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The lecturer demonstrated that before entering into the global market, it is necessary to conduct a research of the organizations and businesses which are providing the same products and services.I was able to identify the tools used for the analysis of the industries and concluded that Porter’s Five Forces model is best suited for this industrial analysis.This class assisted me to derive that globalization bring out many opportunities as well as the threats for the businesses.
I further derived that the globalization has made the business environment more prone to incorporate strategies of international management.
The class helped me to understand the layers of global business environments as well which is composed of macro-environment, industry, competitors associated with the business.
I figured out that the macro-environment is composed of several environmental factors which significantly impact the global performance of a business.
Those factors include the political, legal, economic, environmental, technological and social, accumulated together affects the health of the business in international market.
I was able to understand the concepts of PESTLE and STEEP analysis and the class has helped be to implement the tool in this assignment.
The class helped me to update my knowledge in the areas of international management positions and strategies used by the businesses for the expansion in the global environment.For example, this class helped me to understand the fact that governments impose some rules and regulations in the business sector to convey environmental and social aims.However, I figured out that the government of a country may violate those regulations and shrink the number of resources that may help in generating revenues for the businesses.I found the class very motivating and informative and I personally believe that I have built a vast understanding of the concept of Global Business Environment and the effect of globalization on business environment.I have found that my knowledge about GBE has significantly augmented by attending the class.These cross-cultural concepts were addressed during the lecture and then I figured out that the cultures present globally play significant role in business environments as well as the governments.This class also helped me in identifying that global business environment is also associated with the ethical issues.I have figured out that the global practice of businesses has become very much complex by the effect of globalization.Moreover, this class helped me in the identification and implementation of several macro-environmental analysis tools for the analysis of the business environment in global perspective.I was further able to identify the key strategies and implementations which can be used by the businessmen for the globalization of their businesses keeping in mind those macro-environmental factors.I have identified that the next layer associated with the global business environment is the industry.