYHUWKHODQJXDJHWKHSXSLOVILQGLWGLIILFXOWWRFRPSUHKHQGWKHPHVVDJH
DQGWRUHVSRQGWRWKHPHVVDJHLQWKHSURFHVVRIFRPPXQLFDWLRQ
)*..*(%*.66)1(4)+'--.%1
7KH SXSLOV ZKR DUH LQYROYHG LQ WKH SURFHVV RI FRPPXQLFDWLRQ FDPH IURP GLIIHUHQW
EDFNJURXQGVRINQRZOHGJHH[SHULHQFHKRPHHQYLURQPHQWVRFLRHFRQRPLFVWDWXVRISDUHQWVHWF
EXWDOOWKHVHSXSLOVSHUFHLYHWKHVDPHLQIRUPDWLRQIURPWKHWHDFKHU6LQFHWKHSXSLOVFRPHIURP
GLIIHUHQWEDFNJURXQGVWKHGLIIHULQWKHLUSHUFHSWLRQVDOVR7KHVHGLIIHUHQFHVDIIHFWWKHSURFHVV
RIFRPPXQLFDWLRQ
4.)(%6(1
(PRWLRQDOIHHOLQJVOLNHDQJHUIHDUMHDORXVHWFEWKHWHDFKHUWKURXJKWKHPHVVDJHDOVR
DIIHFWWKHSURFHVVRIFRPPXQLFDWLRQDGYHUVHO:KHQWKHWHDFKHUVH[KLELWWKHLUSHUVRQDOIHHOLQJV
LQ WKH SURFHVV RI FRPPXQLFDWLRQ WKH FDQQRW GHYHORS WKH VNLOOV RI FRPPXQLFDWLRQ SURSHUO
DPRQJWKHLUSXSLOV

'31.(%)*..)1

8QSOHDVDQW VXUURXQGLQJV RI WKH VFKRROV ODFN RI SKVLFDO IDFLOLWLHV LQ WKH VFKRRO
XQIDYRUDEOHDWWLWXGHRIWKHOHDUQHUVDWWKHUHFHLYLQJHQGHWFDUHVRPHRIWKHIRUFHVWKDWDIIHFWWKH
SURFHVVRIFRPPXQLFDWLRQ

'/0+11


7KHPRVWLPSRUWDQWDPRQJWKHBBBBBBBVNLOOVRIDODQJXDJHLVVSHDNLQJ
D WZRE WKUHHF ILYHG IRXU

BBBBBBBBBBBBBBBBLVDQDGGLWLRQDOODQJXDJHZKLFKWKHSXSLOVOHDUQEHVLGHVWKHLUPRWKHUWRQJXH
D 7DPLOE +LQGLF (QJOLVKG *HUPDQ

$: A
7KH ZRUG ¶UHDGLQJ¶ LPSOLHV UHDGLQJ ZLWK FRPSUHKHQVLRQ 5HDGLQJ FRPSUHKHQVLRQ LQYROYHV
XQGHUVWDQGLQJ WKH PHDQLQJ RI FRQWHQW YRFDEXODU VWUXFWXUHV FRQFHSWV DQG UHODWLRQVKLSV RI
LGHDV5HDGLQJOLNHOLVWHQLQJLVDGHFRGLQJSURFHVV%XWLWLVDYHUFRPSOH[SURFHVVLQYROYLQJ
PDQ SKVLFDO LQWHOOHFWXDO DQG RIWHQ HPRWLRQDO UHDFWLRQV 0RUHRYHU LW HQWDLOV WKH DELOLW WR
UHFRJQL]HJUDSKLFVPEROVDQGWKHLUFRUUHVSRQGLQJYRFDOVRXQGV

$: A

2IWKHIRXUODQJXDJHVNLOOVOLVWHQLQJVSHDNLQJUHDGLQJDQGZULWLQJUHDGLQJLVWKHPRVW
LPSRUWDQWVNLOOWREHGHYHORSHGDPRQJWKHSXSLOV,WLVWKHJDWHZDWROHDUQLQJ7KHUHDGLQJVNLOO
LVGLUHFWOFRQQHFWHGZLWKRUDODSSURDFKWRWKHWHDFKLQJRI(QJOLVK,WLVUHDGLQJZKLFKJLYHVWKH
SXSLOVIXOOFRQWURORYHUWKHZRUGVDQGSDWWHUQVZKLFKWKHILUVWFRPHDFURVVGXULQJWKHSURFHVVRI
VSHDNLQJ
$: A

5HDGLQJLVDSURFHVVRIORRNLQJDWZULWWHQRUSULQWHGVPEROVDQGWUDQVODWLQJWKHPLQWR
DSSURSULDWH VRXQG FRPSRQHQWV 7KHVHV VSRNHQ VPEROV DUH DVVRFLDWHG ZLWK WKH REMHFWV ZKLFK
WKH VWDQG IRU 7KXV µUHDGLQJ¶ FRQVLVW RI WKUHH LPSRUWDQW HOHPHQWV QDPHO WKH VPERO WKH
VRXQGDQGWKHVHQVH7KHVHWKUHHHOHPHQWVRIUHDGLQJFDQEHUHSUHVHQWHGEWKHWKUHHYHUWLFHVRI
DWULDQJOHDVVKRZQKHUHXQGHU
7KUHHµ6¶VRI5HDGLQJ
6PERO

RXQG 6HQVH

)RUH[DPSOHZKHQWKHSXSLOZDQWVWRUHDGDZRUGOLNHµEXLOGLQJ¶KHXQGHUJRDOOWKHWKUHHVWDJHV
LQUHDGLQJ)LUVWWKHFKLOGORRNVDWWKHVPERO WKHREMHFW WUDQVODWHVLWLQWRDVSHFLILFVRXQG
SDWWHUQWKDWVWDQGVIRUWKHREMHFWDQGWKHQWULHVWRXQGHUVWDQGWKHPHDQLQJRIWKHZRUGµEXLOGLQJ¶
7KLVLVKRZWKHSXSLOXQGHUWDNHVWKHSURFHVVRIµUHDGLQJ¶

$0

'HSHQGLQJRQWKHQDWXUHDQGSXUSRVHUHDGLQJPDEHFODVVLILHGLQWRYDULRXVFDWHJRULHV
G.F *(*.)+
0XFKRIWKHUHDGLQJWREHGRQHDWWKHHDUOVWDJHZLOOEHUHDGLQJDORXG,WLVQHFHVVDUWR
HQVXUHWKDWWKHFKLOGDVVRFLDWHVWKHVSRNHQZRUGZLWKWKHSULQWHGVPEROVFRUUHFWO
5HDGLQJDORXGRUORXGUHDGLQJSURYLGHVSUDFWLFHLQJRRGVSHHFKKDELWVDPRQJWKHFKLOGUHQ
DQGJLYHVDQRSSRUWXQLWIRUWKHWHDFKHUWRILQGRXWZKHWKHUWKHFKLOGUHQDUHDEOHWRUHDGZLWK
FRUUHFWVWUHVVLQWRQDWLRQDQGSURQXQFLDWLRQRUQRW/RXGUHDGLQJDOVRKHOSVLQLQFXOFDWLQJLQWKH
FKLOGUHQWKHULJKWKDELWVRIUHDGLQJLQZRUGJURXSV
G..F.%)(*.)+

$ORQJZLWKWKHDELOLWWRUHDGDORXGWKHFKLOGUHQPDEHHQFRXUDJHGWRUHDGVLOHQWO0RVW
RIWKHUHDGLQJGRQHDWWKHKLJKHUVWDJHRIOHDUQLQJZLOOEHRIWKLVQDWXUHRQO
7KHSXUSRVHRIVLOHQWUHDGLQJLVWRHQFRXUDJHWKHVWXGHQWVUHDGZLWKFRPSUHKHQVLRQ7KH
VSHHGLQVLOHQWUHDGLQJLVPRUHWKDQWKDWRIWKHVDPHLQUHDGLQJDORXG7KLVHQDEOHVWKHVWXGHQWV
WRUHDGPRUHPDWHULDOLQUHODWLYHOOHVVWLPHZKHQWKHUHDGDQWKLQJVLOHQWO
7KHIROORZLQJDUHWKHDGYDQWDJHVLQVLOHQWUHDGLQJ
D 6LOHQWUHDGLQJNHHSVWKHZKROHFODVVEXV
E ,WKHOSVWKHVWXGHQWVZRUNDWWKHLURZQSDFH
F ,WSUHSDUHVWKHVWXGHQWVIRULQGHSHQGHQWUHDGLQJ
...F))1.(*.)+..(%(*.)+
,QWHQVLYHUHDGLQJRUFULWLFDOUHDGLQJLVGRQHZKLOHWKHVWXGHQWVWUWRJDWKHUIDFWVRUDUULYHDW
VRPHFRQFOXVLRQVRQWKHEDVLVRIWKHIDFWV7KLVLVGRQHPRVWOZKHQWKHVWXGHQWVSUHSDUHIRUWKH
H[DPLQDWLRQV 7KLV NLQG RI UHDGLQJ LV GRQH ZLWK WKLQNLQJ DQG FRPSUHKHQVLRQ +HQFH LW LV
RWKHUZLVHNQRZQDV ULWLFDO5HDGLQJ RU 5HDGLQJIRURPSUHKHQVLRQ
G.F ;)1.(*.)+
([WHQVLYHUHDGLQJLVDNLQGRIZLGHUHDGLQJEDVHGRQWKHODUJHILHOGZKHUHIURPZHJDWKHU
WKH GHVLUHG LQIRUPDWLRQ IRU WKH SXUSRVH RI RXU VXUYHRU UHSRUW 7KLV LV DQ DGYDQFHG VWDJH LQ
UHDGLQJZKLFKHPSKDVL]HVWKHH[SDQVLRQRIYRFDEXODUDQGDGYDQFHGVNLOOVRIFRPSUHKHQVLRQ
0RVWRIWKHWLPHLWZRXOGEHVLOHQWUHDGLQJDQGLWLVDWWKLVOHYHOWKDWWKHVSHHGRIUHDGLQJEHJLQV
WRLQFUHDVH7KHVWXGHQWVVWDUWUHDGLQJLQGHSHQGHQWODWWKLVVWDJH7KHUHDGLQJDWWKLVVWDJHLV
QHHGEDVHGDQGKHQFHWKHUHDGLQJGHYHORSPHQWVKRXOGEHPXOWLGLPHQVLRQDOLQQDWXUH7KLVNLQG
RIUHDGLQJLVDOVRNQRZQDV 5HDGLQJIRULQIRUPDWLRQ 7KHVWXGHQWVPDEHHQFRXUDJHGWRUHDGD
JRRGQXPEHURIMRXUQDOVPDJD]LQHVQHZVSDSHUVHWFDSDUWIURPWKHLUSUHVFULEHGWH[WERRNV
$ 0
:H FDQ¶W VD WKDW RI WKHVH WZR WSHV RQH LV EHWWHU WKDQ WKH RWKHU DQG KHQFH PRUH
LPSRUWDQW7KHIDFWLVWKDWERWKWKHVHWSHVRIUHDGLQJDUHLPSRUWDQWLQWKHLURZQZDV
,Q,QGLDQ6FKRROVZHILQGWKDWPRUHVWUHVVLVODLGRQLQWHQVLYHUHDGLQJ7KHH[WHQVLYH
UHDGLQJ LV HQFRXUDJHG LQ D YHU IHZ VFKRROV ,QWHQVLYH UHDGLQJ VKRXOG VHUYH DUH PHDQV WR
H[WHQVLYHUHDGLQJ

;.116/.44.)+
6NLPPLQJRIDOHVVRQPHDQVJDWKHULQJWRJHWKHUVDOLHQWIDFWVFRQWDLQHGLQLW6NLPPLQJ
RIDSURVHSDUDJUDSKPHDQVJRLQJWKURXJKLWDQGFROOHFWLQJWKHPDLQSRLQWVFRQWDLQHGWKHUHLQ
6XUHOWKHUHDGHULVDEOHWRWDNHRXWWKHEHVWFRQWDLQHGWKHUHLQWKHOHVVRQRUWKHSDUDJUDSK
3UDFWLFHRIVNLPPLQJLVYHULPSRUWDQWIRUWKH VHQLRUVWXGHQWV ,WJLYHVWKHPDORWRI
FRQILGHQFH7KHPDLQSXUSRVHRIWKHSHUVRQLVWRDVVHPEOHPDLQWKLQJFRQWDLQHGWKHUH
;.116()).)+
6FDQQLQJ RI D ERRN RU D OHVVRQ RU D SDUDJUDSK PHDQV FROOHFWLQJ GHWDLOHG LQIRUPDWLRQ
FRQWDLQHGLQWKHVXEMHFWPDWWHU7KHUHDGHUJRHVWKURXJKWKHVXEMHFWPDWWHUZLWKVHDUFKLQJORRNV
+H6KHH[DPLQHVYHUWKLQJYHUFORVHO6RPXFKVRWKDWWKHUHDGHULVQRWDOORZHGWRLJQRUH
HYHQDVLQJOHGLIILFXOWZRUGFRQWDLQHGWKHUHLQ,QVFDQQLQJHYHUWKLQJJRRGRUEDGLVSRLQWHG
RXW(YHUWKLQJYHUREMHFWLYHODQGLQD$FUVFLHQWLILFPDQQHULVKLJKOLJKWHG
6FDQQLQJRIPDWHULDOVLVUHFRPPHQGHGIRUWKHVHQLRUVWXGHQWV,WWHDFKHUVWKHPWRFDOOD
VSDGHDVSDGH ,WDOVR GHYHORSVWKHKDELWRIZRUNLQJKDUG ,WDOVRKHOSVWKHPLQGHYHORSLQJ
VFLHQWLILFDWWLWXGHLQWKLQNLQJDQGXQGHUVWDQGLQJWKLQJVZKLFKLVYHULPSRUWDQWLQOLIH7KHWHQG
WRUHDGWKHVXEMHFWPDWWHUFDXWLRXVODQGFDUHIXOO
(.1(*.)+1/.%%
7KHIROORZLQJVDUHVRPHRIWKHEDUULHUVWRUHDGLQJVNLOO
L '31.(%6(1
3KVLFDO GHIRUPLWLHV RI WKHSXSLOV DIIHFW WKHLU UHDGLQJ QHJDWLYHO 7KH SXSLOV ZKR DUH
GHIHFWLYHLQKHDULQJPDQRWEHDEOHWRUHDGSURSHUO6LPLODUOWKHUHDUHVRPHSXSLOVZKR
KDYHSUREOHPVZLWKWKHLUVSHHFKVRXQGV7KHFDQQRWXWWHUVRXQGVSURSHUO
LL 4.)(%6(1
7KH HPRWLRQDO IDFWRUV LPEDODQFHV DPRQJ WKH VWXGHQWV DIIHFW WKHLU UHDGLQJ KDELWV
QHJDWLYHO6RPHVWXGHQWVZKRDUHVKVXEPLVVLYHZLWKGUDZQDJJUHVVLYHHWFDUHREVHUYHG
WREHQRWXSWRWKHPDUNLQGHYHORSLQJUHDGLQJVNLOO)XUWKHULWLVREVHUYHGWKDWDQ[LHWSODV
DQLPSRUWDQWUROHLQUHVSHFWRILQWHOOLJHQWVWXGHQWVZKRVHUHDGLQJSHUIRUPDQFHLVYHUKLJK
7KHVHVWXGHQWVPDVRPHWLPHVILQGDQHVFDSHIURPUHDGLQJZLWKZKLFKWKHDUHIULJKWHQHG
LLL ).)4)(%6(1
6RPH IDFWRUV OLNH FODVVURRP RUJDQL]DWLRQ WKH VWUHQJWK RI VWXGHQWV LQ WKH FODVV WKH
UHDGLQJHQYLURQPHQWWKHPHWKRGVIROORZHGEWKHWHDFKHUVLQGHYHORSLQJUHDGLQJVNLOOHWF

LQIOXHQFHWKHUHDGLQJVNLOORIWKHVWXGHQWVYHUPXFK
'/0+11

7KHBBBBBBBBBBBVNLOOLVGLUHFWOFRQQHFWHGZLWKRUDODSSURDFKWRWKHWHDFKLQJRI(QJOLVK
D UHDGLQJE VSHDNLQJF ZULWLQJG OLVWHQLQJ

BBBBBBBBBBBBBBBBBBBUHDGLQJLVDNLQGRIZLGHUHDGLQJ
D ,QWHQVLYHE 2UDOF ([WHQVLYHG /RXG

$=B A

2XWRIWKHIRXUVNLOOVLQODQJXDJHOHDUQLQJµZULWLQJLVDYHULPSRUWDQWVNLOODVLWVHUYHV
DVWKHPHGLXPWKURXJKZKLFKZHFRPPXQLFDWHRXULGHDVWKRXJKWVRUIHHOLQJVWRRWKHUSHRSOH
ZKR DUH DW D GLVWDQFH IURP XV ,Q IDFW ODQJXDJH OHDUQLQJ LV VDLG WR EH LQFRPSOHWH ZLWKRXW
GHYHORSLQJWKHVNLOORIZULWLQJ

$= B A
)RUDVHFRQGODQJXDJHOHDUQHUZULWLQJLQWKHVHFRQGODQJXDJHLVXVHGIRUVSHFLILFSXUSRVHV
ZKHUHDVKLVPRWKHUWRQJXHRU/DQJXDJH / LVXVHGIRUDOORWKHUJHQHUDOSXUSRVHV3URILFLHQF
LQZULWLQJLQWKHVHFRQGODQJXDJHLVUHTXLUHG
x WRFRPPXQLFDWHWRWKHRWKHUSHUVRQVLQWKHZULWWHQPHGLXPZKHQWKHFDQQRWEHVSRNHQ
WRGLUHFWO
x WRPDNHDUHFRUGRIHYHQWVLQDVSHFLILFILHOG
x WR SUHSDUH GRFXPHQWV UHFRUGV UHSRUWV HWF ZKLFK PD EH XVHG DV UHIHUHQFHV LQ WKH
IXWXUH
x WRJLYHDQHYLGHQFHRUWHVWLPRQLQWKHIRUPRIDZULWWHQGRFXPHQW

:ULWLQJDLPVDWIDFLOLWDWLQJFOHDUDQGHIIHFWLYHFRPPXQLFDWLRQ,WWUDLQVRXUPLQGWKURXJK
RXUVHQVHVSDUWLFXODUOWKURXJKHHVDQGHDUV:HZULWHLQWKHZDZHVSHDNRUKHDUIURPRWKHUV
:ULWLQJGHYHORSVRXUPHPRUDQGWKHSURFHVVRIWKLQNLQJ,WGHYHORSVLQGLYLGXDODFWLYLW
8 B
¾ .QRZLQJKRZWRPDNHOHWWHUVRIULJKWVKDSHDQGVL]H
¾ .QRZLQJKRZWRJLYHSURSHUVSDFLQJEHWZHHQOHWWHUVZRUGVDQGOLQHV
¾ .QRZLQJKRZWRXVHFDSLWDOOHWWHUVDQGSXQFWXDWLRQPDUNVFRUUHFWO
¾ .QRZLQJKRZWRFRRUGLQDWHWKHPXVFOHVRIWKHZULVWZLWKWKRVHRIILQJHUVLQWDNLQJXS
ZULWLQJ
2QFHWKHSXSLOVDUHDZDUHRIWKHPHFKDQLVPVRIZULWLQJWKHZLOOEHDEOHWRZULWHFRUUHFWO
DQGOHJLEODWDUHDVRQDEOHVSHHG
'-11.)%*.),..)+
,WLVHYLGHQWWKDWWKHWHDFKLQJRIZULWLQJLVDFRPSOH[SURFHVVVROYLQJPDQDFWLYLWLHVVXFK
DV LQLWLDO SURELQJ LQWR H[SHULHQFHV RUJDQL]DWLRQ RI LGHDV LQWR PHDQLQJIXO VHTXHQFHV DQG
H[SUHVVLRQRIWKRXJKWVDQGIHHOLQJVZLWKFRQILGHQFHDQGHDVH
7KHSXSLOVPDEHDVNHGWRZULWHRQOWKRVHVWUXFWXUHVDQGYRFDEXODULWHPVWKDWWKHKDYH
SUDFWLVHG RUDOO :ULWLQJ VKRXOG EH WDNHQ XS MXVW DIWHU WKH FRPSOHWLRQ RI ZRUGUHFRJQLWLRQ
H[HUFLVHV7KHUHDUHYDULRXVDGYDQWDJHVLQGRLQJVR)LUVWOZULWLQJUHLQIRUFHVRUDODQGUHDGLQJ
ZRUN7KHODQJXDJHLWHPVOHDUQWDOUHDGJHWILUPOIL[HGLQWKHPLQGVRIWKHSXSLOV6HFRQGO
ZULWLQJSURYLGHVDFKDQJHRIDFWLYLWDQGWKXVKHOSVLQUHGXFLQJPRQRWRQ)LQDOOLWHQFRXUDJHV
SXSLOVWRWDNHXSFUHDWLYHZULWLQJLQWKHDUHDVRIWKHLUVFKRODUVKLS
51/.%%1.),..)+
:ULWLQJDLPVDWFOHDUDQGHIIHFWLYHFRPPXQLFDWLRQ,QRUGHUWRDFKLHYHWKLVDLPDQXPEHU
RIVXEVNLOOVLQZULWLQJDUHWREHGHYHORSHGDPRQJWKHVWXGHQWV
7KHIROORZLQJDUHVRPHRIWKHVXEVNLOOVLQZULWLQJ
9LVXDOSHUFHSWLRQ6SHOOLQJ3URQXQFLDWLRQDQG6SDFLQJ
6QWD[:RUGRUGHU6HQWHQFHVWUXFWXUH
2UJDQL]DWLRQ6HOHFWLQJWRSLFVXEWRSLFHWFDQGRUJDQL]LQJLGHDVLQWRSDUDJUDSKV
# *UDPPDU8VHRIDUWLFOHVSUHSRVLWLRQVYDULRXVIRUPVRIWHQVHVDQGWKHLUDJUHHPHQW

LANGUAGE ACROSS THE CURRICULUM.pdf

LANGUAGE ACROSS THE CURRICULUM.pdf

Recommended

Recommended

More Related Content

Similar to LANGUAGE ACROSS THE CURRICULUM.pdf

Similar to LANGUAGE ACROSS THE CURRICULUM.pdf (20)

Recently uploaded

Recently uploaded (10)

LANGUAGE ACROSS THE CURRICULUM.pdf