The Key Concept of Kaizen Training in Banking

Kaizen Training

‘To be trained to work for a better tomorrow gradually trains one to succeed in building one.’

The word Kaizen literally translates into “change for better” or “change for good”. The Japanese word doesn’t inherent meaning of continuity, rather aims for gradual improvement. In business, the term simply refers to all those activities that continuously aim at improving all functions of the organization and involve all employees from the CEO to the executive level. This philosophy has been significantly applied in various sectors like healthcare, psychotherapy, life-coaching, government, banking, and etc. The concept was adopted from modern Japanese manufacturers, like Toyota, etc.

Kaizen is actually the Japanese word for improvement and the same is a pre-requisite for all business environments irrespective of the types of work they excel at. It aims at improving the organization at all levels step by step, ensuring improvement for all (the employees, external public and organization).

Kaizen Training in Banking Sector

Banking is the priority sector of the Indian economy. The sector has gained due importance from the time the govt. has sought to transform the economy into a cashless one. But, with due competition in the market and scaling demand for innovations in services and products, leading banks are have been focusing on improving key processes, especially those that provide the opportunity to increase productivity and attract new customers on board. The customers have become very intelligent these days and no longer trust financial institutions due to rise in mis-selling and fraudulent activities. This further calls for the need to bring improvement in the sector and inculcate aspects of Kaizen training.

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Need for Kaizen training in Banking Sector

While many economists and banking officials might believe that their field is too specific to benefit from the methods of Kaizen, Kaizen Training provides an insight into the problems being faced and shows actual improvement in figures and better clientage. Also, the concept eliminates the previous processes that didn’t lead to sustained results where the employees were cynical about process improvement initiatives and thought that it would quickly lose favor.

Kaizen is essentially required in the banking sector. Let’s know why?

  • Training:

It recognizes the need to train and make employees aware of the challenges with continuous improvement principles and tools.

  • Kaizen aims at making changes that would directly impact working environments.
  • Kaizen recognizes the effort of employees at all levels to bring about a sustainable change in the organization.
  • Kaizen aims at ensuring effective workflows through focus on specific areas by eliminating wastes.
  • Kaizen generates advanced improvements quickly, without huge capital investments and/or extensive commitments of employee time.

Kaizen or Continuous process improvement (CPI) is imperative to help the banking industry to enhance their core competitiveness and guide banks to think comprehensively. It also aims at improving the process effectively with sustained results and numerous tpm consultants in India abide by it.

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