Bus 280 Study GuideTest Chapters 11-14Name:____________________________1. A _Global___strategy can create cost savings due to product and marketing standardization. 2. A __Focus_ strategy often means designing products and promotions aimed at consumers whoare either dissatisfied with existing choices or who want something distinctive. 3. A business-level strategy in which a company exploits economies of scale is called a low-cost leadership strategy 4. A company that is closing factories with unused capacity and laying-off workers is most likely following a _retrenchment__ strategy. 5. A _Cross Functional__ team is one composed of employees who work at similar levels in different operative departments in an organization. 6. A growth strategy is designed to _increase the scale or scope of a corporation's operations._. 7. According to value-chain analysis, inbound and outbound logistics are considered as _Primaryactivities_. 8. The way in which a company divides its activities among separate units and coordinates activities among those units is referred to as _Organizational Structure__.9. The lines of authority in an organization that run from top management to individual employees and specify internal reporting relationships is called _chains of command_______.10. __Planning______ is the process of identifying and selecting an organization's objectives anddeciding how the organization will achieve those objectives.