advantage - Blog - Global Risk Community2024-03-28T11:42:00Zhttps://globalriskcommunity.com/profiles/blogs/feed/tag/advantageTransforming Employee Engagement into a Competitive Advantage? Here's Howhttps://globalriskcommunity.com/profiles/blogs/transforming-employee-engagement-into-a-competitive-advantage2020-10-23T05:32:41.000Z2020-10-23T05:32:41.000ZMark Bridgeshttps://globalriskcommunity.com/members/MarkBridges<div><p><a href="{{#staticFileLink}}8219691258,original{{/staticFileLink}}" target="_blank"><img class="align-right" src="{{#staticFileLink}}8219691258,original{{/staticFileLink}}" alt="8219691258?profile=original" width="400" /></a>Organizations typically focus on Customer-centric Design in their Strategic Planning and overlook the critical driver of Performance, Growth and Operational Excellence—their employees. With cut-throat competition now the norm the realization has become clearer that employees are:</p><ul><li>The face of the business and create lasting—or perishing—brand impression.</li><li>Sources of innovation and organizational knowledge.</li><li>Representation of the company’s service philosophy.</li><li>Expected to live by its Organizational Culture and values.</li></ul><p>Employee Engagementhas emerged as one of the significant pillars on which the Competitive Advantage, Productivity, and Growth of an organization rests. What, exactly, does it mean when an employee is engaged? Employee Engagement, over the years, has been thought of in terms of:</p><ul><li>Personal engagement with the organization.</li><li>Focus on performance of assigned work.</li><li>Worker burnout.</li><li>Basic needs (meaningful work, safe workplace, abundant resources).</li><li>Attention on Cognitive, Emotional and Behavioral components related to an individual’s performance.</li></ul><p>Although Employee Engagement is widely seen as an important concept, there has been little consensus on its definition or its components either in business or in the academic literature.</p><p>Kumar and Pansari’s 2015 study define Employee Engagement as:</p><blockquote><p>"a multidimensional construct that comprises all of the different facets of the attitudes and behaviors of employees towards the organization".</p></blockquote><p>The multidimensional construct of Employee Engagement has been synthesized into the following 5 components (or dimensions).</p><ol><li>Employee Satisfaction</li><li>Employee Identification</li><li>Employee Commitment</li><li>Employee Loyalty</li><li>Employee Performance</li></ol><p>The 5 dimensions of Employee Engagement have been found to have a direct correlation with high profitability, as substantiated by a number of research studies:</p><p><a href="https://flevy.com/browse/flevypro/5-dimensions-of-employee-engagement-5272"><img class="aligncenter size-full wp-image-7507" src="https://flevy.com/blog/wp-content/uploads/2020/10/5-Dimensions-of-EE-Slide-deck-image.png" alt="" width="1002" height="752" /></a></p><p>For instance, a study of 30 companies in the airline, telecom and hotel industries shows a close relationship between Employee Engagement and growth in profits. After controlling other relevant factors—i.e., GDP level, marketing costs, nature of business, and type of goods, the study found:</p><ul><li>Highest profitability growth—10% to 15%—in companies with highly engaged employees.</li><li>Lowest level of profitability growth—0% to 1%—in companies with disengaged employees.</li></ul><p>Research reveals that Employee Engagement affects 9 performance outcomes; including Customer Ratings, Profitability, Productivity, Safety Incidents, Shrinkage (theft), Absenteeism, Patient Safety Incidents, Quality (Defects), and Turnover.</p><p>The differences in performance between engaged and actively disengaged work units revealed:</p><ul><li>Top half Employee Engagement scores nearly doubled the odds of success compared with those in the bottom half.</li><li>Companies with engaged workforces have higher earnings per share (EPS).</li></ul><p>These 5 dimensions become the base for measuring Employee Engagement in a meaningful manner that permits managers to identify areas of improvement. To assess an organization’s current status of Employee Engagement, a measurement system is needed that includes:</p><ul><li>Metrics for each component of Employee Engagement.</li><li>A scale for scoring metrics in each component.</li><li>A comprehensive scorecard that pulls everything together.</li></ul><p>Let us delve a little deeper into the first 2 dimensions of Employee Engagement.</p><h3>Employee Satisfaction</h3><p><strong>Definition</strong></p><p>Employee Satisfaction is the positive reaction employees have to their overall job circumstances, including their supervisors, pay and coworkers.</p><p><strong>Details</strong></p><p>When employees are satisfied, they tend to be:</p><ul><li>Committed to their work.</li><li>Less absent and more productive in terms of quality of goods and services.</li><li>Connected with the organization’s values and goals.</li><li>Perceptive about being a part of the organization.</li></ul><p><strong>Metrics</strong></p><p>The 5 metrics that gauge Employee Engagement in terms of Employee Satisfaction include:</p><ol><li>Receiving recognition for a job.</li><li>Feeling close to people at work.</li><li>Feeling good about working at the organization.</li><li>Feeling secure about the job.</li><li>Believing that the management is concerned about employees.</li></ol><p>We take a look at another dimension central in significance.</p><h3>Employee Commitment</h3><p><strong>Definition</strong></p><p>Signifies what motivates the employees to do more than what’s in their job descriptions.</p><p><strong>Details</strong></p><p>Employee Commitment is much higher for the employees who identify with the organization. This element:</p><ul><li>Develops over time and is an outcome of shared experiences.</li><li>Is often an antecedent of loyalty.</li><li>Induces employees to guard the organization’s secrets.</li><li>Pushes employees to work for organization’s best interests.</li></ul><p>Research has found that employees with the highest levels of commitment:</p><ul><li>Perform 20% better.</li><li>Are 87% less likely to leave the organization.</li></ul><p><strong>Metrics</strong></p><p>The 3 metrics that gauge the Employee Commitment dimension of Employee Engagement include:</p><ol><li>Commitment to deliver the brand promise along with knowledge of the brand.</li><li>Very committed to delivering the brand promise.</li><li>Feels like the organization has a great deal of personal meaning.</li></ol><p>Interested in learning more about these <a href="https://flevy.com/browse/flevypro/5-dimensions-of-employee-engagement-5272">foundational pillars to Employee Engagement</a>? You can <a href="https://flevy.com/browse/flevypro/5-dimensions-of-employee-engagement-5272">download an editable PowerPoint on <strong>5 Dimensions of Employee Engagement</strong> here</a><u> </u>on the <a href="https://flevy.com/browse">Flevy documents marketplace</a>.</p><h3><strong>Are you a Management Consultant?</strong></h3><p>You can download this and hundreds of other <a href="http://flevy.com/pro/library/frameworks">consulting frameworks</a> and <a href="http://flevy.com/pro/library/consulting">consulting training guides</a> from the <a href="http://flevy.com/pro/library">FlevyPro library</a>.</p></div>The Devil is in the Details: Your Primer to a Lean Culturehttps://globalriskcommunity.com/profiles/blogs/the-devil-is-in-the-details-your-primer-to-a-lean-culture2020-07-04T07:00:00.000Z2020-07-04T07:00:00.000ZJoseph Robinsonhttps://globalriskcommunity.com/members/JosephRobinson808<div><p></p><p>Culture is essential today in helping employees and management survive in today’s environment. Survival has become a strong word <a href="https://flevy.com/blog/wp-content/uploads/2020/03/pic-1-Lean-Culture-Framework-300x200.jpeg" target="_blank"><img src="https://flevy.com/blog/wp-content/uploads/2020/03/pic-1-Lean-Culture-Framework-300x200.jpeg?profile=RESIZE_710x" width="300" class="align-right" alt="pic-1-Lean-Culture-Framework-300x200.jpeg?profile=RESIZE_710x" /></a>today. Without culture, everyone in the organization would act or behave differently. No one would be able to anticipate someone else’s behavior, and no one would understand why people behave the way they do. When this happens, the organization’s performance would be very chaotic.</p><p>What is culture? <a href="https://flevy.com/browse/stream/culture">Organizational Culture</a> is a learned process and is developed by the organization as a response to the working environment established by the organization’s leadership and management team. It is established in all organizations, regardless of whether its development is guided or unguided. Either way, culture can have a positive or negative impact on the organization’s performance.</p><h3>A Take Away at Corporate Culture and a Lean Culture</h3><p>Corporate culture is a set of standards shared by members of an organization. It produces behavior that falls within a range that the organization considers proper and acceptable. Having the right culture will increase the organization’s chance to survive.</p><p>What is a Lean Culture? <a href="https://flevy.com/browse/flevypro/lean-culture-primer-4065">Lean Culture</a> is a total system and represents a complete and comprehensive culture change in the organization. A Lean Culture enables lean implementation and represents a completely new way of managing the organization through <a href="https://flevy.com/lean-management">Lean Management</a>.</p><p>The development of a Lean Culture starts with a Lean Culture Framework.</p><h3>The Lean Culture Framework</h3><p>The development of a Lean Culture starts with a definition of a <a href="https://flevy.com/browse/flevypro/lean-culture-primer-4065">Continuous Improvement Lean Culture</a>. As a starting point, the Lean Culture Framework consists of 5 essential elements.</p><p><a href="https://flevy.com/browse/flevypro/lean-culture-primer-4065" target="_blank"><img src="https://flevy.com/blog/wp-content/uploads/2020/03/pic-2-Lean-Culture-Framework.png?profile=RESIZE_710x" width="750" class="align-full" alt="pic-2-Lean-Culture-Framework.png?profile=RESIZE_710x" /></a></p><ol><li><strong>Definition</strong>. This element ensures that the organization gets to properly define what Continuous Improvement Lean Culture really means for the entire organization. When this is undertaken, improvement becomes a part of the organization’s culture.</li></ol><ol start="2"><li><strong>Translation and Integration</strong>. The second element ensures that culture is well translated and integrated into values and related behaviors. It is important for organizations to understand that strong values can guide the behaviors of people.</li></ol><ol start="3"><li> <strong>Strategic Applications</strong>. This basically refers to the strategic application of cultural elements. If problem-solving is one of the cultural elements, the strategic plan of the organization can take a problem-solving approach to achieve key targets.</li></ol><ol start="4"><li><strong>Diligent Development</strong>. This element focuses on the diligent development of a comprehensive culture. This ensures the alignment of programs with a long-term problem-solving culture of improvement of the organization and eliminates conflicting messages.</li></ol><ol start="5"><li><strong>Reinforcement</strong>. The fifth element ensures that reinforcement is undertaken with regular recognition. When this is done, the organization can expect to gain more improvements.</li></ol><p>The <a href="https://flevy.com/browse/flevypro/lean-culture-primer-4065">five (5) elements of the Lean Culture Framework</a> must be properly structured to ensure its effective implementation. In today's business environment where <a href="https://flevy.com/business-toolkit/competitive-advantage">Competitive Advantage</a> and <a href="https://flevy.com/operational-excellence">Operational Excellence</a> is gaining ground towards sustainability, organizations just need to learn how to operate smartly and effectively. This can be done when a Lean Culture Framework is established and implemented.</p><h3>The Devil is in The Details: The Implementation</h3><p>Culture change typically is not greeted with open arms. To be successful, a Lean Culture change initiative must have a few DO-NOT-PASS-GO items. A few of these are leadership involvement and engagement, cultural dynamics, and education. Implementation of a Lean Culture Framework may seem easy but it is not. It requires care, patience, a bottomless energy source, and an iron will to succeed. It can be of advantage if organizations are well guided in undertaking a culture change. A well developed and thought-of plan can highly help organizations go through culture change with just a few bumps along the way.</p><p>Interested in gaining more understanding of <a href="https://flevy.com/browse/flevypro/lean-culture-primer-4065">Lean Culture</a>? You can learn more and download an <a href="https://flevy.com/browse/flevypro/lean-culture-primer-4065">editable PowerPoint about <strong>Lean Culture</strong> here</a> on the <a href="https://flevy.com/browse">Flevy documents marketplace</a>.</p><p><strong>Are you a management consultant?</strong></p><p>You can download this and hundreds of other <a href="https://flevy.com/pro/library/frameworks">consulting frameworks</a> and <a href="https://flevy.com/pro/library/consulting">consulting training guides</a> from the <a href="https://flevy.com/pro/library">FlevyPro library</a>.</p></div>Modernize Your Board’s Role in M&A and Achieve the Greatest Dealshttps://globalriskcommunity.com/profiles/blogs/modernize-your-board-s-role-in-m-amp-a-and-achieve-the-greatest2020-03-11T06:00:00.000Z2020-03-11T06:00:00.000ZJoseph Robinsonhttps://globalriskcommunity.com/members/JosephRobinson808<div><p>Many large corporations depend on <a href="https://flevy.com/business-toolkit/manda-mergers-and-acquisitions-ma">M&A</a> for growth and executives can boost the value that deals create. But poorly executed M&A<a href="http://flevy.com/blog/wp-content/uploads/2019/12/pic-2-Board-Excellence-MA-300x208.jpeg" target="_blank"><img src="http://flevy.com/blog/wp-content/uploads/2019/12/pic-2-Board-Excellence-MA-300x208.jpeg?profile=RESIZE_710x" width="300" class="align-right" alt="pic-2-Board-Excellence-MA-300x208.jpeg?profile=RESIZE_710x" /></a> can saddle investors with weak returns on capital for details. In fact, the margin between success and failure is slim.</p><p>Many Boards are reluctant to cross the line between governance and management. The level of engagement is often outside the comfort zone for some executives and directors. As such, they miss opportunities to help senior executives win at M&A.</p><p>There is a need to modernize the Board’s role in M&A. <a href="https://flevy.com/browse/flevypro/board-excellence-manda-3988">Modernizing the role of the Board in M&A</a> can result in the alignment of the Board and management on the need for bolder transactions with more upside potential. Further, this is essential in achieving a competitive advantage.</p><h3>The 3 Core Opportunities in M&A</h3><p>There are 3 core opportunities for the Board to play an impactful role in M&A.</p><p><a href="https://flevy.com/browse/flevypro/board-excellence-manda-3988" target="_blank"><img src="http://flevy.com/blog/wp-content/uploads/2019/12/Pic-1-Board-Excellence-MA-1024x768.png?profile=RESIZE_710x" width="750" class="align-full" alt="Pic-1-Board-Excellence-MA-1024x768.png?profile=RESIZE_710x" /></a></p><ol><li><strong>Potential for Value Creation</strong>. The first core opportunity, potential for <a href="https://flevy.com/business-toolkit/value-creation">Value Creation</a> enables the Board to challenge the executive’s thinking on potential transactions. This is an opportunity for the Board to maintain constant touch with the company’s M&A strategy, the pipeline of potential targets, and emerging deals.</li></ol><ol start="2"><li><strong>PMI Plans</strong>. This is an essential core opportunity that enables the Board to boost value creation to as much as 2-3x the net value. <a href="https://flevy.com/business-toolkit/pmi-post-merger-integration-pmi">Post-merger Integration (PMI) Plans</a> representat an opportunity to pressure test against stretch growth and cost goals before and after a deal. Greater variation in the quality of post-merger plans exist compared to financial analysis and pricing of transactions.</li></ol><ol start="3"><li><strong>Competitive Advantage in M&A</strong>. <a href="https://flevy.com/business-toolkit/competitive-advantage">Competitive Advantage</a> is a core opportunity that is unrelated to a transaction’s deadline. This is an opportunity to create a competitive advantage through M&A skills. These are corporate assets that can be difficult to copy. Making that decision to create a competitive advantage through M&A can lead to bolder decisions with more upside results.</li></ol><p>The 3 core opportunities can promote greater Board engagement. When this happens, discrete deals can be converted into ongoing deal processes and dialogues that can deliver greater value from M&A.</p><h3>Maximizing Core Opportunities to Attain the Greatest Deal</h3><p>The potential of the 3 Core Opportunities to embolden the role of the Board in M&A is great. Organizations just need to have a good understanding of each core opportunity and the underlying key areas or dimensions of each key area. Let us take a look at the 1st Core Opportunity: Potential for Value Creation.</p><p>The Potential for Value Creation has 3 critical key areas that can challenge that lead opportunistic transaction to succeed. One critical key area is Strategic Fit.</p><p>Strategic Fit is key to determining why a company is a better owner than competing buyers. Deals driven by strategy succeed more often when they are part of a stream of similar transactions that support that strategy. This is a key element in <a href="https://flevy.com/browse/stream/strategy-development">Strategy Development</a>.</p><p><em><strong>How can we enhance the role of the Board relative to this key area?</strong></em> The Board can play a vital role in clarifying the relationship between a potential transaction and <a href="https://flevy.com/strategic-planning">strategic planning</a>. They are also in the best position to define how the deal will support organic-growth efforts in target markets and provide complementary sources of value creation.</p><p>The other key areas under the Potential for Value Creation are <a href="https://www.investopedia.com/terms/f/financial-statements.asp">Financial Statements</a> and Risks vs. Rewards. The Financial Statements is a key area that can correct the Board’s tendency to put emphasis on price-to-earnings multiples which can be limiting. The Risks vs. Rewards, on the other hand, is a key area that challenges the Board to acknowledge uncertainties in pro forma.</p><p>The other 2 Core Opportunities also have their own essential points or dimensions the Board must focus on. Only then can these core opportunities be of the maximum potential of modernizing the Board’s role in M&A and gaining the greatest value.</p><p>Interested in gaining more understanding of achieving <a href="https://flevy.com/browse/flevypro/board-excellence-manda-3988">Board Excellence through M&A</a>? You can learn more and download an <a href="https://flevy.com/browse/flevypro/board-excellence-manda-3988">editable PowerPoint about <strong>Board Excellence: M&A</strong> here</a> on the <a href="https://flevy.com/browse">Flevy documents marketplace</a>.</p><p><strong>Are you a management consultant?</strong></p><p>You can download this and hundreds of other <a href="http://flevy.com/pro/library/frameworks">consulting frameworks</a> and <a href="http://flevy.com/pro/library/consulting">consulting training guides</a> from the <a href="http://flevy.com/pro/library">FlevyPro library</a>.</p></div>What Makes a Value Proposition Truly Compelling?https://globalriskcommunity.com/profiles/blogs/what-makes-a-value-proposition-truly-compelling2016-08-01T20:22:20.000Z2016-08-01T20:22:20.000ZDavid Tanghttps://globalriskcommunity.com/members/DavidTang<div><p>First, let’s define <a href="https://flevy.com/browse/flevypro/customer-value-proposition-2369" target="_blank">Value Proposition</a>. Here’s what Wikipedia has to say:</p><blockquote><p>A value proposition is a promise of value to be delivered and acknowledged. Creating a value proposition is a part of business strategy. Kaplan and Norton say “Strategy is based on a differentiated customer value proposition. Satisfying customers is the source of sustainable value creation.”</p></blockquote><p>Why is having a clear and compelling Value Proposition so important?</p><ul><li>It solves a customer problem or satisfies a customer need.</li><li>It is the reason why customers turn to our company vs. a competitor--i.e. it is a source of Competitive Advantage.</li><li>It is the foundation to a company’s business model--other components include Profit Formula and Key Resources & Processes.</li></ul><p>Most companies believe they already have a compelling Value Proposition--a product offering that’s the best thing since Pokemon Go. <em>But, do your customers agree? </em>Is there a disconnect between the value as defined by you (i.e. Customer Value Proposition) and the value as perceived by the customer (i.e. Customer Value Perception)? This disconnect is known as the the <strong>Value Perception Gap</strong>.</p><p>To close the Value Perception Gap, we need to have an offering that is truly compelling. A compelling offering must both</p><ol><li>demonstrate high value to the customer (customer says, “I need” or “I want”); and</li><li>be highly differentiated (customer says, “the alternatives aren’t as good”).</li></ol><p>A useful tool for determining those attributes that fulfill these criteria is the Value-Differentiation 2×2 Matrix, which defines categories of offering attributes:</p><ul><li><strong>Table Stakes -</strong> Features that are important to customer, but are provided by all competitors at a similar level.</li><li><strong>Game Changers -</strong> These are the must-haves that allow you to truly craft a compelling Customer Value Proposition.</li><li><strong>Neutrals -</strong> Features that are irrelevant to consumers.</li><li><strong>Fool’s Gold -</strong> These are distinctive, but do not drive true value. These “nice-to-have” attributes alone will not meet the customer’s basic needs.</li></ul><p><a href="https://flevy.com/browse/flevypro/customer-value-proposition-2369" target="_blank"><img class="center align-center" src="https://media.licdn.com/mpr/mpr/shrinknp_800_800/AAEAAQAAAAAAAAl6AAAAJDVjZjBkNTZlLTllZjYtNDQ5ZS1hNzQ4LTQyYWU4MzQ4ZTY4Ng.gif" width="640" height="480" alt="AAEAAQAAAAAAAAl6AAAAJDVjZjBkNTZlLTllZjYtNDQ5ZS1hNzQ4LTQyYWU4MzQ4ZTY4Ng.gif" /></a></p><p>At a minimum, we must have the Table Stake attributes. Without these, we aren’t a viable player in the industry, as we are not even meeting the customer’s basic needs.</p><p>To differentiate ourselves in a useful way, we need to develop the Game Changer attributes. Game Changers score high on both Value Proposition and Value Perception, thus minimizing the Value Perception Gap.</p><p>Many companies spend time and effort developing and marketing the Fool’s Gold attributes. While these attributes may also make the offering highly differentiated, the customer don’t need these bells and whistles. Companies that create offering with these features don’t have an accurate understanding of what their customers truly need. These offerings (and companies) don’t last.</p><p><a href="{{#staticFileLink}}8028250263,original{{/staticFileLink}}"><img width="750" src="{{#staticFileLink}}8028250263,original{{/staticFileLink}}" class="align-center" alt="8028250263?profile=original" /></a></p><p>Another powerful framework for identifying and prioritizing those attributes to create an offering of high Value Differentiation is the <strong>Value Curve.</strong> (The Value Curve is at the foundation of <a href="http://flevy.com/blue-ocean-strategy" target="_blank">Blue Ocean Strategy</a>, an innovative growth strategy framework for creating an uncontested market space.) The Value Curve allows us to allocate our resources by answering the questions:</p><ul><li>Which of the attributes that our industry takes for granted should be eliminated?</li><li>Which attributes should be reduced well below the industry’s standards?</li><li>Which attributes should be raised well above the industry’s standards?</li><li>Which attributes should be created that the industry has never offered?</li></ul><p>Since we don’t have unlimited resources, we can only increase value on the Game Changers by reducing or eliminating cost of non-essential attributes.</p><p><em>What do you think makes a compelling Value Proposition?</em></p><p>You can download an editable PowerPoint about the <a href="https://flevy.com/browse/flevypro/customer-value-proposition-2369" target="_blank">Customer Value Proposition here on the Flevy</a> documents marketplace.</p></div>The Delta Model -- Toward a Unified Framework of Strategyhttps://globalriskcommunity.com/profiles/blogs/the-delta-model-toward-a-unified-framework-of-strategy2015-03-12T14:00:00.000Z2015-03-12T14:00:00.000ZEnrique Raul Suarezhttps://globalriskcommunity.com/members/EnriqueRaulSuarez<div><p><a href="{{#staticFileLink}}8028229677,original{{/staticFileLink}}"><img width="750" height="561" class="align-center" style="width:751px;height:549px;" src="{{#staticFileLink}}8028229677,original{{/staticFileLink}}" alt="8028229677?profile=original" /></a></p><p style="text-align:center;"><span style="color:#888888;">Two Fundamental Paradigms</span></p><p style="text-align:center;"></p><p>In spite of the enormous proliferation of competing schemes in the business strategy literature, there are two fundamental paradigms that have emerged as the most influential in the last two decades. First, Competitive Positioning, as proposed by Michael Porter from the Harvard Business School in the 1980’s, and, second, the Resource-Based View of the firm that evolved during the 1990’s.</p><p>Porter’s arguments are drawn from the work of organizational economists who place the industry as the central focus of strategic attention. According to Porter’s framework, structural characteristics of a firm’s industry best explain variations in firm performance. In other words, Porters sees good industries, such as pharmaceuticals, where most players enjoy high margins; he also sees bad industries, such as trucking, where most participants suffer from low profitability.</p><p>In contrast, Arnoldo C. Hax and Dean L. Wilde II have developed a new strategy framework that they called the Delta Model – Delta being the Greek letter that stands for transformation and change.</p><p>They felt that the new technology surrounding the internet provides novel and effective ways to link to the customer and to the extended enterprise, opening up new sources of strategic positioning that should be properly evaluated.</p><p>They strongly belief that the Delta Model has the ability to complement the perspectives of Porter’s frameworks and the Resource-Based View of the Firm and provide the integrative glue that may result in one unified strategy framework.</p><p>I will now briefly describe the three frameworks which is not intended to be exhaustive. I will deal with the frameworks at a level sufficient for the reader to understand the implications of our claim regarding unification.</p><p></p><p><a href="{{#staticFileLink}}8028229856,original{{/staticFileLink}}">The%20Delta%20Model%20--%20Toward%20a%20Unified%20Framework.pdf</a></p></div>