Business location common mistakes

Common mistakes

• Location factors common mistake 1

  Giving a vague answer instead of directly addressing: Explain how proximity to the market can influence business location..

  Fix itAnswer by clearly explaining how to explain how proximity to the market can influence business location..

• Avoid confusing efficiency and productivity in Location factors

  A weak answer gives a generic point about location or treats efficiency and productivity as identical without applying the business scenario.

  Fix itUse the scenario first, then explain how location affects the business objective, financial outcome, and lenders. Make the final judgement depend on the specific context.

• Location factors common mistake 1

  Giving a vague answer instead of directly addressing: Explain how availability of raw materials and labour can influence business location..

  Fix itAnswer by clearly explaining how to explain how availability of raw materials and labour can influence business location..

• Avoid confusing revenue and profit in Location factors

  A weak answer gives a generic point about location / labour / raw materials or treats revenue and profit as identical without applying the business scenario.

  Fix itUse the scenario first, then explain how location / labour / raw materials affects the business objective, financial outcome, and employees. Make the final judgement depend on the specific context.

• Location factors common mistake 1

  Giving a vague answer instead of directly addressing: Explain how competition and costs can influence business location..

  Fix itAnswer by clearly explaining how to explain how competition and costs can influence business location..

• Avoid confusing margin and markup in Location factors

  A weak answer gives a generic point about location / costs / competition or treats margin and markup as identical without applying the business scenario.

  Fix itUse the scenario first, then explain how location / costs / competition affects the business objective, financial outcome, and owners. Make the final judgement depend on the specific context.