Você está na página 1de 22

*UXQGEHJULIIHGHU7RXULVPXVIRUVFKXQJ

*UXQGEHJULIIHGHU7RXULVPXVIRUVFKXQJ

4XHOOHQ
+DKQ.DJHOPDQQ7RXULVPXVSV\FKRORJLHXQG7RXULVPXVVR]LRORJLH
0LOO0RUULVRQ7KH7RXULVP6\VWHP
0XQGW/HKUXQG+DQGEXFK5HLVHYHUDQVWDOWXQJ
2SDVFKRZVNL7RXULVPXV

3URVHPLQDU7RXULVPXVIRUVFKXQJ

'DQLHO%UDXQVFKZHLJ0$

*UXQGEHJULIIHGHU7RXULVPXVIRUVFKXQJ

(W\PRORJLH

7UDYHO WUDYDLO

5HLVH ""

5RXWH 5XQGH

7RXU 5XQGUHLVH

8UODXE YRQPKGHUODXEHQ GLH(UODXEQLVZHJ]XIDKUHQ

)HULHQ ODWIHULDH IUHLH7DJH]XQlFKVWQXU)HLHUWDJH

3URVHPLQDU7RXULVPXVIRUVFKXQJ

'DQLHO%UDXQVFKZHLJ0$

*UXQGEHJULIIHGHU7RXULVPXVIRUVFKXQJ

)UHPGHQYHUNHKU
GHXWVFKHU%HJULIIIU7RXULVPXV ZLUWVFKDIW

)UDJH:LHVRKHLWHVQLFKW*lVWHYHUNHKU"

5HLVH

'HILQLWRQ)DKUWLQHLQHQ2UWDXHUKDOEGHVVWlQGLJHQ:RKQVLW]HV

*UQGH=ZHFNH
(UKROXQJ6SRUW%LOGXQJ.XOWXU9HUJQJHQEHUXIOLFKH%HWlWLJXQJIDPLOLlUH
(UHLJQLVVH

3URVHPLQDU7RXULVPXVIRUVFKXQJ

'DQLHO%UDXQVFKZHLJ0$

*UXQGEHJULIIHGHU7RXULVPXVIRUVFKXQJ

7RXULVPXV

 UHOMXQJHU%HJULIILQ'HXWVFKODQGHUVWVHLWGHU1DFKNULHJV]HLWLP*HEUDXFK

'HILQLWLRQHQ

5HLVHQGLHNHLQHPlXHUHQ=ZDQJXQWHUOLHJHQGLHDXVUHLQ LQWULQVLVFKHQ
0RWLYHQXQWHUQRPPHQZHUGHQ

9RUEHUJHKHQGH%HVXFKHLQHV2UWHVDXHUKDOEGHVJHZ|KQOLFKHQ
$XIHQWKDOWVRUWHV7lWLJNHLWHQDP=LHORUWZHUGHQQLFKWYRQGRUWHQWORKQW
'HILQLWLRQGHU:72 :RUOG7RXULVP2UJDQLVDWLRQ

3URVHPLQDU7RXULVPXVIRUVFKXQJ

'DQLHO%UDXQVFKZHLJ0$

*UXQGEHJULIIHGHU7RXULVPXVIRUVFKXQJ

5HLVHKlXILJNHLW8UODXEVUHLVHKlXILJNHLW

'HILQLWLRQ
$Q]DKOZlKUHQGHLQHV-DKUHVXQWHUQRPPHQHU8UODXEVUHLVHQ
HLQHV5HLVHQGHQ DE-DKUH 

:HUWHIU'HXWVFKODQG 5HLVHDQDO\VH $Q]DKO5HLVHQ





















3URVHPLQDU7RXULVPXVIRUVFKXQJ

'DQLHO%UDXQVFKZHLJ0$

*UXQGEHJULIIHGHU7RXULVPXVIRUVFKXQJ

5HLVHLQWHQVLWlW8UODXEVUHLVHLQWHQVLWlW

'HILQLWLRQ
$QWHLOGHU%HY|ONHUXQJ EHU-DKUH GHULP/DXIHHLQHV-DKUHV
PLQGHVWHQVHLQH8UODXEVUHLVH PLQG7DJH XQWHUQRPPHQKDW

1LFKW$Q]DKOGHU5HLVHQGXUFK$Q]DKOGHU5HLVHQGHQ0HKUIDFKUHLVHQ
ZHUGHQKLHUQLFKWEHUFNVLFKWLJW

:HUWHIU'HXWVFKODQG 5HLVHDQDO\VH 





















3URVHPLQDU7RXULVPXVIRUVFKXQJ

'DQLHO%UDXQVFKZHLJ0$

*UXQGEHJULIIHGHU7RXULVPXVIRUVFKXQJ

5HLVHYROXPHQ8UODXEVUHLVHYROXPHQ

'HILQLWLRQ
$Q]DKOGHULQHLQHP8QWHUVXFKXQJVJHELHWLQVJHVDPWLQ
HLQHP-DKUXQWHUQRPPHQHQ8UODXEVUHLVHQ

:HUWHIU'HXWVFKODQG 5HLVHDQDO\VH $Q]DKO0LR5HLVHQ





















3URVHPLQDU7RXULVPXVIRUVFKXQJ

'DQLHO%UDXQVFKZHLJ0$

*UXQGEHJULIIHGHU7RXULVPXVIRUVFKXQJ

8UODXEVUHLVH
'HILQLWLRQ
5HLVHGLHPLQGHVWHQV7DJHGDXHUWXQGQLFKWEHUXIOLFKHQ
=ZHFNHQGLHQW

0DQXQWHUVFKHLGHW
.XU]XUODXE 7DJH
.U]HUH8UODXEVUHLVHQ 7DJH
/lQJHUH8UODXEVUHLVHQ DE7DJH

)UDJH

8QWHUZHOFKHQ9RUDXVVHW]XQJHQNDQQ8UODXEJHPDFKWZHUGHQ
XQGVLFK7RXULVPXVHQWZLFNHOQ"

DXVUHLFKHQGODQJH-DKUHVIUHL]HLW 8UODXEEH]DKOWHU8UODXE"
DXVUHLFKHQGH*HOGPLWWHO

3URVHPLQDU7RXULVPXVIRUVFKXQJ

'DQLHO%UDXQVFKZHLJ0$

*UXQGEHJULIIHGHU7RXULVPXVIRUVFKXQJ

7DJHVWRXULVPXV
7DJHVUHLVHPLW8UODXEVFKDUDNWHU $XVIOXJ DXHUKDOEGHVHLJHQHQVWlQGLJHQ
$XIHQWKDOWVRUWHV
7DJHVWRXULVPXVZLUGLQVHLQHU%HGHXWXQJKlXILJXQWHUVFKlW]WGDNHLQH
YHUOlOLFKHQ6WDWLVWLNHQH[LVWLHUHQ

)UHL]HLWWRXULVPXV
7DJHVUHLVHQRGHU.XU]UHLVHELQ]X7DJHQ

3URVHPLQDU7RXULVPXVIRUVFKXQJ

'DQLHO%UDXQVFKZHLJ0$

*UXQGEHJULIIHGHU7RXULVPXVIRUVFKXQJ



+DXSWXUODXEVUHLVH

'LHMHQLJH5HLVHGHUYRP5HLVHQGHQGHUPHKUHUH8UODXEVUHLVHQLP-DKU
XQWHUQLPPWGLHVXEMHNWLYJU|WH%HGHXWXQJEHLJHPHVVHQZLUG
'LHZLFKWLJVWH5HLVHLP-DKU
$OVRQLFKWXQEHGLQJWGLH
OlQJVWH
WHXHUVWH
ZHLWHVWH
+DXSWVDLVRQ 6RPPHU 5HLVH

.XU] XUODXEV UHLVHQ


5HLVHQ]ZLVFKHQ]ZHLXQGYLHU IQI 7DJHQ

3URVHPLQDU7RXULVPXVIRUVFKXQJ

'DQLHO%UDXQVFKZHLJ0$

*UXQGEHJULIIHGHU7RXULVPXVIRUVFKXQJ



3DXVFKDOUHLVH

%QGHOYRQ5HLVHOHLVWXQJHQ ]%7UDQVIHU8QWHUNXQIW9HUSIOHJXQJ
5HLVHOHLWXQJHWF GHVVHOEHQ5HLVHPLWWOHUV]XHLQHP3DXVFKDOSUHLV

)UDJH$EZDQQJLOWHLQH5HLVHDOV3DXVFKDOUHLVH"

,QGHU%UDQFKHZLUGDE]ZHL/HLVWXQJHQGHVVHOEHQ$QELHWHUVIU
GLHVHOEH5HLVHYRQHLQHU3DXVFKDOUHLVHJHVSURFKHQ

3URVHPLQDU7RXULVPXVIRUVFKXQJ

'DQLHO%UDXQVFKZHLJ0$

*UXQGEHJULIIHGHU7RXULVPXVIRUVFKXQJ



,QGLYLGXDOUHLVH

5HLVHQEHLGHQHQGLH/HLVWXQJHQYRQ5HLVHPLWWOHUQQXUYHUHLQ]HOWRGHUJDU
QLFKWLQ$QVSUXFKJHQRPPHQZHUGHQ

5HLVHQGLHEHUZLHJHQGRGHUYROOVWlQGLJVHOEHUJHSODQWZHUGHQ
3ODQXQJV2UJDQLVDWLRQVDVSHNW

)UDJH:HOFKHVJUXQGVlW]OLFKH3UREOHPHQWVWHKWEHLP:XQVFKQDFK
LQGLYLGXHOOHQ)HUQUHLVHQ"

$XFKKLHUZHUGHQQRUPDOHUZHLVHHWOLFKH/HLVWXQJHQYRQ5HLVHYHUDQVWDOWHUQ
JHQXW]W(FKWHXQDEKlQJLJH,QGLYLGXDOUHLVHQVLQGX8VHKUWHXHUXQG
DXIZlQGLJ

3URVHPLQDU7RXULVPXVIRUVFKXQJ

'DQLHO%UDXQVFKZHLJ0$

*UXQGEHJULIIHGHU7RXULVPXVIRUVFKXQJ



/DVW0LQXWH5HLVHQ

/DVW0LQXWH5HLVHQVLQGHLJHQWOLFK5HVWSOlW]HQRUPDOHU9HUDQVWDOWHUUHLVHQGLH
7DJHYRU5HLVHDQWULWWELOOLJHUDQJHERWHQZHUGHQ
'HU%HJULIIKDWVLFKLQVJHVDPW]XP6\QRQ\PIUJQVWLJH5HLVHQRKQHJURH
'LIIHUHQ]LHUXQJEHLP5HLVH]LHOHWDEOLHUW

$OO,QFOXVLYH5HLVHQ
$OO,QFOXVLYH5HLVHQVLQG3DXVFKDOUHLVHQEHLGHQHQPLWGHP5HLVHSUHLVQHEHQ
7UDQVIHUXQG8QWHUNXQIWDXFKGLH YROOVWlQGLJH 9HUSIOHJXQJDEJHJROWHQLVW

)UDJH:HOFKH0RWLYDWLRQHQJLEWHV
IU5HLVHQGHHLQH$OO,QFOXVLYH5HLVH]XEXFKHQ"
)U5HLVHPLWWOHUHLQH$OO,QFOXVLYH5HLVHDQ]XELHWHQ"

3URVHPLQDU7RXULVPXVIRUVFKXQJ

'DQLHO%UDXQVFKZHLJ0$

*UXQGEHJULIIHGHU7RXULVPXVIRUVFKXQJ



%HKHUEHUJXQJVNDSD]LWlW

$Q]DKOYRQhEHUQDFKWXQJVP|JOLFKNHLWHQ LG5*lVWHEHWWHQ GLHLQHLQHP


2UWIUJHZHUEOLFKH%HKHUEHUJXQJV]ZHFNH]XU9HUIJXQJVWHKHQ

%HKHUEHUJXQJVVWDWLVWLN 'HXWVFKODQG
9RQGHQ%XQGHVOlQGHUQJHIKUWH6WDWLVWLNEHUJHZHUEOLFKH %HKHUEHUJXQJHQ
.DQQ$XIVFKOXVVEHUWRXULVWLVFKH(QWZLFNOXQJHQJHEHQ

7DJHVWRXULVPXVZLUGMHGRFKQLFKWEHUFNVLFKWLJW

3URVHPLQDU7RXULVPXVIRUVFKXQJ

'DQLHO%UDXQVFKZHLJ0$

*UXQGEHJULIIHGHU7RXULVPXVIRUVFKXQJ



,QFRPLQJ

,QFRPLQJWRXULVPXVVLQG5HLVHQYRQ$XVOlQGHUQLQV,QODQG
,Q%H]XJDXIGLH6WDDWVDQJHK|ULJKHLW

2XWJRLQJ

2XWJRLQJWRXULVPXVVLQG5HLVHQYRQ,QOlQGHUQLQV$XVODQG
,Q%H]XJDXIGLH6WDDWVDQJHK|ULJKHLW

3URVHPLQDU7RXULVPXVIRUVFKXQJ

'DQLHO%UDXQVFKZHLJ0$

*UXQGEHJULIIHGHU7RXULVPXVIRUVFKXQJ



'HVWLQDWLRQ=LHOJHELHW

'HVWLQDWLRQLVWHLQ6DPPHOEHJULIIXQGEH]HLFKQHWHLQ=LHOJHELHWIU7UDQVIHUV
RGHU5HLVHQDOOJHPHLQGLHHLQHRUJDQLVDWRULVFKHRGHUDXFKZLUWVFKDIWOLFKH
(LQKHLWELOGHQ 5HJLRQHQ 
%HLVSLHOH1HZ<RUN&RVWDGHO6RO1RUGVHH-DSDQ

YJODXFK4XHOOJHELHW8UVSUXQJVODQGJHELHW

3URVHPLQDU7RXULVPXVIRUVFKXQJ

'DQLHO%UDXQVFKZHLJ0$

*UXQGEHJULIIHGHU7RXULVPXVIRUVFKXQJ



0DVVHQWRXULVPXV

$OVQHXWUDOHU%HJULIIEH]HLFKQHW0DVVHQWRXULVPXVHLQHKRKH5HLVHLQWHQVLWlW
HLQHV=LHORGHU4XHOOJHELHWV

%HLVSLHO'HXWVFKHU0DVVHQWRXULVPXV0DVVHQWRXULVPXVDXIGHQ%DOHDUHQ

3URVHPLQDU7RXULVPXVIRUVFKXQJ

'DQLHO%UDXQVFKZHLJ0$

*UXQGEHJULIIHGHU7RXULVPXVIRUVFKXQJ



5HLVHYHUDQVWDOWHU 5HLVHPLWWOHU

8QWHUQHKPHQGDV]ZLVFKHQ$QELHWHUQXQG 1DFKIUDJHUQYRQ
5HLVHGLHQVWOHLVWXQJHQYHUPLWWHOW ]%+RWHO)OXJWUDQVIHUV0LHWZDJHQ
)KUXQJHQ XQGGLHVH/HLVWXQJHQLPHLJHQHQ1DPHQXQGDXIHLJHQH
5HFKQXQJLG5DOVQHXHVHLJHQVWlQGLJHV3URGXNWYHUNDXIW

9HUPLWWHOWZHUGHQHLQ]HOQH/HLVWXQJHQRGHU%QGHO
.RPSOHWWSDNHWH3DXVFKDOUHLVHQ

3URVHPLQDU7RXULVPXVIRUVFKXQJ

'DQLHO%UDXQVFKZHLJ0$

*UXQGEHJULIIHGHU7RXULVPXVIRUVFKXQJ



.RQ]HQWUDWLRQLP5HLVHPDUNW
'HU]HLWJLEWHVGUHLJURH7RXULVPXVDQELHWHULQ'HXWVFKODQG7KRPDV &RRN
78, 3UHXVVDJ 5HZH /78 XQGHLQLJHNOHLQHUHZLH)7,$OOWRXUVgJHU7RXUV

9HUDQVWDOWHU

8PVDW]
LQ0LR'0

7HLOQHKPHU
0DUNWDQWHLO

*lVWH 

0DUNWDQWHLO

LQ0LR

78,









7KRPDV&RRN









5(:(









)7,









$OOWRXUV









)9:,QWHUQDWLRQDO1U)UDQNIXUW

'HU0DUNWDQWHLOGHUNOHLQHUHQXQGXQDEKlQJLJHQ$QELHWHUOLHJW
GHU]HLWEHLFD

'HU*HZLQQSUR7HLOQHKPHU%XFKXQJ *DVW EHWUlJWLP


'XUFKVFKQLWW;

3URVHPLQDU7RXULVPXVIRUVFKXQJ

'DQLHO%UDXQVFKZHLJ0$

*UXQGEHJULIIHGHU7RXULVPXVIRUVFKXQJ



5HLVHEUR

8QWHUQHKPHQGDV/HLVWXQJHQYRQ5HLVHPLWWOHUQXQG 5HLVHGLHQVWOHLVWHUQDQ
GHQ(QGNXQGHQYHUNDXIW

(UVWHVGHXWVFKHV5HLVHEURLQ%HUOLQJHJUQGHW .DUO 5LHGHO


5HLVHEURVKDEHQLQ'HXWVFKODQGHLQHVWDUNH6WHOOXQJ'LUHNWYHUNDXIXQG
,QWHUQHWYHUNDXILVWYHUJOHLFKVZHLVHJHULQJ
,QWHUQHW$QJHERWHZHUGHQ]%QLFKWEHZRUEHQXQGVLQGRIWQLFKWJQVWLJHU

)UDJH6LHEHILQGHQVLFKLQHLQHP$OSKD5HLVHEUR'RUWZHUGHQ5HLVHQ
YRQ1857HUUDPDU$OGLDQD%XFKHU5HLVHQ.UHXW]HU$LU0DULQXQG
7KRPDV&RRNDQJHERWHQ:DVN|QQWHLKQHQDXIIDOOHQ"

6RZRKOGDV5HLVHEURDOVDXFKDOOH9HUDQVWDOWHUJHK|UHQ]XU7KRPDV
&RRN$*

3URVHPLQDU7RXULVPXVIRUVFKXQJ

'DQLHO%UDXQVFKZHLJ0$

*UXQGEHJULIIHGHU7RXULVPXVIRUVFKXQJ



-DUJRQ:DUPZDVVHU%DGHZDQQH
:DUPZDVVHUXQG%DGHZDQQHQ7RXULVPXVVWHKHQIU8UODXEVUHLVHQLQ
6RQQHQXQG(UKROXQJVUHLVH]LHOH
,Q'HXWVFKODQGLVWGLHVYDGHU0LWWHOPHHUUDXPGLH NDQDULVFKHQ,QVHOQXQG
HLQLJH)HUQ]LHOH 'RPLQLNDQLVFKH5HSXEOLN)ORULGDXD

-DUJRQ5HQQVWUHFNH
5HQQVWUHFNHQVLQG0LWWHOVWUHFNHQ]X=LHOHGLHLQELV]XFD6WXQGHQSHU
)OXJ]HXJHUUHLFKWZHUGHQN|QQHQ 

5HLVHQGHURELJHQ$UWHUEULQJHQGHQ+DXSWXPVDW]EHLGHQJURHQ
GHXWVFKHQ5HLVHYHUDQVWDOWHUQ

3URVHPLQDU7RXULVPXVIRUVFKXQJ

'DQLHO%UDXQVFKZHLJ0$

*UXQGEHJULIIHGHU7RXULVPXVIRUVFKXQJ



5HLVHOLWHUDWXU

%HOOHWULVWLN5HLVHURPDQH*HVFKLFKWHQ RIWDXFKHUIXQGHQ GLHQWHQODQJHLQ


GHU)XQNWLRQZLHKHXWLJH5HLVHIKUHU

6DFKEFKHU5HLVHIKUHU5HLVH]HLWVFKULIWHQ ,QWHUQHWVHLWHQ
HUVFKLHQGHUHUVWH5HLVHIKUHU (QJODQG 
HUVFKLHQGHUHUVWH%DHGHNHU

)UDJH:DUXPHQWVWDQGHLQ%HGDUIIU5HLVHIKUHU"

:HLOPDQHLQH5HLVHSODQHQZLOODEHUDXFKZHLOPDQHLQH5HLVHSODQHQ
PXVV PLWWOHUH6FKLFKWHQ DXV=HLWXQG*HOGPDQJHO
!5HLVHLQIRUPDWLRQHQZHUGHQQRWZHQGLJ
]%*RHWKHV,WDOLHQUHLVHGDXHUWH]ZHL-DKUH

3URVHPLQDU7RXULVPXVIRUVFKXQJ

'DQLHO%UDXQVFKZHLJ0$

Você também pode gostar