Year 11 Exam > Year 11 Notes > Business Studies for GCSE/IGCSE > Influences on the Choice of Production Location
Influences on the Choice of Production Location | Business Studies for GCSE/IGCSE - Year 11 PDF Download
Factors to Consider when Choosing a Country to Produce In
- A multinational company (MNC) is a business that has operations in more than one country.
- This can include physical stores, manufacturing plants, factories, offices, and service operations.
- Globalization means that many firms can now consider establishing production locations worldwide rather than just their home country.
Diagram: The Influences on Foreign Location Decisions
- When choosing a location in another country, a business will consider several factors.
Explanation of Factors Considered when Assessing a Country as a Business Location
The Role of Legal Controls on Production Location Decisions
- Laws are regulations established by a country's government to govern the behavior of its citizens and businesses.
- Regulation involves enforcing these laws and ensuring compliance, particularly by businesses.
- Governments and local authorities have the ability to encourage businesses to set up in specific areas.
- In regions facing high unemployment or industrial decline, businesses may be offered grants or tax breaks for job creation or community improvement.
- Conversely, certain factors can discourage businesses from locating in particular areas.
- For instance, areas of outstanding natural beauty may have strict regulations on permitted business activities.
- Similarly, countries with stringent environmental laws may not be appealing to manufacturing companies with high waste production.
- The presence or absence of laws influences businesses' location decisions in two primary ways:
- In Less Economically Developed Countries (LEDCs):
- These countries often have fewer laws and less stringent enforcement, which can attract some businesses.
- Lower costs result from fewer legal requirements, such as waste management standards, and the ability to pay low wages without minimum wage laws.
- Limited legal recourse for employees and customers may also be a factor.
- In More Economically Developed Countries (MEDCs):
- Developed economies with comprehensive legal frameworks can be attractive to businesses seeking:
- Good infrastructure.
- Highly skilled labor.
- High standards of living.
- In Less Economically Developed Countries (LEDCs):
Measures used by Local Government to Influence Location Decisions
Question for Influences on the Choice of Production LocationTry yourself: What factors can discourage businesses from locating in certain areas?View Solution
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FAQs on Influences on the Choice of Production Location - Business Studies for GCSE/IGCSE - Year 11
| 1. How do legal controls impact decisions on where to produce goods? |  |
Ans. Legal controls, such as labor laws, environmental regulations, and tax policies, play a significant role in determining where a company chooses to produce goods. Companies must consider these factors to ensure compliance and minimize risks associated with production location decisions.
| 2. What influences the choice of production location for companies? | |
Ans. Several factors influence the choice of production location for companies, including labor costs, infrastructure, proximity to suppliers and markets, political stability, and access to skilled labor. Companies must carefully evaluate these factors to determine the most suitable location for production.
| 3. How do labor costs impact decisions on where to produce goods? | |
Ans. Labor costs are a critical factor in production location decisions, as they directly impact the overall cost of production. Companies often choose locations with lower labor costs to reduce expenses and remain competitive in the market.
| 4. Why is proximity to suppliers and markets important in production location decisions? | |
Ans. Proximity to suppliers and markets is important in production location decisions because it can help reduce transportation costs, lead times, and risks associated with supply chain disruptions. Being close to suppliers and markets can also improve efficiency and responsiveness to customer demand.
| 5. How does political stability influence decisions on where to produce goods? | |
Ans. Political stability is crucial in production location decisions because it can impact business operations, investments, and overall business environment. Companies tend to prefer locations with stable political systems to minimize risks and ensure continuity in their production activities.
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Nov 22, 2024 Last updated |
Document Description: Influences on the Choice of Production Location for Year 11 2024 is part of Business Studies for GCSE/IGCSE preparation.
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