ISDS 3115 Kelle Chapter 2 – Flashcards

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maquiladoras
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Mexican factories located along the U.S. Mexican border that receive preferential tariff treatment
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World trade organization
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an international organization that promotes world trade by lowering barriers to the free flow of goods across borders
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North American Free Trade Agreement
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a free trade agreement between Canada, Mexico, and the US
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European Union
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a European trade group that has 27 member states
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Mission
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the purpose or rationale for an organization's existance
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Strategy
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how an organization expects to achieve its missions and goals
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competitive advantage
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the creation of a unique advantage over competitors
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differentiation
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distinguishing the offerings of an organization in a way that the customer perceives as adding value
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experience differentiation
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engaging a customer with a product through imaginative use of the five senses, so the customer "experiences" the product
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low-cost leadership
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achieving maximum value, as perceived by the customer
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Response
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a set of values related to rapid, flexible, and reliable performance
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resource view
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method managers use to evaluate the resources at their disposal and manage or alter them to achieve a competitive advantage
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value-chain analysis
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a way to identify those elements in the product/service chain that uniquely add value
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five forces model
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a method of analyzing the five forces in the competitive environment
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SWOT analysis
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a method of determining internal strengths and weaknesses and external opportunities and threats
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Key Success Factor (KSFs)
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activities or factors that are key to achieving competitive advantage
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Core competencies
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a set of skills, talents, and capabilities in which a firm is particularly strong
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activity map
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a graphical link of competitive advantage, KSFs, and supporting activities
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outsourcing
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transferring a firm's activities that had traditionally been internal to external suppliers
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theory of comparative advantage
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a theory which states that countries benefit from specializing in (and exporting) goods and services in which they have relative advantage, and they benefit from importing goods and services in which they have a relative disadvantage
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international business
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a business that engages in cross-border transactions
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Multinational corporation (MNC)
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a firm that has extensive involvement in international business, owning or controlling facilities in more than one country
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international strategy
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a strategy in which global markets re penetrated using exports and licenses
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multi-domestic strategy
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a strategy in which operating decisions are decentralized to each country to enhance local responsiveness
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global strategy
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a strategy in which operating decisions are centralized and headquarters coordinates the standardization and learning between facilities
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transnational strategy
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a strategy that combines the benefits of global-scale efficiencies with the benefits of local responsiveness
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which of the following international operations strategies involves a high degree of centralization?
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global
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impacts changes in laptop computer design that builds in wireless technology might have on OM strategy
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new human resource skills inventory needs to be revised capital investment is added for new equipment or processes
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impacts technology innovation in the manufacturing process might have on OM strategy
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new human resource skills quality standards need o be revised inventory needs to be adjusted
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What is the difference between a multinational corporation and an international business?
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For the multinational firm, the business done outside the country is especially significant
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The stated purposed of NAFTA is to
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phase out all trade and tariff barriers among Canada, Mexico and the U.s
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what are the reasons why domestic business operations decide to change to some form of international operation?
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improve operations improve products improve the supply chain
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A strategy is
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an action plan to achieve a mission
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what is the purpose or rationale for an organizations existence?
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mission
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example of differentiation
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Hunter fan as its a premier maker of quality ceiling fans that lower heating and cooling costs for its customers
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example of cost leadership
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wal mart, as it has the low overhead and huge buying power to pressure its suppliers into concessions
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example of response
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johnson electric, as it competes on speed - speed design, productivity , and delivery
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competing on differentiation is
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concerned with uniqueness
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IS NOT one of the 10 strategic OM decisions listed in the text
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finance/accounting ---- this is a primary function to an organization
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which is an OM strategy / issue during the growth stage of the product life cycle?
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forecasting critical shift towards product focus enhance distribution
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SWOT analysis refers to
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strengths opportunities weaknesses threats
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Advantages of outsourcing
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accessing outside technology gaining outside expertise cost savings
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An international business is a firm that
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engages in international trade or investment
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which of the following international operations strategies uses decentralized authority with substantial autonomy at each business?
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multidomestic
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globalization strategies could simplify the operations managers job T>F
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True
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3 strategic approaches =
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differentiation response cost leadership
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What is a graphical link of competitive advantage, KSF's , and supporting activities?
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activity map
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the creation of a unique advantage over competitors is referred to as
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competitive advantage
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what is an international strategy that involves a high degree of centralization?
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global
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a method managers use to evaluate the resources at their disposal and mange or alter them to achieve competitive advantage is referred to as
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resources view
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DISADVANTAGES of outsourcing
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negative impact on employees loss of control risks may not manifest themselves for years
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the OM strategy issues during the introduction stage of the product life cycle
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frequent product and process design changes limited models high production costs
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competing on cost is
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achieving maximum value as perceived by the customer
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A strategy is established prior to establishing a mission the purpose for which an organization is established an action plan to achieve a mission a functional area of the firm
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an action plan to achieve a mission
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Which of the following is NOT one of the three strategic approaches to competitive advantage? cost leadership differentiation response innovation
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innovation
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Which of the following is the purpose of rationale for an organizations existence? articles of incorporation strategy charter mission
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mission
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Which of the following is NOT one of the 10 strategic OM decisions listed in the text? location layout quality finance/accounting
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finance/accounting
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Which of the following is NOT an OM strategy/issue during the introduction stage of the product life cycle? frequent product and process design changes high production costs limited models long production runs
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long production runs
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Which of the following is NOT an OM strategy/issue during the growth stage of the product life cycle? reduce capacity shift towards product focus forecasting critical enhance distribution
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reduce capacity
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A method managers use to evaluate the resources at their disposal and manage or alter them to achieve competitive advantage is referred as resources view competitive advantage value chain analysis five forces analysis
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resources view
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What impacts the maturing of a product might have on OM strategy below purchasing needs to be revised product changes decrease cost cutting is instituted capital investment is added for new equipment or processes optimum capacity may be achieved new human resources skills
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product changes decrease cost cutting is instituted optimum capacity may be achieved longer production runs are used optimum capacity may be achieved design compromises are instituted
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what impacts technology innovation in the manufacturing process might have on OM strategy quality standards need to be revised product design needs to be revised labor skills decrease cost cutting instituted inventory needs to be revised manufacturing process stabalizes
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quality standards need to be revised product design needs to be revised inventory needs to be revised product designs needs to be revised purchasing needs to be revised inventory needs to be revised
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which impacts in laptop computer design that bulds in wireless technology might have on OM strategy manufacturing process stabalizes product changes decrease purchasing needs to be revised longer production runs are used inventory needs to be revised maintenance procedures need to be revised
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purchasing needs to be revised inventory needs to be revised maintenance procedures need to be revised
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correct impacts that major increases in oil prices might have on OM strategy for the energy inefficient company, change in competitive position for a producer with high energy costs change in the competitive position for the energy inefficient company , change in the cost structure , result in higher selling prices for a producer with high energy costs, change in the cost structure, result in higher selling prices
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for the energy inefficient company, change in competitive position for a producer with high energy costs, change in the cost structure, result in higher selling prices
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what impacts the OM strategy if there are correct impacts on water and air quality legislation difficulty in using the specific technologies increasing production cost closing of numerous plants including paper mills and steel mills difficulty in predicting both the cost of production and the market demand
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difficulty in using the specific technologies increasing production cost closing of numerous plants including paper mills and steel mills
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what impacts that fewer young prospectie employees entering the labor market might have on OM strategy high unemployment rates tighter job market change in the income of employees in the lower pay classifications added capital investment for new equipment or processes
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tighter job market
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impacts that inflation versus stable prices have on OM change in the income of employees in the lower pay classifications the manufacturing process stabilizes OM function focuses more on standardization difficulty in predicting both the cost of production and the market demand
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difficulty in predicting both the cost of production and the market demand
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impacts legislation moving health insurance from a pretax benefit to taxable income change in the income of employees in the lower pay classifications increase in the take home pay of employees by the amount of the taxes operations managers get pressure to in crease wages of employees in the lower pay classifications decrease in the take home pay of employees by the amount of taxes
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change in the income of employees in the lower pay classifications operations managers get pressure to in crease wages of employees in the lower pay classifications decrease in the take home pay of employees by the amount of taxes
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SWOT analysis refers to strengths , opponents , weaknesses, and threats support opponents weaknesses and threats strengths , opportunities , weaknesses, and threats
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strengths , opportunities , weaknesses, and threats
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What is a graphical link of competitive advantage , KSF's , and supporting activities
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activity map
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A set of skills , talents, and capabilities in which a firm is particularly strong is referred to as core competencies differentiation key success factors experience differentiation
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core competencies
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Which of the following is the core competence for Honda? product flexibility gas powered engines sustainable design advertising
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gas powered engines
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Parent company of ARROW SHIRTS AND COUNTRY
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bidermann International france
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Parent company of Braun Household Appliences
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Proctor and Gamble U.S
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Parent company of Volvo autos
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Geely china
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Parent company of Firestone Tires
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bridgestone japan
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godiva chocolate
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campbell soup u.s
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haagen dazs ice cream
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nestle switzerland
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jaguar autos
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tata india
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MGM movies
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credit lyonnais France
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lamborghini Autos
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volkswagen germany
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good rich tires
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michelin france
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alpo pet foods
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nestle switzerland
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