Executing Kaizen requires the right mindset throughout an organization in order to evolve and constantly improve. The 10 principles that address the Kaizen mindset are commonly referenced as core to the philosophy that Lions Gate Club wished to adhere to. They are:
- Let go of assumptions.
- Be proactive about solving problems.
- Don’t accept the status quo.
- Let go of perfectionism and take an attitude of iterative, adaptive change.
- Look for solutions as you find mistakes.
- Create an environment in which everyone feels empowered to contribute.
- Don’t accept the obvious issue; instead, ask “why” five times to get to the root cause.
- Cull information and opinions from multiple people.
- Use creativity to find low-cost, small improvements.
- Never stop improving.
How Kaizen works
Kaizen is based on the belief that everything can be improved and nothing is status quo. It also rests on a Respect for People principle. Kaizen involves identifying issues and opportunities, creating solutions and rolling them out — and then cycling through the process again for other issues or problems that were inadequately addressed.
Decentralized autonomous organization
A decentralized autonomous organization (DAO), sometimes labeled a decentralized autonomous corporation (DAC), is an organization represented by rules encoded as a computer program that is transparent, controlled by shareholders and not influenced by a central government. A DAO’s financial transaction record and program rules are maintained on a blockchain. The precise legal status of this type of business organization is unclear.
A well-known example, intended for venture capital funding, was The DAO, which launched with $150 million in crowdfunding in June 2016, and was immediately hacked and drained of US$50 million in cryptocurrency. This hack was reversed in the following weeks, and the money restored, via a hard fork of the Ethereum blockchain. This bailout was made possible by the Ethereum miners and clients switching to the new fork