Final answer:
For a company that adopts a cost leadership strategy, implementing lean practices is better than focusing solely on agility. Lean practices aim to eliminate waste and improve efficiency, which aligns with the goal of reducing costs.
Step-by-step explanation:
In the context of a company that adopts a cost leadership strategy, it is better to implement lean practices rather than focusing solely on agility.
Lean practices aim to eliminate waste and improve efficiency in processes, which aligns with the goal of reducing costs. By implementing lean techniques such as just-in-time production, value stream mapping, and continuous improvement, the company can streamline operations and optimize resource allocation.
While agility can be beneficial in certain situations, such as responding quickly to market changes, it may not necessarily align with the cost leadership strategy. Agility often involves flexibility and adaptability, which may come at a higher cost. Therefore, lean practices would be a more suitable choice for a company pursuing a cost leadership strategy.