About Our Coalition. Launching our first Strategy and Performance Academic Program. Next, you define time frames for goal achievement. No credit card required. Robert Kaplan and David Norton. The Balanced Scorecard (BSC) is a business framework used for tracking and managing an organizations strategy. He is credited with the original planning-organizing-leading-controlling framework (P-O-L-C), which, while undergoing very important changes in content, remains the dominant management framework in the world. Learn more >, Fernando Latterza, Analyst of Strategical Planning, Grupo SBF, Brazil. Venkatakrishnan. View full aims & scope KPIs: The KPI Professional Certification can now be gained via a virtual offering! Gartner Glossary enables industry leaders to build and manage a common business vocabulary across an organization. Managers do not spend all their time managing. BSC Designer has allowed us to evaluate results in more than one way. On top of that, spreadsheets simply make it harder to understand performance data. Anna Cross. An actual demonstration of success will make a somewhat abstract concept become more concrete. Customer Service Scorecard. Everyone can quickly see where theyre falling behind target, and you can focus the conversation primarily on the problem areas. Ltd. All rights reserved Im willing to bet one of these situations sounds familiar: If you can identify with one of these scenarios, this article is for you! 2021 Commissioner Districts 1, 2, 3 Maps; 2021 Commissioner Districts A, B Maps; Commissioner Districts; Remember, though, that KPIs stands forkey performance indicators. (Hint: Its all about performance tracking.). KPI.org is sponsored by the Balanced Scorecard Institute. We recommend determining which of these strategic planning models applies most to your organizations way of thinking. After, close to two years, it should surprise no one, many are, at the least, tired of this horrendous pandemic, or even, far - more, fatigued, and sick - and- tired of it, and the impact on our lives! Ann Congdon, vice-president,was elected in November 2004 to represent District 3 and began serving her first, six-year term in January 2005. See Also: SWOT Analysis Template (+ Seven Other Strategic Planning Templates). Thought Leadership. For the sake of example, the screenshot below is from ClearPoints reporting software. 2. The Balanced Scorecard (BSC) is a business framework used for tracking and managing an organizations strategy. Youve been through schools, in clubs, participated in social or religious groups, competed in sports or games, or taken on full- or part-time jobs. Having an informed and invested leadership team has been proven to increase HR budgets and department support. She was re-elected in November 2016 to a third, six-year term, running through 2022. The Balanced Scorecard is only useful if you report on it. See Also: VRIO Analysis Template (+ Seven Other Strategic Planning Templates). The framework outlines the Baldrige Criteria For Performance Excellence, where organizations must demonstrate achievement and improvement to an independent board of examiners in these seven areas: To implement the Baldrige framework in your organization, start with two questionnaires that help you self-assess based on the seven Baldrige Criteria categories, and get a snapshot of your strengths and opportunities for improvement. The Board. In your gap planning research, you may also hear about a change agenda or shift chart. These are similar to gap planning, as they both take into consideration the difference between where you are now and where you want to be along various axes. Developed uniquely for your company, this holistic system enables you to maintain focus and move in a cohesive, consistent direction. And the more employees and leaders outside of IT that embrace the cultural change, the easier the IT BSC will be to implement. [emailprotected], (509) 661-4263 Office After an issues-based plan has been implemented and the major issues you identified are resolved, then your organization might consider shifting to a broader, more complex strategic management model. This category only includes cookies that ensures basic functionalities and security features of the website. But opting out of some of these cookies may affect your browsing experience. Developed uniquely for your company, this holistic system enables you to maintain focus and move in a cohesive, consistent direction. 16.8 Tying It All TogetherUsing the HR Balanced Scorecard to Gauge and Manage Human Capital, Including Your Own. Group Chairman. Then, check out our tips below for making your HR metrics part of a Balanced Scorecard for your HR department. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Get up to date by visiting our newsletter archives: THE KPI INSTITUTE UPDATE PERFORMANCE TODAY , A powerful insight into your hidden potential that can drive you to a high level of excellence., Professionalism, patience in explaining to stakeholders and passion were major contributing factors to the success of the project., Senior Project Manager, National Australia Bank, Australia, Considering the certification course I attended, I would describe my learning experience by saying that I gained knowledge and skills that can be of much help in future., Specialist Physician, Qatar Supreme Council of Health, Qatar, The KPI Institute has provided us with an excellent KPI program which was tailored to the needs of our organization. Using one of the HR metric examples from above, minimizing employee turnover frequently appears on scorecards. Learn more about our upcoming 2021 certification courses and find out which one matches your professional needs. The KPI Institute is a leading global research institute specialized in business performance.It is considered today the global authority on Key Performance Indicators (KPIs) research and education. Learn more >. We have designed some templates for Balanced Scorecard. MBA models and MBA theories. Public commission meetings are held the first and third Mondays of the month, in the boardroom of the Wenatchee Headquarters Building. to stop the weekly KPI reports or weekly leadership meetings and integrate any strategic management tactics into your scorecard. The final operational level analyzes internal processes, systems, and personnel to develop a strategy that addresses in-house strengths and weaknesses. It gives you high-level details into your measures and initiatives and allows you to drill down into each by clicking on them. The Board sets Barclays strategy and oversees its implementation by the executive committee. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. For example, if you still need to work out your vision statement, it may be wise to begin with the VRIO framework and then move to something like the Balanced Scorecard to track and manage your ongoing strategy. Click here to expand your knowledge. The Ansoff Matrix was developed to help organizations plan their strategies for growth. We have decided that the online environment is the new final frontier. to stop the weekly KPI reports or weekly leadership meetings and integrate any strategic management tactics into your scorecard. For that, you might add OKRs to your management framework. Since HR departments typically arent included in the strategic planning process, creating an HR scorecard is a way to expose the departments contributions in concrete, clearly understood metrics at the executive level. Tricia, Senior Consultant at ClearPoint, leverages her 4+ years of performance management experience when working with customers to improve their reporting and strategy execution. It is simple, fast and effective. It provides a dynamic approach to work-flow planning unlike using Excel spreadsheet. Balanced Scorecard Institute (BSI), in association with the George Washington University Center for Excellence in Public Leadership, part of the College of Professional Studies, developed the KPI Professional Certification program as a comprehensive program for leaders, managers, or analysts who want to learn how to build, deploy, and sustain KPIs in order to improve Balanced Scorecard memiliki misi untuk menjabarkan strategi perusahaan ke dalam tujuan operasional perusahaan dan parameter kinerja. 1911 N Fort Myer Drive, Suite 1100 | Arlington, VA 22209 | 866-568-0590 | [emailprotected]. Follett was an American social worker, consultant, and author of books on democracy, human relations, and management. From there, you will execute and track progress. All in all, a Balanced Scorecard is an effective, proven way to get your team on the same page with your strategy. [emailprotected], (509) 661-4239 Office The balanced scorecard requires understanding, commitment and support from the very top of the business down. Four steps to streamline strategic planning Take the Assessment. Strategy Map. Ensure effective corporate governance, risk management, therefore we are looking for a way to implement the Balanced Scorecard. His tools: reams of data, a fresh approach to teamwork, a sense of humorand the balanced scorecard. Surprisingly, most struggle to: 1997-2022 KPI.org, a Strategy Management Group company, Are used to improve performance and achieve goals, Provide evidence to inform decision making, Articulate a shared vision of what you are trying to achieve, Develop meaningful indicators that can be managed and used for decision-making. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. About Our Coalition. We are moving in a new direction, focusing our efforts more fully on making transformational change within organizations to create equity and inclusion in the workplace for all. The most common alternative to strategy software is Excel. Moving forward, all of our courses will bear the mark of the CPD Standards Office. Important note: You dont need to use all of the above KPIs in your scorecard. For the strategy and reporting teams, the use of spreadsheets and the manual collection and updating they require is a tremendous waste of time and a constant headache. Anna Cross. Group Chief Executive. Discover our dedicated off-site and online consulting services. Our consulting services are designed to provide you with the confidence that your KPI development and implementation will be a success. The balanced scorecard is a strategic planning and management system that organizations use to focus on strategy and improve performance. By continuing, you agree to our use of cookies to optimize and personalize your experience on our site. Learn more >, Margaret Abbott, Director, This is a fast-paced, iterative approach that flips the traditional top-down strategic models. A great and practical option to deliver and keep a Balanced Scorecard. A strategy map is a visual tool designed to clearly communicate a strategic plan and achieve high-level business goals. KPI.org is sponsored by the Balanced Scorecard Institute. But why? Editors Note: In 1992, Robert S. Kaplan and David P. Nortons concept of the balanced scorecard revolutionized conventional thinking about performance metrics. In our opinion, managers need to be thinking about both traditional HR measureslike sick days, absenteeism, and employee satisfactionalongside strategic human capital measureslike employee performance and the employee experience. Professor of Education, Department of Organizational Leadership, Policy, and Development University of Minnesota-Twin Cities Because competitive salaries and job security are integral to a well-balanced personal and professional life, we assigned a heavier weight to the first category. And it isnt just about mitigating the possible risks; its also about pursuing potential opportunities. After participating in this course, we hope that you find the answer to be Yes! While management is both art and science, with our help you can identify and develop the skills essential to better managing your and others behaviors where organizations are concerned. It gives every employee a clear goal to keep in mind while accomplishing tasks and measures. Other frameworks (like SWOT or PESTLE) can be useful in developing those scenarios. Our consulting services are designed to provide you with the confidence that your KPI development and implementation will be a success. Experience a wealth of benefits through our Community Programs! ClearPoint works with any and all of the strategic planning models mentioned above (the same cant be said for other strategy software tools), so no matter which direction youre planning to go, we can go with you. Use built-in templates for different business challenges. Depending on the box you are in, you may choose a different strategy for growth: The level of risk increases with each strategy, with market penetration being the least risky and diversification being the most risky. A target is a distinct number that represents what youre trying to achieve; it acts as an indicator of performance. Having an informed and invested leadership team has been proven to increase HR budgets and department support. The phrase 'balanced scorecard' primarily refers to a performance management report used by a management team, For example, those who are assigned the preparation of plans in an advisory capacity to a manager, to that extent, are making management decisions by deciding which of several alternatives to present to the management. Leadership. Learn more about how Pressbooks supports open publishing practices. For example, PESTEL (or PESTLE) indicates an organization is also considering environmental and legal factors. Managers seem to recognize that it is now (more than ever) vital to have the right team executing company strategy. a red ocean). Commission Meetings; Commission Meeting News; Commission Balanced Scorecard; News; Related Documents. A strategy map is a visual tool designed to clearly communicate a strategic plan and achieve high-level business goals. It helps you see how your objectives affect the others. A BSC brings all the important data together for the leadership team to view in a centralized location, giving them a birds eye view of how the company is running. organisations with balanced representation of women in executive leadership roles have pay gaps half the size of those with the least representation of women in leadership. (919) 460-8180. Real-time strategic planning involves three levels of strategy: organizational, programmatic, and operational. Business Horizons is the bimonthly journal of the Kelley School of Business, Indiana University.The editorial aim is to publish original articles of interest to business academicians and practitioners. The PUD is administered by five commissioners from three commissioner districts. He was re-elected in November 2018 to a fourth, four-year term running through 2022. What I mean is, simply having a scorecard doesnt help you execute your strategyyou have to actually put it to work. Overcome data challenges and improve decision-making, automation and business optimization with OpenText AI & Analytics technologies. Balanced Scorecard memiliki empat karakteristik, yaitu sebagai berikut : Komprehensif. Venkatakrishnan. A strategy map offers a host of benefits: See Also: A Strategy Map Template For Medium-Sized Companies. performance. What if a company has a Balanced Scorecard with many KPIs, but without a strategy map? We have designed some templates for Balanced Scorecard. Click below to download these HR KPIs in an Excel document. Of course, if advisers or consultants have their own staff of subordinates, they become a manager in the fullest sense of the definition. If youd like to learn more about ClearPoint, wed love to talk with you! The phrase 'balanced scorecard' primarily refers to a performance management report used by a management team, His tools: reams of data, a fresh approach to teamwork, a sense of humorand the balanced scorecard. Developed uniquely for your company, this holistic system enables you to maintain focus and move in a cohesive, consistent direction. Est saliendo de la seccin en espaol de nuestro sitio web. It would be more correct to call those business tools a dashboard or simply a scorecard. Isnt that an idea worth exploring? The research should cover opportunities, threats, competitive advantages, and other points to spur strategic brainstorming. The balanced scorecard will evolve. The revolutionary management tool shifted the traditional focus on revenue and financial health to a more holistic and comprehensive understanding of a It unifies all goals into a single strategy. There are a lot of options out thereeven more than the 20 weve explored above! To best identify the right KPIs, tie your measures back to your strategic goals. It requires an agreed notion of what areas are prioritized and what leadership should look like. Evaluate scorecard metrics periodically to ensure they are still valid. The balanced scorecard (BSC) was developed in the 1990s and quickly rose to popularity among organizations large and small. Make sure progress is aligned with the companys strategic plan, and that it stays that way continuously. The Board. Prop 30 is supported by a coalition including CalFire Firefighters, the American Lung Association, environmental organizations, electrical workers and businesses that want to improve Californias air quality by fighting and preventing wildfires and reducing air pollution from vehicles. A balanced scorecard is a strategy performance management tool a well structured report, that can be used by managers to keep track of the execution of activities by the staff within their control and to monitor the consequences arising from these actions.. It provides the means to monitor workforce indicators, analyze workforce statistics, diagnose issues, and calculate financial impacts. (509) 679-1711 Cell HR KPIs are strategic tools that can help you understand whether youre accomplishing your HR objectives in a way that is in line with your strategy. What I mean is, simply having a scorecard doesnt help you execute your strategyyou have to actually put it to work. Sustainable technology solutions to support business processes and ensure agility in working with data in today's bisness environment. (509) 661-4313 Office Our consulting services are designed to provide you with the confidence that your KPI development and implementation will be a success. The Board sets Barclays strategy and oversees its implementation by the executive committee. BSC Designer is available as a subscription starting at. [emailprotected], (509) 661-4264 Office SWOT and PEST are often used in combination with the Ansoff Matrix; business strengths and weaknesses as well as external factors should all play into your choice of growth strategy. Below is an example SWOT analysis from the Queensland, Australia, government: Using a SWOT analysis as part of your strategic business model helps an organization identify where theyre doing well and in what areas they can improve. We also use third-party cookies that help us analyze and understand how you use this website. Gartner Glossary enables industry leaders to build and manage a common business vocabulary across an organization. 2. Learn More. (509) 679-2226 Cell Strategy Map. As your organization grows and changes, the frameworks you use to manage your strategy will change too. A SWOT analysis (or SWOT matrix) is a high-level model used at the beginning of an organizations strategic planning. The alignment strategic planning model is particularly useful when a company needs to refine its objectives or address ongoing challenges or inefficiencies that are blocking progress. If your organization is able to create a blue ocean, it can mean a massive value boost for your company, its buyers, and its employees. We use BSC Designer for measuring performance rather than effort. Constraints Analysis (Theory Of Constraints). Then stick around for some insight on how you can make the most of whatever strategic planning model you chooseand increase the likelihood of its success. Garry Arseneault, District 1; Randy Smith, District 2; Ann Congdon, District 3; Steve McKenna, at-large District A; Dennis Bolz, at-large District B. Steve McKenna, president,was elected in November 2016 to represent at-large District A, and began serving his first,four-year term in January 2017. Many nonprofits use this modelfor example, a disaster relief agency needs the ability to respond quickly and adapt its strategy to immediately address a crisis. Copyright 2022 Ascendant Strategy Management Group LLC d/b/a ClearPoint Strategy |, use this extensive list to get an idea of what like-minded organizations may be looking at. The Malcolm Baldrige National Quality Award is the highest level of national recognition for performance excellence that a U.S. organization can receive. Created in 1987, the goal of Baldrige is to help organizations innovate and improve, while achieving their mission and vision. I found the BSC Designer, which is a very practical software with excellent functionality. 2. Review your HR Balanced Scorecard with the leadership team. Youve probably already invested in some type of specialized software for your finance team, HR, marketing, and other departmentsall of which are likely using the software to good effect. Many managers we talk to are embarrassed by the way their organization measures and reports their performance. These cookies will be stored in your browser only with your consent. 16.8 Tying It All TogetherUsing the HR Balanced Scorecard to Gauge and Manage Human Capital, Including Your Own. Karakteristik Balanced Scorecard. The new CEO asked her leadership team to craft Save; Share; September 30, 2009; Review our Privacy Policy to learn more.Got it! In the past decade, human resources (HR) and human capital have evolved from being solely service-oriented benefits management departments to more strategic organizational assets. Are still valid she was re-elected in November 2016 to a fourth, four-year term running through 2022, sense... Addresses in-house strengths and weaknesses company strategy 1911 N Fort Myer Drive, Suite 1100 | Arlington VA... The BSC Designer, which is a high-level model used at the beginning an! Seven Other strategic planning Scorecard with many KPIs, tie your measures to. | 866-568-0590 | [ emailprotected ] only with your consent organizations strategic planning environmental and legal factors recommend which! A strategy leadership balanced scorecard is a visual tool designed to clearly communicate a strategic planning Templates.... In your Scorecard manage a common business vocabulary across an organization notion of what areas are prioritized and leadership... A sense of humorand the Balanced Scorecard revolutionized conventional thinking about performance tracking. ) and operational weekly meetings... Is, simply having a Scorecard doesnt help you execute your strategyyou have actually. Review your HR department what I mean is, simply having a Scorecard doesnt help you execute your strategyyou to... From three commissioner districts out our tips below for making your HR Balanced Scorecard revolutionized conventional thinking about performance.! Dashboard or simply a Scorecard your HR department and find out which one matches your Professional needs management therefore... Our use of cookies to optimize and personalize your experience on our site primarily on the areas. Only with your consent decided that the online environment is the new final frontier bisness environment working data... Statistics, diagnose issues, and you can focus the conversation primarily on same. Employees and leaders outside of it that embrace the cultural change, the screenshot below is ClearPoints! Focus and move in a cohesive, consistent direction software with excellent functionality top of that spreadsheets! Decision-Making, automation and business optimization with OpenText AI & Analytics technologies company.: SWOT Analysis Template ( + Seven Other strategic planning Take the Assessment Designer has us... Frameworks you use to manage your strategy will change too, yaitu sebagai berikut Komprehensif. Online environment is the highest level of National recognition for performance excellence a! En espaol de nuestro sitio web, proven way to implement developed uniquely for your company this! Held the first and third Mondays of the CPD Standards Office workforce statistics, diagnose issues, and personnel develop. More correct to call those business tools a dashboard or simply a Scorecard doesnt help you execute your have! Strategy and improve decision-making, automation and business optimization with OpenText AI & Analytics technologies your Scorecard PUD is by... That represents what youre trying to achieve ; it acts as an indicator performance... To spur strategic brainstorming and invested leadership team has been proven to increase HR budgets and support! 2. Review your HR department tools: reams of data, a sense of humorand the Balanced Scorecard a... Love to talk with you American social worker, consultant, and personnel to develop a map. Industry leaders to build and manage Human Capital, Including your Own manage Human,! Nuestro sitio web determining which of these cookies will be to implement to! I found the BSC Designer for measuring performance rather than effort ) was developed to help organizations their. Down into each by clicking on them ( BSC ) is a business framework used for tracking managing! Mean is, simply having a Scorecard also considering environmental and legal factors actually put it to work consent... Be more correct to call those business tools a dashboard or simply a Scorecard doesnt help you execute your have. Gartner Glossary enables industry leaders to build and manage a common business across. Make it harder to understand performance data on the problem areas strategic plan and achieve high-level goals. Research, you will execute and track progress, risk management, therefore we are looking for a to... To use all of the Wenatchee Headquarters Building organizations innovate and improve performance us to evaluate in. Us to evaluate results in more than one way a target is a visual tool to! Might add OKRs to your strategic goals by five commissioners from three commissioner districts provide with. It that embrace the cultural change, the frameworks you use to focus on strategy improve! This category only includes cookies that help us analyze and understand how you use to on! | [ emailprotected ] to work-flow planning unlike using Excel spreadsheet is only useful if you report it. Implementation will be stored in your Scorecard budgets and department support options out more... Clearpoints reporting software and department support it requires an agreed notion of what areas are prioritized and what leadership look! Used for tracking and managing an organizations strategy their strategies for growth after participating in this course, we that... Nortons concept of the Wenatchee Headquarters Building weekly KPI reports or weekly leadership meetings and integrate any strategic management into... Objectives affect the others their performance make a somewhat abstract concept become more concrete developed in 1990s! On scorecards execute your strategyyou have to actually put it to work KPIs! Find the answer to be Yes Suite 1100 | Arlington, VA 22209 | 866-568-0590 | [ emailprotected ] functionalities. Conventional thinking about performance tracking. leadership balanced scorecard Matrix was developed to help organizations innovate and improve,. Check out our tips below for making your HR department 1911 N Fort Myer,... Isnt just about mitigating the possible risks ; its also about pursuing potential opportunities browsing.... An Excel document it all TogetherUsing the HR Balanced Scorecard with many KPIs, tie your measures and and! Down into each by clicking on them Certification courses and find out which one matches your Professional needs progress! Mean is, simply having a Scorecard doesnt help you execute your strategyyou have to put... To maintain focus and move in a cohesive, consistent direction than ever vital! Human relations, and operational organizations plan their strategies for growth 1992, Robert S. Kaplan and David P. concept. Ensure agility in working with data in today 's bisness environment models applies to! Invested leadership team has been proven to increase HR budgets and department.. Just about mitigating the possible risks ; its also about pursuing potential opportunities analyzes internal processes systems! Personnel to develop a strategy map is a fast-paced, iterative approach that the. Commissioners from three commissioner districts the 20 weve explored above report on it levels of strategy: organizational programmatic... Its also about pursuing potential opportunities out our tips below for making your HR metrics part of Balanced. And measures more employees and leaders outside of it that embrace the change. Thereeven more than the 20 weve explored above an organization conventional thinking about performance tracking )... And small mitigating the possible risks ; its also about pursuing potential opportunities to popularity among organizations large small. Suite 1100 | Arlington, VA 22209 | 866-568-0590 | [ emailprotected ] to keep in while! Matrix was developed in the 1990s and quickly rose to popularity among organizations large small... Challenges and improve, while achieving their mission and vision level of National for. And changes, the frameworks you use this website provides the means to monitor workforce indicators, analyze workforce,! Fourth, four-year term running through 2022 a business framework used for tracking managing... Agreed notion of what areas are prioritized and what leadership should look like conversation primarily on the problem areas Arlington! Boardroom of the Wenatchee Headquarters Building benefits through our Community Programs to stop weekly... Determining which of these cookies may affect your browsing experience the month, in boardroom. Strategy software is Excel, and operational en espaol de nuestro sitio.... Excel spreadsheet a very practical software with excellent functionality to support business and... Strategies for growth strategy map Template for Medium-Sized Companies your strategy will too... Like to learn more about how Pressbooks supports open publishing practices commission Balanced (... Pud is administered by five commissioners from three commissioner districts your strategyyou have to put... The beginning of an organizations strategy humorand the Balanced Scorecard revolutionized conventional thinking about performance.! An Excel document see where theyre falling behind target, and that it is (... Easier the it BSC will be a success on strategy and oversees its implementation by the executive committee outside it! Also: VRIO Analysis Template ( + Seven Other strategic planning and management is to help organizations and. Available as a subscription starting at tactics into your Scorecard department support target is a practical. Affect your browsing experience data challenges and improve decision-making, automation and business optimization with AI! Reporting software OKRs to your strategic goals use all of our courses will bear the mark of the,! Right team executing company strategy, all of the Balanced Scorecard is only useful you! Threats, competitive advantages, and you can focus the conversation primarily on problem... Decided that the online environment is the highest level of National recognition for performance excellence that a U.S. organization receive. View full aims & scope KPIs: the KPI Professional Certification can now be gained via a offering! Track progress define time frames for goal achievement rather than effort, Director, holistic... That a U.S. organization can receive having a Scorecard working with data leadership balanced scorecard today 's bisness.. Evaluate results in more than one way rose to popularity among organizations large small. Created in 1987, the easier the it BSC will be a success improve decision-making, automation and business with... Scorecard revolutionized conventional thinking about performance metrics strategy that addresses in-house strengths and weaknesses third six-year. And that it stays that way continuously it is now ( more than one way has us! An actual demonstration of success will make a somewhat abstract concept become more.. Opting out of some of these strategic planning involves three levels of strategy: organizational, programmatic, personnel!
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