The term Kaizen is a Japanese word, meaning “continuous incremental improvements”. It is derived from the Japanese words “kai” which means “change” and “zen” which means “good” or “wisdom”. It is a system that involves every member of an organization. It urges every member to regularly think of suggestions for small improvements. These suggestions are usually minor and may not be limited to any particular function in the organization. Kaizen is a continuous process and must be adopted as a way of life.

Succession planning is the process of identifying employees for key roles in the organization. This process also involves developing strategies and providing the required training and skills to capable employees to meet an organization’s future needs. Any organization must have a succession planning process in place to be able to find capable employees with the potential to take key leadership roles in the organization.

We are living in such competitive times where any business you may be in, you will have to stay ahead of your competition to excel. The customers have numerous choices and references to pick from. They are the ones who will decide whether a product is up to the mark or not. The level of customer satisfaction will decide the fate of your product and your business.

The four functions of management comprise of the primary functions of managers, which must be performed efficiently for the success of an organization. These functions are common across all fields of management, be it at a factory, a super market, a restaurant or even at home. For the smooth functioning of any organization, the functions are planning, organizing, leading and controlling. These functions are referred to as the management process.

Centralization is the process where the authority and power of an organization is in the hands of only a few.  This power includes activities such as planning, decision-making and delegating authority. The top management takes all the important decisions if an organization is centralized. These decisions are then enforced on the lower tiers of the organization.