Exam 14: Choosing the Right Location and Layout

A location that has housed several businesses that have failed within the past few years is likely to have a bad reputation and a negative image.

The Zip Code Atlas and Market Planner provides detailed information on sales, spendable income, etc., by census region, county, and city.

Knowing the type of labor a business needs and preparing job descriptions and job specifications in advance will help a business owner determine whether or not there is a good match with the available labor pool.

The U.S. Census department's "TIGER" file is a computerized map of the entire United States that gives entrepreneurs the power to pinpoint existing and potential customers.

The Index of Retail Saturation (IRS) is a measure of the potential sales per square foot of store space for a given product in a specific trading area.

The primary variable(s) that influence(s) the scope of a trading area is/are the ________.

The typical ________ is relatively small (contains from 3 to 12 stores) and serves a population that lives within a 10-minute drive.

Based on the above calculations, what is the entrepreneur's best option?

Typically located near affluent residential neighborhoods where their target customers live, ________ centers are designed to look less like shopping centers and malls and more like the busy streets in the central business districts that once existed in towns and cites.

The customer group that spends the most time in shopping malls is teenagers between the ages of 14 and 17.

When choosing a location, a small business owner should match the characteristics of the labor force her/his company requires with the characteristics of an area's available labor pool.

Locating close to ________ is critical for manufacturers, service providers and other companies that will be competitive.

A variance is a special exemption to a zoning ordinance.

Reilly's Law of Retail Gravity uses the analogy of gravity to estimate the attractiveness of a particular business to potential customers.

When choosing a state in which to locate, one must evaluate which of the following?

________ is a system that divides a county or city into small cells or districts to control the use of land, buildings, and sites.

Proximity to needed raw materials is critically important for a service firm.

A ________ combines the drawing strength of a large regional mall with the convenience of a neighborhood shopping center.

The first phase of determining where to locate a business is ________.

Identify and describe the goal/purpose of the three types of manufacturing layouts.