MIME-Version: 1.0
Content-Type: multipart/related; boundary="----=_NextPart_01C44904.84C44A90"

This document is a Web archive file.  If you are seeing this message, this means your browser or editor doesn't support Web archive files.  For more information on the Web archive format, go to http://officeupdate.microsoft.com/office/webarchive.htm

------=_NextPart_01C44904.84C44A90
Content-Location: file:///C:/D17BA278/bbb-newsletter8.htm
Content-Transfer-Encoding: quoted-printable
Content-Type: text/html; charset="us-ascii"

<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN">
<html xmlns:v=3D"urn:schemas-microsoft-com:vml"
xmlns:o=3D"urn:schemas-microsoft-com:office:office"
xmlns:w=3D"urn:schemas-microsoft-com:office:word"
xmlns=3D"http://www.w3.org/TR/REC-html40">

<head>
<meta http-equiv=3DContent-Type content=3D"text/html; charset=3Dus-ascii">
<meta name=3DProgId content=3DWord.Document>
<meta name=3DGenerator content=3D"Microsoft Word 10">
<meta name=3DOriginator content=3D"Microsoft Word 10">
<link rel=3DFile-List href=3D"bbb-newsletter8_arquivos/filelist.xml">
<link rel=3DEdit-Time-Data href=3D"bbb-newsletter8_arquivos/editdata.mso">
<title>Beyond Budgeting no Brasil</title>
<!--[if gte mso 9]><xml>
 <o:DocumentProperties>
  <o:Subject>Beyond Budgeting Newsletter</o:Subject>
  <o:Author>Niels Pflaeging, MetaManagement Group &amp; BBRT</o:Author>
  <o:Keywords>Brasil, Beyond Budgeting, Newsletter</o:Keywords>
  <o:Template>Normal</o:Template>
  <o:LastAuthor>Niels</o:LastAuthor>
  <o:Revision>2</o:Revision>
  <o:TotalTime>1665</o:TotalTime>
  <o:LastPrinted>2004-05-06T01:47:00Z</o:LastPrinted>
  <o:Created>2004-06-03T03:48:00Z</o:Created>
  <o:LastSaved>2004-06-03T03:48:00Z</o:LastSaved>
  <o:Pages>1</o:Pages>
  <o:Words>1330</o:Words>
  <o:Characters>7388</o:Characters>
  <o:Category>Beyond Budgeting, BBRT</o:Category>
  <o:Manager>www.metamanagementgroup.com</o:Manager>
  <o:Company>MetaManagement Group</o:Company>
  <o:Lines>295</o:Lines>
  <o:Paragraphs>57</o:Paragraphs>
  <o:CharactersWithSpaces>8661</o:CharactersWithSpaces>
  <o:Version>10.2625</o:Version>
 </o:DocumentProperties>
</xml><![endif]--><!--[if gte mso 9]><xml>
 <w:WordDocument>
  <w:Zoom>90</w:Zoom>
  <w:SpellingState>Clean</w:SpellingState>
  <w:GrammarState>Clean</w:GrammarState>
  <w:DocumentKind>DocumentEmail</w:DocumentKind>
  <w:HyphenationZone>21</w:HyphenationZone>
  <w:BrowserLevel>MicrosoftInternetExplorer4</w:BrowserLevel>
 </w:WordDocument>
</xml><![endif]-->
<style>
<!--
 /* Font Definitions */
 @font-face
	{font-family:"Arial Unicode MS";
	panose-1:0 0 0 0 0 0 0 0 0 0;
	mso-font-charset:0;
	mso-generic-font-family:roman;
	mso-font-format:other;
	mso-font-pitch:variable;
	mso-font-signature:3 0 0 0 1 0;}
@font-face
	{font-family:Verdana;
	panose-1:2 11 6 4 3 5 4 4 2 4;
	mso-font-charset:0;
	mso-generic-font-family:swiss;
	mso-font-pitch:variable;
	mso-font-signature:536871559 0 0 0 415 0;}
 /* Style Definitions */
 p.MsoNormal, li.MsoNormal, div.MsoNormal
	{mso-style-parent:"";
	margin:0cm;
	margin-bottom:.0001pt;
	mso-pagination:widow-orphan;
	font-size:12.0pt;
	font-family:"Times New Roman";
	mso-fareast-font-family:"Times New Roman";
	color:windowtext;}
a:link, span.MsoHyperlink
	{color:black;
	text-decoration:underline;
	text-underline:single;}
a:visited, span.MsoHyperlinkFollowed
	{color:#333333;
	text-decoration:underline;
	text-underline:single;}
p.MsoAutoSig, li.MsoAutoSig, div.MsoAutoSig
	{margin:0cm;
	margin-bottom:.0001pt;
	mso-pagination:widow-orphan;
	font-size:12.0pt;
	font-family:"Times New Roman";
	mso-fareast-font-family:"Times New Roman";
	color:windowtext;}
p
	{mso-margin-top-alt:auto;
	margin-right:0cm;
	mso-margin-bottom-alt:auto;
	margin-left:0cm;
	mso-pagination:widow-orphan;
	font-size:12.0pt;
	font-family:"Arial Unicode MS";
	mso-fareast-font-family:"Times New Roman";
	mso-bidi-font-family:"Times New Roman";
	color:black;}
span.EstiloDeEmail19
	{mso-style-type:personal;
	mso-style-noshow:yes;
	mso-ansi-font-size:10.0pt;
	font-family:Arial;
	mso-ascii-font-family:Arial;
	mso-hansi-font-family:Arial;
	mso-bidi-font-family:Arial;
	color:black;}
span.EstiloDeEmail20
	{mso-style-type:personal;
	mso-style-noshow:yes;
	mso-ansi-font-size:10.0pt;
	mso-bidi-font-size:10.0pt;
	font-family:Arial;
	mso-ascii-font-family:Arial;
	mso-hansi-font-family:Arial;
	mso-bidi-font-family:Arial;
	color:black;}
span.HTMLMarkup
	{mso-style-name:"HTML Markup";
	mso-style-parent:"";
	color:red;
	display:none;
	mso-hide:all;}
span.SpellE
	{mso-style-name:"";
	mso-spl-e:yes;}
span.GramE
	{mso-style-name:"";
	mso-gram-e:yes;}
@page Section1
	{size:612.0pt 792.0pt;
	margin:70.85pt 3.0cm 70.85pt 3.0cm;
	mso-header-margin:35.4pt;
	mso-footer-margin:35.4pt;
	border:solid windowtext 1.0pt;
	mso-border-alt:solid windowtext .5pt;
	padding:24.0pt 24.0pt 24.0pt 24.0pt;
	mso-paper-source:0;}
div.Section1
	{page:Section1;}
-->
</style>
<!--[if gte mso 10]>
<style>
 /* Style Definitions */
 table.MsoNormalTable
	{mso-style-name:"Tabela normal";
	mso-tstyle-rowband-size:0;
	mso-tstyle-colband-size:0;
	mso-style-noshow:yes;
	mso-style-parent:"";
	mso-padding-alt:0cm 5.4pt 0cm 5.4pt;
	mso-para-margin:0cm;
	mso-para-margin-bottom:.0001pt;
	mso-pagination:widow-orphan;
	font-size:10.0pt;
	font-family:"Times New Roman";}
table.NormaleTabelle
	{mso-style-name:"Normale Tabelle";
	mso-tstyle-rowband-size:0;
	mso-tstyle-colband-size:0;
	mso-style-noshow:yes;
	mso-style-parent:"";
	mso-padding-alt:0cm 5.4pt 0cm 5.4pt;
	mso-para-margin:0cm;
	mso-para-margin-bottom:.0001pt;
	mso-pagination:widow-orphan;
	font-size:10.0pt;
	font-family:"Times New Roman";}
</style>
<![endif]--><!--[if gte mso 9]><xml>
 <o:shapedefaults v:ext=3D"edit" spidmax=3D"31746"/>
</xml><![endif]--><!--[if gte mso 9]><xml>
 <o:shapelayout v:ext=3D"edit">
  <o:idmap v:ext=3D"edit" data=3D"1"/>
 </o:shapelayout></xml><![endif]-->
</head>

<body lang=3DPT-BR link=3Dblack vlink=3D"#333333" style=3D'tab-interval:35.=
4pt'>

<div class=3DSection1>

<table class=3DMsoNormalTable border=3D0 cellspacing=3D0 cellpadding=3D0 wi=
dth=3D600
 style=3D'width:450.0pt;mso-cellspacing:0cm;mso-padding-alt:0cm 0cm 0cm 0cm=
'>
 <tr style=3D'mso-yfti-irow:0'>
  <td style=3D'border-top:none;border-left:solid #CCCCCC 1.0pt;border-botto=
m:
  none;border-right:solid #CCCCCC 1.0pt;mso-border-left-alt:solid #CCCCCC .=
75pt;
  mso-border-right-alt:solid #CCCCCC .75pt;background:#3366FF;padding:.75pt=
 3.75pt 2.25pt 3.0pt'>
  <p class=3DMsoNormal style=3D'margin-top:6.0pt;margin-right:0cm;margin-bo=
ttom:
  6.0pt;margin-left:0cm'><b><i><span lang=3DEN-US style=3D'font-size:2.0pt;
  mso-bidi-font-size:12.0pt;font-family:Verdana;color:navy;mso-ansi-languag=
e:
  EN-US'><o:p>&nbsp;</o:p></span></i></b></p>
  <p class=3DMsoNormal style=3D'margin-top:6.0pt'><b><span lang=3DEN-US
  style=3D'font-size:18.0pt;mso-bidi-font-size:12.0pt;font-family:Verdana;
  color:#0000CC;mso-ansi-language:EN-US'><span
  style=3D'mso-spacerun:yes'>&nbsp;</span>Beyond Budgeting no Brasil<o:p></=
o:p></span></b></p>
  <p class=3DMsoNormal style=3D'margin-top:6.0pt'><b><span lang=3DEN-US
  style=3D'font-size:2.0pt;font-family:Verdana;color:#DC5900;mso-ansi-langu=
age:
  EN-US'><o:p>&nbsp;</o:p></span></b></p>
  <p class=3DMsoNormal align=3Dright style=3D'margin-bottom:6.0pt;text-alig=
n:right'><b><span
  lang=3DEN-US style=3D'font-size:9.0pt;mso-bidi-font-size:12.0pt;font-fami=
ly:Verdana;
  color:white;mso-ansi-language:EN-US'><a
  href=3D"http://www.metamanagementgroup.com/bbbrasil1.asp/"><span
  style=3D'font-size:10.0pt;color:white;font-weight:normal;mso-bidi-font-we=
ight:
  bold'>Newsletter</span><span style=3D'color:white;font-weight:normal;
  mso-bidi-font-weight:bold'> </span><span style=3D'font-size:18.0pt;color:=
white'>Jun/04</span><span
  style=3D'font-size:14.0pt;color:white'>: <br>
  </span><span style=3D'font-size:10.0pt;color:white;font-weight:normal;
  mso-bidi-font-weight:bold'>Entrevista/FAQ, <span class=3DSpellE>parte</sp=
an> 2
  &#8211; Henry Mintzberg &#8211; Balanced Scorecard</span></a></span></b><=
b><span
  lang=3DEN-US style=3D'font-size:9.0pt;mso-bidi-font-size:12.0pt;font-fami=
ly:Verdana;
  mso-fareast-font-family:"Arial Unicode MS";color:white;mso-ansi-language:
  EN-US'><o:p></o:p></span></b></p>
  </td>
 </tr>
 <tr style=3D'mso-yfti-irow:1'>
  <td style=3D'border-top:none;border-left:solid #CCCCCC 1.0pt;border-botto=
m:
  none;border-right:solid #CCCCCC 1.0pt;mso-border-left-alt:solid #CCCCCC .=
75pt;
  mso-border-right-alt:solid #CCCCCC .75pt;padding:.75pt 3.75pt 2.25pt 3.0p=
t'>
  <p><span style=3D'font-size:7.5pt;font-family:Verdana;color:#6A0000'>Junh=
o 2004
  | Not&iacute;cias, eventos e mat&eacute;rias sobre a gest&atilde;o <i>al&=
eacute;m
  do or&ccedil;amento </i>no Brasil </span><span style=3D'color:#6A0000'><o=
:p></o:p></span></p>
  </td>
 </tr>
 <tr style=3D'mso-yfti-irow:2;mso-yfti-lastrow:yes'>
  <td style=3D'background:#CCCCCC;padding:0cm 0cm 0cm 0cm'>
  <table class=3DMsoNormalTable border=3D0 cellspacing=3D1 cellpadding=3D0 =
width=3D"100%"
   style=3D'width:100.0%;mso-cellspacing:.7pt;mso-padding-alt:12.75pt 12.75=
pt 12.75pt 12.75pt'>
   <tr style=3D'mso-yfti-irow:0;page-break-inside:avoid;height:869.75pt'>
    <td rowspan=3D2 valign=3Dtop style=3D'background:#D9D9D9;padding:9.0pt =
12.75pt 12.75pt 12.75pt;
    height:869.75pt'>
    <p><span style=3D'font-size:10.0pt;font-family:Verdana'>Caro leitor,</s=
pan></p>
    <p><span style=3D'font-size:10.0pt;font-family:Verdana'>Finalmente, foi
    lan&ccedil;ado no Brasil o l</span><span style=3D'font-size:10.0pt;
    font-family:Verdana;mso-fareast-font-family:"Arial Unicode MS";mso-bidi=
-font-family:
    "Arial Unicode MS"'>ivro </span><b><span style=3D'font-size:10.0pt;
    font-family:Verdana'><a
    href=3D"http://www.livrariacultura.com.br/scripts/cultura/resenha/resen=
ha.asp?nitem=3D5016385">&#8220;<span
    style=3D'mso-fareast-font-family:"Arial Unicode MS";mso-bidi-font-famil=
y:
    "Arial Unicode MS"'>Ascens&atilde;o e Queda do Planejamento
    Estrat&eacute;gico&#8221;</span></a>, </span></b><span style=3D'font-si=
ze:
    10.0pt;font-family:Verdana'>de Henry Mintzberg, professor canadense rec=
onhecido
    internacionalmente como uma das mentes mais originais e influentes do m=
undo
    contempor&acirc;neo.<o:p></o:p></span></p>
    <p><span style=3D'font-size:10.0pt;font-family:Verdana;mso-fareast-font=
-family:
    "Arial Unicode MS";mso-bidi-font-family:"Arial Unicode MS"'>Em &uacute;=
ltima
    an&aacute;lise, a obra &eacute; uma esp&eacute;cie de manifesto para uma
    gest&atilde;o &#8220;al&eacute;m do or&ccedil;amento&#8221; e apresenta=
 uma
    grande contribui&ccedil;&atilde;o no sentido de como &#8220;desaprender=
 h&aacute;bitos
    e atitudes obsoletas&#8221;.<o:p></o:p></span></p>
    <p><span style=3D'font-size:10.0pt;font-family:Verdana;mso-fareast-font=
-family:
    "Arial Unicode MS";mso-bidi-font-family:"Arial Unicode MS"'>Mintzberg, =
um
    grande c&eacute;tico, explica, com certo humor, os dilemas e problemas =
que
    encontramos na tentativa de gerenciar a incerteza. Ele cita, entre outr=
os, <span
    class=3DSpellE>Ansoff</span>, mestre de gest&atilde;o, que j&aacute; em=
 1975 afirmou
    com certo cinismo: &#8220;Planejo, ent&atilde;o fa&ccedil;o&#8221;. Fra=
se que
    ainda pode ser ampliada para &#8220;Planejo porque n&atilde;o fa&ccedil=
;o&#8221;
    ou &#8220;N&atilde;o fa&ccedil;o porque planejo&#8221;. <o:p></o:p></sp=
an></p>
    <p><span style=3D'font-size:10.0pt;font-family:Verdana;mso-fareast-font=
-family:
    "Arial Unicode MS";mso-bidi-font-family:"Arial Unicode MS"'><a
    href=3D"http://www.amazon.com/exec/obidos/tg/detail/-/0029216052">Lan&c=
cedil;ado
    em 1994</a> (por isso o &#8220;finalmente&#8221;) o livro &eacute; uma =
excelente
    abordagem discursiva sobre como acontece na pr&aacute;tica a gest&atild=
e;o
    estrat&eacute;gica, previs&atilde;o, simula&ccedil;&atilde;o e planejam=
ento
    de longo prazo. Para isso, Mintzberg demonstra, de <span class=3DGramE>=
forma
    inteligente, que muitas cren&ccedil;as sobre planejamento, estrat&eacut=
e;gia
    e lideran&ccedil;a s&atilde;o simplesmente err&ocirc;neas</span>. <o:p>=
</o:p></span></p>
    <p><span style=3D'font-size:10.0pt;font-family:Verdana;mso-fareast-font=
-family:
    "Arial Unicode MS";mso-bidi-font-family:"Arial Unicode MS"'>Longe de ser
    apenas de interesse acad&ecirc;mico, a obra apresenta conclus&otilde;es=
 importantes
    como: <i>Qualquer previs&atilde;o (forecasting) raramente &eacute; acur=
ada por
    muito tempo; criar alinhamento r&iacute;gido na dire&ccedil;&atilde;o
    errada (baseado em planos) deixa uma empresa vulner&aacute;vel aos
    imprevistos do mercado; departamentos formais de planejamento podem ape=
nas facilitar
    jogos pol&iacute;ticos</i>.<o:p></o:p></span></p>
    <p><span style=3D'font-size:10.0pt;font-family:Verdana;mso-fareast-font=
-family:
    "Arial Unicode MS";mso-bidi-font-family:"Arial Unicode MS"'>Nas palavra=
s do
    consultor americano Alan Weiss: &#8220;Nas empresas onde se fala de <i>=
planejamento
    estrat&eacute;gico</i>, normalmente n&atilde;o existe nenhuma das duas
    coisas.&#8221; Planejamento Estrat&eacute;gico &eacute;, no nosso ponto=
 de
    vista, uma profunda contradi&ccedil;&atilde;o: enquanto o <span
    style=3D'mso-spacerun:yes'>&nbsp;</span>planejamento &eacute; um proces=
so que
    parte da atualidade para pr&eacute;-definir um futuro &#8220;melhorado&=
#8221;,
    a estrat&eacute;gia parte da vis&atilde;o &#8220;ideal&#8221; da pr&oac=
ute;pria
    organiza&ccedil;&atilde;o para ent&atilde;o deduzir conseq&uuml;&ecirc;=
ncias
    para a a&ccedil;&atilde;o. S&atilde;o duas disciplinas com finalidades =
totalmente
    distintas.<o:p></o:p></span></p>
    <p><span style=3D'font-size:10.0pt;font-family:Verdana;mso-fareast-font=
-family:
    "Arial Unicode MS";mso-bidi-font-family:"Arial Unicode MS"'>Resumindo: =
n&atilde;o
    deixe de conferir este livro, leitura essencial para n&oacute;s, gestor=
es.<o:p></o:p></span></p>
    <p><span style=3D'font-size:10.0pt;font-family:Verdana'>Veja nessa
    edi&ccedil;&atilde;o, a 2&ordf; parte da nossa entrevista sobre <b><a
    href=3D"http://www.metamanagementgroup.com/pdf/InterviewMai2004-2.pdf">=
o que
    voc&ecirc; sempre quis saber sobre Beyond Budgeting, mas nunca teve cor=
agem
    de perguntar</a>. </b><o:p></o:p></span></p>
    <p><b style=3D'mso-bidi-font-weight:normal'><span style=3D'font-size:10=
.0pt;
    font-family:Verdana'>A primeira parte</span></b><span style=3D'font-siz=
e:
    10.0pt;font-family:Verdana;mso-bidi-font-weight:bold'> desta entrevista=
, publicada
    no m&ecirc;s passado ainda pode ser lida <a
    href=3D"http://www.metamanagementgroup.com/pdf/InterviewMai2004-1.pdf">=
aqui</a>.</span><span
    style=3D'font-size:10.0pt;font-family:Verdana'> <o:p></o:p></span></p>
    <p><b><span style=3D'font-size:10.0pt;font-family:Verdana'>Na pr&oacute=
;xima
    edi&ccedil;&atilde;o, </span></b><span style=3D'font-size:10.0pt;font-f=
amily:
    Verdana'>voc&ecirc; ir&aacute; receber o nosso relato sobre <span
    class=3DGramE>a 2&ordf; confer&ecirc;ncia anual do BBRT, que acontece n=
os dias
    7-9 de junho, justamente na terra de Mintzberg, em Toronto, Canad&aacut=
e;</span>.<o:p></o:p></span></p>
    <p><span style=3D'font-size:10.0pt;font-family:Verdana'>Cordialmente,<b=
r>
    Niels Pflaeging<o:p></o:p></span></p>
    </td>
    <td width=3D"40%" valign=3Dtop style=3D'width:40.0%;background:white;pa=
dding:
    9.0pt 3.75pt 12.75pt 3.75pt;height:869.75pt'>
    <p><b><span style=3D'font-size:10.0pt;font-family:Verdana;color:#0000CC=
'>Leia
    as seguintes mat&eacute;rias e dicas</span></b><span style=3D'color:#00=
00CC'><o:p></o:p></span></p>
    <div align=3Dcenter>
    <table class=3DMsoNormalTable border=3D0 cellspacing=3D0 cellpadding=3D0
     style=3D'mso-cellspacing:0cm;mso-padding-alt:0cm 0cm 0cm 0cm'>
     <tr style=3D'mso-yfti-irow:0;page-break-inside:avoid'>
      <td width=3D264 style=3D'width:198.05pt;background:#6699FF;padding:0c=
m 0cm 0cm 0cm'>
      <p class=3DMsoNormal><b><span style=3D'font-size:10.0pt;font-family:V=
erdana;
      color:black'>Entrevista/FAQ, parte 2:<o:p></o:p></span></b></p>
      <p class=3DMsoNormal><b><span lang=3DFR style=3D'font-size:10.0pt;fon=
t-family:
      Verdana;color:black;mso-ansi-language:FR'><o:p>&nbsp;</o:p></span></b=
></p>
      </td>
      <td width=3D28 rowspan=3D2 valign=3Dtop style=3D'width:21.2pt;backgro=
und:#3366FF;
      padding:0cm 0cm 0cm 0cm'>
      <p class=3DMsoNormal><span lang=3DFR style=3D'font-family:"Arial Unic=
ode MS";
      color:black;mso-ansi-language:FR'><o:p>&nbsp;</o:p></span></p>
      </td>
     </tr>
     <tr style=3D'mso-yfti-irow:1;page-break-inside:avoid'>
      <td width=3D264 valign=3Dtop style=3D'width:198.05pt;padding:0cm 0cm =
0cm 0cm'>
      <p class=3DMsoNormal style=3D'margin-top:0cm;margin-right:0cm;margin-=
bottom:
      12.0pt;margin-left:.1pt'><b><span style=3D'font-size:10.0pt;font-fami=
ly:
      Verdana;color:black'>&#8220;A gest&atilde;o tradicional &eacute;
      extremamente desgastante, ineficiente e cara. Ela impede o reconhecim=
ento
      de oportunidades e riscos. <br>
      </span></b><span style=3D'font-size:10.0pt;font-family:Verdana;color:=
black'>Beyond
      Budgeting sempre ser&aacute; mais barato e muito mais simples do que =
os
      processos tradicionais.&#8221; <b><o:p></o:p></b></span></p>
      <p class=3DMsoNormal style=3D'margin-top:0cm;margin-right:0cm;margin-=
bottom:
      12.0pt;margin-left:.1pt'><b><span style=3D'font-size:8.0pt;font-famil=
y:
      Verdana;color:black'><a
      href=3D"http://www.metamanagementgroup.com/pdf/InterviewMai2004-2.pdf=
">Fa&ccedil;a
      o download desta entrevista aqui </a></span></b><b><span
      style=3D'font-size:10.0pt;font-family:Verdana;color:black'><o:p></o:p=
></span></b></p>
      </td>
     </tr>
     <tr style=3D'mso-yfti-irow:2;mso-yfti-lastrow:yes'>
      <td colspan=3D2 valign=3Dtop style=3D'padding:0cm 0cm 0cm 0cm'>
      <p class=3DMsoNormal><span style=3D'font-size:7.5pt;font-family:Verda=
na;
      color:#666633'>Descubra porque: <o:p></o:p></span></p>
      <p class=3DMsoNormal><span class=3DGramE><b><span style=3D'font-size:=
7.5pt;
      font-family:Verdana;color:#666633'>&#8220;Qualquer executivo deve se
      perguntar</span></b><span style=3D'font-size:7.5pt;font-family:Verdan=
a;
      color:#666633'> qual &eacute;, para a organiza&ccedil;&atilde;o, o re=
al
      custo gerado pelos n&uacute;meros or&ccedil;ament&aacute;rios e os
      indicadores exclusivamente</span></span><span style=3D'font-size:7.5p=
t;
      font-family:Verdana;color:#666633'><o:p></o:p></span></p>
      <p class=3DMsoNormal><span style=3D'font-size:7.5pt;font-family:Verda=
na;
      color:#666633'>financeiros - os quais s&atilde;o voltados apenas para=
 o
      pr&oacute;prio umbigo.<span class=3DGramE>&#8221;</span><o:p></o:p></=
span></p>
      <p class=3DMsoNormal><span class=3DGramE><b><span style=3D'font-size:=
7.5pt;
      font-family:Verdana;color:#666633'>&#8220;Resumindo: or&ccedil;amentos
      s&atilde;o t&atilde;o caros </span></b><span style=3D'font-size:7.5pt;
      font-family:Verdana;color:#666633'>que se</span></span><span
      style=3D'font-size:7.5pt;font-family:Verdana;color:#666633'><o:p></o:=
p></span></p>
      <p class=3DMsoNormal><span style=3D'font-size:7.5pt;font-family:Verda=
na;
      color:#666633'>tornaram proibitivos. Al&eacute;m disso, eles jamais
      oferecem um fundamento confi&aacute;vel para a medi&ccedil;&atilde;o =
do
      desempenho. Gestores sabem disso. Controllers tamb&eacute;m. Agora ch=
egou
      o momento de ser coerente.<span class=3DGramE>&#8221;</span><o:p></o:=
p></span></p>
      <p class=3DMsoNormal><b><span style=3D'font-size:7.5pt;font-family:Ve=
rdana;
      color:#666633'>&#8220;O que falta hoje em dia nas </span></b><span
      style=3D'font-size:7.5pt;font-family:Verdana;color:#666633'>organiza&=
ccedil;&otilde;es
      &eacute; uma coer&ecirc;ncia nos modelos de gest&atilde;o. &Eacute; a
      utiliza&ccedil;&atilde;o consistente do set de ferramentas existente.=
 Dar
      um passo para um paradigma fundamentalmente novo de gest&atilde;o
      &eacute; um desafio tamb&eacute;m para a maioria das empresas que
      j&aacute; usam o Balanced Scorecard.&#8221;<o:p></o:p></span></p>
      <p class=3DMsoNormal><span style=3D'font-size:7.5pt;font-family:Verda=
na;
      color:#666633'><a
      href=3D"http://www.metamanagementgroup.com/pdf/InterviewMai2004-2.pdf=
"><span
      style=3D'color:#666633'>Veja a entrevista completa aqui.</span></a></=
span><span
      style=3D'font-family:"Arial Unicode MS"'><o:p></o:p></span></p>
      </td>
     </tr>
    </table>
    </div>
    <p class=3DMsoNormal align=3Dcenter style=3D'text-align:center'><span
    style=3D'color:black'><o:p>&nbsp;</o:p></span></p>
    <div align=3Dcenter>
    <table class=3DMsoNormalTable border=3D0 cellspacing=3D0 cellpadding=3D=
0 width=3D293
     style=3D'width:219.6pt;mso-cellspacing:0cm;mso-padding-alt:0cm 0cm 0cm=
 0cm'>
     <tr style=3D'mso-yfti-irow:0;page-break-inside:avoid'>
      <td width=3D24 rowspan=3D2 valign=3Dtop style=3D'width:18.05pt;backgr=
ound:#0099CC;
      padding:0cm 0cm 0cm 0cm'>
      <p class=3DMsoNormal style=3D'background:#0099CC'><span style=3D'font=
-size:
      8.0pt;mso-bidi-font-size:12.0pt;font-family:Verdana;mso-bidi-font-fam=
ily:
      "Arial Unicode MS"'><o:p>&nbsp;</o:p></span></p>
      <p class=3DMsoNormal><span style=3D'font-size:8.0pt;mso-bidi-font-siz=
e:12.0pt;
      font-family:Verdana;mso-bidi-font-family:"Arial Unicode MS"'><o:p>&nb=
sp;</o:p></span></p>
      <p class=3DMsoNormal><span style=3D'font-size:8.0pt;mso-bidi-font-siz=
e:12.0pt;
      font-family:Verdana;mso-bidi-font-family:"Arial Unicode MS"'><o:p>&nb=
sp;</o:p></span></p>
      </td>
      <td width=3D269 colspan=3D3 style=3D'width:201.55pt;background:#66CCF=
F;
      padding:0cm 0cm 0cm 0cm'>
      <p class=3DMsoNormal style=3D'margin-left:2.85pt'><b><span lang=3DEN-=
US
      style=3D'font-size:10.0pt;font-family:Verdana;color:black;mso-ansi-la=
nguage:
      EN-US'>Beyond Budgeting <br>
      e Balanced Scorecard<o:p></o:p></span></b></p>
      </td>
     </tr>
     <tr style=3D'mso-yfti-irow:1;page-break-inside:avoid'>
      <td width=3D269 colspan=3D3 valign=3Dtop style=3D'width:201.55pt;padd=
ing:0cm 0cm 0cm 0cm'>
      <p class=3DMsoNormal style=3D'margin-top:0cm;margin-right:0cm;margin-=
bottom:
      12.0pt;margin-left:5.3pt'><b><span style=3D'font-size:10.0pt;font-fam=
ily:
      Verdana;color:black'>&#8220;Desafios do uso de Balanced Scorecard, na
      gest&atilde;o tradicional ou na gest&atilde;o <i>al&eacute;m do or&cc=
edil;amento</i>&#8221;<o:p></o:p></span></b></p>
      <p class=3DMsoNormal style=3D'margin-top:0cm;margin-right:0cm;margin-=
bottom:
      12.0pt;margin-left:5.3pt'><b><span style=3D'font-size:8.0pt;font-fami=
ly:
      Verdana;color:black'><a
      href=3D"http://www.metamanagementgroup.com/pdf/BB2004-05-20.pdf">Veja
      alguns dos slides apresentados no workshop no Rio, organizado pela
      Symnetics (20/05/2004)</a></span></b><b><span style=3D'font-size:10.0=
pt;
      font-family:Verdana;color:black'><o:p></o:p></span></b></p>
      </td>
     </tr>
     <tr style=3D'mso-yfti-irow:2'>
      <td width=3D293 colspan=3D4 valign=3Dtop style=3D'width:219.6pt;paddi=
ng:0cm 0cm 0cm 0cm'>
      <p class=3DMsoNormal><span style=3D'font-family:"Arial Unicode MS";
      color:black'><o:p>&nbsp;</o:p></span></p>
      </td>
     </tr>
     <tr style=3D'mso-yfti-irow:3;page-break-inside:avoid;mso-row-margin-ri=
ght:
      .35pt'>
      <td width=3D264 colspan=3D2 style=3D'width:198.05pt;background:#6699F=
F;
      padding:0cm 0cm 0cm 0cm'>
      <p class=3DMsoNormal><b><span style=3D'font-size:10.0pt;font-family:V=
erdana;
      color:black'>Pr&oacute;ximos eventos sobre <br>
      Beyond Budgeting</span></b><span style=3D'color:black'> </span><span
      style=3D'font-family:"Arial Unicode MS";color:black'><o:p></o:p></spa=
n></p>
      </td>
      <td width=3D28 rowspan=3D2 valign=3Dtop style=3D'width:21.2pt;backgro=
und:#3366FF;
      padding:0cm 0cm 0cm 0cm'>
      <p class=3DMsoNormal><span style=3D'font-family:"Arial Unicode MS";
      color:black'><o:p>&nbsp;</o:p></span></p>
      <p class=3DMsoNormal><span style=3D'font-family:"Arial Unicode MS"'><=
o:p>&nbsp;</o:p></span></p>
      <p class=3DMsoNormal><span style=3D'font-family:"Arial Unicode MS"'><=
o:p>&nbsp;</o:p></span></p>
      <p class=3DMsoNormal><span style=3D'font-family:"Arial Unicode MS"'><=
o:p>&nbsp;</o:p></span></p>
      </td>
      <td style=3D'mso-cell-special:placeholder;border:none;padding:0cm 0cm=
 0cm 0cm'
      width=3D0><p class=3D'MsoNormal'>&nbsp;</td>
     </tr>
     <tr style=3D'mso-yfti-irow:4;mso-yfti-lastrow:yes;page-break-inside:av=
oid;
      height:8.1pt;mso-row-margin-right:.35pt'>
      <td width=3D264 colspan=3D2 valign=3Dtop style=3D'width:198.05pt;padd=
ing:0cm 0cm 0cm 0cm;
      height:8.1pt'>
      <p class=3DMsoNormal style=3D'margin-bottom:12.0pt'><span style=3D'fo=
nt-size:
      10.0pt;font-family:Verdana;color:black'>- &quot;O fim do
      or&ccedil;amento&#8221; <br>
      </span><span style=3D'font-size:7.5pt;font-family:Verdana;color:#6666=
33'>Palestra
      introdut&oacute;ria com caf&eacute; da manh&atilde;, promovida pela
      Anefac. <br>
      <b>Dia 7 de julho 2004, 8h00, S&atilde;o Paulo.<br>
      </b>Caso queira participar deste evento e n&atilde;o seja membro da
      Anefac, por favor <a href=3D"mailto:mail@nielspflaeging.com"><span
      style=3D'color:#666633'>entre em contato</span></a><o:p></o:p></span>=
</p>
      <p class=3DMsoNormal style=3D'margin-bottom:12.0pt'><span style=3D'fo=
nt-size:
      10.0pt;font-family:Verdana;color:black'>- Workshop Especial de 4hs: <=
br>
      <span class=3DGramE>&#8220;</span>Better Budgeting&#8221; <br>
      </span><span style=3D'font-size:7.5pt;font-family:Verdana;color:#6666=
33'>Participa&ccedil;&atilde;o
      na 6a confer&ecirc;ncia anual &#8220;Planejamento
      Or&ccedil;ament&aacute;rio&#8221; do IBC. <br>
      <b>Dia 18 de agosto 2004, S&atilde;o Paulo.</b> Evento organizado pelo
      IBC. <a href=3D"mailto:financeirao@ibcbrasil.com.br"><span
      style=3D'color:#666633'>Inscri&ccedil;&atilde;o e agenda</span></a><o=
:p></o:p></span></p>
      </td>
      <td style=3D'mso-cell-special:placeholder;border:none;padding:0cm 0cm=
 0cm 0cm'
      width=3D0><p class=3D'MsoNormal'>&nbsp;</td>
     </tr>
     <![if !supportMisalignedColumns]>
     <tr height=3D0>
      <td width=3D24 style=3D'border:none'></td>
      <td width=3D240 style=3D'border:none'></td>
      <td width=3D28 style=3D'border:none'></td>
      <td width=3D0 style=3D'border:none'></td>
     </tr>
     <![endif]>
    </table>
    </div>
    <p class=3DMsoNormal align=3Dcenter style=3D'text-align:center'><span
    style=3D'color:black'><o:p>&nbsp;</o:p></span></p>
    <div align=3Dcenter>
    <table class=3DMsoNormalTable border=3D0 cellspacing=3D0 cellpadding=3D=
0 width=3D293
     style=3D'width:219.6pt;mso-cellspacing:0cm;mso-padding-alt:0cm 0cm 0cm=
 0cm'>
     <tr style=3D'mso-yfti-irow:0;page-break-inside:avoid'>
      <td width=3D24 rowspan=3D2 valign=3Dtop style=3D'width:18.1pt;backgro=
und:#0099CC;
      padding:0cm 0cm 0cm 0cm'>
      <p class=3DMsoNormal><span style=3D'font-size:8.0pt;mso-bidi-font-siz=
e:12.0pt;
      font-family:Verdana;mso-fareast-font-family:"Arial Unicode MS";
      mso-bidi-font-family:"Arial Unicode MS"'><o:p>&nbsp;</o:p></span></p>
      </td>
      <td width=3D269 style=3D'width:201.5pt;background:#66CCFF;padding:0cm=
 0cm 0cm 0cm'>
      <p class=3DMsoNormal style=3D'margin-left:2.85pt'><b><span style=3D'f=
ont-size:
      10.0pt;font-family:Verdana;color:black'>Ant&iacute;doto para o
      convencional &#8211; pensando &#8220;al&eacute;m&#8221;</span></b><sp=
an
      style=3D'font-family:"Arial Unicode MS";color:black'><o:p></o:p></spa=
n></p>
      </td>
     </tr>
     <tr style=3D'mso-yfti-irow:1;mso-yfti-lastrow:yes;page-break-inside:av=
oid;
      height:178.0pt'>
      <td width=3D269 valign=3Dtop style=3D'width:201.5pt;padding:0cm 0cm 0=
cm 0cm;
      height:178.0pt'>
      <p class=3DMsoNormal style=3D'margin-top:0cm;margin-right:0cm;margin-=
bottom:
      12.0pt;margin-left:5.3pt'><span lang=3DEN-US style=3D'font-size:10.0p=
t;
      font-family:Verdana;mso-fareast-font-family:"Arial Unicode MS";
      mso-bidi-font-family:"Arial Unicode MS";color:black;mso-ansi-language:
      EN-US'>- Abolishing Performance Appraisals. Why they backfire and wha=
t to
      do instead. </span><span style=3D'font-size:10.0pt;font-family:Verdan=
a;
      mso-fareast-font-family:"Arial Unicode MS";mso-bidi-font-family:"Aria=
l Unicode MS";
      color:black'>Por Tom Coens e Mary <span class=3DSpellE>Jenkins</span>=
. </span><span
      style=3D'font-size:7.5pt;font-family:Verdana;mso-fareast-font-family:=
"Arial Unicode MS";
      mso-bidi-font-family:"Arial Unicode MS";color:#666633'>Este importante
      livro descreve um novo paradigma da gest&atilde;o de recursos humanos
      &#8211; que vai al&eacute;m do paternalismo e da gest&atilde;o &#8220=
;<span
      class=3DSpellE>taylorista</span>&#8221;. Pessoas devem ser tratadas c=
omo
      adultos. Deixe de monitorar, avaliar, julgar, controlar - tente <i>li=
derar!
      </i>Os autores aplicam o pensamento do Beyond Budgeting &agrave;s
      avalia&ccedil;&otilde;es de desempenho &#8211; o resultado &eacute; u=
ma
      verdadeira aula em gest&atilde;o de pessoas. O livro &eacute;
      incrivelmente rico em detalhes sobre problemas de gest&atilde;o de
      colaboradores, argumenta&ccedil;&atilde;o e como fazer melhor. <a
      href=3D"http://www.amazon.com/exec/obidos/tg/detail/-/1576750760"><sp=
an
      class=3DSpellE><span style=3D'color:#666633'>Berrett-Koehler</span></=
span><span
      style=3D'color:#666633'> <span class=3DSpellE>Publishers</span>, 2000=
</span></a><o:p></o:p></span></p>
      <p class=3DMsoNormal style=3D'margin-top:0cm;margin-right:0cm;margin-=
bottom:
      12.0pt;margin-left:5.3pt'><span style=3D'font-size:10.0pt;font-family=
:Verdana;
      mso-fareast-font-family:"Arial Unicode MS";mso-bidi-font-family:"Aria=
l Unicode MS";
      color:black'>- Lista com recomenda&ccedil;&otilde;es sobre <span
      style=3D'mso-spacerun:yes'>&nbsp;</span>livros relacionados com Beyond
      Budgeting, em ingl&ecirc;s. </span><span style=3D'font-size:7.5pt;
      font-family:Verdana;mso-fareast-font-family:"Arial Unicode MS";
      mso-bidi-font-family:"Arial Unicode MS";color:#666633;mso-bidi-font-s=
tyle:
      italic'>Esta &eacute; uma lista dos livros de l&iacute;ngua inglesa
      j&aacute; recomendados nesta coluna, na Amazon.com. Voc&ecirc; pode
      comprar os livros ou saber mais sobre cada um deles. <a
      href=3D"http://www.amazon.com/exec/obidos/tg/listmania/list-browse/-/=
2XY3BUVJJBKYB"><span
      style=3D'color:#666633'>Acesse esta lista aqui!</span></a></span><span
      style=3D'font-size:7.5pt;font-family:Verdana;mso-fareast-font-family:=
"Arial Unicode MS";
      mso-bidi-font-family:"Arial Unicode MS";color:#666633'><o:p></o:p></s=
pan></p>
      </td>
     </tr>
    </table>
    </div>
    <p><o:p></o:p></p>
    </td>
   </tr>
   <tr style=3D'mso-yfti-irow:1;page-break-inside:avoid;height:1.0pt'>
    <td style=3D'background:white;padding:12.75pt 12.75pt 12.75pt 12.75pt;
    height:1.0pt'>
    <p class=3DMsoNormal><span style=3D'mso-fareast-font-family:"Arial Unic=
ode MS"'><o:p>&nbsp;</o:p></span></p>
    </td>
   </tr>
   <tr style=3D'mso-yfti-irow:2'>
    <td colspan=3D2 style=3D'background:white;padding:12.75pt 12.75pt 12.75=
pt 12.75pt'>
    <p><b><span style=3D'font-size:10.0pt;font-family:Verdana;color:#CC0000=
'>Tamb&eacute;m
    nos <span class=3DSpellE>sites</span> <a
    href=3D"http://www.metamanagementgroup.com/"><span style=3D'color:#CC00=
00'>www.metamanagementgroup.com</span></a>
    e <a href=3D"http://www.bbrt.org/"><span style=3D'color:#CC0000'>www.bb=
rt.org</span></a>:
    </span></b><span style=3D'color:#CC0000'><o:p></o:p></span></p>
    <table class=3DMsoNormalTable border=3D0 cellspacing=3D0 cellpadding=3D0
     width=3D"100%" style=3D'width:100.0%;mso-cellspacing:0cm;mso-padding-a=
lt:9.0pt 9.0pt 9.0pt 9.0pt'>
     <tr style=3D'mso-yfti-irow:0;mso-yfti-lastrow:yes'>
      <td width=3D"33%" valign=3Dtop style=3D'width:33.0%;background:#DDDDD=
D;
      padding:9.0pt 9.0pt 9.0pt 9.0pt'>
      <p><span class=3DGramE><b><span style=3D'font-size:10.0pt;font-family=
:Verdana'>Slides
      de Palestras e mat&eacute;rias &#8211; </span></b><span style=3D'font=
-size:
      8.0pt;font-family:Verdana'>Confira</span></span><span style=3D'font-s=
ize:
      8.0pt;font-family:Verdana'> o nosso arquivo de slides de palestras e
      apresenta&ccedil;&otilde;es dos &uacute;ltimos meses, como os da
      palestra: &quot;Beyond Budgeting &#8211; como gerenciar melhor sem
      or&ccedil;amentos&#8221;.<br>
      As apresenta&ccedil;&otilde;es podem ser acessadas <a
      href=3D"http://www.metamanagementgroup.com/eventos.asp">aqui</a>.<br>
      <br>
      Confira tamb&eacute;m o nosso calend&aacute;rio atualizado de <a
      href=3D"http://www.metamanagementgroup.com/eventos.asp">eventos e pal=
estras
      sobre Beyond Budgeting</a> e a gest&atilde;o adaptativa de desempenho=
<o:p></o:p></span></p>
      </td>
      <td width=3D"34%" valign=3Dtop style=3D'width:34.0%;background:#EEEEE=
E;
      padding:9.0pt 9.0pt 9.0pt 9.0pt'>
      <p><b><span style=3D'font-size:10.0pt;font-family:Verdana'>O que &eac=
ute;
      Beyond Budgeting? -</span></b><span style=3D'font-size:10.0pt;font-fa=
mily:
      Verdana'> </span><span style=3D'font-size:8.0pt;font-family:Verdana'>=
Confira
      uma breve apresenta&ccedil;&atilde;o do conceito Beyond Budgeting. De
      maneira bem sucinta, s&atilde;o respondidas perguntas como: &quot;O q=
ue
      &eacute; o Beyond Budgeting&quot;, &quot;O que &eacute; o Beyond
      Budgeting Round Table (BBRT)&quot; etc. <a
      href=3D"http://www.metamanagementgroup.com/infobeyondbudgeting.asp">A=
qui!</a><br>
      <br>
      Tamb&eacute;m &eacute; dispon&iacute;vel um press release que al&eacu=
te;m
      de divulgar o conceito para a imprensa e interessados em geral, prete=
nde
      acelerar o processo de funda&ccedil;&atilde;o da Mesa Redonda para o
      Brasil. Acesse o arquivo <a
      href=3D"http://www.metamanagementgroup.com/pdf/pressrelease.pdf">aqui=
.</a><o:p></o:p></span></p>
      </td>
      <td width=3D"33%" valign=3Dtop style=3D'width:33.0%;background:#DDDDD=
D;
      padding:9.0pt 9.0pt 9.0pt 9.0pt'>
      <p><b><span style=3D'font-size:10.0pt;font-family:Verdana'>Diagn&oacu=
te;stico
      do BBRT</span></b><span style=3D'font-size:10.0pt;font-family:Verdana=
'><br>
      </span><span style=3D'font-size:8.0pt;font-family:Verdana'>O BBRT Eur=
opa
      opera um sistema de &#8220;diagn&oacute;stico on-line&#8221;, que aju=
da
      as organiza&ccedil;&otilde;es <span class=3DGramE>a</span> &#8220;med=
ir a
      si mesmo&#8221;, em compara&ccedil;&atilde;o com os princ&iacute;pios=
 de
      gest&atilde;o do modelo Beyond Budgeting. Esta &eacute; uma maneira
      r&aacute;pida e simples para ganhar uma primeira id&eacute;ia (A) dos
      pontos fortes e fracos do atual modelo de gest&atilde;o da sua
      organiza&ccedil;&atilde;o e (B) do grau de mudan&ccedil;a necess&aacu=
te;rio.
      Este diagn&oacute;stico pode ser acessado sem custo <a
      href=3D"http://www.beyondbudgeting.org/">aqui</a>.</span><span
      style=3D'font-size:10.0pt;font-family:Verdana'> </span><span
      style=3D'font-size:10.0pt;mso-bidi-font-size:12.0pt'><o:p></o:p></spa=
n></p>
      </td>
     </tr>
    </table>
    <p class=3DMsoNormal><span style=3D'font-family:"Arial Unicode MS";colo=
r:black'><o:p></o:p></span></p>
    </td>
   </tr>
   <tr style=3D'mso-yfti-irow:3;height:95.45pt'>
    <td colspan=3D2 style=3D'background:white;padding:12.75pt 12.75pt 12.75=
pt 12.75pt;
    height:95.45pt'>
    <p><b><span style=3D'font-size:10.0pt;font-family:Verdana;color:#CC0000=
'>Servi&ccedil;o</span></b><span
    style=3D'font-size:10.0pt'><br>
    </span><span style=3D'font-size:8.0pt;font-family:Verdana'>Este e-mail
    est&aacute; sendo enviado para voc&ecirc; por que (1) voc&ecirc; requis=
itou
    o recebimento da newsletter ou (2) voc&ecirc; foi adicionado &agrave; l=
ista
    de email por ter mostrado interesse neste servi&ccedil;o. Se voc&ecirc;
    prefere deixar de receber esta newsletter, por favor, responda este e-m=
ail.
    <br>
    Vai mudar de email?: Por favor nos mantenha atualizado sobre <a
    href=3D"mailto:mail@nielspflaeging.com">altera&ccedil;&otilde;es de
    endere&ccedil;o</a>!</span><span style=3D'font-size:10.0pt'><o:p></o:p>=
</span></p>
    <p><span style=3D'font-size:8.0pt;font-family:Verdana'>Perguntas?
    Coment&aacute;rios? &Eacute; s&oacute; responder esta newsletter para
    entrar em contato com Niels Pflaeging.</span><span style=3D'font-size:1=
0.0pt'><o:p></o:p></span></p>
    </td>
   </tr>
   <tr style=3D'mso-yfti-irow:4;mso-yfti-lastrow:yes'>
    <td colspan=3D3 style=3D'background:white;padding:9.0pt 12.75pt 9.0pt 1=
2.75pt'>
    <p align=3Dcenter style=3D'text-align:center'><span lang=3DEN-US
    style=3D'font-size:7.5pt;font-family:Verdana;mso-ansi-language:EN-US'>A=
cesse <a
    href=3D"http://www.metamanagementgroup.com/">http://www.metamanagementg=
roup.com/</a>
    </span><span lang=3DEN-US style=3D'mso-ansi-language:EN-US'><br>
    </span><span lang=3DEN-US style=3D'font-size:7.5pt;font-family:Verdana;
    color:windowtext;mso-ansi-language:EN-US'>&copy; Copyright 2004 Niels
    Pflaeging</span><span lang=3DEN-US style=3D'mso-ansi-language:EN-US'><o:=
p></o:p></span></p>
    </td>
   </tr>
  </table>
  <p class=3DMsoNormal><span lang=3DEN-US style=3D'font-family:"Arial Unico=
de MS";
  color:black;mso-ansi-language:EN-US'><o:p></o:p></span></p>
  </td>
 </tr>
</table>

<p class=3DMsoNormal><span lang=3DEN-US style=3D'mso-ansi-language:EN-US'><=
o:p>&nbsp;</o:p></span></p>

</div>

</body>

</html>

------=_NextPart_01C44904.84C44A90
Content-Location: file:///C:/D17BA278/bbb-newsletter8_arquivos/editdata.mso
Content-Transfer-Encoding: base64
Content-Type: application/x-mso

QWN0aXZlTWltZQAAAfAEAAAA/////xABDPCcAAAAGvAGAAAAAADAAAAAAAAARggAAADggOlaAAAA
AOCA6VoAAAAAAAAAAAAAAADggOla4IDpWgAAAAAAAAAAAAAAAAAAAAAAAAAAAAABAAAADwBiAGIA
YgAtAG4AZQB3AHMAbABlAHQAdABlAHIANwAAACMBytwBAAAAAAAAACMBytwBAAAAAAAAACMBytwB
AAAAAAAAAAAAAAAAAAAAAAAL8AQAAAASNFZ4

------=_NextPart_01C44904.84C44A90
Content-Location: file:///C:/D17BA278/bbb-newsletter8_arquivos/filelist.xml
Content-Transfer-Encoding: quoted-printable
Content-Type: text/xml; charset="utf-8"

<xml xmlns:o=3D"urn:schemas-microsoft-com:office:office">
 <o:MainFile HRef=3D"../bbb-newsletter8.htm"/>
 <o:File HRef=3D"editdata.mso"/>
 <o:File HRef=3D"filelist.xml"/>
</xml>
------=_NextPart_01C44904.84C44A90--
