There is a good reason why we should limit location feature in our smart phones and portable devices.
The US National Security Agency published a helpful reminder. However take the following into account; the “document may be useful to a wide range of users, it is intended primarily for NSS/DoD system users”.
The full document is accessible here.
Please note although the points and advise given in the document are very important, however they can have implications for services such as Mobile Device Management applications. Device location can be utilised for legitimate purposes when a device is lost or left at the back of a cab.
It is advised to use common sense and do a cost benefit analysis to mitigate risks.