Total quality management - part 2

In this lesson

1. 0:00 Kaizen costing and continuous improvement
2. 1:05 Kaizen versus standard costing comparison
3. 2:51 Kaizen targets and cost reduction approach
4. 4:09 Multiple choice question walkthrough
5. 6:54 Total quality management recap and summary

About this lesson

You'll discover how Kaizen differs fundamentally from standard costing and variance analysis: while standard costing focuses on cost control (reacting when you overspend), Kaizen takes a proactive approach with regularly revised, downward-moving cost targets that embed continuous improvement into your business operations. The video explores the practical mechanics of Kaizen costing, including how moving targets work across successive periods and why employee empowerment is critical to achieving incremental cost reductions. You'll also work through a real exam-style question that tests your understanding of Kaizen's core principles—distinguishing between what Kaizen actually is (continual improvement by small incremental steps) and what it isn't (a quality measure or a "get it right first time" philosophy, though both relate to TQM). By the end, you'll have a clear grasp of how Kaizen costing supports total quality management's dual focus on cost efficiency and output quality, giving you confidence to tackle related exam questions.

Duration: 8m