Lean focuses on maximizing customer value while minimizing waste. It aims to do more with less - less effort, less inventory, less time. The five basic principles of lean are: 1) deeply understanding the customer, 2) identifying the value stream, 3) ensuring product flow through the value stream, 4) pulling requirements through the system, and 5) continual improvement. Lean eliminates waste throughout the entire value stream to create efficient processes that require fewer resources and produce higher quality products at a lower cost. This allows businesses to better respond to changing customer demands.