God has Ontological Existence Term Paper Example | Topics and Well Written Essays - 500 words

God has Ontological Existence - Term Paper Example The religious philosophers, over the centuries have tried to establish the existence of God and have come up with numerous arguments .Major arguments about His existence are Cosmological, Ontological, Teleological and the Moral Law Argument. The Cosmological Argument comes from the Greek word ‘cosmos’, which means the world. The Cosmological argument states that the universe could not have existed by its own, there must have been some cause that would have made the universe and that cause is God. The Teleological argument is from the word ‘teleo’ that means design or purpose. As the universe evidences great complexity of design, the great designer, the God must have designed it. The Moral law argument proposes that the moral Law and Order in this world is alive and exists because of God who has bestowed human beings with this understanding of morality. According to the Ontological Argument, the God is the greatest being, imaginable, one of the aspects of greatness and perfection is his existence or in other words as God can be conceived that means he exists. Twelfth century theologian and philosopher Anslem developed this argument about God’s existence. This argument proves about the existence of God through abstract reasoning. Descartes in his Meditation 3 proposes about the Ontological existence of God .His Meditation 3 questions about the existence of God and his analysis is devoid of any scientific proof and religious arguments.

The Structure of Chinese Language and Ontological Insights :: China Chinese Language Essays

The Structure of Chinese Language and Ontological Insights ABSTRACT: Through a comparative analysis of the Chinese language, this paper discusses how the structure and functions of a natural language would bear upon the ways in which some philosophical problems are posed and some ontological insights are shaped. By this case analysis, the aim of this paper is to contribute to the elucidation of the relation between language and philosophy in this regard. 1. Introduction Through a comparative case analysis regarding the Chinese language, this paper discusses how the structure and functions of a natural language would bear upon the ways in which some philosophical problems are posed and some ontological insights are shaped. In so doing, I suggest and argue for a mereological collective-noun hypothesis about the denotational semantics of Chinese nouns. By this case analysis, the paper aims to contribute to the elucidation of the relation between language and philosophy in this regard. My discussion begins with a puzzle: why the classical Platonic one-many problem in the Western philosophical tradition has not been consciously posed in the Chinese philosophical tradition and why, generally speaking, classical Chinese philosophers seem less interested in debating the relevant ontological issues. (1) One suspects that the structures and uses of different languages might play their roles in pushing philosophical theorization in different directions; the ways of speaking and writing of the Chinese language might reveal and reflect Chinese folk ideology and then influence the ways in which certain philosophical questions are posed and certain ontological insights are formed. This puzzle is significant because it is concerned with a fundamental philosophical question about the relation between thought and language. The problem of relating Chinese thought to the structure and functions of the Chinese language has for generations tantalized sinologists and those philosophers who are concerned with the problem. Nevertheless, in the last decade, some significant progress has been made in this regard. In his book Language and Logic in Ancient China, (2) Chad Hansen advances a novel and provocative theory about the nature of the classical Chinese language. (3) The central thesis of Hansen's theory is his mass-noun hypothesis. Its main ideas are these: (1) the (folk) semantics of Chinese nouns are like those of mass-nouns (i.e., those nouns referring to the so-called interpenetrating stuffs, like 'water' and 'snow'), and naming in Chinese is not grounded on the existence of, or roles for, abstract entities (either on

Executive Remuneration Analysis of Vodafone

Executive Remuneration Analysis of Vodafone 1. Introduction Executive remuneration is the compensation which company rewards for the executive directors. Since the early 1980s, executive payment increase rapidly. The unjustified increasing of executive remuneration pushes the reform of remuneration policy. The Cadbury code mentioned this problem in the Code of Practice in 1995. Cadbury gives some suggestions to companies about the executive remuneration policy.According to his suggestions, companies should dividend total payment into the basic salary and performance-based bonus, and the remuneration report should publish in the annual reporting every year [1]. In additional, UK government provides the vote right for shareholders to supervise the company’s executive remuneration, it also can force executive directors taking investors’ interest into account when they design the company strategy [2]. The analysis of big companies’ remuneration policy is more emphasi ze by investors and government, especially after the 2008 financial crisis.Investors are paying more attention to whether the executives deserve the high reward. Therefore, the analysis of executive remuneration is more necessary and valuable. Companies in FTSE 100 have the highest market capitalization in UK, and it means the analysis of FTSE 100 companies is most valuable. Vodafone Group, as one of the biggest company in the FTSE 100 companies, has business in almost 70 countries. And the market capitalization is nearly ? 90bn [3]. Last year, Vittorio Calao, the CEO? of Vodafone received around ? 0m for remuneration in fiscal year 2012, which is one of the highest remuneration in the FTSE 100 [4]. Although the executive rewards are higher than others in the FTSE 100, there still are 96. 12% shareholders voting in favour with the Vodafone’s remuneration policy [5]. This raises the question that why there are a huge amount of shareholders convincingly supports their highest r emuneration. This essay analyses the executive remuneration for Vodafone Group. Firstly, it will talk about the remuneration principle. Then the Remuneration Committee will be discussed.This part aims to measure whether the Remuneration Committee according to the UK Corporate Governance Code. The third part will explain the remuneration package of Vodafone Group, both base salary and various bonuses are included. At last, the essay will discuss the rationality of Vodafone’s executive remuneration from the perspectives of remuneration policy itself and the comparison with other companies. 2. Remuneration principle The aim of Vodafone’s executive remuneration is driving executives to achieve the company’s long-term strategic goals by offering an attractive and competitive reward [6].Vodafone wishes to make sure that their executive directors keeping in the highest level in work by providing an attractive payment. For example, a part of rewards are measured by the performance for this year. Therefore, executive directors were given an opportunity to achieve the truly exceptional performance. The remuneration package is determined by Remuneration Committee after Comprehensive consideration. The Remuneration Committee will choose some relevant group of comparators when setting total reward. It makes sure that the executive remuneration policies are considered on a total compensation basis.The comparators are choosing from some basic considerations, which are as follows: 1) top European companies, 2) top UK companies, 3) particularly for scarce skills, and 4) the relevant market in question [6]. These comparators mean that Europe is the major region for business for Vodafone, and the company is original from UK. According to above three principles, the external comparators are consisting by similar size companies, and the European top 25 companies and a few other select companies relevant to the sector.Additionally, the external comparator group do not including the financial companies, such as bank and insurance company. Another important Remuneration principle is that the rewards will related to the performance both long-term and short-term. According to the Annual Report of 2012, performance-based reward account for 70% in the whole remuneration package [6]. Vodafone build a link between executive directors and shareholders by this way, in order to force executive directors think about shareholders’ interest. 3. Remuneration CommitteeAccording to the UK Corporate Governance Code, the Remuneration Committee must include at least three independent non-executive directors [7]. The Remuneration Committee of Vodafone is consisting by independent non-executive directors and running independently in the company. The chairman of Remuneration Committee is Luc Vandevelde, and there are another five members in the Remuneration Committee. All of them are the non-executive directors in company. There also are two external adv isors: PricewaterhouseCoopers LLP (‘pwc’) and Towers Watson.Pwc is responsible for performance analysis and giving suggestions about company strategy and measuring the performance. It also supports the international business of Vodafone, such as tax, finance, compliance and operations. Another external advisor Towers Watson provides the market data of executive payment to Remuneration Committee. They also manage the pensions and benefit for Vodafone [6]. There are a lot of factors need to be considered by Remuneration Committee when deciding the payment package. Firstly, Remuneration Committee consults the CEO and HR directors’ opinion of the appropriate reward package for executives.Secondly, the external advisors give the Committee another perspective form the external information analysis. They can provide the benchmark of directors’ reward about other similar company on the market. Additionally, Committee also take the company’s strategy into ac count, both long-term and short-term are important. In fiscal year 2012, Remuneration Committee had five meetings to discuss the Short-Term Incentive bonus, Long-Term Incentive plan and basic salary in order to determine the total remuneration packages of the executive directors appropriately [6].Remuneration Committee particularly report four chief executive directors in the Directors’ Remuneration Report, including Chief Executive Vittotio Colao, Chief Financial Officer Andy Halford, Chief Technology Officer Stephen Pusey and Regional CEO Europe Michel Combes, and the reporting also include the reward of non-executive directors. 4. Remuneration package The Vodafone remuneration package is divided into five parts: base salary, Global Short-Term Incentive Plan (‘GSTIP’), Global Long-Term Incentive Plan (‘GLTI’) base awards, Global Long-Term Incentive Plan (‘GLTI’) co-investment matching awards and benefit [6].These parts reflect the remu neration policy of Vodafone which make the executives holing a lot of company shares to align the interest of executive directors and investors. It also obeys the UK Corporate Governance Code that keeping the reward in a level which is attractive and motivate to the directors, and designing the performance- related income based on long-term strategy. Base salary aims to attract and retain the best talents. It reflects the directors’ level of skill, experience and the responsibility in Vodafone. In fiscal year 2012, Committee decided the base salary stay at the same level with 2011[6].Global (‘GSTIP’) measure the performance in this financial year with the short- term financial and non- financial target, and the GSTIP is paid in cash in June 2013. The related performance is service revenue (25%), EBITDA (25%), adjusted free cash flow (20%) and competitive performance assessment (30%). This bonus can flow from 0-200% of base salary, and it reward 93. 4% of target f or financial year 2012[6]. Global Long-Term Incentive Plan (‘GLTI’) is consist of performance shares which award every year and vest three years later to force directors on the Vodafone’s long-term strategy.The vesting of performance shares is determined by the adjusted free cash flow and relative TSR performance. Both operational performance and external performance are included in the two measures in GLTI. The target GLTI face value of CEO is 137. 5% for basic salary, and 110% for other directors. In this year, executive directors was rewarded the vesting the shares of 2008 fiscal year at 30. 6% of maximum [6]. Global Long-Term Incentive Plan (‘GLTI’) co-investment matching awards means that executive directors can purchase Vodafone normal shares and turning them to performance shares after holding three years.Benefit is the pension scheme for the executive director and other benefit such as company car and private medical insurance. 5. Analysis of the director remuneration Figure 1 Total remuneration for 2012 (based on Vodafone 2012 Annual Report) The Figure 1 shows the detail of the total remuneration for fiscal year 2012 including a value for GLTI payment. Without the GLTI vesting during this year, Vodafone actually paid 30. 35m pounds to CEO Colao, 19. 27m pounds to CFO Halford, 21m pounds to Europe region CEO Combes, and 14. 08m pounds for CTO Pusey [6].The Figure 1 illustrates that all the four chief executive directors’ incomes are increasing except the CTO Pusey. Although the total rewards were general increased, GSTIP for fiscal year 2012 was decreasing. In the meanwhile, salary and cash in lieu of pension were keeping in the similar level with last year. Therefore, the increasing of total remuneration was due to the significant increasing of the item cash in lieu of GLTI dividends. During the fiscal year 2012, the Global Short-Term Incentive was deduct from last year. The total actual short term incentive pay ment was 93. %, while the target payment is 100% and the maximum payment is 200% for the basic salary [6]. According to the remuneration policy of Vodafone, GSTIP is influenced by the performance for this year. There are four indicates to measure the GSTIP: service revenue, EBITDA, adjusted free cash flow and competitive performance assessment. According to the 2012 annual report, the service revenue slightly increased to 46. 4bn pounds, which was just arrival the target performance [6]. However, the EBITAD and adjust free cash flow were cut down, especially the adjust free cash flow.Because of the loss of China Mobile Limited and the dividends of SFR, the actual pay-out percentage for adjust free cash flow is 8. 5, while the target performance is 20% in the whole GSTIP [6]. The policy of GSTIP is related to both the financial and non-financial performance in this year in order to measure the executive short-term performance in a rational way. The target performance is not only base d on the Vodafone’s strategy and past operation, but also taking the long-term strategy into account. Figure 2 Adjust free cash flow target and range for awards Based on Vodafone 2012 Annual Report) Figure 3 GLTI award for 2008 & 2009 (based on Vodafone 2012 Annual Report) Opposite the reducing of DSTIP, cash for Global Long-Term Incentive Plan is significant increase. The GLTI is determined by adjust free cash flow and the TSR outperformance of a peer group median. These two indicators consist a matrix in order to measure the internal operational performance and external performance. The long-term operation cycle is three years which means the target performance of financial year 2012 was settled in 2010.According to Figure 2, the target for 2012 is 18bn pounds, while the actual adjusted free cash flow for 2012 was 20. 9bn pounds [6]. Another important measure is the TSR performance. The figure 3 shows that Vodafone’s TSR was outperformance than the peer group which c onstitute by the similar size companies. The TSR performance increasing by 18. 5% in 2012, and exceed the target number. Therefore, the TSR performance for 2012 was paid by 100% of maximum to executive directors, while there is only 30% in 2011.Figure 4 Five year historical TSR performance (based on Vodafone 2012 Annual Report) Table 1 Comparison of Vodafone & BT Group (Base on [6] [8] [9] [10]) 201220112010 CEO Reward ?000Total Revenue ?bnCEO Reward ?000Total Revenue ?bnCEO Reward ?000Total Revenue ?bn Vodafone303546. 46282645. 88266844. 47 BT Group250518. 90235920. 1210520. 1 To compare with other similar size companies in UK, figure 4 reflects the Vodafone TSR performance compare with the average level of FSTE 100. From this figure, it indicates that Vodafone’s TSR performance is higher than the average level of FSTE 100.It means that the Vodafone Group is in a better operation situation among FSTE 100 companies. Therefore, it is reasonable that Vodafone’s executive remuneration is higher than the similar size companies. Additionally, the comparison in Table 1 is shown in similar result. BT Group is another strong competitor of Vodafone in UK telecommunication industry. The numbers in table 1 are published in the annual report for the two companies from 2010 to 2012. The total revenue of Vodafone is basically twice as much as BT Group, while the difference between the CEO remuneration is just around ? m in the three years. Through above analysis, Vodafone remuneration is in a rational level, and it is corresponding to its operation performance. 6. Conclusion All in all, Vodafone executive remuneration is acceptable and in a rational level. It not only reflects the operation performance but also obey the rules of UK Corporate Governance Code. The executive remuneration is setting by an independent remuneration committee which consist by five non-executive directors and two external advisors.The remuneration report is published by Remuneration C ommittee in Vodafone’s Annual Report. The remuneration package divide into base salary, Global Short-Term Incentive Plan (‘GSTIP’), Global Long-Term Incentive Plan (‘GLTI’) base awards, Global Long-Term Incentive Plan (‘GLTI’) co-investment matching awards and benefit. Through these five parts, executive reward is related to performance and the investor interest, and can help executives focusing on company’s strategy. Therefore, Vodafone executive remuneration can be seen as a good example in executive remuneration policy.

Selected Quotes From The Hobbit by J.R.R. Tolkien

The Hobbit is a book by J.R.R. Tolkien, a famous Oxford professor, essayist and writer, published in 1937. The story centers on Bilbo Baggins, a hobbit who is caught up in a grand adventure. Here are a few quotes from The Hobbit.   Adventure Baggins quest takes him from a quiet, rural life to more dangerous territory to try to win a share of a great treasure guarded by Smaug the dragon. Along the way, he meets, confronts and is helped by a cast of characters, both good and bad. I am looking for someone to share in an adventure that I am arranging, and its very difficult to find anyone.  - Chapter 1I should think so -- in these parts! We are plain quiet folk and have no use for adventures. Nasty disturbing uncomfortable things! Make you late for dinner!  - Chapter 1Also, I should like to know about risks, out-of-pocket expenses, time required and remuneration, and so forth -- by which he meant: What am I going to get out of it? and am I going to come back alive.  - Chapter 1There is nothing like looking, if you want to find something.  - Chapter 4 The Golden Treasure Baggins is trying to help  Thorin Oakenshield, the head of a band of dwarves. This group used to inhabit Lonely Mountain until Smaug the dragon pillaged the dwarvish kingdom, then ruled by Thorins grandfather, and took the treasure. Far over the misty mountains cold / To dungeons deep and caverns old / We must away ere break of day / To seek the pale enchanted gold.  - Chapter 1Some sang too that Thror and Thrain would come back one day and gold would flow in rivers, through the mountain-gates, and all that land would be filled with new song and new laughter. But this pleasant legend did not much affect their daily business.  - Chapter 10 The Ring Baggins is initially more of a hindrance than help on the quest until he finds a magical ring that allows him to become invisible. He guessed as well as he could, and crawled along for a good way, till suddenly his hand met what felt like a tiny ring of cold metal lying on the floor of the tunnel. It was a turning point in his career, but he did not know it. He put the ring in his pocket almost without thinking; certainly it did not seem of any particular use at the moment.  - Chapter 5 BilboBaggins Baggins lived a life of quiet—though sparse—comfort ​until he was called upon to start his quest. In a hole in the ground there lived a hobbit. Not a nasty, dirty, wet hole, filled with the ends of worms and an oozy smell, nor yet a dry, bare, sandy hole with nothing in it to sit down on or to eat: it was a hobbit-hole, and that means comfort. - Chapter 1​Chip the glasses and crack the plates! / Blunt the knives and bend the forks! / Thats what Bilbo Baggins hates.  - Chapter 1 Monstrous Characters Tolkien based many of the characters Baggins encounters on fairy tales such as Grimms fairy tales and Snow White. Trolls are slow in the uptake, and mighty suspicious about anything new to them.  - Chapter 2It does not do to leave a live dragon out of your calculations, if you live near him. Dragons may not have much real use for all their wealth, but they know it to an ounce as a rule, especially after long possession; and Smaug was no exception.  - Chapter 12