Which of the following defines the approach of Lean methodology?

The approach of Lean methodology is best defined by improving value by minimizing waste. Lean focuses on the principle of delivering maximum value to the customer while reducing resources, time, and effort spent on activities that do not add value. This philosophy emphasizes the importance of streamlining processes and eliminating waste in all forms—whether it's excess inventory, unnecessary movement, defects, or underutilized talent. By focusing on what adds true value to the customer, organizations can enhance efficiency and effectiveness in their operations.

While the other options mention important aspects of quality improvement, they do not encapsulate the core principle of Lean methodology as effectively. Reducing the defect rate, implementing standard processes, and measuring performance outcomes are all relevant to quality improvement, but they do not specifically target the Lean focus on waste reduction and value enhancement.