Companies have to face many challenges during their operations, given that under the pressure of strong market competition, they have to develop, among other things, their appropriate strategy, ensure efficiency and impeccable quality, prioritise the development of their products, or even launch a new product on the market. It is essential to know how to increase the performance of companies in a constantly changing market environment. The aim of the study is to investigate whether company-specific factors and limitations related to the introduction of lean production can be revealed and whether the application of lean practices has an impact on the company’s operational and business performance. For the variables to be investigated, we collected data using a questionnaire survey, which were subjected to a thorough analysis in order to ensure the applicability of the PLS-SEM method. Based on the investigations, it can be concluded that the use of lean tools is more typical in companies characterised by foreign ownership than in domestic companies and that there is a significant positive relationship between company size and the application of lean tools. Lean production has a direct positive and significant effect on the company’s operational and market performance.