When a company uses economies of scale to implement a low-cost strategy globally, learning effects, and location economies it is using a Global standardization strategy.
What is economies?
A complex system of linked exchange, consumption, and production activities makes up an economy, and it ultimately decides how resources are distributed among all of the participants. The needs of those who live and work within the economy are met by the production, consumption, as well as delivery of goods and services. A country, a region, a solitary industry, or even a parents may be represented by an economy. Whether an entity is a country or a small town, an economy includes all of the activities connected to the production, consumption, as well as trade of goods and services in that entity. Every economy is different. Each is shaped by the resources, laws, cultures, histories, and geographies that are unique to it. Each changes as a result of the participants' decisions and actions.
To learn more about economies
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