Session 8 Page 338

Session 8 Page 338 - Also, who would their potential...

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2. Which is the highest rated of the four European cities under consideration, using the table above? I found European City “A” to be the highest rated city. I found the answer by multiplying its Demographic factors by the importance of this factor (70 * 20% or 70 * .2 = 14). I did so with each European city: A, B, C, and D in order to make my final determination. 3. Why does Hard Rock put such serious effort into its location analysis? I know that strategy is crucial to economic development, including location analysis for several reasons. First, Hard Rock, as well as other businesses must make absolutely certain they are making the correct decision when choosing a location. The socio-economic region is extremely important to every business; for this reason, Hard Rock would not want to build in a location surrounded by senior citizens (I know that sounds terrible). A company needs to know the people who live and travel through the area are potential customers.
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Unformatted text preview: Also, who would their potential employees be? One of the first questions a company asks the Economic Development Spet is What is the graduation rate and average student GPA at the local high school and college? Companies need to know what kind of people are in the area and available to run their company. I am very familiar with companies that want to move to cities with citizens who do not want them. For instance, Corsicana, Texas was bringing in two power plants that would have accounted for brought in a stable tax base and an addition to the local workforce which was projected to be in excess of 200 percent of the prevailing average industrial wage in the Navarro region. Anyway, to make a very long paper a bit shorter, I know that cost , resources, and location are difficult to change; therefore, Hard Rock must make absolutely sure they make the right long-term decision correct the first time....
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