Chapter 6 - Master Budget and Responsibility Accounting - Assignment Material - Questions - Page 230: 6-11

Kaizen budgeting is a budgeting approach that incorporates continuous improvement anticipated during the budget period into the budget numbers. It focuses on making ongoing, small improvements in processes and operations, often through employee suggestions and a culture that values and rewards these ideas. The goal is to achieve cost reductions and operational efficiencies through gradual refinements rather than radical changes.

Kaizen budgeting is a budgeting approach that incorporates continuous improvement anticipated during the budget period into the budget numbers. It focuses on making ongoing, small improvements in processes and operations, often through employee suggestions and a culture that values and rewards these ideas. The goal is to achieve cost reductions and operational efficiencies through gradual refinements rather than radical changes.