Final answer:
Kaizen is a Japanese term that refers to continuous improvement. It is a business strategy that focuses on making small, incremental changes to processes, products, or systems over time in order to improve efficiency and quality.
Step-by-step explanation:
Kaizen is a Japanese term that refers to continuous improvement. It is a business strategy that focuses on making small, incremental changes to processes, products, or systems over time in order to improve efficiency and quality.
Kaizen involves the participation of all employees in identifying areas for improvement and implementing changes on an ongoing basis. This approach helps organizations to constantly adapt and evolve, leading to increased productivity, customer satisfaction, and competitiveness.
For example, a manufacturing company practicing Kaizen may regularly review its production processes and involve employees in suggesting and implementing small changes that can enhance efficiency or reduce waste.