The state of competition never affects a firm's orientation.

Question

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The state of competition can have a significant impact on a firm's orientation. In a highly competitive market, a firm may need to focus on cost-cutting and efficiency to remain competitive, while in a less competitive market, a firm may be able to focus more on innovation and product differentiation. Additionally, the level of competition can influence a firm's pricing strategy, marketing tactics, and overall business strategy.

The State of Competition Never Affects a Firm's Orientation