Smart businesses do not look at labor costs alone anymore. They do look at market access, transportation, telecommunications infrastructure and the education and skill level of the workforce, the development of capital and the regulatory market.

Summary

This quote emphasizes that modern businesses should consider several factors beyond labor costs when making strategic decisions. In addition to wages, factors such as market access, transportation, infrastructure, workforce skills, access to capital, and regulatory environment are crucial. Rather than focusing solely on reducing labor expenses, smart businesses analyze the bigger picture to ensure they can effectively operate and grow in a given market. By taking into account these various elements, companies can make more informed decisions and position themselves for long-term success.

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