Question

Japanese manufacturing firms sometimes create cooperative coalitions with their suppliers in order to provide the suppliers with a certain degree of financial support. What are these cooperative coalitions called?

1) Jidoka Networks
2) Keiretsu Networks
3) Kanban Networks
4) Kaizen Networks

Answer 1

Keiretsu Networks are the cooperative coalitions created by Japanese manufacturing firms to provide financial support to their suppliers.

The cooperative coalitions referred to in the question are called Keiretsu Networks. These networks are a unique feature of the Japanese business system, where large manufacturing firms form long-term relationships with their suppliers, providing them with financial support and assistance. Keiretsu networks help to ensure a stable supply of quality components and materials for the manufacturing firms, while also contributing to the growth and success of the suppliers.

An example of a keiretsu network is the Toyota Production System, where Toyota forms cooperative relationships with its suppliers to ensure just-in-time delivery of parts and components. This allows for efficient production processes and quality control.