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Apply the Key Factors of Location for a Business Idea

question 10

Essay

Apply the key factors of location for a business idea. List which items are more important, and explain why they are important to your business success.


Definitions:

Representativeness Heuristic

A cognitive shortcut that involves judging the probability of an event by how much it resembles what we consider to be a typical example of that event.

Availability Heuristic

A quick-thinking process that depends on the first examples that pop into someone's head when they are considering a particular subject, idea, approach, or choice.

Relative Comparisons

The act of evaluating something in relation to another similar item.

Availability Heuristic

A cognitive shortcut that relies on the immediate examples that come to a person’s mind when evaluating a specific topic, concept, method or decision.

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