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How can Dean Elford define “internationalization” for her college and more specifically, the School of Business?

How can Dean Elford define “internationalization” for her college and more specifically, the School of Business?

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How can Dean Elford define “internationalization” for her college and, more specifically, the School of Business?

Elford can define internationalization simply as people all over the world having the same needs for products and certain markets. With these needs, major companies like Coca-Cola, Microsoft, General Electric and Samsung have developed products that people enjoy. After undergoing major amounts of market research and assessing the potential of their markets over seas, these companies were able to broaden their markets and internationalize to foreign countries. Internationalization can be directly defined as “when a firm makes a strategic decision to enter foreign markets and adapts its operations to international environments by committing bot tangible and intangible assets, experiential knowledge, learning and human resources to this efforts”. Internationalization cannot only increase a firms profit, but also it can open up the possibility of the firm being able to diversify also into other markets and newer products.

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