Location is important to very life of business operations

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Reference no: EM132118519

Location, location, location is important to the very life of the business operations. When making decisions about where to locate, some considerations should include: how much and type of space needed, new space, expanding or reconfigure existing space, access to transportation (freight, trucking), supply chain connectivity, weather, zoning, labor market (specialized skills), cost of labor, global market opportunities, cost, local or regulatory requirements, restrictions, In today's market, many companies are moving operations oversees looking for cheaper labor. Advantages include expanding the business into untapped markets which increase the opportunity for growth and profit. The downside is that other countries often operate their business differently from the US - what are the legal requirements, how are financial activities recorded, taxes, culture, politics, import/export of materials & goods, tariffs, language barriers, double record keeping to convert from one set of requirements to another, conversion of currency, market volatility, ethics, technology, automation, energy/power sources, competition and more.

Reference no: EM132118519

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