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This helps the businesses to develop strategies for the successful penetration into the international markets.The lecturer has presented the concepts of change processes of globalization as well by which I figured out the changes due to globalization may bring risks for the businesses.
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.
Because any business can enter into any market, however this was concluded that a proper research of the market may assist the businesspersons for successful expansion or penetration of the businesses internationally.
Before attending this class, I did not have an idea that cultural differences are an important issue in business environment.
With the help of this class, I was able to understand the challenges and the opportunities faced by the businesses to operate globally.
It was demonstrated in the class, that the business considers global expansion in international market as an opportunity and the main focus of the business is to achieve sustainability and growth in the business by operating globally.
This class assisted me to derive that globalization bring out many opportunities as well as the threats for the businesses.
Threats imposed by globalization may include the cultural diversification issues as well as security issues.
The lecturer has mentioned the variations and challenges faced by the businesses for the global expansion by considering political, social, legal, economic and technological factors of the environment.
I was able to develop the understandings of several domains and levels of global business environment.