Section 5 - 5.4 location Flashcards

1
Q

Assisted areas (enterprise zones)

A

Are regions identified by the government to be suffering from relatively high unemployment and low incomes, so are in need of regeneration three financial

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2
Q

Bulk Increasing businesses

A

Are involved with products that increase weight during the production process, so need to be located near their customers in order to reduce costs

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3
Q

Bulk decreasing businesses

A

Are those that need to locate near the source of raw materials because they are heavier and hence more costly to transport than the final product

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4
Q

Clustering

A

Means that a business locates near other organizations that operate in similar or complementary markets

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5
Q

Footloose organization

A

Is a business that does not gain any cost reducing advantages from locating in a particular location hence the firm can locate in almost any location

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6
Q

Industrial inertia

A

Describes the reluctance to relocate due to the inconvenience of moving. Managers may feel that the potential inconvenience and cost of relocation outweighed the benefits

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7
Q

Infrastructure

A

Infrastructure Is the term used to describe the transportation, communication and support networks in a certain area

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8
Q

Insourcing

A

Is the use of organizations and people resources to accomplish a certain function or task otherwise have been outsourced

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9
Q

Location

A

Refers to the geographical position of a business the location is a crucial one, and depending on both quantitative and qualitative factors

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10
Q

Offshoring

A

Involves relocating business functions and processes overseas the offshore functions can remain within the business or outsource to an overseas organization

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11
Q

Outsourcing

A

Is the practice of transferring internal business activities to an external organization to reduce costs and increase productivity.

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