... human production; the factor of production that is a measure of the work done by people. Labor may be referred to as human capital but that term applies to skills rather than actual work. The meaning of the word includes both active and inactive workers, with the latter referring to those who are available to work, in terms of labor-related definitions (below). Classical economics recognizes labor, land and capital as factors of productionthis glossary's definition of human resources offers additional information related to labor. As one of four informational elements that the typical economic development prospect wants addressed in a location package, labor is lumped in with demographics for the sake of simplicity in An Introduction to the Enterprise Development Process.

definition of labor

labor activity:

... a perception drawn from the way labor is seen as organized in as area for its own special interests. Activity may reflect something positive going on when workers are not treated well and conditions are cruel. On the other hand, labor movements can become institutionalized as watchdog leaders switch to maintaining continuous labor/management polarization after problems are solved. The latter activity increases the chances that an economy will loose vitality. It brings about an end to economic development at some point.

definition of labor activity / what are watchdog labor leaders

labor climate:

... the prevailing mood of the a workforce; the typical or expected mood of a work place; the general condition that exists in a location as set forth by the attitudes and actions of workers. The labor climate in an area is of interest to savvy enterprise developers and experienced site selectors. For example, an unidentified quote here indicates that the labor climate in a community no doubt hampers its potential for economic development: ... a labor climate steeped in toxic mutual distrust ... See labor activity.

definition of labor climate

labor force:

... the total number of workers in an area plus the total number of people looking for work; the number of people believed to be available to work. It includes an estimate or count of all potential applicants for jobs available; therefore, it is the total number employed, assumed to be underemployed, plus the unemployed . A labor force, as compared to a labor pool, is more likely to be a projection and not take job skills into considerationsee workforce. Laborforce or labor force is also a location data element. See demographics & labor force as a combination of location data elements on page 7 of About Economic Development.

definition of labor force / definition of laborforce

labor market:

... a locale in which labor force participants offer their skills, experience and knowledge to enterprises in exchange for wages and benefits; an area in which employers are able to purchase the services of workers from a labor pool or job market; a defined market in which workers compete for jobs and employers compete for workers ... where services are bought and sold ... where labor demand and supply interact in economic theory.

definition of labor market / what is economic theory in terms of labor demand and supply

labor participation rate:

... the percentage of an population qualified to work that makes up its labor force.

definition of labor participation rate / definition of labor rate

labor pool:

... a reservoir of potential workers for employers within a labor force; the number of people counted and defined by their job skills in a labor market or location.

definition of labor pool

labor relations:

... in industry, a management function that serves to interface with the unionized and/or hourly employees of an enterprisesee human resources for the management function that generally deals with employees separately from labor relations which Wikipedia addresses under industrial relations; all policies and activities of enterprise management aimed at preserving a profitable and productive environment in light of the concerns, agendas and actions of organized labor. From the standpoint of site selection work, the option considered is relocation when labor moves to a position of conflict with management.

definition of labor relations

labor savings doctrine:

... A rule established by the precedent of the first invention and use of tools which is most likely recognized at the point in an industrial revolution when technological advancements first occur; a principle that creates the policy of reducing the number of employee positions of any given enterprise by introducing tools and technologies that can produce more for less cost and improve quality output in the process. The policy is generally considered to be one of several so called industrial doctrines.

definition of labor saving doctrine / definition of industrial doctrine

labor union:

... a SPIG made up of workers, employees, or trades personssee union.

definition of labor union / definition of labor organization

leaches:

... an equitable doctrine similar to statute of limitation used to bar or prevent assertion of a right or claim due to a failure to take a necessary action within a reasonable time period.

definition of leaches / definition of statute of limitation

land bank:

... property held (banked) for future use; a lending institution that accepts and holds land as collateral. A site selection project for land banking purposes only isn't generally considered to have economic development value to a location.

definition of land bank

landlord:

... an owner or the lessor of leased premises who retains a reversionary interest in the property. A landlord receives the property back when the lease ends.

definition of landlord

land residual technique:

... a method of real property appraisal similar to the building residual technique or capitalization, except that the amount of income earned by the improvements is deducted from the annual net income with the resulting figure is capitalized and added to the improvement cost to arrive at a value.

definition of land residual technique

lead:

... a target for contact about which there is enough information available so the decision can be made whether or not it is worthy of follow-up; a marketing or sales target that appears to have prospect potential; a hot tip about a contact implying that there may be a working relationship to be had. An unverified lead, such as one on a inexpensive bulk list, has the lowest status as potential prospect. Next above that is a verified lead which may attain the designation of suspect after being checked out. Advertising campaigns that generate responses may be a source of leads but they should be verified before much money is spent in follow-up. Networking leads are developed through personal contact, for example, business cards collected at a networking event might be referred to as a stack of leads.

definition of lead / definition of a networking lead / definition of a marketing lead

Leadership for High Performance™:

... a teaching and coaching method used for improving productivity skills within an organization. It is especially applicable for identifying critical issues and setting strategic objectives in labor/management situations, mergers and acquisitions, and other challenges to improve performance through development of employee leadership (information source).

what is leadership for high performance / what is high performance leadership

Lean Enterprises and World-Class Systems:

... a teaching and coaching method utilizing QFD (Quality Function Deployment), critical thinking skills, root cause analysis, decision opportunity analysis, plan implementation, SMED (Single Minute Exchange of Dies (SMED), CEDAC (Cause and Effect Diagram with the Addition of Cards, Poke Yoke (error proofing), self-directed work teams, high-performance teams, and improving process reliability (information source).

what are lean enterprises / what are world-class systems

lean operating:

... working, performing or functioning with little waste; producing with with a minimum number of employees at maximum efficiency; fat trimmed productivity as a strategy of maximum output for minimum cost; lean manufacturing; an industrial doctrine for competitive environments. Arguably the term may be expanded to lean and mean operating.

definition of lean operating / what is lean and mean operating / definition of lean operation

define LEDO ... Local Economic Development Organization

define lease:

... an agreement that the one who owns or controls property, a lessor, makes with a lessee which allows exclusive transfer of possession for a specified period in return for regular, scheduled, payments. The lessee, often the occupant, may be called a tenant. A tenant has the right to occupy or use as agreed by making lease payments or rent payments.

define lessee ... the party responsible for occupancy terms within a lease agreement.

define lessor ... the owner or owners representative authorized to lease a property

define leverage:

... (financial) the borrowing of capital to purchase, start up, or expand an enterprise or business operation while relying on its activity to generate enough gross profits to cover costs, including meeting the terms of agreements with lenders, the ratio of a company's debt capital to the value of its ordinary shares.

leverage buyout:

... a takeover strategy in which control is gained by the use of borrowed capital (leveraging), as in the case of one business buying a controlling number of shares in another, the collateral for which is the asset reflected in the value of the purchased shares.

definition of leverage buyout

The Limits to Growth:

... a pessimistic book published in in the early 1970s that projected a grim future for economic development. It was followed by Beyond the LimitsWikipedia comments

what are the limits to growth and economic development

link:

... a hyperlinksee definition in Weaving the Web; an elective online navigation tool. Links are used extensively throughout this glossary and the rest of The Network as an aid for navigating (example) to additional information/resources. There are six text links in this paragraph. Select the first two text links and move on to outside resources. Select the third text link (in italics) for access to another glossary definition. Review the various linked graphics used to navigate The Network in Appendix H. The appendix also defines linked text.

definition of link / definition of text link / what is a text link / what is linked text

local economic development:

... the process as it takes place in or near a community. Appendix G has various definitions related to local economic development as well as regional economic development. Local economic development is also covered on page 4 of About Economic Development in the Economic Development Network website under local data sources.

definition of local economic development

define location ... as related to site selection and enterprise and economic development

define location ... to situate or establish, as in placing at or on a site.

define location analysis ... comparative analysis; location evaluation for site selection

define location advertising ... advertising by area and local development contacts

define location consultant ... site location consultant; an advisor who knows a location

define location contact

define location data

define location data element

define location data standards ... site selection standards

define location data suppliers ... contacts for information about places of interest

define location representative ...

define location identity

define location identity string

define location link

define location, location, location

define location package

location profile ======================

... a brief that summarizes information about a location or presents its distinctive features or characteristics. See the definitions of the following terms for examplesarea profile, community profile, economic development profile, location profile and regional profile. Also, see the business publications resource in the Enterprise and Economic Development Library.

definition of location profile / what is a site location profile

define location search ... the effort put forth during a site selection project

location selection criteria:

... the specifications that guide a site selector while searching for a location and evaluating the various choices that are found; a set of requirements that guide the business decision maker in determining what site selection choice is bestsee selection criteria.

definition of selection criteria for finding a location / what is location selection criteria

define location services ... site selection services

define location work ... the endeavors of the site selection process

define loss:

... a failure to maintain original value, for example, in converting an investment to cash when there less money received than originally put into itthe investor has a negative ROI (negative return-on-investment)see gain.

LRED:

... acronym for Local and Regional Economic DevelopmentCLICK HERE to access the source where the use of the initials as defined here was found online. Also, see the definitions of area development and local economic development. The latter link is to the glossary appendix g, which is titled Local and Area Development. The appendix has definitions of various terms related to local and regional economic development. The section of Economic Development.net named Area Development begins with a global list of nations. Area Development is a site selection resource covering local and regional economic development by listing locations and providing access to their data suppliers.

about the expression local and regional economic development / meaning of lred