What Japanese term describes a labyrinth of firms with long-term semi-formal relationships up and down the vertical chain?
A)Kaizen
B)Keiretsu
C)Kanban
D)Karõshi
E)Mochibun kaisha

Question

Quizplus · Accepted Answer

Keiretsu is a term that describes a group of firms with interlocking business relationships and shareholdings. These relationships are often long-term and semi-formal, creating a network of suppliers, manufacturers, and distributors that work together to maintain a competitive advantage. Keiretsu is common in Japan and has been credited with aiding Japan's economic growth during the post-World War II period.

What Japanese Term Describes a Labyrinth of Firms with Long-Term