What is the name of the group that categorizes potential wastes within a business?

The group that categorizes potential wastes within a business is known as the "Eight wastes." This concept is foundational in lean manufacturing and management, as it identifies specific types of waste that can occur in processes and operations. Understanding these wastes allows organizations to analyze their workflows and minimize inefficiencies, improving productivity and reducing costs.

The Eight wastes include overproduction, waiting, transporting, inappropriate processing, unnecessary inventory, unnecessary/excess motion, defects, and unused talent. By focusing on these categories, businesses can implement strategies to eliminate or reduce waste, enhancing overall performance and value delivery.

The other options touch on relevant concepts in waste management and efficiency, but they do not specifically refer to the established classification of waste types. The waste hierarchy is a principle that prioritizes waste management strategies, while "Five wastes" and "Lean principles" relate to broader methodologies and concepts, but they do not provide the detailed categorization that the Eight wastes offer.