Question
A quality management system where Improvement of
quality is through small, incremental improvements, this type of quality management system is called?Solution
Kaizen is an incremental approach to improving quality.Ā KaizenĀ is a Japanese word meaning continuous improvement. It's made up of two characters in Japanese:Ā kai, which means 'change,' andĀ Zen, which means 'good.' It's used to describe a company culture where everyone, from the CEO to the front desk clerk, regularly evaluates his or her work and thinks of ways to improve it. The concept is that small steps on a regular basis will lead to large improvements over time. It is continuous improvement based on the idea that small, ongoing positive changes can reap major improvements. Typically, it is based on cooperation and commitment and stands in contrast to approaches that use radical changes or top-down edicts to achieve transformation. Kaizen is core toĀ lean manufacturing, orĀ The Toyota Way . It was developed in the manufacturing sector to lower defects, eliminate waste, boost productivity, encourage worker purpose and accountability, and promote innovation.
Insurance is, thus, a financial tool specially created to reduce the financial impact of unforeseen events and to create______.
Which of the following is specifically intended for the protection of low -income people, with affordable insurance products to help them cope with and ...
Which of the following is NOT a peril covered under the Standard Fire and Special Perils Policy?
Intangible assets cover non-physical assets that cover ________________.
The principle ensuring an insured is not compensated more than the actual loss is:
The 'Third-Party Liability' cover in a motor insurance policy is mandatory in India as per the:
The insurance companies collect a fixed amount from its customers at a fixed interval of time. What is it called?
Oriental Insurance Company Ltd. was a subsidiary of Life Insurance Corporation of India from 1956 to_______.
IRDAI has the power to frame regulations under which of the following Section of the Insurance Act, 1938?
The principle of utmost good faith requires: