Global Option Sets are sets of options that are available to be re-used. Most commonly they are used by Option Set fields so that different fields can share the same set of options which are maintained in one place. You will also see them used a parameters to requests in a manner similar to an enumeration.
You can then choose to call/use this option set from any entity. In this example I created a Sales area Option Set with the various sales areas, then I’m going to create a filed on the Account form and choose to call the Sales Area Option Set
I can see many areas where this would be quote useful, maybe a standard country drop-down etc.
Another nice feature of Microsoft Dynamics CRM 2011
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