Cost leadership

Cost leadership is organization's ability to achieve lower costs relative to competitors through productivity and efficiency improvements, elimination of waste, and tight cost control.

Definitions

According to Cost Accounting by Horngren, Datar, Rajan (14th edition),

Cost leadership. Organization's ability to achieve lower costs relative to competitors through productivity and efficiency improvements, elimination of waste, and tight cost control.

According to the Strategic Management by David and David (15th edition),

Cost leadership. One of Michael Porter's strategy dimensions that involves a firm producing standardized products at a very low per-unit cost for consumers who are price-sensitive.