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Location Decisions in Business Management

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Location Decisions in Business Management

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Questions and Answers

Why do location decisions arise?

Addition of new facilities

Depletion of basic inputs

Shift in markets

All of the above (correct)

Which of the following is NOT a reason for location decisions?

Growth in demand that cannot be satisfied by existing facilities

Depletion of basic inputs

Cost of doing business at a particular location

Political stability (correct)

What is the primary goal of the center of gravity method?

To minimize distribution costs

Which of the following is a key success factor for location decisions at the country level?

Availability of supplies Signup and view all the answers

What is a key difference between location decisions for goods-producing and service/retail/professional businesses?

Service businesses are more concerned with revenue, while goods-producing businesses focus on costs Signup and view all the answers

The load distance method helps evaluate candidate locations relative to demand points by measuring the total load-distance for each candidate.

True Signup and view all the answers

What is the main purpose of the transportation model?

To find the optimal amount of goods shipped from supply points to demand points Signup and view all the answers

What are the primary considerations when evaluating location alternatives using factor rating?

Identifying relevant factors, assigning weights based on importance, scoring location alternatives, and calculating weighted scores. Signup and view all the answers

Which of the following is NOT a step involved in the locational cost-volume-profit analysis?

Identifying demand points Signup and view all the answers

Which of the following techniques is best suited for solving multi-facility location problems?

Transportation model Signup and view all the answers

What are the key factors to consider when choosing a location for a service-oriented business?

Purchasing power of the customer base, service compatibility with local demographics, competition in the area, quality of the competition, uniqueness of the location, physical qualities, operating policies, and quality of management. Signup and view all the answers

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Description

Explore the critical aspects of location decisions in this quiz, covering methods like the center of gravity and load distance analysis. You'll also evaluate key success factors for goods-producing versus service-oriented businesses. Test your knowledge on evaluating location alternatives and the transportation model.