Kaizen is a Japanese word made from Kai (make change) and ZEN (make good); so, it stands for a change for good/betterment. It has been another philosophy that churned out of the TOYOTA Company.
The philosophy is that of continuous improvement with an aim of eliminating WASTE. It can have pre-determined time duration for the achievement of completion.
It also aims at the unnecessary usage of manpower, curbing of expenditure and optimum utilization of the floor space.