| 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. 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.
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 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).
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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 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).
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
comments
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.
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.
location (1):
... a place
of interest, especially to an enterprise
developer or site
selector; a county, region, state,
province, territory or other locale that is a place seeking
economic
development; a place for which a location
identity is submitted to The
Network in order for it to be listed without
cost or obligation in three websitessee
Search for a Location to understand why a place seeking
economic development should be listed in The Network.
location (2)
... a category
of location
data. A description
or map of a locationsee
the Locations
Section of the Enterprise
and Economic Development Library. Maps as a category
of location data are discussed in the resource archivesee
Maps
for site selection.
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how to: site selection search
for information about a location |
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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
about a location. Data
about places
of interest to users
of The
Network is
often conveniently organized into categories
known as location
data elements.
location data element:
... an item of economic
development data; a category
of information found in community
profiles or
the
websites of area
and local development contacts; one
of the various items of information provided by a location
data supplier. See the items of location data
listed on
page
2 of About Site Selection as well as information
on page 7 of About Economic Development which provides
access
to
examples of location data elements in use. Representatives
of places seeking economic development may use so called
site
selection standards.to organize the presentation
of location data so that it accommodates comparative
analysis. A free download of location
data standards presented as ... over
1,200 data elements organized into 25 spreadsheets ... is
available at the website of one of partners of the
Development Alliance.
location identity:
... information that
is not an address but is enough to allow one
to find a location on
a map or in an atlas; a location
identity stringCLICK
HERE for
information with
examples about identifying a place
of interest as a
request that it be published online with
a link to
contact
data for someone in position to provide information
about it. Send
an email to identity a place of interest or see
page 6 of the introduction to The Network if
you want to search.
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 that site
selection is a part of the enterprise
and economic development process. See the definition
of location as
it applies the mission
of The
Network. The expression location,
location, location is better known for it use in
promoting the real
estate premise that marketability or value
of property is based on where it is relative to what
surrounds it. 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. The quote is used here
to figuratively point out that site
selection projects often begin when business
decision makers put their fingers on maps
in order to target places
of interest. Bropy's focus on the size of
projects doesn't apply. For example, the 1996 relocation
of the nanocorp behind The
Network could have
been anywhere that communications infrastructure
and services supported
a global reach via the Internet. The location for Economic
Development Services was what
interested its owner in terms of quality
of life after it was determined that communications
needs could be satisfied.
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location package:
... location data assembled
and submitted to an economic
development prospect or suspect. an
assemblage of information used in marketing places
seeking economic development. a fulfillment
package preassembled by a location data supplier in anticipation
of a request from a prospect or used to promote a place.
location profile:
... the product of an effort to organize
statistical information and noteworthy
characteristics
about
a place that
serves as a synopsis; a community profile organized specifically
to inform members of the target
audience of The Network about a place
of interest.
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.
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.
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