Member-only story
2021: Creating a Lexicon of Future
K is for Kaikaku
Kaikaku (改革), is the Japanese term for “radical change”. In business, Kaikaku is concerned with making fundamental and radical changes to a production system.
Kaikaku means that an entire business is changed radically, typically in the form of a project. Kaikaku is most often initiated by management, since the implementation and the result will significantly impact business. Kaikaku is about introducing new knowledge, new strategies, new approaches, new production techniques or new equipment. Kaikaku can be prompted by external factors, e.g. new technology or market conditions. Kaikaku can also be initiated when management judges that diminishing improvements from ongoing Kaizen efforts suggest a need for more radical change. ~ Wikipedia, Kaikaku
