documentclass[tikz,border=10pt]{standalone}
usetikzlibrary{decorations.text}
definecolor{mygray}{RGB}{208,208,208}
definecolor{mymagenta}{RGB}{226,0,116}
newcommand*{mytextstyle}{sffamilyLargebfseriescolor{black!85}}
begin{document}
begin{tikzpicture}
   fill[mymagenta] circle (1.35);
   node at (0,0) [
      font  = mytextstyle,
      color = white,
      align = center
   ]{
      PDCA\
      Cycle
   };
   pgfmathsetmacro{mydist}{2}
   pgfmathsetmacro{Radius}{2}
    foreach X [count=Y] in {PLAN,DO,CHECK,ACT}
    {pgfmathtruncatemacro{itest}{sign(sin(180-mydist-90*Y))}
    ifnumitest>0
    draw[mygray,line width=1cm,postaction={decoration = {
         text along path,
         text = {|mytextstyle|X},
         text align = {align = center},
         raise = -1.0ex
      },
      decorate}] (180-mydist-90*Y:Radius) arc(180-mydist-90*Y:90+mydist-90*Y:Radius);
    else
    draw[mygray,line width=1cm,postaction={decoration = {
         text along path,
         text = {|mytextstyle|X},
         text align = {align = center},
         raise = -1.0ex
      },
      decorate}] (90+mydist-90*Y:Radius) arc(90+mydist-90*Y:180-mydist-90*Y:Radius);
    fi
      }
end{tikzpicture}
end{document}