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What strategy focuses on a company deciding where to locate its operations?

Question

What strategy focuses on a company deciding where to locate its operations?

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Solution

The strategy that focuses on a company deciding where to locate its operations is known as a "Location Strategy".

Here are the steps a company typically follows when implementing a location strategy:

  1. Identify the company's strategic objectives: This could be to reduce costs, access specific markets, or access skilled labor.

  2. Analyze the location factors: These factors could include labor availability and costs, proximity to customers and suppliers, infrastructure, and government policies.

  3. Gather data on alternative locations: This could involve conducting field trips, consulting with local governments, or hiring location consultants.

  4. Evaluate and select a location: Use quantitative methods (like factor rating, cost-profit-volume analysis) and qualitative factors (like personal preference of the management, quality of life) to evaluate potential locations.

  5. Implement the location decision: This involves acquiring the necessary permissions, constructing facilities, and moving resources.

  6. Review the location decision: After implementation, the company should review the decision to ensure it is meeting its strategic objectives.

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