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Definition

Pace of growth

 A firm’s pace of growth is the rate at which it is growing on an annual basis. Sometimes firms are forced into a high-growth mode sooner than they would like. For example, when a firm develops a product or service that satisfies a need for a many customers such that orders roll in very quickly, it must adjust quickly or risk faltering. On other instances, a firm experiences unexpected competition and must grow to maintain its market share.

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