...MAZOR ROBOTICS LTD. ENTERPRISE VALUATION September, 2014 1 1. Executive Summary 2. Company Profile 1.1. Overview 1.2. Business Model 1.4. General Financial Analysis 1.5. Ownership Summary 3. Market Overview 1.1. Company Market 1.2. Competition 1.3. Robotic Surgery Systems Industry 1.4. Regulation 1.5. SWOT 4. Financial Analysis 1.1.1. Financial Statements Summary 1.1.2. Revenue 1.1.3. Operating Expenses 1.1.4. Balance Sheet 1.1.5. Finance Expenses 1.1.7. Cash 5. Enterprise Value 1.1.5. Methodology 1.1.6. General Valuation Assumptions 1.1.7. WAAC 1.1.8. Evaluation Chart 3 4 4 5 5 6 6 6 6 6 7 8 8 9 9 10 11 11 Net 12 13 13 13 14 DCF 14 2 1. Executive Summary We have been engaged to estimate the fair market value of the business enterprise known as Mazor Robotics, Ltd. (below “Business Enterprise”) as of September 30, 2014 for the purpose of learning and exploring the valuation of the subject as a part of the semester paper. This estimate of value analysis is based on the use of fair market value as the standard of value. For the point at the matter of this analysis, fair market value is defined as the expected price at which the business would change hands between a willing buyer and a willing seller1, based on its future evaluation income, neither being under a constraint to close the deal and both having full conversance of all the relevant facts. This is nearly similar to the market value basis definition as it is stated under the International Valuation Standards2...
Words: 6291 - Pages: 26
...ARTS 105 Art Appreciation Summer 2016 Session (15-55) May 30 , 2016 – July 23, 2016 Course Description Introduction to the place of visual art in modern society, to the vocabulary used in discussing a work of art, and the studio techniques artists use to produce two and three-dimensional works Prerequisite: None Proctored Exams: None Instructor Information Dr. Patricia Rooney, PhD American Studies-Visual Culture, St. Louis University M.A. Art History, Webster University parooney@cougars.ccis.edu Textbooks Frank, Patrick. Prebles’ Artforms 11th Edition. 2014. Upper Saddle River, NJ: Pearson, 2014. ISBN: 978-0-205-96811-4 Textbooks for the course may be ordered from MBS Direct. You can order * online at http://direct.mbsbooks.com/columbia.htm (be sure to select Online Education rather than your home campus before selecting your class) * by phone at 800-325-3252 For additional information about the bookstore, visit http://www.mbsbooks.com. Course Overview Art Appreciation is an introduction to the principles and concepts used in the study and analysis of the fine arts, in order to achieve a basic understanding of art and artistic concerns. Art Appreciation studies the major cultural achievements and significant artistic works that have shaped Western culture. The approach to this course is to study the arts in an historical context beginning with the earliest artistic expressions of ancient societies...
Words: 5065 - Pages: 21
...Two Great Renaissance Artists The Renaissance period is known as a period of the rebirth of Greek ideas. The works of this time were more individualized and the artists had more artistic freedom then were allowed in the Medieval or middle Ages. Two of the greatest individuals of the Renaissance time period were Leonardo Da Vinci and Michelangelo. Not only was Da Vinci a great artist, he was also the best in many fields other than art. “Leonardo is often viewed as the archetype of the "Renaissance Man" because of his expertise and interest in many different areas, including art, science, music, mechanics, the arts of war, politics, philosophy, and nearly every other subject that mattered” (Wikibooks, 2010). Michelangelo Buonarroti is arguably one of the most inspired creators in the history of art and the most potent force in the Italian High Renaissance. As a sculptor, architect, painter, and poet, he exerted a tremendous influence on his contemporaries and on subsequent Western art in general. Both artists had multiple pieces of great art in this time period. Michelangelo had plenty of influences. When he was young he would sketch things on his way to art class. He soon had lessons from a local artist who was also his art teacher named Francesco Granacci. Granacci worked with him for the next couple of years (Harris). He was amazed at how fast Michelangelo learned and how much he excelled compared to Granacci's other students (Ryan). Around age thirteen Michelangelo...
Words: 2598 - Pages: 11
...the hands with clenched fists, the left foot slightly advanced, and an ambiguous facial expression. It must be noted that this “typical Egyptian style” is much more a product of the Egyptian belief system and its associated symbology than the artistic imagination or technical competence of Egyptian artisans (ibid., [YOUR LAST NAME] 2 88). The influence of this Egyptian style can be seen on some of the earliest Greek sculptures, particularly those of two important Greek styles. The first of these is the kouros, a figure of a young nude male and the second is the kore, a figure of a young clothed female (Richter, 102-106). The earliest known versions of the kouros and kore are clearly derivatives of Egyptian sculptures. Apart from the difference in subjects (youths rather than religious figures), the Greeks made few innovations. One that is...
Words: 1681 - Pages: 7
...Replicas and Forgeries Chris Rohr Western Governors University Replicas and Forgeries Fakes, forgeries and replicas have been created for centuries. Determining the difference between them has been an issue of growing importance. Hundreds of books have been written on the subject and there are professions and organizations built around determining the true nature of an object. For the purposes of this paper and object may be a work of art, a document or an artifact. A replica is a copy of an original object that is not presented as the original. The replica is not considered the original even if it is made of the same materials and constructed in the same fashion as the original object. A forgery or a fake is a copy of an object that is represented as the original object. The forgery or a fake is not considered the original even if it is made of the same materials and constructed in the same fashion as the original object. According to some experts determining the authenticity and originality of an object is becoming more and difficult “...we have become so immersed in the world of mediated representations that we can no longer tell the difference between authentic and the artificial” (Knight & Long, 2004, p. 2). The differences which separate replicas from forgeries or fakes are deception in representing the object, altering the value of the object and the intent in the creation of the object. The intent to deceive the true representative nature of an object is...
Words: 2311 - Pages: 10
...Remote Robotic Surgery in Germany By: Christopher Redman MIS535 I will discuss how robots entered our lives, and this has historical roots after the play by the author Karel Capek, then those robots entered all aspects of our lives, and my topic is the medical field; the first robotic usage was performed in 1987, and there was many drawbacks to those first experiences such as restricted degrees of motion, decreased sense of touch, and .increased sensitivity to hand movement. The main issues that surrounds this procedures is safety measures and maintenance, as there is no grantee that the computer systems of robot is going to work in high safe. Other issues comes from the cost, since robotic surgery is more expensive than traditional, this will make it unavailable for public hospitals, and those who are poor may not be able to benefit from this technology, but this transfer from traditional methods in medicine must happen, as technology affected all aspects of our lives. Robot might sound as a very modern scientific invention, but it is not as the first time “robot” was introduced and coined was in 1921, in a play written by the Czech writer Karel Capek, and since then robots took a place in many aspects of our lives, they also take place in dangerous and highly precise tasks, such as aviation, and here we will discuss the medical usage of robots, starting from the history, to political and economic questions, also Psychological considerations...
Words: 4024 - Pages: 17
...Daily 1. ADR The Average Daily Rate is a method to calculate the average amount paid per room per night. For example, when a hotel earned €100,000 in a year with 500 rooms available, its ADR would be €100,000/500 = €200. ADR alone is not specific enough to function as a key indicator of a hotel’s performance. A hotel may have a high ADR but occupancy can still be low, meaning that the hotel is loosing out on potential profits. The importance here is that ADR is valuable for calculating RevPar. Total Room Revenue Number of rooms sold = € http://www.wikinvest.com/metric/Average_Daily_Rate_-_Hotels_%28ADR%29 2. RevPAR Revenue per available room, referred to as RevPAR, is an indicator used to measure the revenue gained by selling hotel rooms. This indicator is one of the most important ratios of all in the process of RM, as it gives a clear picture on revenue per room and how certain tactics and decisions turn out to either have a positive or negative effect. RevPar is calculated by multiplying occupancy with ADR. This also means, that although RevPar of one hotel might be higher than that of the competitor, this hotel can still have a lower bottom line because of revenue from other departments or a bigger amount of rooms Total Room Revenue Number of available rooms = € 3. Bed occupancy The occupancy percentage for a hotel property is computed daily and can be used to predict demand, however without giving too much detail. Calculating single...
Words: 3365 - Pages: 14
...Organizational Behavior and Human Decision Processes Vol. 86, No. 1, September, pp. 99–130, 2001 doi:10.1006/obhd.2001.2974, available online at http://www.idealibrary.com on Mood and Emotions in Small Groups and Work Teams Janice R. Kelly Purdue University and Sigal G. Barsade Yale University Affective influences abound in groups. In this article we propose an organizing model for understanding these affective influences and their effects on group life. We begin with individuallevel affective characteristics that members bring to their groups: moods, emotions, sentiments, and emotional intelligence. These affective characteristics then combine to form a group’s affective composition. We discuss explicit and implicit processes through which this affective combination occurs by examining the research on emotional contagion, entrainment, modeling, and the manipulation of affect. We also explore how elements of the affective context, such as organizationwide emotion norms and the group’s particular emotional history, may serve to constrain or amplify group members’ emotions. The outcome, group emotion, results from the combination of the group’s affective composition and the affective context in which the group is behaving. Last, we focus on the important interaction between nonaffective factors and affective factors in group life and suggest a possible 2001 Academic Press agenda for future research. During the past century, a tremendous amount of research attention...
Words: 15106 - Pages: 61
...Metaphysics From Wikipedia, the free encyclopedia Jump to:navigation, search This article is about the branch of philosophy. For the work of Aristotle, see Metaphysics (Aristotle). |Philosophy | |[pic] | |Branches[show] | |Aesthetics | |Epistemology | |Ethics | |Logic | |Metaphysics | |Social philosophy | |Political philosophy | |Eras[show] | |Ancient | |Medieval | |Modern | |Contemporary | |Traditions[show] | |Analytic | |Continental | |Eastern | |Islamic | |Marxist | |Platonic | |Scholastic | |Philosophers[show] | |Aestheticians | |Epistemologists...
Words: 48829 - Pages: 196
...BEAUTY IN THE AGE OF MARKETING Bingqing Yin and Susie Pryor Contact person: Susie Pryor Bingqing Yin Assistant Professor Master’s student School of Business School of Business Washburn University Washburn University 1700 S. W. College 1700 S. W. College Topeka, KS 66621 Topeka, KS 66621 Phone: 785-670-1601 Phone: 785-670-1601 Email: susie.pryor@washburn.edu Email: bingqing.yin@washburn.edu Beauty in the Age of Marketing Beauty, it is said, is in the eye of the beholder. It is, accordingly, subjective and presumably both socially and culturally influenced. From a marketer’s perspective, this is a less than useful perspective, for beauty sells. A body of research suggests, for example, that physically attractive models used in advertising produce consumer expectations of accountability, dynamism and trustworthiness; therefore, marketers tend to use these models to enhance and strengthen the appeal of their advertisements and products (Atkin and Block 1983; Kamins and Gupta 1994). Physically attractive people are known to be perceived by consumers as friendly, warm, dominant, sociable, outgoing, responsive, and possessing both self-esteem and intelligence (Adams, 1977; Adams & Read, 1983; Berscheid & Walster, 1974; Bloch & Richins, 1992; Cann, Siegfried, & Pearce, 1981; Dion & Dion ,1987; Goldman & Lewis, 1977). Individuals favor and are favorably disposed towards physically attractive people...
Words: 6961 - Pages: 28
...Décentralisation au Burkina-Faso : une approche en économie institutionnelle Thèse présentée à la Faculté des sciences économiques et sociales de l’Université de Fribourg (Suisse) par Abraham KY du Burkina-Faso pour l’obtention du grade de Docteur ès sciences économiques et sociales Acceptée par la Faculté des sciences économiques et sociales le 18.02.2010 sur proposition de Monsieur Prof. Bernard Dafflon (premier rapporteur) et Monsieur Prof. Thierry Madiès (deuxième rapporteur) Fribourg 2010 « La faculté des sciences économiques et sociales de l’Université de Fribourg (Suisse) n’entend ni approuver, ni désapprouver les opinions émises dans une thèse : elles doivent être considérées comme propres à l’auteur (Décision du Conseil de Faculté le 23 janvier 1990). » Dédicace A feue Sima Catherine, ma chère maman qui est partie dix jours exactement après la soutenance publique de cette thèse. Naan, tu peux reposer en paix, ta foi et ta générosité naturelle, ton humilité et ton intégrité forment un legs incommensurable. Ce legs-là, constituera pour moi un horizon indépassable tout au long de ce pèlerinage sur cette terre d’exil ! Remerciements Pour deux raisons au moins, je me dois d’adresser mes premiers mots, chaleureux et de grande reconnaissance, au Prof. Bernard Dafflon, titulaire de la Chaire de finances publiques et de gestion des politiques publiques. La première raison tient en l’éthique de ce dernier, son éthique de l’humain d’où qu’il vienne. En effet, alors qu’il...
Words: 96283 - Pages: 386
...Adidas nike case study - Document Transcript 1. VS1 2. A COMPARITIVE ANALYSIS OF MARKETINGSTRATERGIES FOLLOWED BY NIKE AND ADIDAS TEAM MEMBERSANUPAMA VENU 09014CLAES JOTORP 09126DEEPAK TUSHIR 09032GUSTAV TENERZ 09128SAIRAM KRISHNAN 09088SANJAY SHARMA 09090SUNANDA SURESH 09112 2 3. INDEX1. INTRODUCTION 1.1. BRIEF ANALYSIS OF INDUSTRY 1.2. BRIEF DEFINITON OF INDUSTRY 1.2.1.TRENDS IN THE INDUSTRY 1.2.2.MARKET ANALYSIS 1.2.3.MAJOR PLAYERS AND MARKET SHARES 1.3. MAJOR FORCES SHAPING THE INDUSTRY 1.3.1.PORTER S FIVE FORCES 1.4. PREDICTION FOR 2009-2010 1.5. THE COMPANY AND MAJOR PRODUCT LINES 1.5.1.BRIEF HISTORY OF COMPANY 1.6. FLAGSHIP PRODUCTS, MAJOR PRODUCT LINES, RECENT FORAYS 1.7. HISTORY OF THE BRANDS2. MARKETING STRATERGY 2.1. CUSTOMERS 2.2. COMPETITORS 2.3. COLLABORATORS 2.4. COMPANY 2.5. CONTEXT 2.5.1.TECHNOLOGY 2.5.2.SOCIO CULTURAL 2.5.3.ECONOMIC3. SEGMENTATION, TARGETING, POSITIONING 3.1. MARKET SEGMENTATION 3.2. SEGMENTS TARGETED 3.3. POD S AND POP S 3.4. VALUE PROPOSITION 3.5. POSITIOING 3.6. EVOLUTION AS A BRAND4. MARKETING MIX 4.1. PRODUCT 4.2. PLACE 4.3. PRICING 4.4. PROMOTION5. ANALYSIS REPORT 5.1. CUSTOMER SURVEY 5.2. MARKETING STRATERGIES 5.3. PORTER S GENERIC STRATERGIES 5.4. CREATING VALUE 5.5. CAPTURING VALUE 5.6. SUSTAINING VALUE6. REFERENCES 3 4. INTRODUCTIONBrief Analysis of IndustrySport is an integral part of modern contemporary society. Sport has always been associatedwith discipline, dedication and perfection and hence sportsmen have always...
Words: 14002 - Pages: 57
...Helping Your Child Learn Science U.S. Department of Education Margaret Spellings Secretary First published in September 1992. Revised in 2004 and 2005. This booklet is in the public domain. Authorization to reproduce it in whole or in part for educational purposes is granted. While permission to reprint this publication is not necessary, the citation should be: U.S. Department of Education, Office of Communications and Outreach, Helping Your Child Learn Science, Washington, D.C., 2005. To order copies of this publication in English or Spanish, write to: ED Pubs Education Publications Center U.S. Department of Education P.O. Box 1398 Jessup, MD 20794-1398; or fax your request to: (301) 470-1244; or e-mail your request to: edpubs@inet.ed.gov. or call in your request toll-free: 1-877-433-7827 (1-877-4-ED-PUBS). If 877 is not yet available in your area, call 1-800-872-5327 (1-800-USA-LEARN). Those who use a telecommunications device for the deaf (TDD) or a teletypewriter (TTY), should call 1-800-437-0833. or order online at: www.edpubs.org/webstore/Content/search.asp This publication is also available on the Department’s Web site at: www.ed.gov/parents/academic/help/hyc.html On request, this publication is available in alternate formats, such as Braille, large print, audiotape, or computer diskette. For more information, please contact the Department’s Alternate Format Center at (202) 260-9895 or (202) 205-0818. Children’s books and magazines are mentioned in this booklet...
Words: 15638 - Pages: 63
...HISTORY AND THEORY STUDIES FIRST YEAR Terms 1 and 2 Course Lecturers: CHRISTOPHER PIERCE / BRETT STEELE (Term 1) Course Lecturer: PIER VITTORIO AURELI (Term 2) Course Tutor: MOLLIE CLAYPOOL Teaching Assistants: FABRIZIO BALLABIO SHUMI BOSE POL ESTEVE Course Structure The course runs for 3 hours per week on Tuesday mornings in Terms 1 and 2. There are four parallel seminar sessions. Each seminar session is divided into parts, discussion and submission development. Seminar 10.00-12.00 Mollie Claypool, Fabrizio Ballabio, Shumi Bose and Pol Esteve Lecture 12.00-13.00 Christopher Pierce, Brett Steele and Pier Vittorio Aureli Attendance Attendance is mandatory to both seminars and lectures. We expect students to attend all lectures and seminars. Attendance is tracked to both seminars and lectures and repeated absence has the potential to affect your final mark and the course tutor and undergraduate coordinator will be notified. Marking Marking framework adheres to a High Pass with Distinction, High Pass, Pass, Low Pass, Complete-toPass system. Poor attendance can affect this final mark. Course Materials Readings for each week are provided both online on the course website at aafirstyearhts.wordpress.com and on the course library bookshelf. Students are expected to read each assigned reading every week to be discussed in seminar. The password to access the course readings is “readings”. TERM 1: CANONICAL BUILDINGS, PROJECTS, TEXTS In this first term of...
Words: 22588 - Pages: 91
...A TEACHER’S GUIDE TO THE SIGNET CLASSIC EDITION OF BOOKER T. WASHINGTON’S UP FROM SLAVERY By VIRGINIA L. SHEPHARD, Ph.D., Florida State University S E R I E S E D I T O R S : W. GEIGER ELLIS, ED.D., ARTHEA J. S. REED, PH.D., UNIVERSITY OF GEORGIA, EMERITUS and UNIVERSITY OF NORTH CAROLINA, RETIRED A Teacher’s Guide to the Signet Classic Edition of Booker T. Washington’s Up from Slavery 2 INTRODUCTION Booker T. Washington’s commanding presence and oratory deeply moved his contemporaries. His writings continue to influence readers today. Although Washington claimed his autobiography was “a simple, straightforward story, with no attempt at embellishment,” readers for nearly a century have found it richly rewarding. Today, Up From Slavery appeals to a wide audience from early adolescence through adulthood. More important, however, is the inspiration his story of hard work and positive goals gives to all readers. His life is an example providing hope to all. The complexity and contradictions of his life make his autobiography intellectually intriguing for advanced readers. To some he was known as the Sage of Tuskegee or the Black Moses. One of his prominent biographers, Louis R. Harlan, called him the “Wizard of the Tuskegee Machine.” Others acknowledged him to be a complicated person and public figure. Students of American social and political history have come to see that Washington lived a double life. Publicly he appeased the white establishment...
Words: 13713 - Pages: 55
