Bangladesh’s SME Foundation has helped 51 SMEs and 267 entrepreneurs to improve overall productivity, competitiveness, and product quality by implementing Kaizen, the Japanese philosophy on product quality improvement. Revealing this during a virtual workshop, the SME Foundation stated that Kaizen is a universal method enabling continuous improvement of any activity at minimum or zero cost. Emphasizing that Kaizen can be practiced in every field, including industry, banking, commerce, administration, healthcare, and daily life, the foundation said the term ‘Kaizen’ is derived from the amalgamation of two Japanese words KAI (meaning change) and ZEN (meaning good). So, it means ‘change for good.’
