Corporate Executive Survey Commentary: Time Equals Opportunity
The sluggish economy is providing companies with the opportunity to begin planning their next moves.
However, time equals opportunity. Forty-six percent of survey participants begin the information-gathering process for site selection as much as two years in advance, and 20 percent begin even earlier. Six of the top 10 site selection factors in this year’s survey are directly related to real estate, providing further evidence that timing is a strategic consideration.
With these considerations in mind, the sluggish economy provides an opportunity for companies to begin planning their next moves. As the economy gains strength, a company will face increasing competition for key sites — and having a strategy in place will allow it to move quickly. It is never too early to start the process.
It is not unusual for companies to begin gathering information far in advance, but then delay making any actual decisions until compelled by circumstances, such as a major new customer, influx of new orders, or the quest for skilled labor. At that point, site selection becomes an urgent priority, with added costs stemming from inadequate planning. Anticipating growth in 2016 or 2017? Start working on your strategy now.
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