how should you apply the knowledge about effective business communication and cultural diversity to your job?

You should apply it to any situation that requires negotiation of different viewpoints, to conflict resolution, to any task that requires team work and division of labor, etc.
It's all about balance. If you're working in a cross cultural setting, you should be sensible and reasonable enough to not force your value system onto your co-workers (they'll resent you and boicott you for it). I think the best thing to do when you're starting out is to keep your eyes and ears open, and learn the organization's culture to see how you fit into it.

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