Executive Pay: The Curious Case of Carlos Ghosn’s Arrest
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Carlos Ghosn is a 64-year-old French citizen who is the head of three major automobile companies viz. Mitsubishi, Nissan as well as Renault. To people who are familiar with the automobile industry, Carlos Ghosn is not a name that needs any introduction. He is the wonder executive who has rescued automotive firms from the brink […]
The Rise of Populism and Protectionism The election of President Trump represents the cusp of the current wave of protectionism and populism that emerged in the aftermath of the Global Financial Crisis of 2008. As the Brexit vote and the emergence of populist leaders such as Vladimir Putin in Russia showed, the disaffection and dissatisfaction […]
International trade is regulated through tariffs and trade laws established by the Country’s Federal Governments to control the imports and exports of the country. The Government invests executive powers to the Customs Departments, headed by Custom’s Commissioners to administer the policies and tariffs on all imports and exports into and out of the country. Customs […]
Any Organization that is engaged in Imports or Exports would require the services of third party Customs Clearance Agent as well as a Freight Forwarder. While freight forward manages the transportation part of the exports and imports, customs clearance and the approval and co-ordination with the rest of the regulatory authorities to affect the imports […]
Customs Departments are the government designated authority to implement the policies related to import and export, collect customs duties and facilitate movement of people, goods, and cargo into and out of the country. Area of Operations and Authority Customs departments have offices at all seaports, airports and border gateways that are essentially the exit and […]
“Kaizen” refers to a Japanese word which means “improvement” or “change for the better”. Kaizen is defined as a continuous effort by each and every employee (from the CEO to field staff) to ensure improvement of all processes and systems of a particular organization.
Work for a Japanese company and you would soon realize how much importance they give to the process of Kaizen. The process of Kaizen helps Japanese companies to outshine all other competitors by adhering to certain set policies and rules to eliminate defects and ensure long term superior quality and eventually customer satisfaction.
Kaizen works on the following basic principle.
“Change is for good”.
Kaizen means “continuous improvement of processes and functions of an organization through change”. In a layman’s language, Kaizen brings continuous small improvements in the overall processes and eventually aims towards organization’s success. Japanese feel that many small continuous changes in the systems and policies bring effective results than few major changes.
Kaizen process aims at continuous improvement of processes not only in manufacturing sector but all other departments as well. Implementing Kaizen tools is not the responsibility of a single individual but involves every member who is directly associated with the organization. Every individual, irrespective of his/her designation or level in the hierarchy needs to contribute by incorporating small improvements and changes in the system.
Following are the main elements of Six Sigma:
“Five S” of Kaizen is a systematic approach which leads to foolproof systems, standard policies, rules and regulations to give rise to a healthy work culture at the organization. You would hardly find an individual representing a Japanese company unhappy or dissatisfied. Japanese employees never speak ill about their organization.
Yes, the process of Kaizen plays an important role in employee satisfaction and customer satisfaction through small continuous changes and eliminating defects. Kaizen tools give rise to a well organized workplace which results in better productivity and yield better results. It also leads to employees who strongly feel attached towards the organization.
Let us understand the five S in Detail:
Kaizen focuses on continuous small improvements and thus gives immediate results.
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