The document discusses the steps involved in selecting a location for a new industrial plant. The key steps are: 1) Deciding whether to locate domestically or internationally; 2) Selecting a suitable region based on factors like raw materials, markets, infrastructure, climate, and government policies; 3) Choosing a specific community or locality based on availability of labor, financing options, and amenities for workers; 4) Picking the exact site based on soil quality, size, topography, and waste disposal needs. Location is a critical economic decision that impacts long-term costs and business operations.