|1 the historic migration of high volume, low value added—so called back office—activity out of the city;|
|2 the subsequent, and sometimes simultaneous migration of this type of activity to other lower cost countries;|
|3 the higher value added, lower volume activity remaining within the urban area but now dispersing from the centre;|
|4 the reverse of these dispersal trends in the new magnetism of the concentration of specialist, relatively low volume, but high value added, activity into the core of the city especially for those activities which require a great deal of co-operation among people. (Chapman 1995)|
The continuing search for increased business efficiency, especially by the 40000 or so transnational companies identified in the global economy, has led to the optimization of real estate assets in terms of location, quantity, specification and tenure, as well as the emergence of such corporate restructuring buzzwords as down-sizing, right-sizing, outsourcing, telecommuting, hot-desking and core business concentration. Cities themselves are finding the need to compete as businesses with an awareness of their inherent strengths and weaknesses; an evaluation of the necessary management, skill, resource and marketing abilities required to maintain and enhance the city economy; and the desirability and direction of specialization, excellence and expertise. In this context, it has been argued that effective, properly resourced partnerships of central and local government and the
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Publication information: Book title: Urban Planning and Real Estate Development. Contributors: John Ratcliffe - Author, Michael Stubbs - Author. Publisher: UCL Press. Place of publication: London. Publication year: 1996. Page number: 402.
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