1. Cost Leadership Strategy
The goal of cost leadership strategy is to produce products and services at the lowest cost in the industry. In other words to be the industry leader in low cost. An example is Walmart, who uses an automated inventory replenishment system, which reduces inventory storage requirements and saves floor space. This allows for their retail stores to use the maximum amount of space for selling goods.
Read more about this topic: Competitive Advantage
Famous quotes containing the words cost, leadership and/or strategy:
“Greeting people doesn’t cost you anything except a roll of your tongue.”
—Chinese proverb.
“Nature, we are starting to realize, is every bit as important as nurture. Genetic influences, brain chemistry, and neurological development contribute strongly to who we are as children and what we become as adults. For example, tendencies to excessive worrying or timidity, leadership qualities, risk taking, obedience to authority, all appear to have a constitutional aspect.”
—Stanley Turecki (20th century)
“To a first approximation, the intentional strategy consists of treating the object whose behavior you want to predict as a rational agent with beliefs and desires and other mental states exhibiting what Brentano and others call intentionality.”
—Daniel Clement Dennett (b. 1942)