Final answer:
A company that follows an overall cost leadership strategy aims to minimize costs and offer products at competitive prices. An example is Walmart, which negotiates lower prices with suppliers and maintains a efficient supply chain.
Step-by-step explanation:
A company that follows an overall cost leadership strategy aims to be the lowest-cost producer in its industry. This strategy involves minimizing costs at every stage of the production process, allowing the company to offer competitive prices to its customers. By focusing on cost reduction, the company can achieve economies of scale, negotiate better deals with suppliers, and streamline its operations.
An example of a company that follows an overall cost leadership strategy is Walmart. Walmart leverages its massive buying power to negotiate lower prices with suppliers, which allows them to offer products to customers at lower prices compared to their competitors. Their extensive distribution network and efficient supply chain also contribute to their ability to provide products at a lower cost.
Overall, a company that follows an overall cost leadership strategy aims to gain a competitive advantage by offering products or services at a lower cost than its competitors, while still maintaining a reasonable level of quality.