Lecture Synthesis Coursework Example | Topics and Well Written Essays - 500 words

Lecture Synthesis - Coursework Example This understanding is the central focus of the lecture. Managers in the global environment have to understand the diversity that characterizes both domestic and international markets. The lecture provides relevant information that allows managers and employees in the global environment to understand why business settings vary from one country to another. At a personal level, the lecture is important is important because it brings together different concepts that aid in the understanding of global business operations. For example, the lecture presents cultural differences as a critical factor in business. Cultural variations may not seem that important, but a business enterprise that fails to acknowledge cultural diversity faces a key operational challenge across the globe. In addition, the lecture sheds important insights about entrepreneurship. Entrepreneurship and global economic progress are essentially intertwined, this highlights resonates with my personal drive, goal, and desire to own and operate a successful international enterprise. In this respect, this lecture focuses on central ideas and concepts that I find relevant and informative at a personal level. Additionally, the lecture outlines how the global business environment functions. From the operations of World Trade Organization to the actualization of agreements that promote free trade in America and beyond, such information shows just how complex yet successful global business has become. By understanding global business environment, I find it easy to comprehend the diversity and dynamism of the global political economy. As the lecture maintains, understanding the global environment is critical to the success of today’s management practices. Managing in a global environment is both interesting and challenging. For example, minimum wage continues to elicit mixed reactions in North America today. While some business enterprises in America support the move to increase minimum