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Internal means factors or components within a business that can be controlled and external is the exact opposite. External factors, economy, competitors etc... Internal means something done from the inside and external means the opposite, something done from the outside.
External and Internal Metrics: I find it useful to distinguish external from internal metrics. For me, external metrics are those that others (e.g., sponsors, customers) use to assess the training department's value. Internal metrics are those we in training use to assure ourselves that we're doing the right things - measures which will serve as indicators of strong results to come on external metrics.