X , literally meaning a wealthy faction or a group, is a term used for a group of very successful group of entities which have become the face of the their country’s economy. The organisation of X is essentially family based and involves central leadership and organisation with subsidiaries for export.
Y is easily misunderstood to be very similar to X in terms of its structure and working. But, thats more true of Y’s predecessor. Y’s success in its own country and worldwide has been attributed to a more horizontal organisation and active tie-ups with large banks giving it unlimited access to money.
Id. X and Y.
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X-Conglomerate
Y- keiretsu
X: Chaebol
Y: Keiretsu