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What motivations typically cause firms to initiate a facilities location or relocation?
Wiki User
∙ 15y ago
• Positive reasons - Firms want to move closer to markets or sources of supply. - Cost reduction - A company needs an educated work force. (-> move near a major university) • Negative reasons - Firms relocate to avoid costly regulation or unionization.
Douglas Hodkiewicz
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What is a reason a business may choose to move its business overseas?
Expanding a business internationally offers many benefits when done properly. First of all, businesses and organizations that initiate global expansion often do so to gain a first-mover advantage. The move allows them to leave a saturated domestic market and find new customers in developing markets. Moreover, entering new markets gives businesses greater visibility. This allows their company to build strong brand awareness and a connection with local consumers. Even when their domestic competitors do enter the market, they have the advantage of having a more recognizable brand name. Also global expansions and a diversified market presence offer the company a way to mitigate long-term risks from the effects of a fluctuating local and global market. Triumphantly entering new markets overseas allows companies to decrease their dependency on their local market. Instead of feeling the brunt of one market’s highs and lows, companies can use the profitable operations of one market to offset the negative performance of another. Another reason why companies go global is so that they can take advantage of foreign markets to introduce unique products and services based on local palates. A poorly performing product in domestic markets may also be offset by introducing it in another country where customer preferences indicate a better reception.
What are the classification of entrepreneurship in food service?
Classification of Entrepreneurs:Classification of Entrepreneurs Based on Functional Characteristics. Based on Developmental Angle. Based on Types of Entrepreneurial Business. Based on the nine Personality Types of Entrepreneurs. Based on Types of Motivation. Based on Types of Area. Based on Types of Gender.Based on Functional Characteristics:Based on Functional Characteristics Innovating Entrepreneur : One who introduces new goods, inaugurates new methods of production, discovers new market and reorganizes the enterprise. Imitative Entrepreneur : One who is ready to adopt successful innovations inaugurated by innovating entrepreneurs. Fabian Entrepreneur : One who is very cautious and skeptical about experimenting any change in the enterprise. Drone Entrepreneur : One who refuses to adopt opportunities to make changes in production even at the cost of severely reduced returns. Based on Developmental Angle:Based on Developmental Angle Prime Mover: this entrepreneur sets in motion a powerful sequence of development, expansion, and diversification of business. Manager: Such an entrepreneur does not initiate expansion and is content just staying in business. Minor innovator: this entrepreneur contributes to economic progress by finding better use for existing resources. Satellite: This entrepreneur assumes a supplier's role and slowly moves towards a productive enterprise. Local trading: Such an entrepreneur limits his enterprise to the local market. Based on Types of Entrepreneurial Business:Based on Types of Entrepreneurial Business Manufacturing: an entrepreneur who runs such a business actually produces the products that can be sold using resources and supplies. Wholesaling: An entrepreneur with such a business sells products to the middle man. Retailing: An entrepreneur with such a business sells products directly to the people who use or consume them. Service: An entrepreneur in this business sells services rather than products. Based on the nine Personality Types of Entrepreneurs:Based on the nine Personality Types of Entrepreneurs The Improver: if you operate your business predominately in the improver mode, you are focused on using your company as means to improve the world. The Advisor: This business personality type will provide an extremely high level of assistance and advice to customers. The Superstar: Here the business is centered on the charisma and high energy of the superstar CEO. The Artist: This business personality is the reserved but a highly creative type. As an artist type you'll tend to build your business around the unique talents and creativities that you have. Based on the nine Personality Types of Entrepreneurs The Visionary: A business built by a visionary will often be based on the future vision and thoughts of the founder. The Analyst: if you run a business as an Analyst, your company focus in on fixing problems in a systematic way. Often the basis for science, engineering or computer firms, analyst companies excel at problem solving. The Fireball: A business owned and operated by a fireball is full of life, energy and optimism.Based on the nine Personality Types of Entrepreneurs The Hero: You have an incredible will and ability to lead the world and your business through any challenge. The Healer: If you are a healer, you provide nurturing and harmony to your business. You have an uncanny ability to survive and persist with an inner calm.Based on Types of Motivation:Based on Types of Motivation Pure Entrepreneur : Individual who is motivated by psychological and economic rewards. The basic objective is to earn profit. Induced Entrepreneur : One who is induced to take up entrepreneurship due to government assistance, rewards, concessions etc. Motivated Entrepreneur : Motivated by the desire for self-fulfillment & self-actualization. Spontaneous Entrepreneur : These entrepreneurs start business by their natural talent. Based on Types of Area Urban Entrepreneur : One who has his industrial unit in urban area and has engaged workers from that area. Rural Entrepreneur : One who has its industrial set up in rural area and has engaged workers from the same area.Based on Types of Gender:Based on Types of Gender Male Entrepreneur. Women Entrepreneur.
Characteristics of business?
my need to note on characteristics of business.Charactaristics of business:1) Entreprenure2 deals in goods and services3 involve production or exchange of goods4 series of deals5 desire to earn profit6 involves element of risks7 creation of utilitiesetc.Characteristics of Business?According to L.H. Haney, "Business may be defined as human activities directed towards providing or acquiring wealth through buying and selling goods". This definition includes activities relating to the production of goods. A vital omission is 'services'. Business includes rendering of services also. The main characteristics of business are;1. Entrepreneur:- There must be someone to take initiate for establishing a business. The person who recognises the need for a product or service is known as entrepreneur. The entrepreneur is a key figure in the process of economic growth. The quality of entrepreneurship exiting in any region determines to a large growth. The quality of entrepreneurship existing in any region determines to a large extent the development of that region. The entrepreneur visualizes a business, combines various factors of production and puts them into a going concern.2. Economic Activities:- A Business includes only economic activities. All those activities relating to the production and distribution of goods and services are called economic activities. These activities are under-taken with economic motive. Business is carried on with a profit motive. Any activity undertaken without economic consideration will not be a part business. So, business covers only economic activities.3. Exchange of Goods and Services: A business must involve exchange of goods and services. The goods to be exchanged my either be produced or procured from other sources. The exchange of goods and services is undertaken with profit motive. Production or purchasing of goods and services for personal consumption do not constitute business. The purchase of goods by a retailer constitutes business while the purchase of goods by a consumer is not business. The purchase of goods should be to sell them again. The same principle is applicable to services. If a person cooks his food at home it is not business, but if the same person cook at a restaurant, it is business, because he exchange his services for money.4. Profit Motive:- The profit motive is an important element of business. Any activity undertaken without profit motive is not business. A businessman tries to earn more and more profits out of his business activities. The incentive for earning profits keeps a person in business and is also necessary for the continuity of the business. This does not mean that there will not be losses in business. The object of starting a business is to earn profit through there may be losses. The profit motive does not entitle a businessman to start exploiting the consumers. The responsibility of business towards society restricts a businessman from earning exorbitant profit. The business activity will flourish more when the business serves the society.5. Risk and Uncertainty:- The business involves larger element of risk and uncertainty. In fact a business tries to foresee any future uncertainties and plan his business activities accordingly. The factors on which business depends are never certain, so the business opportunities will also be uncertain. These may be shift in demand, strike by employees, floods, war, fall in prices, fluctuations in money market etc. If a businessman is able to foresee uncertainties and is able to bear them then he will successful, otherwise he may be forced out of business. The risk element in business keeps a person vigilant and he tries to ward off his risk by executing his policies properly.6. Continuity of Transactions:- In business, only those transactions are included which have regularity and continuity. An isolated transaction will not be called business, even if the person earns from that deal. A person builds a house for himself, but later on sells it on profit. We will not sell them, this will be called business. So the transactions should have continuity and regularity, otherwise they will not be a part of business.7. Creation of Utility:- The goods are provided to the consumers s per their linkings and requirements. Business crates various types of utilities ion goods so that consumers may use them. The utility may be form utility, place utility, time utility etc. When raw materials are converted into finished goods, it creates from utility. The goods are transported from the places of production to the ultimate consumers; it creates place utility. In the present industrial world, production is not done only for the present but it is undertaken for the future also. The process of storing goods when they are not required and supplying them at a time when they are needed is called creation of time utility. So the business creates many utilities in goods so that the consumers may use them according to their preferences and needs.8. Organisation:- Every enterprise need an organisation for its successful working. Various business activities are divided into departments, sections, and jobs. An organisation creates the framework for managerial performance and helps in coordinating various business activities. A proper oganisation is helpful in the smooth running of the business and helps to achieve its objectives.9. Financing:- Business enterprises cannot move a step without finance. The finances are required for providing fixed and working capital. The availability of other factors of production also depends upon the availability of finances. After estimating its financial requirements, the businessman tries to find out the sources from which these requirements will be met. A proper capital structure is must for the success of the business.10. Consumer Satisfaction:- The utilities of business is to supply goods to the consumers. The foods are produced for the consumers. If the consumer is satisfied, then he will purchase the same thing again, otherwise he will for in for an alternative commodity. The business should try to satisfy the consumer so that the demand for his products is maintained. The existence and expansion of business depends upon the liking of the consumers for the products of that business. The businessman should try to produce goods according to the linkings and tastes of consumers. The commodities should be made available when they are needed. Business and consumers exist for each other.11. Satisfying Social Need:- The business should aim at serving the society at large. The business is a socio-economic institution. It must look to the public good. A great emphasis is laid, now-a-days, on the social aspect of business and social obligations of business. It is not only the public which needs business but business also needs public support. S business must serve public purpose.pradeepkalari (pradeep sp)
Imagine yourself as anew businessman what are the objectives of business that you will keep in mind if you have to launch a new business?
Q: Imagine yourself as a new businessman what are the objectives of business that you will keep in mind if you have to launch a new business? When a sole trader sets up they may have some unstated aims or objectives - for example to survive for the first year. Other businesses may wish to state exactly what they are aiming to do, such as Amazon, the Internet CD and bookseller, who wants to "make history and have fun". An aim is where the business wants to go in the future, its goals. It is a statement of purpose, e.g. we want to grow the business into Europe. Business objectives are the stated, measurable targets of how to achieve business aims. For instance, we want to achieve sales of €10 million in European markets in 2004. A mission statementsets out the business vision and values that enables employees, managers, customers and even suppliers to understand the underlying basis for the actions of the business. Business ObjectivesObjectives give the business a clearly defined target. Plans can then be made to achieve these targets. This can motivate the employees. It also enables the business to measure the progress towards to its stated aims. The most effective business objectives meet the following criteria: S - Specific - objectives are aimed at what the business does, e.g. a hotel might have an objective of filling 60% of its beds a night during October, an objective specific to that business. M - Measurable - the business can put a value to the objective, e.g. €10,000 in sales in the next half year of trading. A - Agreed by all those concerned in trying to achieve the objective. R - Realistic- the objective should be challenging, but it should also be able to be achieved by the resources available. T- Time specific- they have a time limit of when the objective should be achieved, e.g. by the end of the year. The main objectives that a business might have are: Survival - a short term objective, probably for small business just starting out, or when a new firm enters the market or at a time of crisis. Profit maximisation - try to make the most profit possible - most like to be the aim of the owners and shareholders. Profit satisfying - try to make enough profit to keep the owners comfortable - probably the aim of smaller businesses whose owners do not want to work longer hours. Sales growth - where the business tries to make as many sales as possible. This may be because the managers believe that the survival of the business depends on being large. Large businesses can also benefit from economies of scale. A business may find that some of their objectives conflict with one and other: Growth versus profit: for example, achieving higher sales in the short term (e.g. by cutting prices) will reduce short-term profit. Short-term versus long-term: for example, a business may decide to accept lower cash flows in the short-term whilst it invests heavily in new products or plant and equipment. Large investors in the Stock Exchange are often accused of looking too much at short-term objectives and company performance rather than investing in a business for the long-term. Alternative Aims and ObjectivesNot all businesses seek profit or growth. Some organisations have alternative objectives. Examples of other objectives: Ethical and socially responsible objectives - organisations like the Co-op or the Body Shop have objectives which are based on their beliefs on how one should treat the environment and people who are less fortunate. Public sector corporations are run to not only generate a profit but provide a service to the public. This service will need to meet the needs of the less well off in society or help improve the ability of the economy to function: e.g. cheap and accessible transport service. Public sectororganisations that monitor or control private sector activities have objectives that are to ensure that the business they are monitoring comply with the laws laid down. Health care and education establishments - their objectives are to provide a service - most private schools for instance have charitable status. Their aim is the enhancement of their pupils through education. Charities and voluntary organisations - their aims and objectives are led by the beliefs they stand for. Changing Objectives A business may change its objectives over time due to the following reasons: A business may achieve an objective and will need to move onto another one (e.g. survival in the first year may lead to an objective of increasing profit in the second year). The competitive environment might change, with the launch of new products from competitors. Technology might change product designs, so sales and production targets might need to change. Ø My personal objectives are:- 1. Provide a benefit. A new business stands a greater chance at success if it is responding to a need of a consumer. Your potential customers will buy your products or service if they see that it provides some benefits to them. You must be able to respond to their "what is it for me" question. As a new business owner, your main task is to understand the difference between the features of your business and the benefits it provides. For example, if you are in the business of selling baby gift boxes, the feature and benefits are: Feature: Baby toys, books, CDs and videos not found in department stores Benefit: The customer will be able to conveniently find in one location the baby gift items she or he wants. Remember, customers buy on the basis of the benefits, and not the features of your products. This is what you are going to use as your main selling proposition, or what you will highlight to convince people to buy your products and services. By understanding the business and its benefit to consumers, entrepreneurs can differentiate their business and create niches in the market where they can enter and survive long enough to build 2. Determine the fit with your market. Before you can start marketing your new business, you first need to determine your target market. That's right: not everyone is your customer. Some people erroneously think that they should sell to everybody, and that targeting will limit the scope of their pool of potential customers. Wrong! The purpose of defining your market is to make your life easier and increase the effectiveness of your promotional activities. You can't strike anywhere: you need to focus your energy and money. To identify your market, you need to look at your market data and personality attributes of those whom you think would most likely buy your products. Aside from the demographics of your potential customers (age, gender, income level, geographic location, etc.), you also need to determine lifestyle factors. Are there any special interest activities that they belong to? Are there any social factors and cultural involvement that govern your customers? How do you think your market will use your products or services? 3. Right timing is everything. Some new businesses are way ahead of their times. You may have a brilliant idea, but if the market is not ready for your products, the venture will fall by the wayside. If you have a product that is so new in the market, be prepared to take on the cost of informing the buyers. Since they are not familiar with your products, show them how it will benefit their lives and demonstrate how they can use it. Infomercials, while costly, are very good vehicles for very new products. 4. Be ready to support your business. One business reality is that you need money to earn more money. You need resources to allow you to buy equipment, supplies, procure or manufacture products, package your products well and market it. Will your existing capital allow you to buy all the assets that you need in your business? How are you going to finance your inventory? If you are starting an online business, do you have the resources to create your site and pay for its upkeep? If your business does not show a profit within the year, do you have the money to support yourself? When starting a new business, you need to consider three major expenses and plan for them accordingly: your living expenses, direct costs and overhead. Living expenses is the "salary" you must produce to support yourself and your family. Direct costs include supplies, materials, and others that you need to produce your product or deliver your service. Overhead is the cost of running a business, and it covers marketing, utilities, office furniture and equipment. Sure, you can start a business even with little cash, but you need to be extremely creative in stretching your money and be prepared to compromise the growth of your business. You will have no choice except to build your business gradually. However, having money is not enough to assure success. The dot-com woes, especially, showed that you can burn millions and millions of dollars only to end up a failure. Digital Convergence, for example, got $250 million of funding for investors to distribute Cue Cats barcode readers for free yet laid-off most of their staffs after their business model showed to be unsustainable. The key is to use whatever money you have-- smartly. 5. Develop a blueprint for success. You cannot go into a business unprepared. It is important to have a plan. Think of going to business like going to war: you need to develop strategies to help you overcome your enemies. Without thinking through what you want to achieve and how to get there, you are a sitting duck waiting to be clobbered. Starting a new business entails a thorough and objective analysis of both your personal abilities and the business requirements. You need to have a clear strategy for marketing and the production aspects of your business. If you are a retail store, you need to have a plan in terms of procurement and sourcing. For all the excitement of a new business, you need to know where and how you will get the funds to finance your business. Do you have the available resources to make this business a success? And a million other details. A business plan is essential. Even if you do not want to write it all down (especially if you do not have investors), the process of preparing a business plan allows you to think through of every aspect of your business. It makes you think about the viability of your business and helps you avoid costly mistakes. When starting a business, you base your projected performance on a set of assumptions. If you have a plan, you will be able to test your planning assumptions and create fall-back measures in the event that real life proves to be vastly different from your initial visions. If you think through your business well, you can discover problem areas early on and initiate efforts to correct the problem. Remember, the business owner with a realistic plan has the best chances for success. 6. Market, market, market. In this world dominated by hype, you must be prepared to publicize the business or its chance for success will be slim. Unless you are a nationally known name with built-in clientele or your business is located in a prime location, you need to promote customer awareness for your business. If you're on the Web, you cannot expect to just sit in a corner and expect people to stumble on your site. Your marketing plan should revolve around three goals. The first is to inform customers what you have. You can do this by letting customers know what you have for sale, either through press releases for possible publication in print and TV media, brochures for your customers and leaflets distributed in your neighborhood. The second goal is to persuade potential customers to do what you want them to do - buy from you. If you're in e-business, you do this by writing a very good sales copy on your site including testimonials from satisfied clients. If you have sales representatives, they could do the persuading in your behalf. The third function of marketing your business is to remind existing customers to come and buy again. If you are a Web marketer, you do this by sending a regular product updates, special offers and promos to customers' emails. As a smart marketer, you know that you need to hold on to your existing customer base as it is much harder (and more expensive) to get a new customer than to sell to someone who already knows your product and the quality of your customer service. --------------------
What motivations typically cause firms to initiate a facilities location or relocation project?
• Positive reasons - Firms want to move closer to markets or sources of supply. - Cost reduction - A company needs an educated work force. (-> move near a major university) • Negative reasons - Firms relocate to avoid costly regulation or unionization.
What body system typically initiate homeostatic responses?
what two processes makes up metabolism
Can you give a sentence with the word initiate?
The council is prepared to initiate our latest initiate. "Initiate sequence!", shouted the Mission Commander.
Initiate is to begin as to terminate is to what?
To initiate is to begin as to terminate is to end.
Can you give me a sentence for the word initiate?
The DA decided to initiate an investigation.
Can you put initiate in a sentence?
I initiated a conversation. (Initiate means to start.)
How you contact or initiate communications with customers?
how do you contact or initiate communications with customers?
How do you use the word initiate in?
He has a crush on her, but he's too shy to initiate a conversation. The girl scouts have a ceremony to initiate new troop members.
When was Initiate's Trial created?
Initiate's Trial was created on 2011-10-27.
Which house of congress has the right to initiate legislation?
Either house can initiate most legislation, but only the House of Representatives can initiate legislation for generating revenue.
What do you do if your partner wont initiate sexual activity?
take their clothes off and initiate it yourself..
What are the cells called that initiate sperm cell production?
The spermatogonia are the cells that initiate spermatozoa
