Meaning of the word minimization in English

What does minimization mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

minimization

US /ˌmɪn.ə.məˈzeɪ.ʃən/
UK /ˌmɪn.ɪ.maɪˈzeɪ.ʃən/
"minimization" picture

Noun

the action or process of reducing something to the smallest possible amount or degree

Example:
The company focuses on the minimization of waste in its production line.
Risk minimization is a key part of financial planning.