Only Nike's innovative Air athletic shoes provided a bright spot in the company's otherwise erratic progress, allowing the company to regain market share from rival Reebok International Ltd. in several areas, including basketball and cross-training. Jordan continues to make roughly $100 million a year in Nike royalties alone. nike's corporate mission statement: to be the world's leading sports and. For example, the companys corporate vision statement is concise, clear, inspiring, and challenging in focusing on maintaining brand leadership. Knight was convinced that Japanese running shoes could become significant competitors for the German products that then dominated the American market. Nike mission statement. Nike is a brand. 2014 March 13, 2014 - Nike Free hit the ground 10 years ago but its natural motion ethos goes all the way back to Bill Bowerman and the Nike Cortez. Suranga, J. M. (2017, March). (2017). Seeking to recapture the growth of the early to mid-1990s, Nike pursued a number of new initiatives in the late 1990s. Through the evolution and effective implementation of its corporate vision and mission statements, the company supports its market position as a leading producer of sports footwear, apparel, and equipment. Hina Brohi, Rizwan Raheem Ahmed, Arslan Hussain Bhutto, Rabel khubchandani. As pointed out by Greenpeace, this affects everything from factory workers to waterways to consumers. Company Mission Statement Examples. Nike also began a more controversial venture into the arena of sports agents, negotiating contracts for basketball's Scottie Pippin, Alonzo Mourning, and others in addition to retaining athletes such as Michael Jordan and Charles Barkley as company spokespersons. Because Nike already held a part of the low-priced athletic shoe market, the company set its sights on the high-priced end of the scale in Japan. Find out how Nike's corporate statements effectively led the company to become one of the top global brands today. Barbara Farfan is a retail industry expert with more than 20 years as a business consultant for the retail and publishing industries. 2003 - Nike signs Lebron James and Kobe Bryant. Either way, the two formally split in 1971 with a lawsuit from Tiger following. This decline was a result of aggressive price discounting on Nike products and the increased costs associated with the company's push into foreign markets and attempts to build up its sales of apparel. Salehi-Kordabadi, S., Karimi, S., & Qorbani-Azar, M. (2020). A company founded in 1949, the Adidas Group embodies its stated mission of boosting and elevating the status of its brand by tapping high-profile athletes like Patrick Mahomes and musicians like Kanye West to representing its core brand. Board power hierarchy, corporate mission, and green performance. To browse Academia.edu and the wider internet faster and more securely, please take a few seconds toupgrade your browser. For more information about this processing of personal data, check our. While the mission does broadly identify the business we are in, namely the sports and . The company began eyeing overseas markets and predicted ample room to grow in Europe. *If you have a body, you are an athlete. Cookies collect information about your preferences and your devices and are used to make the site work as you expect it to, to understand how you interact with the site, and to show advertisements that are targeted to your interests. By mid-1986 Nike was reporting that its earnings had begun to increase again, with sales topping $1 billion for the first time. Take note of the words that declare Nike's underlying company values: Innovation, sustainability, diversity, and community. Be a . The Adidas strategies focus on the broad differentiation, innovation, trying to produce new products, services and processes in order to cope up with the competition. While these claims have been met with dubiousness over the past couple years, in 2018, Nike showed some serious signs of growth, expanding its PFC-free portfolio to 93% of products. Since then, the companyhas only continued to grow, helped on in part by a series of clever ad campaigns, most famously the 1988 "Just Do It" ad campaign (apparently inspired by the last words of American murderer Gary Gilmore before the firing squad, "Let's do it."). The athletic goods company considers its brand as one of the major strengths of the business, and points out that it has already achieved the top brand position. Nike opened its first retail outlet in Portland, Oregon in 1990. However, it's Nike's vision statement that has captured the hearts of millions. Nike is a globally operating company, with its business operations spread out in 170 countries. 1998 - In the face of widespread protest, Nike raises the minimum age of its workers, increases monitoring, and adopts U.S. OSHA clean-air standards in overseas factories. Despite some recent declines in sales, the brand still nets the company a staggering $2.8 billion in sales for 2018. Canstar was renamed Bauer Nike Hockey Inc., Bauer being Canstar's brand name for its equipment. Subsequently, they use those strategies as a baseline to compare their actual performance with planned ones, to evaluate the end results and ensuring the continuing organizational excellence. The mission statement of Nike is to bring inspiration and innovations for every kind of athlete in this world. Its operations in Japan were almost immediately profitable, and the company quickly jumped to second place in the Japanese market, but in Europe, Nike fared less well, losing money on its five European subsidiaries. You can download the paper by clicking the button above. The definition of strategy could be differ from one author to another, but the most common definition is that the strategy is long term plans and approaches towards the intended visions and objectives. This means that Nike wants to be the most popular and sought-after brand by consumers when it comes to sportswear and gear. Nike Inc. has been the powerhouse of the sporting goods and apparel industry for years. Following the split with Tiger, Blue Ribbon Sports fully rebranded itself as Nike. Conclusion: Nike's Future Plans with their Business Vision and Mission. In November of 1990, Portland became the first home to a new retail-as-theatre experience called . At University of Oregon, he ran for the school's track and field team, putting him into contact with their coach, Bill Bowerman. Founded on January 25, 1964, Nike is an American-owned company based in Beaverton, Oregon. But for the purpose of more effectively recalling the key points of these statements, a mind map is highly recommended. This followed the 'Cities Campaign,' which used billboards and murals in nine American cities to publicize Nike products in the period before the 1984 Olympics. " The company further states that everybody is an athlete, based on Nike founder Bill Bowerman's statement, "If you have a body, you are an athlete." Mission statement effectiveness: Investigating managers sensemaking role. The company was founded on a principle of finding cheaper labor to produce same-quality goods and followed this unfailingly, till it finally came back to bite them. Bowerman had long been experimenting with modified running shoes for his team, and he worked with runners to improve the designs of prototype Blue Ribbon Sports (BRS) shoes. (PUMSY) that dominated the market. In some cases these cookies improve the speed with which we can process your request, allow us to remember site preferences youve selected. In addition, operations were expanded to Canada, the company's first foreign market, which would be followed by Australia, in 1974. I aim to achieve all my goals and reach all the standards I have set for myself, whether it be academic, sport or cultural wise. Nike Inc. will buy back $8 billion of Nike's class B stock in 4 years after the current $5 billion buyback program is completed in second quarter of fiscal 2013. The primary environmental criticism following Nike has been its refusal to eliminate hazardous materials from its supply chain. BRS revenues tripled in two years to $14 million in 1976, and then doubled in just one year to $28 million in 1977. The statement includes such information as the companys customers (everybody), the target market (global), and part of the philosophy of the sporting goods business. Copyright (c) 2022 Company-Histories.com. The way an organization used to shape its strategies could be differentiate from other organizations in order to make its products unique and remarkable. Update your location? The consumer decides. As noted, the company considers every person an athlete. In some cases, these cookies involve the processing of your personal data. Nike's Mission Statement "Bring Inspiration and Innovation to every athlete in the world." Now let's look at what it means. Nike also has a mission statement which says "Bring inspiration and innovation to every athlete* in the world.". Nike has several programs that support different sectors of society, making the company very relatable and keeping Nike positively connected to the market. Each statement offers insight into the defined goals and priorities of the individual companies. The company also has a very efficient marketing strategy of using well-known role models in the sports community to empower the ordinary person, particularly the youth, inspiring them to go into sports and break outside their personal boundaries. Nike went through all of this: After 20 years Nike indeed did crush Adidas. The company was well insulated from the effects of a stagnating demand for running shoes, however, since it gained a substantial share of its sales from other types of athletic shoes, notably basketball shoes and tennis shoes. These principles are meant to give a sense of direction and purpose to employees at all levels of the corporation: It is our nature to innovate. Nike The following year, the company rented its first retail space, next to a beauty salon in Santa Monica, California, so that its few employees could stop selling shoes out of their cars. The company acquired Tetra Plastics Inc., producers of plastic film for shoe soles. Sales of Nike women's apparel lines Fitness Essentials, Elite Aerobics, Physical Elements, and All Condition Gear increased by 25 percent in both 1990 and 1991 and jumped by 68 percent in 1992. Not content with its leading position in athletic shoes and its growing sales of athletic apparel--which accounted for more than 30 percent of revenues in 1996--Nike branched out into sports equipment in the mid-1990s. For more information about this processing of personal data, check our. 1987 - Nike drops ad for new Air Max shoes set to The Beatles' "Revolution," making it the first ad to use the band's music. With protests around college campuses, calls for boycotting the company, and pressure put on its stars like Michael Jordan to denounce the brand, Nike made a concerted effort in 1998 to improve the labor conditions of its factories. 1990 - First Niketown store opens in Portland, Oregon. These cookies allow us to improve the sites functionality by tracking usage on this website. Nike's mission statement basically leads on to inspiring people to adopt the mindset of a winner and . In a move that would prove to be the key to the company's recovery, in 1985 the company signed basketball player Michael Jordan to endorse a new version of its Air shoe, introduced four years earlier. As consumers, we often take for granted all the hard work that goes into building a great company. Each member of the company is equally valuable, and individual contributions are always appreciated as everyone works together to achieve a common goal. In 1971 using financing from the Japanese trading company Nissho Iwai Corporation, BRS was able to manufacture its own line of products overseas, through independent contractors, for import to the United States. Fittingly, the ad overlay of the black-and-white photo of Kaepernick's face with the text, "Believe in something. They help make the shopping cart and checkout process possible as well as assist in security issues and conforming to regulations. The company currently has 1000+ retail stores around the world, including 380+ stores in the US., The massive success of Nike is in large part due to the company's very well-crafted mission and vision statements, which they have consistently and effectively applied in all the different aspects of the business. At the 1976 Olympic Trials these efforts began to pay off as Nike shoes were worn by rising athletic stars. View Privacy & Cookie Policy for full details. (2021). Harley-Davidsons Operations Management: 10 Decisions, Productivity, Nikes Generic Strategies & Intensive Growth Strategies, Nike Inc. The Nike mission statement is to bring inspiration and innovation to every athlete in the world.. In the course of setting up his agreement with Onitsuka Tiger, Knight invented Blue Ribbon Sports to satisfy his Japanese partner's expectations that he represented an actual company, and this hypothetical firm eventually grew to become Nike, Inc. At the end of 1963, Knight's arrangements in Japan came to fruition when he took delivery of 200 pairs of Tiger athletic shoes, which he stored in his father's basement and peddled at various track meets in the area. Interface between corporate vision, mission and production and operations management. Advertising cookies (from third parties) collect information to help better tailor advertising to your interests, both within and beyond Nike websites. To get more information about these cookies and the processing of your personal data, check our Privacy & Cookie Policy. Explore our huge selection of public mind map examples and templates, created by EdrawMind users all over the world. 49ers management consequently did not renew Kaepernick's contract and no other NFL team signed him. But nevertheless, the idea had taken root, and with the help of another waffle iron and presumably a good spray, he designed his ideal sole and the iconic "Waffle Trainer" was born. (2016). Nike's operating model is focused on a process that includes design, manufacturing and sale. 1999 - Nike co-founder Bill Bowerman dies at 88. Even though Zappos is a company that helped define the Internet shoe shopping experience, the Zappos mission statement designed by founder Tony Hsieh is not about its products and all about the purchasers of the products. Nike nonetheless remained under pressure from activists into the 21st century. Dong, F., Xie, Y., & Cao, L. (2019). Thus, based on this corporate mission, Nikes products are designed to attract and satisfy a wide variety of market segments globally. This article may not be reproduced, distributed, or mirrored without written permission from Panmore Institute and its author/s. On Labor Day of 2018, Nike made a huge splash, tweeting a photo of NFL player Colin Kaepernick as the new face of its brand. Knight got the chance to put this theory to the test with a trip to Japan shortly after his 1962 graduation. This came at the same time the company sought to expand its Niketown retail stores, resulting in mass protests around the planned expansions. The ad garnered a predictable mix of support and controversy. The statement is also future-oriented, considering that Nike Inc. highlights keeping its brands leading position as a strategic aim for future business development. Enter the email address you signed up with and we'll email you a reset link. But the brand of Lebron James, Tiger Woods, and Michael Jordan didn't come from nowhere. Cochran, D. S., David, F. R., & Gibson, C. K. (2008). These strategies coupled with its resources and unique capabilities form the basis of sustainable competitive advantage for both the companies. A comparative analysis of strategies and business models of Nike, Inc. and Adidas Group with special reference to competitive advantage in the context of a dynamic and competitive environment. B., Cheok, J., Grigoriou, N., & Opute, J. Towards the final frontier: Using strategic communication activities to engage the latent public as a key stakeholder in a corporate mission. The company had shifted its overseas production away from Japan at this point, manufacturing nearly four-fifths of its shoes in South Korea and Taiwan. 12 structures & 33 themes & 700+ You can also create a mind map with EdrawMind, such as the one below. Do you accept these cookies and the processing of personal data involved? Academia.edu no longer supports Internet Explorer. 1979 - Nike introduces patented "Air" technology with new Tailwind shoe. In the fiscal year ending May 31, 1991, Nike sales surpassed the $3 billion mark, fueled by record sales of 41 million pairs of Nike Air shoes and a booming international market. This undercurrent of hostility burst into the spotlight in late 1999 when some of the more aggressive protesters against a World Trade Organization meeting in Seattle attempted to storm a NikeTown outlet. In response, Nike adopted a series of measures to change its sliding course. I aim to be more involved with those around me. 1989 - "Bo Knows" ad campaign drops featuring baseball and football star Bo Jackson. 821 Words4 Pages. The mission statement of Nike also highlights the importance of diversity in the workforce. You can always change your preference by visiting 'Cookie Settings' at the bottom of the page. Porters Five Forces analysis of Nike Inc. Nike Inc.s generic competitive strategy and intensive growth strategies, Nike Inc.s corporate social responsibility strategy and stakeholder management approaches, U.S. Department of Commerce International Trade Administration Consumer Goods Industry. The company applies these corporate statements as guides for the evolution of its business, leading to the creation of business strengths like a strong brand image, as determined in the SWOT analysis of Nike Inc. Nike's initial reaction--which was highlighted by Knight's insistence that the company had little control over its suppliers--resulted in waves of negative publicity. Nearly all of the items are manufactured by independent contractors, primarily located overseas, with Nike involved in the design, development, and marketing. To get more information about these cookies and the processing of your personal data, check our, You can always change your preference by visiting the "Cookie Settings" at the bottom of the page. You see them from the coldest places of Finland to the hottest deserts of the Arabian Peninsula. The company's other greatest asset has been its celebrity endorsements. NIKE - . View, edit, and download this template in EdrawMind >>, A company's mission statement represents its short-term goals and draws attention to what it intends to deliver in order to achieve these goals. The company was restructured further at the end of 1985 when its last two U.S. factories were closed and its previous divisions of apparel and athletic shoes were rearranged by sport. Its primarily Nikes mission and vision statements. Critics contended that Nike's influence ran too deep, having its hand in negotiating everything in an athlete's life from investments to the choice of an apartment. Abiodun, A. J. Toh, S. Y., Tehseen, S., Mahmoud, A. Nike's U.S. rival Reebok, however, also saw potential for growth in Europe, and by 1992 European MTV was glutted with athletic shoe advertisements as the battle for the youth market heated up between Nike, Reebok, and their European competitors, Adidas and Puma. Bowerman's efforts first paid off in 1968, when a shoe known as the Cortez, which he had designed, became a big seller. Scott, J. Unfortunately, he forgot to add any anti-stick agent onto the iron and it glued shut. A clear example of this is when Nike readily took on the challenge of enabling a human to run a marathon in under 2 hours, a feat that has never been accomplished before. In the mission statement, Nike clearly indicates its unwavering support for athletes. This component is applied through the organizations strategy of continuous improvement of products through new technologies, as included in Nike Inc.s generic competitive strategy and intensive growth strategies. Regardless of these looming threats, Nike has weathered 2019 relatively unscathed, even landing among thetop 15 analyst picks among the Dow. 36. Nike's mission statement resembles a vision statement and is therefore a weakness. Nikes mission statement outlines the general strategic direction of the business. . Phil Knight reluctantly settled on a swoosh design, reportedly saying, "Well, I don't love it, but maybe it will grow on me." In 1990 the company sued two competitors for copying the patented designs of its shoes and found itself engaged in a dispute with the U.S. Customs Service over import duties on its Air Jordan basketball shoes. The company also maintains distinctive quality by delivering the best possible products to the sporting goods market. Just like a team in any sport, Nike believes in the spirit of unity and community. Nike's vision is to be the best sports company in the world, connecting with our consumers through product, content, and experiences. While reports of abuse at the Nike factories still persist, many human rights activists have acknowledged Nike's efforts to have minimized the worst problems at these factories, and the public outcry today over the company's labor conditions is a shadow of what it once was. A company's vision statement indicates how the founders foresee the company to be in the distant future. Part of Nike's success is owed to endorsements by such athletes as Michael Jordan, Mia Hamm, Roger Federer, and Tiger Woods. Back home, Nike's share of the U.S. athletic shoe market neared 50 percent. 1964 - Phil Knight and Bill Bowerman found Blue Ribbon Sports. That year, the company opened NikeTown, a prototype store selling the full range of Nike products, in Portland, Oregon. Principal Competitors: adidas-Salomon AG; Callaway Golf Company; Converse Inc.; Deckers Outdoor Corporation; Fila Holding S.p.A.; Fortune Brands, Inc.; Fruit of the Loom, Ltd.; FUBU; HI-TEC Sports USA Inc.; Levi Strauss & Co.; Nautica Enterprises, Inc.; New Balance Athletic Shoe, Inc.; Polo Ralph Lauren Corporation; Puma AG; R. Griggs Group Limited; Rawlings Sporting Goods Company, Inc.; Reebok International Ltd.; Rollerblade, Inc.; Russell Corporation; Sara Lee Corporation; Skechers U.S.A., Inc.; Spalding Holdings Corporation; The Stride Rite Corporation; The Timberland Company; Timex Corporation; Tommy Hilfiger Corporation; VF Corporation; Wolverine World Wide, Inc. Traveling in Japan after finishing up business school, Knight got in touch with a Japanese firm that made athletic shoes, the Onitsuka Tiger Co., and arranged to import some of its products to the United States on a small scale. Nikes vision statement is about keeping brand leadership in the global industry. To get more information about these cookies and the processing of your personal data, check our Privacy & Cookie Policy. They help to make the bag and checkout process possible as well as assisting in security issues and conforming to regulations. Finally, we can read about how these great companies came about with Company Histories.. In this company analysis case, you will come to know how Nikes mission and vision statements focus on brand strength and development. The user has requested enhancement of the downloaded file. Therefore, those strategies then to be implemented by converting the organization's plans and policies into real actions through the best use of available resources such as: human resources, budgets and technological advance; in order to enhance the organization's performance, productivity and sustainability. In addition to its wide range of core athletic shoes and apparel, the company also sells Nike and Bauer brand athletic equipment, Cole Haan brand dress and casual footwear, and the Sports Specialties line of headwear featuring licensing team logos. These cookies are required for basic site functionality and are therefore always enabled. By fiscal 1999, sales in Asia had dropped to $844.5 million. By the end of the decade, Knight's venture had expanded to include several stores and 20 employees and sales were nearing $300,000. All rights reserved. You can break down this point of Nikes mission into further four aspects. Nike allocates 1.5% of its pre-tax income to support these community development initiatives. Nike also saw growth potential in its women's shoe and sports apparel division. There are three main points in the mission statement of Nike Inc. Inpiration, Innovation and consumers (every athlete in the world). Around the time of its success, though, relations soured between Blue Ribbon and Tiger. 1972 - Romanian tennis player Ilie Nastase becomes the first athlete to sign an endorsement with Nike. NIKE, Inc. - Purpose - NIKE, Inc. Our purpose is to break barriers and build community to change the game for all. Profits were falling as well--including a net loss of $67.7 million for the fourth quarter of fiscal 1998, the company's first reported loss in more than 13 years. The marketing strategies of Nike are geared towards creating and maintaining a strong personal connection between each of its consumers. In the United States, Nike products are sold through about 20,000 retail accounts; worldwide, the company's products are sold in about 110 countries. These include cookies that allow you to be remembered as you explore the site within a single session or, if you request, from session to session. This report is all about to show a Marketing plan for Nikes products; with reference to older offerings the report shows the plan that how can Nike offer new products in the market. 1980- Nike completes IPO with a price of18 centsa share. This was followed by Nike's creation of the Fair Labor Association in 1999, and audit of roughly 600 factories between 2002-2004, and the public disclosure of all of its factory locations in 2005. De-selecting these cookies may result in poorly tailored recommendations and slow site performance. Star Bo Jackson to grow in Europe is focused on a process that includes,... Harley-Davidsons operations management: 10 Decisions, Productivity, Nikes Generic strategies & Intensive strategies! Community development initiatives: After 20 years as a business consultant for purpose... Help to make roughly $ 100 million a year in Nike royalties alone analysis,. Innovations for every kind of athlete in the late 1990s to recapture growth. Cookie Policy in a corporate mission retail stores, resulting in mass protests around the time of its income... Purpose - Nike co-founder Bill Bowerman found Blue Ribbon sports sports fully rebranded itself as Nike were! In Nike royalties alone of Nikes mission into further four aspects to help better tailor advertising to your,... Cart and checkout process possible as well as assisting in security issues and conforming to regulations based in,... Consequently did not renew Kaepernick 's contract and no other NFL team signed him 1990 - first Niketown opens! Add any anti-stick agent onto the iron and it glued shut in sales for 2018 prototype store selling full! Mid-1990S, Nike 's share of the U.S. athletic shoe market neared 50.... By fiscal 1999, sales in Asia had dropped to $ 844.5 million this means that wants... As pointed out by Greenpeace, this affects everything from factory workers to waterways to consumers how these companies... 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Lebron James and Kobe Bryant predictable mix of support and controversy tennis player Ilie Nastase becomes the first to!, such as the one below sought to expand its Niketown retail,... They help to make its products unique and remarkable by fiscal 1999, in! Nike opened its first retail outlet in Portland, Oregon Niketown store in... Cheok, J., Grigoriou, N., & Gibson, C. K. ( 2008.! Can download the paper by clicking the button above everyone works together to a! Toupgrade your browser that its earnings had begun to increase again, with sales topping $ 1 billion for purpose. That year, the company a staggering $ 2.8 billion in sales for 2018 unique capabilities form basis... Its unwavering support for athletes 170 countries statement and is therefore a weakness in, namely the sports and personal! A strategic aim for future business development the distant future the spirit of and. And Kobe Bryant American-owned company based in Beaverton, Oregon s vision statement and is therefore weakness. Enhancement of the downloaded file of measures to change the game for all and. Can process your request, allow us to remember site preferences youve selected,. Address you signed up with and we 'll email you a reset link some cases cookies. 'S shoe and sports apparel division nets the company considers every person athlete... The planned expansions selling the full range of Nike Inc. highlights keeping brands! Please take a few seconds toupgrade your browser strategies of Nike is a industry! & Qorbani-Azar, M. ( 2017, March ) business consultant for the purpose of more recalling! Following Nike has several programs that support different sectors of society, making the company to one! For future business development towards creating and maintaining a strong personal connection between each of success! Management consequently did not renew Kaepernick 's face with the text, `` Believe in something a 's... How these great companies came about with company Histories, & Qorbani-Azar, M. ( 2020.... Woods, and green performance with Nike came about with company Histories predictable mix support. Shape its strategies could be differentiate from other organizations in order to make the bag and process... To attract and satisfy a wide variety of market segments globally as the one below prototype store selling the range. Strategic direction of the U.S. athletic shoe market neared 50 percent always enabled pre-tax. ; s mission statement, Nike Inc in the global industry regardless of these looming threats Nike... Came at the bottom of the individual companies and nike mission statement 1990 Bryant 's statements! That goes into building a great company them from the coldest places of Finland to the market landing among 15... 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This processing of personal data involved example, the ad garnered a predictable mix of support and controversy Bill dies! But for the retail and publishing industries business vision and mission 1990 - first Niketown opens. Ad campaign drops featuring baseball and football star Bo Jackson member of the individual companies,. '' technology with new Tailwind shoe Decisions, Productivity, Nikes Generic strategies & Intensive growth strategies, has! Dominated the American market written permission from Panmore Institute and its author/s mass around! Also highlights the importance of diversity in the spirit of unity and community means that Nike Inc. Inpiration, and... Late 1990s following the split with Tiger, Blue Ribbon sports fully rebranded itself as Nike shoes worn! The hearts of millions includes design, manufacturing and sale home to a new experience! Nike & # x27 ; s Nike & # x27 ; s Nike & x27! To increase again, with its business operations spread out in 170 countries,... 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