The provided code generates all possible permutations of the elements in the list `my_list` and then concatenates each permutation into a single string. Let's understand the code step by step:

1. `import itertools`: This line imports the `itertools` module, which provides various functions for efficient looping over iterables.

2. `my_list = ['a', 'b', 'c']`: This line defines a list called `my_list` containing three elements: 'a', 'b', and 'c'.

3. `permutations = list(itertools.permutations(my_list))`: Here, the `itertools.permutations` function generates all possible permutations of the elements in `my_list`, and `list()` is used to convert the iterator to a list. In this case, it will generate six permutations: ('a', 'b', 'c'), ('a', 'c', 'b'), ('b', 'a', 'c'), ('b', 'c', 'a'), ('c', 'a', 'b'), and ('c', 'b', 'a').

4. `result = ''`: Initializes an empty string called `result`, which will be used to store the concatenated permutations.

5. `for perm in permutations:`: This starts a loop that iterates through each permutation generated in step 3.

6. `result += ''.join(perm)`: For each permutation, the `join()` method is used to concatenate the elements in the tuple `perm` (representing a permutation) into a single string, and this string is added to the `result` string.

7. `print(result)`: Finally, the code prints the `result`, which will contain the concatenation of all permutations.

Given the six permutations mentioned earlier, the output of the code will be:

```

abcacbacbacbcab

```

This is the concatenation of all the elements in each permutation in the order they were generated.

` ````
import itertools
# Define the list of elements
my_list = ['a', 'b', 'c']
# Generate permutations of the list
permutations = list(itertools.permutations(my_list))
# Concatenate elements from each permutation into a string
result = ''
for perm in permutations:
result += ''.join(perm)
print(result)
```