5.4 - Location Flashcards
(7 cards)
1
Q
what is location
A
the geographical place where a business operates
2
Q
what are quantitative factors that help decide the location of a business
A
- cost
- governmental policies
- distance to target market and inputs
- exchange rates
3
Q
what are qualitative factors that help decide the location of a business
A
- ethical reasons
- demographic factors
- impact on brand image
- political/legal factors
4
Q
what is outsourcing
A
when a business hires external individuals or a company of the business to complete or support a part of their operations
5
Q
what is offshoring
A
the transferring of a part of a business to a foreign country
6
Q
what is reshoring
A
when a business brings back a part of a business that was sent to a foreign country back to the home country
7
Q
what is insourcing
A
When a business brings back a part of a business operation which previously functioned externally of the business
* the opposite of outsourcing
