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Lean Strategy - Explained

What is a Lean Strategy?

Written by Jason Gordon

Updated at April 12th, 2023

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What is a Lean Strategy?

Lean strategies focuses on producing more with less input. Thus, it seeks to eliminate waste throughout the entire manufacturing process. Efficiency can be achieved in two ways:

  • Technical Efficiency Here, a firm that produces the maximum amount of products given limited resources and capital is said to be technically efficient.
  • Economic Efficiency - This deals with minimizing manufacturing costs through wise allocation of resources to achieve the best output. A firm whose main goal is maximizing profits should also efficiently allocate resources to keep costs down.

Lean strategies seek to enhance the technical efficiency of a firm, methodologies, and processes. Lean firms reduce wasted time, human resources, and space.

Back to: STRATEGY & PLANNING

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  • Competitive Strategies
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strategic clarification lean planning

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