1. Know what the generic business strategies are (slide 3; pg. 98 of text; see generic business strategies in the glossary) 2. Know how the degree of employee task specialization and increased production volume (emphasis on economies of scale) relate to one another (slide 6; pg. 100) 3. Know how cost leadership strategies reduce the level of threats from the forces in the model of environmental threats (aka Porter's five forces) (slide 13; pg. 109-110) 4. Know what type of compensation policies are well suited to cost leadership strategy implementation (slide 22; pg. 120 - see also Table 4.7) 5. Know what business-level strategies are, and be able to identify examples of them (slides 2