That sounds painfully obvious.
But, that’s where the big picture lives. A strategic perspective comes from considering things that are ridiculously apparent. Competitive advantage comes from finding a way to view the basics differently.
Basic Questions about the Labor Supply include
- How many people are there?
- How many of them work in the profession?
- How many of them live in the neighborhood?
- How old are they?
In order to fully grasp the responsibilities and consequences, you need a deep understanding of the supply and the demand factors for the labor market. In the end, all you need is enough data to navigate the confines of your niche. In the beginning, you have to learn the location of the ditch.
Population distribution means dividing the whole in various ways (age, gender, occupation, zipcode, kind of car and so on). An understanding of population distribution allows you to compare one place with another, one group of people across places and so on.
The most common map of population distribution is the “Population Pyramid”. This graph shows age and gender distribution for a country, region, city or planet. It gets its name from its basic shape. Here is a huge collection of examples of population pyramids.