Final answer:
A polycentric orientation in a firm's structure means that foreign subsidiaries operate independently with limited coordination with the headquarters, often managed by local nationals for better local responsiveness.
Step-by-step explanation:
A firm with a polycentric orientation is characterized by a decentralized structure where each of the firm's foreign offices or subsidiaries operates somewhat independently and is usually managed by local nationals who are thought to understand the local environment better. These subsidiaries engage in minimal coordination with the headquarters, as decision-making authority is largely delegated to them. This is in contrast to ethnocentric, regiocentric, or geocentric orientations, which vary in how centralized operations are and the extent to which domestic or global standards are implemented.