Kaizen: Imperative Characteristic for Indian Entrepreneur, An overview

Abstract

In today's competitive globalized market a 'quantum leap' in value creation is required to be taken to combat with world-class manufacturers from across the globe invading Indian market. Indian entrepreneurs need an imperative characteristic like 'Kaizen', to improve the value creation and customer satisfaction, resulting in improved market share and higher rate of returns on the investments. Kaizen is an improvement and ongoing improvement in all systems, processes and activities involving everyone in the organization - all level managers, supervisors and workers. Kaizen has an emphasis on process-oriented way of thinking and management system that supports and acknowledges people's process-oriented efforts. It is single most important concept in Japanese management, which played major role in competitive success of Japan. Its time for Indian Entrepreneurs to embrace Kaizen and make it an important tool for successful Entrepreneurship. This paper is a descriptive discussion of Kaizen in depth. Also in the later part strategical importance of Kaizen, as a tool for success of Indian entrepreneurs, has been discussed.