The correct answer is C. Both 1 and 2.
Kaizen costing is a system of continuous improvement that focuses on reducing costs without sacrificing quality, staff, or security. It is a systematic approach to identifying and eliminating waste from all aspects of a business, from production to administration. Kaizen costing can be applied to any type of business, regardless of size or industry.
The benefits of Kaizen costing include:
- Reduced costs
- Improved quality
- Increased efficiency
- Enhanced customer satisfaction
- Improved employee morale
Kaizen costing is a powerful tool that can help businesses of all sizes improve their bottom line. If you are looking for a way to reduce costs without sacrificing quality, staff, or security, Kaizen costing is a great option to consider.
Here is a brief explanation of each option:
- Option 1: Kaizen costing is a system of cost reduction. This is correct. Kaizen costing focuses on identifying and eliminating waste from all aspects of a business, from production to administration. This can lead to significant cost savings.
- Option 2: Kaizen costing is a system of continuous improvement without negative effects on the quality, staff and security. This is also correct. Kaizen costing is a systematic approach to improvement that focuses on identifying and eliminating waste. This can lead to improved quality, increased efficiency, and enhanced customer satisfaction. It is important to note that Kaizen costing does not involve sacrificing quality, staff, or security.
- Option 3: Only 1. This is incorrect. Kaizen costing is a system of both cost reduction and continuous improvement.
- Option 4: Neither 1 nor 2. This is also incorrect. Kaizen costing is a system of both cost reduction and continuous improvement.