The Foundation of Utility and John Stuart Mill Essay

The Foundation of Utility and John Stuart Mill The foundation of Utility is based on John Stuart Mills notion that one must strive to act in such a way to produce the greatest good of the greatest number. Utility itself relies on the responsibility of the individual to remain impartial in his endeavor to produce the greatest good, looking past such extrinsic influences that may render the individual to seek a biased sense of satisfaction. In order for Utility to function as Mill wanted it to, honest judgment and objectivity must be an essential part of ones drive for the acquisition of the greatest good. In order for the insistence that equity and impartiality to hold true to Mills Utility, we must find a foundation from†¦show more content†¦Mills Utilitarianism presupposes that human beings do have a concept for general well being, and that is genuinely by nature good and willfully ethical. It is this generalization that spawns for these sanctions that he has addressed, and it is the role of the good nature of man that determines the worth of his actions. This is also the pivot in Mills mechanics that is probably most argued upon. Kant, Neibhor, and Plato would have had much to say on Mills assumption of the natural goodness of mankind and his given instinct to do good. If impartiality and equity are what good will and duty bring forth, Mill has provided a basis within utilitarianism that reinforces this. Aside from distinct sanctions, many other aspects of Utility lead to the notion that impartiality and equity are set boldly within the framework of Mills interpretatio n. According to Mill, all people are, ethically speaking, equal in all situations. When considering the value of happiness from one individual to another, the issue is proposed to be a straight line representing the equality the value from individual to individual. One persons happiness is just as important as anothers. With this in mind, there is no such reason to even consider a biased view on the distribution of happiness, for in the beholders eyes, it is nothing but equal.Show MoreRelated`` On The Hunt : Killing, Eating, Respecting Wild Beast, By John Stuart Mill1581 Words   |  7 PagesIn the essay Utilitarianism, John Stuart Mill argues the purpose of morality is to create a better world as a whole, or to achieve utility. Mill defines utility as actions that promote happiness and pleasure, with the absence of pain and suffering and asserts that utilitarianism embodies this concept, as it is a moral theory that encourages and preaches actions that coincide with such ideal s. John Stuart Mill’s Utilitarianism relates to A New Environmental Ethics, authored by Holmes Rolston III,Read More John Stuart Mills Philosophy of Happiness Essay1099 Words   |  5 PagesJohn Stuart Mills Philosophy of Happiness Along with other noted philosophers, John Stuart Mill developed the nineteenth century philosophy known as Utilitarianism - the contention that man should judge everything in life based upon its ability to promote the greatest individual happiness. While Bentham, in particular, is acknowledged as the philosophy’s founder, it was Mill who justified the axiom through reason. He maintained that because human beings are endowed with the ability for consciousRead MoreJohn Stuart Mill : Views On Objectivism Essay1233 Words   |  5 PagesJohn Stuart Mill: Views on Objectivism John Stuart Mill defends objectivism about intrinsic value within utilitarianism. A theory of intrinsic value indicates what things are valuable for their own sake. Within the Theories of Intrinsic Value, we think of Objectivism and Hedonism. Objectivism is best described as: Certain ways of life are intrinsically valuable, even if they hold less pleasure than others. Some things are valuable regardless of, and independently of, the pleasure they may produceRead MoreUtilitarianism Vs. Mill Utilitarianism1004 Words   |  5 PagesVS. Mill Utilitarianism is a normative ethical theory that holds the morally right course of action in any given situation is the course of which yields the greatest balance of benefits over harms. More specifically, utilitarianism’s core idea is that the effects of an action determine whether actions are morally right or wrong. Created with the philosophies of Jeremy Bentham (1748–1832) and John Stuart Mill (1806–1873), Utilitarianism began in England in the 19th Century. Bentham and Mill builtRead MoreUtilitarianism, By John Stuart Mill1365 Words   |  6 Pages In John Stuart Mill’s book Utilitarianism, he argues for the defense of utilitarianism, an age old theory originally developed by Jeremy Bentham that states the proper course of action is the one that maximizes happiness. The course of action that maximizes general happiness is also the only true standard for moral assessment. Mill also introduces the idea of ‘first principle’ which state s that it is not acceptable for individuals to characterize actions as either ‘good’ or ‘bad’, because it isRead MoreAn Introduction to the Principles of Morals and Legislation by Jeremey Bentham.1026 Words   |  5 Pageshappiness and wrong if they don’t produce happiness. Happiness is what every human being look forward to. When making a decision, all possible outcomes must be ensured that it will lead to happiness. Utilitarianism is based on the principle of utility .Utility is the ability to be useful while satisfying needs. Utilitarianism is generally considered a moral theory that was found by Jeremey Bentham, a 19th century English philosopher and a social reformer. In 1923, he wrote a book called An IntroductionRead MoreJohn Stuart Mill s On Liberty And Utilitarianism Essay2257 Words   |  10 PagesThis essay examines and inspects liberty and order conflict based on the writings of philosopher John Stuart Mill, titled On Liberty and Utilit arianism. We will discuss how his philosophical views on equality as fundamental to what it means to be human. We will interpret John Stuart Mill’s theorist view on equality as fundamental to the good or bad functioning of the state? The question and debate we would also raise will be, is equality be integral the arrangements of power? Lastly, we wouldRead MoreJohn Locke And David Hume1135 Words   |  5 PagesBentham was an English philosopher in 18th century London, England. Influenced by the works of John Locke and David Hume, he brought up a philosophical theory that derives from an empirical viewpoint, which means theorizes that all knowledge are obtained through our sense experience. Bentham was considered as the founder of utilitarianism which he defines as, â€Å"the ethical doctrine that virtue is based upon utility and that behavior should have as its goal the procurement of the greatest happiness for theRead MoreUtilitarianism : The Morally Right Action1194 W ords   |  5 Pageshappiness to be the foundation of morality. The famous version, â€Å"act utilitarianism,† says the morally right action is the one that brings about the greatest consequence of the greatest number of people. Mill thought it was obvious that everyone ultimately wants to be happy, so he made this the foundation of his moral philosophy. Mill notice that people were literally defining utility as the opposite of pleasure and not understanding the complete purpose of utilitarianism. Whereas, utility is defined, â€Å"AsRead MoreCareer Prospects Vary For Me872 Words   |  4 Pageshis essay, Utilitarianism, John Stuart Mill defines utilitarianism as a theory based on the principle that actions are right in proportion as they tend to promote happiness, wrong as they tend to produce the reverse of happiness. Mill defines happiness as the presence of pleasure and the absence of pain. Mill notes how a lot of people’s understanding of utilitarianism is skew ed because they view utility as basically resisting comfort or pleasure. He argues that utility, in fact, is pleasure itself

project management - 2568 Words

Prepare a five to seven paragraph response proposing leadership styles you would recommend for the Denver Airport Project. Please choose a combination (two or three) of the eight leadership styles presented in the Thompson textbook (Chapter 11: Leadership: Managing the Paradox). Please note that you are to also use three other sources from the internet or the DeVry online library. All sources must be cited. After reading the Denver Airport Project out of the eight leadership styles I believe active leadership, task leadership, and transformational leadership would be the three styles I would propose for the project. All three styles are team oriented towards reaching the success of the project. With out a close, hard working teams the†¦show more content†¦The Denver Airport Project over two thousand projects and had more than double that in teams to complete the project. With this the teams had to work together within the team and with other teams for the over all goal of the Denver Airport. That fine line called confidence is what team leaders and project managers had to keep instilled in their personnel to keep the drive or forward progress of the project. Any slip on either side of the line could lead to a failed deadline. Overconfidence can lead to internal failure within a person or a team. A good leader will be able to see when his or her team is beginning to demonstrate such behavior and have a technique or strategy to humble the team. This keeps the team focused on the goal at hand and keeps the team on track to achieve the goal. During the Denver Airport Project the main coordinators did not leave room in the timeline for unseen drawbacks and had to keep pushing the airport opening day back. This just was not a few days or weeks this was months to years. Under confidence in my opinion is worse then overconfidence. My experience in the military taught me that both are bad, but in my experience overconfidence can get someone injured or even killed. Under confidence on the hand will get others injured or killed due to the lack of confidence to react. The Denver Airport Project continued to have unseen obstacles continuing to move back the opening day this was a dampening on the teamsShow MoreRelatedProject Management : Projects Management902 Words   |  4 PagesProject Management Project Management. What does the words Project Management mean and what are the steps to managing a great project. If we break down the two words Project Management it is defined on dictionary.com as â€Å"The process of planning, organizing, staffing, directing and controlling the production of a system†. As shown in the website Project Insight there are multiple different steps in the project management roll such as project scope, life cycle, objectives, assumptions, constraintsRead MoreProject Management and Project Management It3115 Words   |  13 PagesExamination Paper: Project Management IIBM Institute of Business Management Examination Paper Project Management Section A: Objective Type (30 marks) †¢ †¢ †¢ This section consists of multiple choices questions and short answer type questions. Answer all the questions. Part One questions carry 1 mark each and Part Two questions carry 5 marks each. Part One: Multiple choices: 1. During _________formal tools and techniques were developed to help and manage large complex projects. a. 1950s b. 1980sRead MoreProject Portfolio Management : Project Management1432 Words   |  6 PagesProject Portfolio Management (PPM) is the centralized management of the processes, methods, and technologies used by project managers and project management offices (PMOs) to analyze and collectively manage current or proposed projects based on numerous key characteristics. The objectives of PPM are to determine the optimal resource mix for delivery and to schedule activities to best achieve an organization’s operational and financial goals ― while honoring constraints imposed by customers, strategicRead MoreProject Management, Project Communication, And Project Stakeholder Management797 Words   |  4 Pagesareas of project management that stood out while taking this program. Project integrated management, project communication, and project stakeholder management. A discussion on how they are executed will be presented. As more courses were taken during this project management graduate program, many of the project management concepts became clear and revealed more of the interdependencies and intricate dynamics that are required for successful project management. Stakeholder Management Project StakeholderRead MoreProject Management : Project Integration Management1236 Words   |  5 Pagesâ€Å"Direct and Manage Project Execution is the process for executing the work defined in the project management plan to achieve the project s requirements/objectives defined in the project scope statement† (comp. PMBOK3, p. 78). The Project Manager helps with the execution of the planned activities, sometimes with the assistance of a project management team for larger projects. This occurs during the execution phase of the project. Figure: Phases of a project When we are completing the work assignedRead MoreProject Management Msc. 7Pjmn009W Project Management Project.1391 Words   |  6 Pages Project Management MSc 7PJMN009W Project Management Project Author: Maria Chico Garrido Date: 06 March 2017 Version: 1.1 Project type: Academic Preferred Supervisor: Proposed Title: How does the use of formal project management methodologies in complex Home Automation projects contribute to project success? Main Deliverables/Milestones: Deliverable Date Project Mandate 09 March 2017 Project Brief: In depth literature review of formal project management methodologies and project success. BackgroundRead MoreProject Management1510 Words   |  7 PagesSystem. You are the project manager on a project to construct a flyover in the city to ease traffic congestion. Flyover construction should cause minimum disruption to the traffic until it is complete. Ensuring safety of the commuters and workers at the site is the responsibility of your company. The date of completion of the project is six months from now. This date cannot be extended because of an upcoming international summit in the city. To achieve the overall project time lines, the followingRead MoreProject Management Project And Change Management1940 Words   |  8 Pages Paper on project management in smart voice project Sohail Kamdar Project and change management Table of contents Name of the topic Page No. Abstract†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..3 Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦4-5 View point of project management†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦5 Outlook of the project†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦5-6 Milestone inventory†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦6-7 WBS†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦7 Plan of project management†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦7-9 Cost savings plan†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Read MoreProject Management1713 Words   |  7 PagesProject Management The Project Manager has some tasks that have to be carried out, he/she is responsible for the full project. The Project Manager has to make the best use of all the resources so the project can be completed successfully. The project Manager sets the boundaries for the project, such as schedules and what is done and when it has to be completed. There are various tasks the project manager is responsible for such as: 1) Time and resource allocation and management 2) Setting upRead MoreProject Management1015 Words   |  5 Pagesor renewed interest in the field of project management? IT is growing at a rapid rate and with that growth demands people to manage this growth. People I think are more trained to be project managers and also there is new software that helps tremendously with the management part of the tasks. So demand is up, skilled workers are up, and the cost benefit is there for this renewed interest. 2. What is a project, and what are its main attributes? How is a project different from what most people do

Child Slavery Free Essays

In the 21st century we have millions of people living with the constant uncertainty of waking up tomorrow. They are not dying of old age – their life has Just begun, they are not living with cancer – their life expectancy Is much shorter, but they are amongst the 27 million men, women and children Involved In the impoverished slave trade. As an ambassador for anti-slavery, I Emma Smith, do not need to argue the wrongfulness of slavery for, as stated by Frederick Douglass In 1 852, â€Å"there Is not a man beneath the canopy of heaven who does not know that slavery is wrong†. We will write a custom essay sample on Child Slavery or any similar topic only for you Order Now On numerous occasions I have witnessed the horror firsthand. I have watched as the statistics continue to exponentially increase. And I have inevitably visited the graves of those who have paved the ultimate price. It is for this reason that I demand change for the better, change for the future and change for the victims who’s pleads go unheard. How in the day of modern technology, can we as a society, have allowed the continuation of these horrific acts of slavery to progress from centuries ago? As you should know, the International Labor Organization formally defined forced Barbour, or slavery, at the forced labor convention In 1930. This definition Is still relevant today and dictates that forced labor Is considered â€Å"all work or service which Is exacted from any person under the threat of a penalty and for which the said person has not offered himself or herself voluntarily. † However, for far too long violations against your human rights doctrine have occurred and consequently, these discrepancies in the system are having detrimental effects. Of the population of slaves in the world today a large percentage is comprised of young innocent children. Can you imagine your child being ripped away from your arms and disposed of to the highest bidder, like sheep in the market? It might sound cruel, it might sound careless, it might sound corrupt but this is the reality for many defined by their cultural attitude and lack of political interference in the cocoa industry. â€Å"While the term slavery has a variety of historical contexts, slavery in the cocoa industry involves the same core human rights violations as other forms of slavery throughout the world† and consumers are oblivious. In developed countries we acknowledge that chocolate homebodies happiness, gratification and luxury but for those children enslaved on the Ivory Coast, yet to taste a morsel of chocolate, its symbolism is quite the opposite. At present, 900 million kilograms of chocolate is consumed each year of which 40 percent is believed to have been contaminated with slavery. A young boy named Amanda was lucky enough to have escaped the exploitation in Africa and pronounces that â€Å"when people eat chocolate, they eat my flesh. Child slavery is the secret ingredient in chocolate however this must stop, this must cease and the inexcusable tactics have to come to an end. The cocoa industry has benefited from the use of forced labor since the early 1 9th century. However, a re-examination of past preventative measures along with a coherent framework for future success will enable a productive start to ceasing all child slavery. You, as the united Nations, have the potential to Intervene as violat ions of your doctrines have occurred for centuries. So why has nothing yet been established? My organization and a collaboration of others plead for intervention. We demand a review of the existing conventions on Furthermore we ask of you to force political involvement in affected countries and with this include resources and funds to ensure that the industry is no longer commercially viable. Finally, the extremity of this situation should involve the disallowing of imports and exports of cocoa which have been tampered by this horrific slavery. In order to cease the production of money through the blood, sweat and tears of all those suffering in bondage, labor camps and disease-ridden chains, the commitment of the United Nations has become imperative. The slavery industry s growing however, this is one industry which must not benefit from growth. You have heard the statistics and you have heard the facts but now is the time for change. No longer can countries, such as Africa, continue to economically exploit the vulnerable and companies must not resort to the use of child slave labor in order to keep prices competitive. I have called for change and I can now only hope that this will be achieved. How to cite Child Slavery, Papers

Financial Analysis of Balckmores Ltd.

Question: Discuss about the Financial Analysis of Balckmores Ltd. Answer: Introduction The investors make decision about investment, lenders have to decide about lending, creditors decide to give material on credit, and the government levies taxes. Therefore, the information contained in the financial statements becomes crucial for all the stakeholders such as shareholders, lenders, creditors, and the government (Gibson, 2012). In the report presented here, the analysis of the financial performance of Blackmores Ltd has been carried with the use of information extracted from the financial statements. Overview of Blackmores: Firms Strategy and Prospects Blackmore, headquartered in Australia, is engaged in developing, marketing, and selling the health products in Australia and New Zealand and in many Asian countries since 1930 (Blackmore Limited, 2016). The companys mission is to improve peoples lives by delivering the best quality products and reaching to as many places it could. With this mission, the company has expanded its operations over the years and now has a presence in China, Thailand, Malaysia, and Singapore also. In order to produce highest quality of products, the company adopts the strategy to use the best quality raw materials (Annual Report of Blackmores, 2015). The company strives to achieve hundred percent customer satisfactions from the use of the products sold by the company. The companys growth prospects are high because of strong brand image and concentrating on the offshore expansion in the upcoming years. Financial Analysis of Blackmores The financial analysis is the process in which the companys profitability, stability, and future growth prospects are evaluated. In order to analyze, the financial performance, the information is extracted from the financial statements such as income statement, balance sheet, cash flow statement and notes forming part of the financial statements. Further, the information contained in the auditor report and the directors report is also crucial in analyzing the financial performance of a company (Nikolai, Bazley Jones, 2009). All these sources of information can be found at one place that is called annual report. The annual report of a company contains not only the financial information but also the auditors report and the directors report. The analysis of the financial performance and the position is carried by applying certain tools and techniques with the use of information collected from the financial statements. The most commonly used tools in evaluation of the financial performance are ratio analysis, and vertical and horizontal analysis. The ratio analysis helps to analyze the profitability and operational efficiency and the vertical and horizontal analysis assists in evaluating the trend (Weygandt, Kimmel, Kieso, 2009). The financial performance and position of Blackmores have been analyzed by applying these tools in the sections given below. In order to analyze the trend, horizontal analysis has been performed on the income statement and the balance sheet of the company as depicted in the appendix-1. In this analysis, the financial year 2013 has been taken as base for analyzing the performance of the financial year 2015. Figure 1: Revenue growth of Blackmores Figure 2: Growth in Net Profit of Blackmores The results of the analysis depict that the revenues of the company has grown by 44.34% over the period of three years. Further, the gross profits and net profits of the company have increased by 47.25% and 88.00% respectively (Appnedix-1). The growth in revenues and profitability achieved by the company in three years time period indicates high growth prospects in the upcoming years. Further, in respect of assets it has been observed that the total assets of the company are up by 26.84%, whereas, the total liabilities have gone up by 20.30% (Appnedix-1). The increment in the assets is greater than the increment in the liabilities, thus, it could inferred that the financial position of the company is good. Additionally, a 35.71% increase in the equity also signifies good financial position and performance of the company over the period of three years (Rich et al., 2012). In addition to the horizontal analysis, the ratio analysis has also been carried out to gauge the financial performance and position of Blackmores in more detail (Ehrhardt Brigham, 2016). The net profit margin, gross profit margin, and return on equity shows an increasing trend indicating good financial performance. The net profit margin was 7.65% in the year 2013, which increased to 9.96% in the year 2015. The gross profit ratio increased to 68.01% in the financial year 2015 from 66.67% in the year 2013 (Appnedix-2). The increment in the net profit margin and gross profit margins also indicate the operational efficiency due which the expenses have been saved. In regard to the liquidity position, current ratio shows a diminishing trend over the period of two years. The current ratio of 2013 was 2.76 times while that of 2015 was observed to be 1.63 times (Appnedix-2). The downfall in the current ratio indicates deterioration in the liquidity position (Ehrhardt Brigham, 2016). Further, to evaluate the solvency position of the company, debt to equity ratio has been computed (Ehrhardt Brigham, 2016). Debt to equity ratio also shows a downward trend, which shows reduction in the total debt as a proportion to the total equity. In the year 2013 the debt equity ratio was observed to be 1.36 times, which decreased to 1.20 times in the year 2015 (Appnedix-2). The decrease in the debt equity ratio indicates that the company is becoming self dependent for finance; however, very low debt ratio may affect the profitability of the company adversely due to low leverage (Ehrhardt Brigham, 2016). As regard operational efficiency, the inventory turnover, accounts receivable to turnover, and assets turnover ratios have been computed (Ehrhardt Brigham, 2016). The inventory turnover ratio was observed to be 8.18, 8.90, and 12.10 times for the financial years 2013, 2014, and 2015 respectively (Appnedix-2). The trend shows an increase in the inventory turnover ratio over the period of three years, which is indicative of good operational performance of the management. However, the accounts receivables days show increase as well, which is unfavorable for the business because the funds are blocked in receivables. In the financial year 2013, the accounts receivable days were observed to be 71 days, which increased to 83 days in the financial year 2015 (Appnedix-2). Further, the asset turnover ratio has also been observed to be increasing over the period of three years. In the financial year 2013, the asset turnover ratio was 1.42 times, while it increased to 1.61 times in the financia l year 2015. The increment in the assets turnover ratio indicates that the management has been able to utilize the assets more profitably in the year 2015 (Ehrhardt Brigham, 2016). Overall, based on the results of horizontal analysis and the ratio analysis, it can be articulated that the financial performance and position of the company has improved over the period of three years. Limitations of Ratio Analysis Although ratio analysis is a useful tool in evaluating the financial performance and position of the business but it has certain limitations (Grier, 2007). The ratio analysis is conducted based on the information and data gathered from the financial statements, which are prepared on historical cost basis. The historical cost basis adopted in preparation of the financial statements may not portray true picture of the business, thus, the results of the ratio analysis may be misleading in the certain cases. Further, the financial statement s are prepared using different accounting policies, thus, the figures in the financial statements may change just due to different accounting policy being adopted. In addition to this, the ratio analysis only provides quantitative analysis but the qualitative analysis is also crucial in assessing the financial performance of the business (Grier, 2007). Usefulness of the Annual Report and the information Contained Therein All the listed public companies in Australia are required to get the annual report prepared and submit that to the Australian Securities and Investment Commission for each year showing the particulars of business and other essential activities carried out by the company (Annual report of Blackmores, 2013). The annual report contains full financial information and highlights the achievements of the company, which is important for the investors to witness. Further, the investors require crucial information regarding the future prospects and the courses of action that the company is going to take in the upcoming years. This information can be taken from the directors report contained in the annual report of the company. Therefore, the information and data contained in the financial statements assist the investors in taking prudent investment decision (Sander Haley, 2011). Further, the reservations and comments of the auditors on the financial statements of the company are also importan t for the investors, which can be taken from the auditors report contained in the annual report. Conclusion From the discussion in this report, it can be concluded that the investment decision should be made by thoroughly analyzing the financial performance of the company. In order to analyze the financial performance, the information can be extracted from the financial statements and the annual report. The annual report is the most important source of information for the potential investors. References Gibson, H.C. (2012). Financial reporting and analysis. Cengage Learning. Blackmore Limited. (2016). Worldwide company profile. Retrieved August 24, 2016 from https://listofcompanies.co.in/blackmores-limited/ Nikolai, L.A., Bazley, J.D., Jones, J.P. (2009). Intermediate accounting update. Cengage Learning. Weygandt, J.J., Kimmel, P.D., Kieso, D.E. (2009). Managerial accounting: tools for business decision making. John Wiley Sons. Rich, J., Jones, J., Mowen, M., Hansen, D. (2012). Cornerstones of Financial Accounting. Cengage Learning. Ehrhardt, M.C. Brigham, E.F. (2016). Corporate Finance: A Focused Approach. Cengage Learning. Grier, W.A. (2007). Credit Analysis of Financial Institutions. Euromoney Books. Sander, P.J. Haley, J. (2011). Value Investing For Dummies. John Wiley Sons. Annual Report of Blackmores. (2015). Retrieved August 23, 2016 from https://flipflashpages.uniflip.com/2/41140/355972/pub/document.pdf Annual Report of Blackmores. (2013). Retrieved August 23, 2016 from file:///C:/Users/Abasus%20Solution/Downloads/Blackmores%20Annual%20Report%202013.pdf