HOW TO SELECT A BUSINESS LOCATION Student’s Name Institutional Affiliations How to select a business location Location of a business is the geographical place in which a business decides to carry out its operations. It is one of the most important factors to consider while setting up a business because it greatly affects the expenses of a business and also its returns. Some of the factors that are considered when choosing the right location for business are: the accessibility of the business by customers accessibility of resources and accessibility support services required by the business. Also the start-up cost of the premises is considered the security of the area the proximity of competitors and found close to the white line in the middle. This is because these customers have the freedom to go to any vendor because the proximity of the two businesses to them is equal. In conclusion the importance of a business location cannot be emphasized enough. Therefore any business has to make sure that it clearly looks at the factors affecting the location of a business if it is to succeed such as in the scenario above. References Fleisher C. S. & Bensoussan B. E. (2015). Business and competitive analysis: Effective application of new and classic methods. Upper Saddle River NJ: Pearson Education. Goswami S. (2012). The Business of Location. Indoor Location Technologies 105-114. doi:10.1007/978-1-4614-1377-6_7 [...]
***PLEASE READ THE INSTRUCTIONS*** Scenario Two vendors, Ms. Bud and Ms. Weiser, operate on a beach. They are required to charge the same price, but they can choose where to locate themselves on the beach. Their customers, sunbathers, do not like to be near each other, so they are spread evenly along the beach. Sunbathers are also averse to walking, so they purchase one can of beer from the vendor closest to them. Where on the beach will the vendors, seeking large sales, locate themselves? Hint: If one vendor, say, Ms. Bud, had already chosen her location, where should her rival, Ms. Weiser, place herself? You might find it helpful to draw or sketch a picture of the beach or picture the beach setting in your mind. Who are the customers these two vendors are actually competing for? All the customers on the beach? The ones on their left/right? Only the ones between these two vendor locations? Directions Analyze the given situation (the scenario) from both vendor's perspective, and present either one solution or compare several possible solutions in your written answer. The logic of this game is quite subtle. Both players, calculating their best actions, must simultaneously conjecture what their rival is going to decide to do. The puzzles that the location game might resolve in business life include the following: Why do gas stations often cluster together? Why do different airlines flying a given route schedule simultaneous departures? Why do New York City street peddlers of watches and radios cluster on the same blocks? Why do competing television networks target their programs at bland, middle-of-the-road tastes? Submission Your submission should not exceed 1000 words excluding the title page, possible table of contents, references, and appendices. The submission is expected to follow an essay-style but you may also include drawing(s) and other forms of presentation in your paper. You are expected to link your analysis to course readings and additional research, meaning a current APA style and in-text citations must be used.