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The Selection of a Proper Site for a Business Facility

question 89

Essay

The selection of a proper site for a business facility is important in the production and operations management processes. Identify and discuss three factors that influence the selection of a site.


Definitions:

Competitive Strategy

A long-term plan developed by a company to gain a competitive advantage over its rivals in the industry.

Strategic Leadership

A style of leadership focused on setting long-term visions, creating sustainable competitive advantages, and guiding an organization through strategic changes.

Surplus

The situation in which the quantity supplied of a good exceeds the quantity demanded, often leading to a decrease in prices.

Shortage

A situation where the demand for a product exceeds the supply of that product, often leading to a temporary unavailability.

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