The name Yisroel יִשְׁרָּאֵל is also from the words of the Possuk: כִי שָּרִיתָּ עִם אֱלֹהִים וְׁעִם אֲנָּשִים וַתוּכָּל because you have wrestled with [an angel of] G-d and with men, and you have prevailed. That you shall rule (You shall be the master of the house) in HaShem and in men, etc, to conquer them and make them into a dwelling place for HaShem blessed be He.
However, even this matter is still not enough, because it is feasible that this Avodah could be focused on the four cubits of prayer or in Eretz Yisroel, and the ultimate purpose is to make this whole world into a dwelling place for HaShem, blessed be He.
This also explains the continuation of the Possuk where it is written: “וּמָּלְׁאוּ פְׁנֵי תֵבֵל תְׁנוּבָּה” - and fill the face of the earth like fruit”, for this concept is extended outwards to תֵבֵל ‘the whole world’, in a manner of וּמָּלְׁאוּ of ‘filling up’, and in a manner of תְׁנוּבָּה ‘Tenuvah’ and as is explained in Chassidic discourses that the letters of the word תְׁנוּבָּה are the same as the letters for the word בוּנָּהתְׁ, and refers to the supernal sphere of בִינָּה meaning understanding.
The word תְׁנוּבָּה is also made up of the letters תְׁנוּ בָּהּ ; an expression of giving, as the maxim כָּל הַנוֹתֵן בְׁעַיִן יָּפָּה הוּא נוֹתֵן “If someone already gives, he gives nicely”, which is the way in which the Divine Hamshocha comes into this world.
And we can connect all this with the beginning of the Parsha where it says: וְׁאֵלֶּה שְׁמוֹת בְׁנֵי יִשְׁרָּאֵל הַבָּאִים מִצְׁרָּיְׁמָּה - And these are the names of the B’nei Yisroel who came to Egypt. As is brought in the Medrash [that the sons of Yaakov] were called by names that refer to the redemption.