ENG 102 Module 3 SLP

Reasons Why Business Move to New Markets

The world has seen massive translocation of businesses from one geographical area to another operation area . Change of brands , products and services is also rising . There are several reasons as to why such trends have increased and they touch both small scale businesses and large multi-dollar companies

Availability of technology and infrastructure is a leading cause . Many companies are relocating to areas where there is easy accessibility of facilities such as electricity , banking institutions , labor , efficient transport and communication networks . Also , many companies start

in small facilities and as growth comes , so the need to expand which may call for relocation

Seeking customer satisfaction is another major basis for business change . An entrepreneur may move his business , change products or brands so as to fully satisfy the customers ' wants . However , the motivation is profit maximization as it attracts more consumers and creates customer loyalty

Availability of cheap labor has been cited as a major factor Outsourcing has become a major business practice as firms turn to others for research , customer care or even programming by other firms . However such level of business relations leads to competition and it ahs the potential of harming local economy as companies seek for cheap labor outside their countries creating unemployment in their own , may lead to low quality products as the mother company does is distant from their own production and manufacturing hence low control over it Nevertheless , it is a tool of economic growth as it...