How has Globalization shaped Energy Systems in Emerging Economies and Essay

How has Globalization shaped Energy Systems in Emerging Economies and the Global South Illustrate your answer in reference to y - Essay Example History Though no consensus exists in the emergence of globalization, many historians, and social scientists have come up with different views of globalization history (Lule, 2012:22). Nevertheless, the majority of these scholars agree that globalization emerged during the first movement of people out of Africa into other parts of the world (Young and Kent, 2013:443). This is the case because the immigration caused interaction, exchange, and adaptation of customs, ideas, and products. The term globalization emerged in the 1960s, but it first appeared in the Merriam website dictionary in 1944.The term later became popular in the 1990s and the first article containing globalization content became published in 1983. Definition A general definition that befits globalization is that it is a process, which encompasses several aspects like route, origin, and outcomes of both intercultural and international combinations involving human and non-human activities. However, there still lies a he ated debate on the real definition of globalization. Diverse authors’ argue that globalization cannot undergo definitions; neither can it be encompassed within a set period simply because it is not a single concept. This means that globalization involves and encompasses vast aspects like economic incorporation, transmission of knowledge, inter-border transfer of policies, cultural stability, and discourse of power among many others. Therefore, globalization covers a multitude of disciplines, cultures and communities, which allows a range of viewpoints. This has resulted to various definitions from vast scholars who base their interpretation on the background of different disciplines. For instance, peter dicken argues on the economic perspective by claiming that globalization is an intricate and advanced form of internationalization that fosters a level of functional incorporation between internationally dispersed economic activities (Anderson, 2000:6-7). Other authors chip in and argue on cultural basis where he suggests that globalization is another image that influences cultural forms and patterns as well as drawing attention to the union of cultural styles as western forms of consumption that spreads all over the globe. Additionally, Amin and Thrift 1997, add up political definition by arguing that globalization is essentially about changes in the way the world performs its governance (Hennis, 2005:14). Another definition emerges from sociology whereby Robertson 1992 claims that globalization is a process where the constraints of geography on cultural and social arrangements withdraw, and that it's also a process where people become increasingly aware that they are withdrawing or receding (Robertson, 1992:10). Nevertheless, in spite of the vast globalization definitions offered by different authors, globalization is inherently geographical in its scope and impacts because it the physical expansion of the geographical domain of the globe, which means that it is an increase in scale and volume of global flows. How Globalization shaped Energy Systems in South Africa South African energy overview Before analyzing the impact of globalization in South Africa’s energy system, it is crucial to review the country's energy system. South Africa is among the largest and most developed countries in Africa. It also has

Be able to make financial decisions based on financial information Assignment

Be able to make financial decisions based on financial information - Assignment Example Competitors may have offered new products having more superior quality that attract more number of customers. Another reason may be that the company might have changed the product price that may, in turn, result in a variance in the unit sales volume. The direct material price variance (Â £7,500) is the variation between actual material cost (Â £22,500) and budgeted material cost (Â £ 15,000). Here, the material price variance shows an unfavorable trend, as the actual cost is higher than the material. The other reason for the price variance may be due to the non accessibility of cash discounts that are actually expected at the time of deciding the price standards and also may be due to changes in transportation costs, careless purchasing and changes in the material standard. The total direct labor variance is found by evaluating actual cost of direct labor to the budgeted direct labor cost. If the actual cost is in excess of the budgeted cost, the resultant variances become unfavorable. This may be due to the usage of more labor hours as there is shortage of adequate experienced labors in the concerned cutlery manufacturing. The other reasons are the higher payment of labor rate per hour. The sum of unfavorable direct labor variance (1,875) is the combination of adverse direct labor efficiency variance of (5,625) + adverse direct labor rate variance of 3,750. The adverse variance in the material usage amounting (Â £ 3,000) are due to the imperfect material, unnecessary waste of material, and stricter quality control. The labor rate variance has shown an adverse trend. This unfavorable variance is due to the increase in the wage rate of laborers. The labor efficiency rate is also showing an unfavorable trend of (Â £ 5,625). This is mainly due to the usage of poor quality material. The company lacks the supply of steel material of adequate quality. The other reason may be the lost of time over and above