Glossary

KAIZEN

An approach involving continuous improvement. A long-term approach, that seeks to make small changes in processes to improve quality and efficiency.

KANBAN

A production method where instructions are sent from one operation to the next on a card, including specific items and quantities. (Translated from the Japanese, it literally means ‘signboard’ or ‘billboard’). The aim is to reduce waste through over-production.

KEY CUSTOMER SEGMENTS

A method of splitting a company’s clients into groups so that marketing efforts can be more focused. It is often based on demographics such as age or geographic location or on buying behavior.

KEY PERFORMANCE INDICATOR (KPI)

Values that can be measured or monitored to assess levels of achievement.

KYOTO PROTOCOL

International treaty which commits state parties to reduce greenhouse gas emissions.