Final answer:
Kaizen budgeting is associated with continual small cost reductions, embracing the Japanese philosophy of continuous improvement in organizational processes and efficiency.
Step-by-step explanation:
Kaizen budgeting involves continual small cost reductions. This concept is a budgeting technique based on the principles of the Japanese management philosophy of kaizen, which focuses on continuous improvement of processes and efficiency within an organization. The key aspect of kaizen budgeting is not just to create a static budget but to continuously seek small, incremental changes in all parts of the organization to reduce costs and improve overall performance.