internalize
(verb)
To make something internal; to incorporate it in oneself.
Examples of internalize in the following topics:
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Functions of International Banks
- In the last 40 years, savers and borrowers have become linked through the international financial markets.
- Thus, the savers can channel their funds into the international financial markets, pursuing greater returns abroad.Finally, international corporations produce products in one country and ship them to another.
- An international bank operates in two or more countries.
- Unfortunately, international banks pose many problems for government regulators.
- Consequently, an international bank helps people and businesses engage in international trade and finance.
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Internal Energy
- The internal energy of a system is the sum of all kinetic and potential energy in a system.
- However, a system does contain a quantifiable amount of energy called the internal energy of a system.
- The equation describing the total internal energy of a system is then:
- The kinetic energy portion of internal energy gives rise to the temperature of the system.
- Express the internal energy in terms of kinetic and potential energy
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Equilibration
- Returning again to the example of Angie: hearing that she is indeed the baby in the picture causes her some internal conflict, or a state of disequilibration.
- She would first try to assimilate the information received from the external world into her existing internal cognitive structures.
- Either way, Angie must interpret and alter external reality to fit into her internal mental structures until a state of equilibrium is achieved.
- This internal attempt to make sense of external events according to one's internal events by achieving balance between assimilation and accommodation enables Angie to form new internal mental structures through which she will further evaluate her external world in the future.
- When external reality does not match with the logical internal mental structures (disequilibria), equilibration occurs as an effort to bring balance between assimilation and accommodation as the person adapts more sophisticated internal mental structures.
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The international marketing plan
- The challenge, then, of international marketing is to ensure that any international strategy has the discipline of thorough research, and an understanding and accurate evaluation of what is required to achieve the competitive advantage.
- As such, the decision sequence in international marketing (see Exhibit 26) is much larger than that of domestic markets.
- Thus, this stage is primarily concerned with the analysis of international markets.
- Conducting a situation analysis in an international setting is a bit more extensive.
- Undoubtedly, environmental factors have received the most attention from marketers considering international markets.
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Arbitration
- International arbitration is a leading method for resolving disputes arising from international commercial agreements and other international relationships.
- As with arbitration generally, international arbitration is a creature of contract.
- There are a number of reasons that parties elect to have their international disputes resolved through arbitration.
- These provisions of the New York Convention, together with the large number of contracting states, has created an international legal regime that significantly favors the enforcement of international arbitration agreements and awards.
- The resolution of disputes under international commercial contracts is widely conducted under the auspices of several major international institutions and rule making bodies.
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The stages of going international
- Earlier in our discussion on definitions, we identified several terms that relate to how committed a firm is to being international.
- Firms typically approach involvement in international marketing rather cautiously, and there appears to exist an underlying lifecycle that has a series of critical success factors that change as a firm moves through each stage.
- For small-and medium-sized firms in particular, exporting remains the most promising alternative to a full-blooded international marketing effort, since it appears to offer a degree of control over risk, cost, and resource commitment.
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Hegemony
- All nations, political institutions, businesses, and people operate under the international institutions.
- A hegemony is one country dominates other countries in international commerce.
- A hegemony is critical for free trade because international markets and institutions are public goods.
- The U.S. dollar became the international currency that the U.S. government abuses.
- International businesses, banks, and governments use U.S. dollars to settle international payments.
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The International Monetary Structure
- The international monetary structure involves international institutions, regional trading blocs, private players, and national governments.
- The most prominent international institutions are the International Monetary Fund (IMF) , the World Bank, and the World Trade Organization (WTO).
- Certain regional institutions also play a role in the structure of the international monetary system.
- NAFTA is also an example of the U.S.' s disproportionate power in determining the direction of the international monetary structure.
- Explain the role played by the United States over the history of the international monetary structure
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The Importance of Trade
- Second, technological advances have made international production and trade easier to coordinate.
- In particular, the Bretton Woods system of international monetary management has shaped the relationship between the world's major industrial states and has resulted in a much more integrated system of international exchange.
- Even in ancient times, people benefited from widespread international trade.
- The benefits from international trade have increased as costs decline and the international system becomes better integrated.
- Discuss the reasons of the U.S. increase in international trade participation after World War II
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Combining Internal and External Analyses
- Using combined external and internal analyses, companies are able to generate strategies in pursuit of competitive advantage.
- Organizations must carefully consider what internal assets will differentiate them from the competition, within the same competitive environment.
- This internal analysis requires careful consideration of the following models and factors:
- Context analysis considers the entire environment of a business, both internal and external.
- Apply a comprehensive understanding of internal and external analyses to the effective formation of new strategic initiatives