Location of Business

Created by

Matthew Hurst

Cards (47)

What is the main focus of today's lesson?
Factors affecting location for businesses
Why is location considered crucial for business success?
It can determine success or failure
What is the ideal location for minimizing production costs?
A location that minimizes costs and maximizes advantages
What is one factor that affects the choice of business location?
Cost and availability of land
What is the relationship between location and business advantages?
Location should maximize business advantages
Why might a business choose to operate from home?
To save on high rental costs
What is an example of a geographical setting affecting business location?
Urban vs. rural landscapes
Why should a tourism business avoid remote locations?
They need to attract tourists to succeed
How does market pull influence business location?
It attracts businesses to busy areas
What is market pull?
The attraction of the target market
Why is access to materials and supplies important for businesses?
It saves money on transportation costs
How has transportation evolution affected business location decisions?
It reduced the importance of proximity to materials
What is a key consideration for modern manufacturers regarding location?
Proximity to raw materials and suppliers
Why is access to infrastructure important for business location?
Poor infrastructure can hinder business operations
What can poor access to roads and ports lead to for a business?
Increased operational costs and inefficiencies
What is essential for businesses regarding telecommunications?
Access to reliable internet and phone services
How does poor internet service affect a business?
It can lead to poor customer experiences
What might happen if an internet cafe is located in an area with terrible internet service?
It will likely fail to attract customers
What is the significance of minimizing production costs for a business?
It enhances profitability and sustainability
How does geographical setting impact agricultural businesses?
It determines the suitability for farming
What is the relationship between market pull and competition?
High market pull increases competition for space
Why should a business consider access to roads and ports?
To ensure efficient transportation of goods
What is a consequence of poor infrastructure for a business?
Increased operational costs
Why is access to telecommunications crucial for modern businesses?
It supports communication and marketing efforts
What are two examples of telecommunications mentioned?
Internet and cell phones
Why is access to telecommunications crucial for businesses?
It serves as the backbone for operations
How does poor internet service affect an internet cafe?
It leads to a bad customer experience
What is a consequence of dropping cell phone signals for businesses?
It hampers communication efficiency
What is a key factor for e-commerce businesses regarding telecommunications?
Reliable internet access
Why is access to suitable labor important for businesses?
It ensures availability of skilled workers
Why is Silicon Valley significant for startups?
It has access to skilled graduates
How does location affect labor supply for businesses?
Proximity to colleges increases talent availability
What should businesses avoid when choosing a location for labor supply?
Low-income or slum areas
What utilities are essential for business operations?
Power and water supplies
Why is reliable access to water important for businesses?
It prevents service interruptions
What is a consequence of unreliable electricity for businesses?
Increased downtime and costs
Why is access to health facilities important for businesses?
It provides emergency support nearby
What type of businesses benefit from being near hospitals?
Cafes and restaurants
How can government regulations influence business location?
They dictate where certain businesses can operate
What might government assistance encourage in rural areas?
Establishment of new businesses