| labor:
... 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 production this
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.
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definition of labor
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labor activity:
... a perception drawn from a movement or observed
liveliness of labor in an
area which, on the one hand, 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 and watchdog leaders
switch to maintaining continuous labor/management polarization
after
problems are solved which at some point brings about an end
to economic
development and increases
the chances that the community in question will loose its
vitality or become unsustainable.
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.
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.
labor market:
... a defined geographic area in which labor
force participants offer their skills, experience
and knowledge to enterprises in exchange for wages
and benefits; a defined area in which employers are
able to purchase the services of workers from a labor
pool; a defined market in which workers compete
for jobs and employers compete for workers or, in other
words, in which labor services are bought and sold;
the place where labor demand and supply interact in economic
theory.
labor participation rate:
... the percentage of an population qualified to work
that makes up its labor force.
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.
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.
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.
labor union:
... a SPIG made
up of workers, employees, or trades personssee union.
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.
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.
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.
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.
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.
Leadership for High Performance™:
... a productivity teaching and coaching method used for
improving skills within an organization. It deals with
strategic objectives and critical issues. It's especially
applicable in labor/management situations, mergers and
acquisitions, and other challenging needs for enterprises
to improve performance through development of employee
leadershipPinnacle
Partners, Inc.
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what is leadership for high performance
/ what is high performance leadership
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Lean Enterprises and World-Class Systems:
... a productivity teaching and coaching method that utilizes
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 (maintenance system
development)Pinnacle
Partners, Inc.
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.
LEDO ... Local
Economic Development Organization
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 may be called a tenant.
A tenant has the right to occupy or use as agreed by making
lease payments or rent payments.
lessee:
... a lessor's tenant, a landlord's tenant
obligated to pay rent, the one who has a
lease/leases,
a tenant having a leasehold
estate, which
consists
of the right to exclusive use and occupancy.
lessor:
... a lessee's landlord, the one holding a leased fee
estate, which grants the rights to collect rent plus the
reversion. A reversion occurs at the time a tenant gives
up a leasehold.
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.
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
coverage.
link:
... definition available in the glossary
for Tim Berner-Lee's
Weaving the Web. Link, or hyperlink,
is included in the .network glossary in
order to point out that The Network offers a plethora
of them. Its mission
statement indicates that The Network passes
users through
to resource
and service providers. Links are
important for that purpose. As an online
information service,
The Network gives users the opportunity to control
the learning process. Links make it possible for them to
obtain as much or as little information as they want. Behind
all of this is a
commitment to keep links in working order.
If you run across a broken link, its not a dead
end. All
you have to do to get
free, personal, search assistance is
ask.
local economic development:
... the
process as it takes place in or near a communitymore.
location (1):
... a place
of interest to an enterprise
developer or site
selector; a place about which there is economic
development data available; a place for which
there is a location
data supplier; a real estate site or property,
such as an available
building, of interest for enterprise
and economic development; a place that can be
found on a map and is listed or to be listed in the websites
of The Networksee
About
Locations, last page in the .network introduction series.
location (2):
... a category of location
data which is indicated
by map and/or description where a place is;
an area or place about which information is gathered in
support of site
location work.
location analysis ... a location
study; the evaluation stage of a location project.
location consultant:
... an advisor,
for example a management consultant specializing in finding,
evaluating, and recommending locations or
a real estate consultant offering the service of gathering location
data for clients. Location consultants are also
representatives of places seeking
economic development, for example area
developers.
location contact:
... a development representative (location
development representative) or area
developer; a person or organization in position
to advise and supply location data.
location data:
... information from a location
data supplier about a
place of interest to a site
selector; local
economic
development data; the contents of a location
package; a community
profile organized to promote a location seeking
economic
development; information organized for an
economic
development prospect by a location
development representative.
location data standards:
... categories of location
data universally recognized
by site
selectors as matches with those they use to
organize selection
criteria; various elements
of economic development information presented
in a manner that facilitates comparative
analysis; 25 spreadsheets and approximately
1,200 data elements organized by a development
alliance in 2001 and
referred to as Site
Selection Data Standards by the International
Economic Development Council.
location identity:
... a string of
information that enables one to find
a place on
a standard road map for a country or a region, state, territory,
province or the like within
it. A location
identity string as defined here does not
include a specific address. Understanding what location
identity means can be useful in searching
online for a place of interest. The expression is
important for understanding how to send
an anonymous email to request .network assistance
while, at the same time, making a recommendation for listing
a location. See the last
page in the series that introduces The Network for
more information about who uses it to search for locations.
location link:
... the addition of a hyperlink to the name of
a place in a .network location
file. Specifically, it provides information
on how to get in touch with an area
developer or local
development
representative in order to gather information or ask for assistance.
location, location, location:
... an expression emphasizing the real
estate premise that marketability or value
of property is based on where it is relative to what
surrounds it; i.e., location drives
value; also, an expression emphasizing to the enterprise
developer that a thorough evaluation of location
or a choice of locations is essential if there is to
be an expectation of success in starting
up an operation
or working with a site
selection project. Location,
location, location is not as important these days (2002) with
really big projects. It is only pertinent if a certain geography is
targetedJack
Brophy, inaugural IAMC chair
and real estate consultant. For most members
of the target audience of users of
The Network, the second sentence is the
operative phrase in the quote because site selection
projects
generally
begin when business
decision makers put their fingers
on maps of geographic regions and say something like ... this
is the area where we need to bemore
about site selection and maps.
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location package:
... location data assembled and submitted in response
to a
economic
development prospect's request; information
about a community or area assembled and used as
a marketing tool;
a fulfillment
package when a request of a general nature for
information about a location is
received by, for example, a chamber
of commerce.
location profile:
... a summary, statistical outline,
or other presentation of noteworthy characteristics about
a place,
for example,
a community
profile or the contents of a location
package.
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.
location selection data standards ... same
as a site
selection standards.
location/site selection ... site
selection emphasizing places over real
estate.
location work:
... that which is done to carry out the
site
selection process as part of an enterprise
development project; all
activities surrounding the search for a place to start
up a new venture or expand operations
of an enterprise;
site selection done for
a relocation. Places
seeking economic
development are interested in
location work. They generally have representatives busy
trying to build and maintain relationships with prospects
through location/site selection networks. Appendix
B of this glossary has more information about networks.
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.
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