GK
BUSINESS MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Wage Rate
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Climate
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Community attitudes
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Availability of natural resources
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Detailed explanation-1: -While selecting a location for your business, some of the most important determinants include the nature and type of your business and its operational needs. You will need to introspect on the overall activities of your business, its various offerings, goals, objectives and more.
Detailed explanation-2: -Location plays a huge role in attracting and retaining the best employees, many of whom keep a close eye on where they’re based in order to optimize work-life balance. Good location decisions can significantly boost a company’s long-term performance. Poor ones can cost millions in lost talent, productivity and capital.
Detailed explanation-3: -Factors affecting location of industry depends on their nature of business. Such nature of business may be production, trade, service providers, size, money involved, seasonal/permanent etc.
Detailed explanation-4: -Accessibility. Does your business rely on frequent deliveries? Security. Competition. Business Rates. Skill base in the area. Potential for growth. 16-Oct-2017