1 At least five years of education, training and/or professional experience in coaching, human resources, leadership, organization development, or a related field. 2  Openness to feedback; capacity for self-examination; willingness to challenge one's own beliefs.
Definition of firm. 1 : the name or title under which a company transacts business. 2 : a partnership of two or more persons that is not recognized as a legal person distinct from the members composing it. 3 : a business unit or enterprise.
Under perfect competition, a firm is a price taker of its good since none of the firms can individually influence the price of the good to be purchased or sold. As the objective of each perfectly competitive firm, they choose each of their output levels to maximize their profits.