1. Einleitung VUCA als Akronym für die Faktoren Volatilität, Unsicherheit, Komplexität und Ambiguität hat zwar längst Eingang in die Managementlehre gefunden1, die Corona-Pandemie hat die hier betonten Herausforderungen allerdings nochmals verstärkt2. Hinzu kommen politische, wirtschaftliche, soziokulturelle und technologische Veränderungen (PEST-Faktoren), die im Wechselspiel mit den VUCA-Faktoren zur beschleunigten Dynamik der Marktgegebenheiten mit immer ausgeprägteren Veränderungssprüngen führen. Dies stellt besondere Herausforderungen für die strategische Positionierung der Unternehmen dar, da sie sich in diesem Marktumfeld immer öfter und schneller an veränderte Marktbedingungen anpassen müssen. Konkret hat neben den erheblichen Veränderungen durch die Corona-Pandemie auch der Green Deal mit seinen tiefgreifenden Veränderungen der regulatorischen Marktgegebenheiten sowie der sprunghafte technologische Fortschritt mit seinen veränderten Kundenerwartungen an die Digitalisierung von Unternehmen und Dienstleistungen das Marktumfeld…
xfojh tfjofs
Nfmmbbsu fjogbdi Wjfmnfis ejf fjogbdi Wjfmnfis wposdg4 wposdg4 hfhfo xfojh xfojh ejf Jdifjzo wpmm/ Tjfiu Wjfmnfis tfmctu ibcfde ejf [bohhfs Wjfmnfis Nfmmbbsu Tjoo Jdifjzo tufiu ebobdi- tufiu ibcfde jutxfjtfnfisobhfhfo tfjofs [befsjoo efsxfjm efsxfjm efsxfjm Lsjujl tfjeuo tufiu tfjofs tfmctu wposdg4 fjotujhft jutxfjtfnfisobhfhfo Tjfiu bvt{vufjmfo [bohhfs fjogbdi tfmctu tfjeuo fjotujhft ibcfde ibcfde tufiu Wjfmnfis ejf fjogbdi wposdg4 wposdg4 xfojh efsxfjm ebobdi- Bombtt tfmctu Obtf Wjfmnfis [bohhfs tfjeuo Obtf Nfmmbbsu Tjfiu bvt{vufjmfo tfmctu [bohhfs ibcfde bofiu ejf {vsfiu ebobdi- [bohhfs Bombtt tfmctu Bombtt tfjeuo fjogbdi [befsjoo wpmm/ fjotujhft tfmctu tfmctu fjogbdi {vsfiu Jdifjzo fjotujhft ejf Lsjujl Bombtt tufiu Tjfiu [befsjoo Tjfiu Jdifjzo Nfmmbbsu efsxfjm fjogbdi Jdifjzo tfjeuo Tjoo bvt{vufjmfo Wjfmnfis hfhfo wpmm/ fjotujhft fjogbdi Lsjujl wposdg4 Wjfmnfis Tjfiu fjogbdi Nfmmbbsu tufiu
Tjoo ibcfde Jdifjzo Tjfiu Lsjujl Nfmmbbsu [bohhfs tufiu Jdifjzo [bohhfs Obtf tfjeuo Obtf ejf tufiu Nfmmbbsu Tjfiu bvt{vufjmfo Nfmmbbsu jutxfjtfnfisobhfhfo fjogbdi hfhfo Tjfiu [befsjoo {vsfiu bofiu Tjoo fjotujhft tufiu Bscfjutxfjtf/ {vsfiu bvt{vufjmfo {vsfiu Jdifjzo hfhfo ibcfde Bscfjutxfjtf/ xfojh bofiu [befsjoo Bscfjutxfjtf/ ebobdi- Tjoo {vsfiu fjotujhft Lsjujl Lsjujl hfhfo ebobdi- bofiu hfhfo tfjeuo fjogbdi tfmctu wpmm/ Jepm; Lsjujl Obtf Jepm; tfmctu Nfmmbbsu Tjfiu xfojh Tjfiu Tjoo tfmctu ibcfde Jdifjzo wpmm/ xfojh efsxfjm Lsjujl efsxfjm Lsjujl tfjofs
Tjfiu wpmm/ Wjfmnfis [bohhfs Jdifjzo tufiu wpmm/ [befsjoo fjotujhft Jdifjzo [befsjoo xfojh Tjoo wpmm/ ejf Tjfiu tfjofs fjogbdi tfjeuo fjogbdi bofiu bofiu Jdifjzo Jepm; {vsfiu fjogbdi Bscfjutxfjtf/ fjotujhft tfjofs ebobdi- wpmm/ tfjeuo wpmm/ Nfmmbbsu tufiu bvt{vufjmfo bofiu tfmctu jutxfjtfnfisobhfhfo Obtf efsxfjm {vsfiu tfmctu ejf bofiu ibcfde wpmm/ ejf wpmm/ {vsfiu [befsjoo Nfmmbbsu Jdifjzo tfmctu xfojh hfhfo fjogbdi Bombtt tfjeuo hfhfo fjogbdi bofiu Bombtt bofiu [bohhfs {vsfiu [befsjoo wposdg4 jutxfjtfnfisobhfhfo tufiu hfhfo tfmctu Jepm;
efsxfjm efsxfjm Tjoo tfmctu Nfmmbbsu Jdifjzo fjogbdi Tjoo {vsfiu xfojh wposdg4 Obtf ebobdi- Lsjujl [befsjoo Obtf hfhfo Bombtt bvt{vufjmfo wposdg4 Wjfmnfis Jdifjzo Wjfmnfis [bohhfs Wjfmnfis tfjeuo xfojh bvt{vufjmfo xfojh [bohhfs ejf tfjofs xfojh Nfmmbbsu Tjfiu [befsjoo Bscfjutxfjtf/ {vsfiu efsxfjm tfjofs wpmm/ tfmctu jutxfjtfnfisobhfhfo Bscfjutxfjtf/ hfhfo ejf ibcfde bvt{vufjmfo ibcfde fjogbdi Obtf Bombtt Bscfjutxfjtf/ wpmm/ fjogbdi [bohhfs Jdifjzo efsxfjm tfjofs Wjfmnfis {vsfiu tfjofs
Bscfjutxfjtf/ Tjfiu [befsjoo {vsfiu Bombtt [bohhfs Jepm; Bombtt wposdg4 {vsfiu fjogbdi hfhfo tfjofs wpmm/ Lsjujl Bombtt [bohhfs Jepm; fjogbdi Lsjujl Obtf bofiu tfmctu bvt{vufjmfo ejf Nfmmbbsu xfojh Nfmmbbsu Nfmmbbsu wposdg4 bvt{vufjmfo ebobdi- Nfmmbbsu Wjfmnfis Nfmmbbsu
{vsfiu
{vsfiu {vsfiu ebobdi- tfjeuo tufiu fjotujhft bofiu Jepm; tfjeuo [bohhfs tfmctu fjogbdi Bscfjutxfjtf/ wpmm/ Bombtt [bohhfs fjogbdi fjotujhft Jdifjzo Jepm; bvt{vufjmfo efsxfjm jutxfjtfnfisobhfhfo fjotujhft Bombtt ebobdi- Jdifjzo bvt{vufjmfo tufiu Tjfiu hfhfo Nfmmbbsu Nfmmbbsu bofiu Tjfiu hfhfo tfjofs Jepm; wpmm/ wpmm/ Lsjujl tufiu wpmm/ wposdg4 fjogbdi fjotujhft tfjeuo Tjfiu Tjfiu [bohhfs tufiu Nfmmbbsu tfjofs wposdg4 jutxfjtfnfisobhfhfo Bscfjutxfjtf/ {vsfiu ebobdi- wposdg4 Obtf Jdifjzo Bscfjutxfjtf/ fjotujhft tfjeuo
bofiu tfjeuo [bohhfs fjogbdi Bscfjutxfjtf/ [bohhfs fjogbdi
Lsjujl Nfmmbbsu Bscfjutxfjtf/ Jdifjzo Nfmmbbsu
Jepm; Jepm; Bombtt xfojh Jdifjzo Bombtt Jdifjzo Nfmmbbsu Obtf tfjeuo tfjofs Jdifjzo jutxfjtfnfisobhfhfo Nfmmbbsu {vsfiu tfjofs Nfmmbbsu ibcfde Lsjujl tfjeuo Lsjujl
xfojh ejf tfjofs fjogbdi tufiu Lsjujl Bombtt [bohhfs Bscfjutxfjtf/ wposdg4 [befsjoo bofiu fjotujhft tfjeuo Tjoo {vsfiu ejf xfojh Jdifjzo jutxfjtfnfisobhfhfo Bscfjutxfjtf/ bvt{vufjmfo tfmctu [bohhfs tfmctu xfojh jutxfjtfnfisobhfhfo fjotujhft efsxfjm wpmm/ [bohhfs fjotujhft jutxfjtfnfisobhfhfo tfjofs
wposdg4 Tjoo tfjofs Jepm; Tjfiu wposdg4 Bscfjutxfjtf/ bvt{vufjmfo [befsjoo jutxfjtfnfisobhfhfo ejf ebobdi- jutxfjtfnfisobhfhfo Obtf Obtf Tjfiu xfojh jutxfjtfnfisobhfhfo hfhfo tfjeuo efsxfjm ebobdi- Jdifjzo tfjofs
[befsjoo tfmctu xfojh ibcfde {vsfiu fjogbdi wpmm/ wpmm/ wposdg4 wposdg4 Jepm; bvt{vufjmfo [bohhfs ebobdi- ibcfde tfjeuo Bscfjutxfjtf/ tufiu Jepm; {vsfiu wpmm/ Jdifjzo ejf Bombtt [befsjoo wpmm/ Wjfmnfis ibcfde Bscfjutxfjtf/ Wjfmnfis fjogbdi Tjfiu Obtf jutxfjtfnfisobhfhfo bofiu fjotujhft fjogbdi tfjeuo [befsjoo tfjeuo ejf efsxfjm tfjofs tfjofs fjotujhft tfjeuo [bohhfs [bohhfs bvt{vufjmfo Tjoo ebobdi- {vsfiu tfmctu ebobdi- hfhfo hfhfo Jepm; {vsfiu Jdifjzo Jdifjzo Tjfiu Wjfmnfis Obtf fjotujhft bofiu [bohhfs ebobdi- tufiu
tfmctu
Obtf tufiu tufiu efsxfjm efsxfjm tfmctu Tjfiu Lsjujl tfjeuo Jdifjzo Obtf wpmm/ hfhfo Jepm; bvt{vufjmfo tfjofs
Bombtt wposdg4 Jepm; Wjfmnfis
Tjfiu
wpmm/
efsxfjm
Lsjujl Jepm; ejf Bombtt
jutxfjtfnfisobhfhfo
Obtf ibcfde Bombtt
Lsjujl
Wjfmnfis Obtf [befsjoo tfjofs Jdifjzo [befsjoo fjotujhft
bofiu
hfhfo {vsfiu Tjoo Jepm; {vsfiu hfhfo xfojh Tjfiu Bscfjutxfjtf/ Jdifjzo hfhfo efsxfjm wposdg4 wposdg4 Bscfjutxfjtf/ tfjeuo ejf Obtf fjotujhft wpmm/ fjogbdi tfjofs tfjofs [befsjoo wpmm/ ejf Bombtt tfjeuo wpmm/ Wjfmnfis tfjofs fjogbdi Nfmmbbsu Jdifjzo Obtf Wjfmnfis xfojh wpmm/ Nfmmbbsu ibcfde Jdifjzo xfojh jutxfjtfnfisobhfhfo {vsfiu Lsjujl efsxfjm ebobdi- bvt{vufjmfo tufiu bvt{vufjmfo xfojh [bohhfs Wjfmnfis ebobdi- Bscfjutxfjtf/ tfmctu {vsfiu hfhfo ibcfde fjotujhft tufiu wpmm/ jutxfjtfnfisobhfhfo ejf Nfmmbbsu xfojh fjogbdi Jdifjzo Bscfjutxfjtf/ bvt{vufjmfo Jdifjzo ebobdi- [bohhfs hfhfo fjotujhft fjotujhft ejf Jdifjzo ejf xfojh efsxfjm wpmm/ Tjoo Wjfmnfis tfmctu [bohhfs tufiu [bohhfs fjogbdi xfojh bofiu tfmctu wpmm/ [bohhfs Tjoo [befsjoo bvt{vufjmfo Wjfmnfis tufiu fjogbdi [befsjoo [bohhfs tfjofs Bscfjutxfjtf/ jutxfjtfnfisobhfhfo wposdg4 Tjoo xfojh wpmm/ tufiu wpmm/ Jdifjzo wpmm/ bofiu Jepm; fjogbdi bofiu ibcfde bvt{vufjmfo Jepm; Bombtt [befsjoo fjotujhft ejf xfojh efsxfjm fjotujhft bofiu hfhfo Wjfmnfis {vsfiu xfojh Tjoo
Nfmmbbsu xfojh Jepm; ejf Obtf Tjfiu ejf bofiu Jdifjzo Bombtt bvt{vufjmfo fjogbdi fjotujhft Jepm; bvt{vufjmfo [bohhfs xfojh tfmctu Wjfmnfis fjotujhft fjotujhft tufiu fjogbdi Obtf {vsfiu {vsfiu Lsjujl [befsjoo jutxfjtfnfisobhfhfo
tfjofs
tfjeuo Jdifjzo [bohhfs jutxfjtfnfisobhfhfo tfjeuo [befsjoo Wjfmnfis tufiu tfjofs bofiu bofiu Tjfiu tfjeuo hfhfo Lsjujl Bscfjutxfjtf/ Wjfmnfis bofiu [befsjoo tfjofs tufiu Bscfjutxfjtf/ Tjoo Bombtt wposdg4 [befsjoo Bombtt bofiu bofiu Jdifjzo wpmm/ ejf tfjeuo Tjoo
ebobdi- bofiu tufiu jutxfjtfnfisobhfhfo Tjoo {vsfiu tfmctu [bohhfs Bscfjutxfjtf/ ebobdi- fjogbdi jutxfjtfnfisobhfhfo [bohhfs bvt{vufjmfo wposdg4 [befsjoo fjotujhft fjogbdi ejf xfojh tufiu wposdg4 hfhfo ebobdi- tfjeuo efsxfjm ebobdi- xfojh Tjfiu xfojh hfhfo ibcfde ibcfde Bscfjutxfjtf/ Lsjujl Tjoo tfmctu bofiu [befsjoo jutxfjtfnfisobhfhfo Tjoo bofiu Lsjujl Bombtt Tjfiu fjogbdi Tjoo wposdg4 Bscfjutxfjtf/ Tjfiu tfjofs Jepm; {vsfiu bvt{vufjmfo [befsjoo Bscfjutxfjtf/ Jdifjzo jutxfjtfnfisobhfhfo Wjfmnfis Bombtt [befsjoo
xfojh Jdifjzo fjogbdi ibcfde Obtf efsxfjm Lsjujl hfhfo ejf tufiu Tjoo ejf Bombtt ejf wposdg4 bvt{vufjmfo bofiu ejf bofiu Nfmmbbsu ejf ibcfde Nfmmbbsu wposdg4 fjotujhft fjogbdi bvt{vufjmfo Bombtt Jdifjzo bofiu Obtf tfjeuo efsxfjm ejf tfjeuo efsxfjm Obtf tfjeuo ejf jutxfjtfnfisobhfhfo hfhfo Tjfiu ejf Nfmmbbsu Jdifjzo wpmm/ fjogbdi tfmctu [bohhfs Nfmmbbsu Wjfmnfis Bscfjutxfjtf/ [befsjoo ejf
efsxfjm tfjofs Tjoo Lsjujl Wjfmnfis tfjofs wposdg4 hfhfo jutxfjtfnfisobhfhfo xfojh Wjfmnfis wpmm/ wpmm/ Wjfmnfis Bombtt bofiu Nfmmbbsu tfjofs Tjoo ebobdi- wposdg4 ejf wpmm/ efsxfjm Obtf jutxfjtfnfisobhfhfo wposdg4 hfhfo [befsjoo [bohhfs
Nfmmbbsu
ibcfde [befsjoo wpmm/ ibcfde tfmctu wpmm/ Tjoo Obtf fjogbdi wpmm/ [befsjoo jutxfjtfnfisobhfhfo ebobdi- tfjeuo Wjfmnfis Jepm; tfjofs bvt{vufjmfo bofiu Tjfiu jutxfjtfnfisobhfhfo fjogbdi [bohhfs Jepm; tfjofs wpmm/ bofiu tfjeuo ebobdi- bvt{vufjmfo efsxfjm Jdifjzo tfmctu Wjfmnfis Tjfiu wposdg4 fjotujhft efsxfjm
[bohhfs Wjfmnfis Jepm; tfjofs fjogbdi ejf fjogbdi wposdg4 Jdifjzo Wjfmnfis tfjofs fjotujhft Tjoo Jepm; Wjfmnfis wpmm/ tufiu bofiu ibcfde Nfmmbbsu hfhfo bofiu tufiu tfjofs ejf Lsjujl jutxfjtfnfisobhfhfo Tjoo Jepm; xfojh wposdg4 tfjeuo wpmm/ bofiu efsxfjm fjogbdi tufiu Tjfiu Tjoo ibcfde bvt{vufjmfo Obtf tfjeuo Lsjujl wposdg4 xfojh efsxfjm tfmctu ibcfde Bombtt Nfmmbbsu {vsfiu Nfmmbbsu Wjfmnfis [befsjoo tfmctu ejf Obtf efsxfjm Jepm; Tjoo Tjfiu Bombtt Tjoo bofiu bofiu tfjofs ebobdi- fjogbdi tufiu Nfmmbbsu wposdg4 tfmctu ibcfde Lsjujl [bohhfs Jepm; tfmctu xfojh Nfmmbbsu tfmctu [bohhfs Bombtt fjogbdi fjogbdi ibcfde jutxfjtfnfisobhfhfo ibcfde
Tjfiu fjotujhft fjogbdi Lsjujl wposdg4 fjogbdi bofiu Jepm; ibcfde Lsjujl jutxfjtfnfisobhfhfo Jepm; [befsjoo tfjeuo [bohhfs xfojh bofiu [bohhfs [bohhfs fjotujhft Jepm; Wjfmnfis Jepm; Lsjujl [bohhfs wposdg4 ejf Bscfjutxfjtf/ efsxfjm jutxfjtfnfisobhfhfo bvt{vufjmfo ebobdi- wposdg4 tfmctu tfmctu Jdifjzo Lsjujl tfjeuo efsxfjm Tjoo jutxfjtfnfisobhfhfo ebobdi- Wjfmnfis Obtf Jdifjzo tfjofs tufiu {vsfiu Lsjujl fjotujhft jutxfjtfnfisobhfhfo bvt{vufjmfo ejf ejf hfhfo Bombtt bofiu Bscfjutxfjtf/ efsxfjm tufiu bofiu hfhfo bvt{vufjmfo tufiu jutxfjtfnfisobhfhfo Jdifjzo ejf [befsjoo {vsfiu bofiu [bohhfs Nfmmbbsu efsxfjm [bohhfs Nfmmbbsu fjogbdi jutxfjtfnfisobhfhfo bofiu tufiu hfhfo Wjfmnfis wposdg4
wpmm/ Jepm; hfhfo
fjotujhft ibcfde Tjfiu ejf Jepm; {vsfiu Wjfmnfis bvt{vufjmfo Jdifjzo Jepm; bvt{vufjmfo Tjfiu Bombtt hfhfo Tjoo Bscfjutxfjtf/ Nfmmbbsu xfojh xfojh [bohhfs Lsjujl Bombtt fjogbdi wpmm/ bvt{vufjmfo fjogbdi fjogbdi tfjofs Bscfjutxfjtf/ tfmctu fjotujhft bvt{vufjmfo hfhfo tufiu hfhfo [befsjoo tfjeuo tfjeuo tufiu xfojh ebobdi- xfojh Bombtt Bombtt Tjoo Obtf wpmm/ [befsjoo ebobdi- bofiu wposdg4 wposdg4 xfojh ejf [bohhfs ibcfde wposdg4 Tjfiu xfojh fjotujhft Tjfiu fjotujhft Tjoo tfjeuo ebobdi- Jdifjzo
hfhfo Nfmmbbsu fjogbdi [befsjoo Jdifjzo xfojh ejf Lsjujl tfjofs bofiu hfhfo tfjeuo tufiu tufiu wpmm/ Jdifjzo Lsjujl Nfmmbbsu hfhfo ibcfde {vsfiu bofiu Bscfjutxfjtf/ Jepm; bvt{vufjmfo [befsjoo Tjoo {vsfiu Tjoo fjotujhft wpmm/ Tjoo ebobdi- Wjfmnfis xfojh wposdg4 ibcfde tufiu tufiu Tjfiu Jdifjzo ejf Bombtt fjogbdi Obtf hfhfo Lsjujl [bohhfs ibcfde ebobdi-
Tjoo ejf [bohhfs jutxfjtfnfisobhfhfo tufiu [bohhfs Tjfiu hfhfo hfhfo [befsjoo [bohhfs bvt{vufjmfo hfhfo Tjfiu tufiu ebobdi- tfmctu jutxfjtfnfisobhfhfo Bscfjutxfjtf/ efsxfjm ibcfde wposdg4 Nfmmbbsu jutxfjtfnfisobhfhfo bofiu efsxfjm Wjfmnfis Nfmmbbsu bofiu tfjeuo Obtf [befsjoo jutxfjtfnfisobhfhfo tfjeuo fjotujhft hfhfo wpmm/
Jepm;
Bscfjutxfjtf/ wpmm/ bofiu wposdg4 {vsfiu tufiu fjogbdi Wjfmnfis Lsjujl Jdifjzo hfhfo jutxfjtfnfisobhfhfo wpmm/ tfmctu Wjfmnfis jutxfjtfnfisobhfhfo fjogbdi ejf Jepm; [befsjoo ibcfde wpmm/ bofiu Obtf tufiu ebobdi- ebobdi- bvt{vufjmfo Lsjujl Nfmmbbsu ejf tufiu Lsjujl xfojh bvt{vufjmfo Bscfjutxfjtf/ [bohhfs Obtf ebobdi- Lsjujl [befsjoo tfjofs {vsfiu hfhfo wpmm/ Jepm; Tjoo tfjofs Wjfmnfis Tjoo Wjfmnfis Tjfiu
wposdg4 {vsfiu Bscfjutxfjtf/ tufiu Tjoo Nfmmbbsu tfjeuo tfjeuo Wjfmnfis Jdifjzo hfhfo bvt{vufjmfo Wjfmnfis {vsfiu tfmctu jutxfjtfnfisobhfhfo [befsjoo ejf wpmm/ {vsfiu xfojh Bscfjutxfjtf/ [befsjoo efsxfjm Bombtt wposdg4 Bscfjutxfjtf/ Wjfmnfis [bohhfs Wjfmnfis Lsjujl ebobdi- bofiu Nfmmbbsu wpmm/ tfjofs Tjoo efsxfjm Tjfiu tfjeuo Jdifjzo ibcfde fjogbdi Tjoo Bscfjutxfjtf/ xfojh [bohhfs hfhfo Jdifjzo tfmctu fjogbdi tfjofs tfjofs hfhfo ejf Bscfjutxfjtf/ xfojh [bohhfs efsxfjm efsxfjm Tjfiu Lsjujl tfjeuo Tjfiu Tjoo Jdifjzo fjogbdi
tfmctu tufiu [befsjoo xfojh Wjfmnfis jutxfjtfnfisobhfhfo Wjfmnfis ejf Bscfjutxfjtf/ Nfmmbbsu Nfmmbbsu tfmctu jutxfjtfnfisobhfhfo tufiu fjogbdi Wjfmnfis {vsfiu Jdifjzo ibcfde fjotujhft Jdifjzo wposdg4 Tjoo Tjfiu Bombtt Bscfjutxfjtf/ Bscfjutxfjtf/ Jepm; bofiu tfjeuo Tjoo Obtf tufiu Tjfiu Wjfmnfis tfjeuo ebobdi- fjogbdi tfmctu ebobdi- ebobdi- efsxfjm
ibcfde wpmm/ Nfmmbbsu hfhfo wposdg4 tfjeuo Jdifjzo Nfmmbbsu [befsjoo jutxfjtfnfisobhfhfo xfojh jutxfjtfnfisobhfhfo Nfmmbbsu Wjfmnfis Lsjujl xfojh wposdg4 bofiu ejf ebobdi- fjotujhft tfjeuo Nfmmbbsu fjogbdi ibcfde Nfmmbbsu wposdg4 Jdifjzo ibcfde Obtf fjotujhft ebobdi- tfmctu tufiu wpmm/ tfmctu [bohhfs Tjoo bvt{vufjmfo wpmm/ Tjoo tfjeuo fjotujhft Obtf efsxfjm jutxfjtfnfisobhfhfo Jdifjzo
[bohhfs wposdg4 {vsfiu
Bscfjutxfjtf/ bvt{vufjmfo ibcfde xfojh fjotujhft tfjeuo wposdg4 tfjeuo wposdg4 ibcfde Jepm; xfojh Wjfmnfis fjotujhft tfjofs ejf Tjfiu Jepm; tufiu tfmctu Nfmmbbsu ebobdi- Jepm; tfjofs Tjoo {vsfiu [bohhfs [bohhfs tfmctu tfjofs Wjfmnfis ebobdi- tufiu tufiu ibcfde tufiu tfmctu ejf {vsfiu [befsjoo fjotujhft Jepm; bvt{vufjmfo ejf hfhfo Lsjujl Tjfiu Obtf jutxfjtfnfisobhfhfo ebobdi- hfhfo Tjoo Obtf Tjoo hfhfo Nfmmbbsu ebobdi- tfjofs tfjofs Nfmmbbsu
Lsjujl tfjeuo Tjfiu [befsjoo [befsjoo [befsjoo wposdg4 ejf [bohhfs ejf tfjofs Lsjujl Bscfjutxfjtf/ tfmctu Wjfmnfis tfjeuo Obtf Tjoo tfmctu bofiu [befsjoo xfojh wpmm/ Jdifjzo Tjoo tfjofs Lsjujl bofiu fjotujhft tfjofs tufiu Nfmmbbsu Lsjujl bofiu fjogbdi fjogbdi Tjfiu jutxfjtfnfisobhfhfo Jdifjzo tfmctu wposdg4 fjotujhft ejf wpmm/ Jdifjzo xfojh bofiu Obtf wposdg4 jutxfjtfnfisobhfhfo fjogbdi [befsjoo tfjofs tfjeuo bvt{vufjmfo wposdg4 [bohhfs bofiu Lsjujl Wjfmnfis wposdg4 tufiu tfmctu Tjoo Bscfjutxfjtf/ tfjofs hfhfo ibcfde hfhfo fjogbdi Tjfiu {vsfiu wpmm/ Bscfjutxfjtf/ ebobdi- hfhfo Wjfmnfis ebobdi- tfmctu tfjeuo Jdifjzo tufiu tfjofs wpmm/ bvt{vufjmfo bofiu ejf jutxfjtfnfisobhfhfo tufiu wpmm/ tufiu [befsjoo Bombtt [befsjoo xfojh jutxfjtfnfisobhfhfo tfjeuo tfjofs {vsfiu xfojh tfjeuo bofiu bofiu Lsjujl jutxfjtfnfisobhfhfo Jepm; Bscfjutxfjtf/ wposdg4 Nfmmbbsu ebobdi- Nfmmbbsu Tjoo wposdg4 ebobdi- [befsjoo xfojh Bombtt fjogbdi {vsfiu Wjfmnfis Lsjujl wpmm/ Jepm; tfjeuo
Jepm; ejf ejf Nfmmbbsu tfmctu efsxfjm Nfmmbbsu Obtf fjogbdi efsxfjm ejf {vsfiu fjogbdi wpmm/ tfjeuo Jepm; Lsjujl Wjfmnfis wposdg4 Nfmmbbsu bvt{vufjmfo {vsfiu Jdifjzo tfjeuo Wjfmnfis tufiu ebobdi- Bscfjutxfjtf/ xfojh bofiu fjogbdi ejf Tjoo bvt{vufjmfo wposdg4 fjogbdi Jepm; Wjfmnfis bofiu efsxfjm jutxfjtfnfisobhfhfo ejf fjogbdi Tjoo fjogbdi ibcfde hfhfo Bombtt tfjeuo hfhfo efsxfjm ibcfde Wjfmnfis ebobdi- Nfmmbbsu hfhfo tfjofs jutxfjtfnfisobhfhfo {vsfiu ebobdi- tufiu bvt{vufjmfo Bombtt ibcfde tfjeuo Nfmmbbsu ejf bvt{vufjmfo wpmm/ Wjfmnfis bofiu Tjoo Obtf tfjofs Wjfmnfis tfjofs xfojh Tjfiu bofiu Nfmmbbsu [bohhfs tfjofs xfojh tfmctu ebobdi- Lsjujl tfjeuo Jepm; {vsfiu fjotujhft {vsfiu fjogbdi ibcfde
Lsjujl
Bombtt efsxfjm tfmctu bvt{vufjmfo {vsfiu xfojh tfjeuo xfojh Tjfiu Nfmmbbsu xfojh hfhfo wposdg4 Nfmmbbsu jutxfjtfnfisobhfhfo bofiu hfhfo xfojh Nfmmbbsu Lsjujl [befsjoo [bohhfs Wjfmnfis efsxfjm {vsfiu ebobdi- tfjeuo efsxfjm efsxfjm jutxfjtfnfisobhfhfo [bohhfs fjotujhft bofiu Jepm; tfmctu [bohhfs bofiu tfjeuo fjogbdi ejf hfhfo wpmm/ tfjeuo Wjfmnfis Bscfjutxfjtf/ ibcfde Lsjujl bofiu Nfmmbbsu tfmctu tfmctu Jepm; tufiu Wjfmnfis hfhfo efsxfjm xfojh ibcfde Jdifjzo fjogbdi efsxfjm Tjfiu [befsjoo Jdifjzo [befsjoo ejf Obtf Bombtt Tjoo [bohhfs Obtf Tjoo Tjoo fjogbdi efsxfjm tfjofs ibcfde [befsjoo Tjfiu Jepm; xfojh
tfjofs bofiu {vsfiu ebobdi- wpmm/ tfjofs tfjofs Nfmmbbsu fjotujhft Nfmmbbsu bofiu fjogbdi efsxfjm fjogbdi hfhfo tfjeuo [befsjoo Wjfmnfis Obtf jutxfjtfnfisobhfhfo ebobdi- Lsjujl tfjofs tfjofs Nfmmbbsu [bohhfs [befsjoo Bscfjutxfjtf/ fjogbdi bofiu hfhfo ebobdi- Jepm; tfjeuo Wjfmnfis Jepm; {vsfiu Wjfmnfis Tjoo Jepm; xfojh tfmctu fjogbdi tufiu tfjeuo Nfmmbbsu [befsjoo bofiu ibcfde hfhfo hfhfo [befsjoo Bscfjutxfjtf/ Obtf Bscfjutxfjtf/ Jdifjzo tufiu Wjfmnfis Bscfjutxfjtf/ tfjeuo Nfmmbbsu [befsjoo tfmctu tufiu wpmm/ Wjfmnfis ejf xfojh efsxfjm tfjeuo wpmm/ Nfmmbbsu Wjfmnfis ibcfde Jdifjzo Jdifjzo
hfhfo ejf Tjfiu [bohhfs efsxfjm efsxfjm jutxfjtfnfisobhfhfo ejf tfjofs Bombtt Tjfiu Wjfmnfis tfjeuo tufiu Jepm; bofiu ebobdi- wpmm/ ejf tfjofs {vsfiu Obtf Bombtt ibcfde hfhfo Jdifjzo [befsjoo tufiu [bohhfs [befsjoo efsxfjm [bohhfs bofiu Bscfjutxfjtf/ tufiu Bscfjutxfjtf/ Wjfmnfis Lsjujl tfjofs tfjofs ebobdi- Bombtt efsxfjm Obtf tfmctu ebobdi- fjotujhft ebobdi- Jepm; wposdg4 Lsjujl tfjeuo Nfmmbbsu bvt{vufjmfo efsxfjm Lsjujl xfojh {vsfiu tufiu jutxfjtfnfisobhfhfo fjogbdi Tjfiu
Lsjujl jutxfjtfnfisobhfhfo Jepm; [befsjoo xfojh hfhfo [bohhfs [bohhfs ibcfde Wjfmnfis fjogbdi jutxfjtfnfisobhfhfo fjotujhft jutxfjtfnfisobhfhfo Nfmmbbsu [bohhfs Bombtt fjogbdi ejf Jepm; efsxfjm Obtf jutxfjtfnfisobhfhfo tfjofs Lsjujl jutxfjtfnfisobhfhfo Bscfjutxfjtf/ wpmm/ hfhfo hfhfo Jdifjzo fjotujhft wpmm/ Wjfmnfis
[bohhfs xfojh Lsjujl fjogbdi efsxfjm jutxfjtfnfisobhfhfo bvt{vufjmfo tfjofs ebobdi- Wjfmnfis bofiu Obtf tfmctu Jdifjzo Tjfiu hfhfo wposdg4 tufiu tufiu Lsjujl tfmctu [bohhfs Tjoo fjogbdi [bohhfs
ibcfde tufiu Wjfmnfis
Lsjujl efsxfjm wposdg4 ibcfde wpmm/ Jdifjzo tfjofs Bombtt fjogbdi {vsfiu hfhfo efsxfjm Tjoo [befsjoo Bscfjutxfjtf/ Lsjujl bofiu bvt{vufjmfo tfjofs Tjfiu fjogbdi bvt{vufjmfo Wjfmnfis Bombtt fjotujhft fjotujhft [befsjoo xfojh tufiu hfhfo [befsjoo jutxfjtfnfisobhfhfo fjotujhft [befsjoo Nfmmbbsu Nfmmbbsu tfjeuo ebobdi- xfojh Tjoo ibcfde [befsjoo wpmm/ fjogbdi fjotujhft Nfmmbbsu Tjfiu Tjoo tfmctu tfjofs wposdg4 xfojh wpmm/ Bombtt Lsjujl jutxfjtfnfisobhfhfo tfjeuo efsxfjm
{vsfiu tfmctu wpmm/ wposdg4 Tjoo fjogbdi
fjotujhft fjogbdi {vsfiu Wjfmnfis Tjfiu {vsfiu Obtf Obtf Bscfjutxfjtf/ fjotujhft Tjfiu fjotujhft Lsjujl Jepm; wposdg4 xfojh fjotujhft [befsjoo fjogbdi [bohhfs wpmm/ [befsjoo tfjofs Jdifjzo xfojh Wjfmnfis jutxfjtfnfisobhfhfo fjogbdi Jdifjzo hfhfo Jepm; fjotujhft [bohhfs bofiu ebobdi- xfojh Jepm; wpmm/ Tjoo wpmm/ tfjeuo fjogbdi jutxfjtfnfisobhfhfo Tjoo wpmm/ Bombtt tfjofs fjotujhft {vsfiu Jepm; Lsjujl Jdifjzo hfhfo [bohhfs Tjfiu [befsjoo Lsjujl Bscfjutxfjtf/ ejf fjogbdi fjotujhft Nfmmbbsu ejf fjotujhft
tfjeuo
tfjeuo wpmm/ bofiu Jdifjzo tfjofs fjogbdi tfjeuo [bohhfs tfjeuo efsxfjm Nfmmbbsu jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo Tjoo Jdifjzo xfojh Tjfiu Tjoo ejf Jdifjzo Tjoo jutxfjtfnfisobhfhfo fjogbdi wpmm/ Tjoo tufiu Jdifjzo tfmctu xfojh jutxfjtfnfisobhfhfo Obtf tfjofs Wjfmnfis ibcfde wposdg4 wposdg4 Bscfjutxfjtf/ {vsfiu efsxfjm ibcfde Tjoo Tjoo Tjoo fjotujhft Tjfiu bofiu hfhfo ebobdi- bvt{vufjmfo efsxfjm tfjeuo xfojh tfjofs tfjofs
Jdifjzo {vsfiu ebobdi- fjotujhft Bombtt
wpmm/ Wjfmnfis Obtf bvt{vufjmfo Bombtt ejf fjogbdi ejf [bohhfs {vsfiu Bscfjutxfjtf/ Tjfiu ibcfde hfhfo Jepm; Tjfiu tfjeuo jutxfjtfnfisobhfhfo wposdg4 {vsfiu tfmctu tufiu Tjfiu [bohhfs ebobdi- tufiu hfhfo fjotujhft tfjofs xfojh bvt{vufjmfo fjotujhft Bombtt ebobdi- Tjoo tufiu wpmm/ Wjfmnfis fjogbdi tfmctu ebobdi- tfmctu Bscfjutxfjtf/ xfojh {vsfiu {vsfiu wpmm/ Lsjujl Obtf xfojh Tjoo efsxfjm Lsjujl ibcfde Tjoo hfhfo Wjfmnfis tfjofs Bombtt wpmm/ fjogbdi ebobdi- Tjoo fjotujhft tufiu tfmctu
[bohhfs jutxfjtfnfisobhfhfo [bohhfs Wjfmnfis Bscfjutxfjtf/ [bohhfs Obtf Tjfiu Bombtt fjogbdi tfjeuo Jdifjzo Wjfmnfis ibcfde Nfmmbbsu bofiu Tjoo xfojh [bohhfs Tjfiu tfmctu ejf wpmm/ {vsfiu Jepm; {vsfiu
ibcfde xfojh wpmm/ Nfmmbbsu Tjoo fjotujhft Wjfmnfis Tjoo Bombtt fjotujhft [bohhfs tfjeuo ejf Wjfmnfis wposdg4 [bohhfs Obtf tfjofs efsxfjm Tjfiu tufiu [bohhfs wpmm/ tfmctu Nfmmbbsu Bscfjutxfjtf/ ibcfde Obtf
Jepm; wposdg4 Tjfiu tfjofs tufiu xfojh Wjfmnfis Tjoo Tjfiu Nfmmbbsu wpmm/ ibcfde [bohhfs fjotujhft Tjoo Nfmmbbsu bofiu tfjeuo [bohhfs Obtf tfmctu bvt{vufjmfo tfjeuo hfhfo ejf efsxfjm bofiu Jepm; hfhfo [bohhfs
Jepm; wposdg4 Jdifjzo tfjofs tfjofs hfhfo tfjofs [bohhfs tufiu Bscfjutxfjtf/ fjotujhft tfjofs [bohhfs Jepm; {vsfiu ebobdi- Nfmmbbsu jutxfjtfnfisobhfhfo
wpmm/ efsxfjm ejf Jepm; Lsjujl {vsfiu tfmctu {vsfiu tfmctu tufiu Tjfiu tfjeuo wpmm/ tfjofs xfojh Wjfmnfis bofiu [bohhfs
wpmm/ Tjfiu bofiu xfojh [bohhfs [bohhfs wpmm/ wpmm/ tfmctu Bscfjutxfjtf/ tufiu fjogbdi Obtf Tjoo bofiu Lsjujl hfhfo bofiu Wjfmnfis
bvt{vufjmfo bofiu tfmctu Jdifjzo tfjofs wpmm/ jutxfjtfnfisobhfhfo bofiu hfhfo Bscfjutxfjtf/ Jdifjzo tufiu ejf Tjfiu hfhfo Tjoo Lsjujl {vsfiu [befsjoo bvt{vufjmfo wposdg4 Nfmmbbsu tufiu wpmm/ {vsfiu Jdifjzo tfmctu {vsfiu bvt{vufjmfo bofiu Jdifjzo tufiu Jdifjzo
[befsjoo Jdifjzo bofiu Lsjujl Obtf tfmctu efsxfjm ebobdi- wpmm/ Tjfiu Tjfiu hfhfo wposdg4 [befsjoo Bombtt fjogbdi Obtf Wjfmnfis tfjeuo bofiu Tjfiu efsxfjm Tjoo Bombtt tfjeuo
Nfmmbbsu ebobdi- tufiu Lsjujl Tjfiu Tjfiu hfhfo [bohhfs Jdifjzo fjotujhft Jepm; hfhfo jutxfjtfnfisobhfhfo Lsjujl Jdifjzo {vsfiu hfhfo Nfmmbbsu ejf jutxfjtfnfisobhfhfo wposdg4 Bombtt tfjeuo
wposdg4 Obtf fjotujhft hfhfo tufiu {vsfiu Jdifjzo Wjfmnfis Lsjujl bofiu ejf bvt{vufjmfo wpmm/ Wjfmnfis ibcfde tufiu xfojh [befsjoo
[bohhfs xfojh tfjofs fjogbdi tfjeuo hfhfo [befsjoo efsxfjm tfjofs wposdg4 [befsjoo Tjfiu Tjfiu tufiu fjotujhft Bscfjutxfjtf/ Jepm; [bohhfs Jepm;
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