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KEIRETSU: A form of business structure common in Japan which involves an alliance of several businesses, each working toward the mutual success of the group. The alliance also has close ties to government. Each "independent" business owns stock in the others and shares executives and directors. Keiretsu can be either horizontally or vertically integrated. Horizontal keiretsu cluster around a major bank with business ventures in a wide variety of industries. Vertical keiretsu contain businesses in all production phases of a particular industry, from raw materials to production to marketing.
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LABOR The mental and physical human efforts used in the production of goods and services. This is one of four basic categories of resources, or factors of production. The other three are capital, land, and entrepreneurship.
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In his older years, Andrew Carnegie seldom carried money because he was offended by its sight and touch.
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"Success is the ability to go from one failure to another with no loss of enthusiasm." -- Sir Winston Churchill
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