Titel: En analys om hur virtuella IT företag analyseras och värderas år 2012 Bakgrund: Under Dot.com perioden som följde Netscapes lansering jobbade analytiker med utmaningen att värdera en ny form av företag som agerade på internet. Problemet för analytikerna var bland annat att värdera och analysera dessa nya virtuella företag, eftersom de flesta av dem var nystartade så ansågs det att nyckeltal som PE – tal inte gav en rättvis värdering (Briginshaw, 2002). Det som följde Dot.com kraschen vid början av 2000 talet resulterade till att även väl fungerande IT företag med en hållbar affärsidé, fick problem med finansieringen på grund av deras nya låga värdering (Bernhardsson, 2002). Drygt ett decennium efter Dot.com perioden, börsnoterades LinkedIn, ett socialt nätverk år 2011, och ökade i värde med 109,4 % vid handelsdagens slut (www.affärsvarlden.se). Syfte: Syftet med denna uppsats är att få en förståelse för hur virtuella IT företag värderas. Vi vill sedan ta reda på vad som analyseras och vad analytikerna lägger fokus på i deras analys samt vilken värderingsmetod som anses ge den mest rättvisande värderingen av IT företag. Metod: Uppsatsen är en kvalitativ studie baserad på sju professionella individer, med erfarenhet av företagsvärdering. Alla individer är från olika företag, bakgrunder och har därmed olika förutsättningar. Den empiriska datainsamlingen har utförts genom både telefon intervjuer och i person. Slutsatser: I uppsatsen har vi formulerat en rad slutsatser baserat utifrån insamlad data och de analyser som utförts. Det vi har funnit är att det läggs ett större fokus på verksamhetsanalysen än den finansiella analysen, vid en företagsanalys av IT bolag. Utifrån insamlad data har vi identifierat ett par poster i verksamhetsanalysen och hur mycket fokus som läggs på respektive. Baserat på dessa poster har vi tagit fram ett eget sätt att beräkna riskmultiplikatorn i CAPM modellen. / Title: An analysis of how virtual IT companies are analyzed and evaluated in 2012 Background: During the Dot.com period that followed Netscape's launch, analysts were working on the challenge of evaluating a new form of company that acted on the internet. Analysts had problems with evaluating and analyzing these new virtual companies, since most of them were newly started it was considered that key ratios like Price-Earnings ratio did not provide a fair valuation (Briginshaw, 2002). What followed the Dot.com crash in the beginning of the 2000 century resulted in that even well-functioning of a viable projects, had problems finding funding because of the low valuation (Bernhardsson, 2002). More than a decade after the Dot.com period, LinkedIn a social network was listed in in 2011, and increased in value by 109.4% at the end of the trading day (www.affärsvarlden.se). Purpose: The purpose of this paper is to gain an understanding of how virtual IT companies are valued. We then want to find out what is analyzed and what the analysts are focusing on in their analysis and the valuation method that is considered to provide the most accurate valuation of IT companies. Method: The essay is a qualitative study based on seven professional individuals with experience in business valuation. All individuals are from different companies, backgrounds and thus have different conditions. The empirical data collection has been performed by both telephone interviews and in person. Conclusion: In this paper we have formulated a series of conclusions based on the basis of data gathered and the analyzes performed. What we have found is that there is a greater focus on business analysis than on the financial analysis, in business analysis of IT companies. Based on the collected data, we have identified a few items of business analysis and how much emphasis placed on each. Based on these items, we have designed a special way to calculate security of the beta, of the CAPM.

<p>In the last 50 years, a considerable amount of research workhas been completed in the mathematical system theory and theoryof control. Implementation of the results from this researchinto practice has drastically decreased the production costs.Most production processes are highly automated, and the use ofrobots in industry is growing. As far as office, or businessprocesses are concerned, the situation is quite different.Though the office workers and sales personnel have obtainedmuch help from the modern computers, the office and salesprocesses are far behind the production processes on the levelof automation. The computers are used in the office mainly tohelp in performing various activities, e.g., to write a letter,to print an invoice, to complete a transaction, etc. Thecontrol of the business processes in the office remains, to alarge extent, manual. There is a lot to gain if the controlover business processes could be automated, at leastpartially.</p><p>The material presented in this thesis is aimed to supportthe following hypothesis: "<i>The ideas worked out in the Mathematical system theory formodeling and controlling physical processes can be successfullyused for modeling and controlling business processes</i>." Oneof the main ideas of mathematical system theory is to considera process as a set of valid trajectories in a state space, andthis idea is the keystone for the thesis. The thesis startswith reformulating the state-oriented approach for the domainof business processes to show what kind of sate space can beused in this domain. First, the approach is introducedinformally by means of an example. Next, a possibleformalization adjusted to the properties of business processesis discussed. Then, experimental evidences that the methodsuggested in the thesis can be used in practice are presented.The suggested method is also compared with other methods ofbusiness process modeling to find out the areas where it hasadvantages over the other methods. In the conclusion, theresults are summarized, and plansfor the future are drawn.</p><p>Most of the material included in the thesis has beenpublished and presented at international conferences. Thecontribution of this thesis consists in organizing the materialin support of the main hypothesis.</p>

The subject of the thesis is to develop a business plan for an establishment of store. The introductory part contains theoretical work and is followed by more detailed analysis of the current market situation. In a proposal part, there is a detailed entrepreneurial plan, which describes the implementation, complexity and risk assessment project, including project feasibility.

Requirements Engineering and Software Quality Management is nowadays considered to be one of the important parts of the software development process. This thesis deals with connecting the theoretical concept of requirements engineering and usage of functions offered by Enterprise Architect tool, which should support the requirements engineering and software quality management processes. The main goal is to propose procedures of Enterprise Architect usage during the project in such a way, which will help to raise quality of the final product. The purpose is to offer a systematic and conscious way of implementation Enterprise Architect elements into software development processes, because this tool is able to support the whole cycle of the product. The methodology was designed as a result of theoretical concept, existing requirements engineering approaches and my own experience acquired during working on projects as a business and test analyst. The contribution of the designed methodology is in bringing recommendations, practices and procedures saying how to use Enterprise Architect during the software development process in order to gain the highest possible software quality. The thesis is structured in four sections describing the appropriate theory, analyzed requirement engineering approaches, critical mistakes during this process and the methodology design.

Information is the currency of our world. Making right decisions requires having reliable, comprehensive and thorough information still at hand. The tools that can provide it? Information systems. However, the purpose of today's information systems is more than to just collect and store information: they need to integrate numerous data sources (both internal and external), identify essential pieces of information and set them apart from the rest, and provide the people relying on them a clear picture of the situation. In short: they should offer unified, user-friendly, well-structured and comprehensive view of business reality. This paper focuses on the first stage of an information system design. Concerned primarily with the business analytical phases of an IT project, it presents an insight into the process of business reality exploration and description through conceptual data model and architecture vision articulation.

Diplomová práce je zaměřena na analýzu vybraného podnikatelského subjektu. Na základě zkoumaných analytických metod vnějšího a vnitřního prostředí podniku je zhodnocena celková situace podniku. V závěru práce jsou uvedeny návrhy a doporučení na zlepšení stávající situace.

This diploma thesis aims at analyzing accounting and financial indicators using time series, regression analysis and interval regression analysis of selected company VIDEN plus, a.s. The thesis analyzes the development trends of individual indicators, which are able to reveal the state of the company. Based on the data obtained, the issue of company risks arising from the analyzes and their correction is then addressed.

The thesis is focused on creating a business plan for establishing businesses in the food industry. The company is engaged in domestic production and sales of salty and sweet pastries. The main activity is production-filled turnovers. Supplementary assortment consists of wedding cakes, Christmas cookies and small cakes. Products are designed for daily sales in the company store, but especially at celebrations and other special occasions. Business plan based on the characteristics of general and occupational environment, market analysis and company internal factors. After reviewing the proposal, marketing strategy and financial characteristics of the plan appears to be successful and therefore feasible.

The Master Thesis deals with a business plan for photographic studio foundation in Trutnov. Simultaneously, the business plan analyzes a status of other photographic studios. Based on the research and analyses are chosen the suitable strategy and tools for the business plan composition which determines the chances and terms for execution of the project.

The subject of the thesis is to develop a business plan for a new squash center in the Vysocina region. The introductory part contains theoretical work, explains the basic concepts and specific business methods. The analytical part assesses market environment through external and internal analyzes. The final section focuses on the preparation of business plan itself, which is based on the current market situation. It also describes the implementation, complexity and risk assessment project, including project feasibility.