What is one approach to remedying an internal cost disadvantage?

The most effective approach to remedying an internal cost disadvantage is through redesigning the product to reduce defect rates. Focusing on product design can lead to fewer defects, which directly reduces costs associated with returns, repairs, and customer dissatisfaction. By minimizing defects, a company not only reduces material and labor costs but also enhances customer experience, potentially increasing sales and competitiveness in the market.

Redesigning a product can help streamline processes, improve quality control, and ultimately lead to a more efficient operation. It can also enable the company to use materials more effectively, which is beneficial for cost management.

In contrast, choices that involve foregoing best practices or maintaining previous activities do not promote improvement and are unlikely to address the core issues that contribute to cost disadvantages. Investing in costly technological improvements also doesn't guarantee immediate cost reduction; it requires careful consideration of ROI and could lead to higher short-term expenses without actionable benefits right away.