We are an outgoing college students, we've decided to choose a Japanese name for our class. We want it to be meaningful, it should represent our ambitions to grow and further improve ourselves. We also want it to be applicable in business, our seniors chose the word "Kaizen" as their class name, we want to have something as meaningful as well. However, when I searched online, 'akasuki' means 'I like red' which is different from what we initially thought.
Akasuki is not a Japanese word. It might be analyzed as a sentence, Aka, suki ("Red, (I) like"), but of course it's not suitable as a name.
There is a word akatsuki (あかつき in hiragana, 暁 in kanji), meaning "dawn". This may be the word you are looking for, and it's a nice word suitable for names. But it's not a word that means something complicated like "bright improvement".
By the way, kaizen is a prosaic word that simply means "improvement" in Japanese. Japanese Wikipedia does not have an article for it because it's just a word with no significant meaning worth notable in an encyclopedia. If it has a special meaning in English, it may be called an 英製和語.