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.
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.
In addition to this, these change processes of globalization also bring threats for the new and existing businesses in the market.
Furthermore, this class helped me to identify the impact of globalization on business organization, societies and governments.
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.
This class helped me to identify that the change processes of globalization may bring challenges and difficulties for internationalization of the businesses.
However, on the other hand, I have found out that change may be advantageous for bringing new opportunities for the expansion of the businesses in global environment.