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Kaizen

Kaizen means 'continuous improvement' (or, more accurately 'good change') and was popularized, amongst others, by Masaaki Imai, who wrote a bestseller of the same name. It is also known as TQC (as in 'TQC projects') and uses the basic Plan-Do-Check-Act principles.

Continuous improvement is often contrasted with radical improvement, Business Process Rengineering, redesign, etc. 

The benefits of Kaizen include controllable improvement and maintaining the attention of the workforce on quality. In times of hypercompetition, Kaizen may not be enough to keep up, and more radical approaches may be necessary. 

See also:

Kaikaku, PDCA

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