Research Paper from the year 2011 in the subject Business economics
- Business Management, Corporate Governance, grade: A, University
of Kent, course: BA, language: English, abstract: In spite of the
pessimistic worries of the global economy, in 2011 the global
diamond industry performed successfully beyond expectation. A total
of 124 million carats of rough diamonds, which is worth of $15
billion, were excavated (AWDC, 2013). According to the industry
consulting organization, Bain & Company (2013), "those stones
were worth $24 billion after moving through the chain of dealers,
cutters and polishers, on their way to making diamond jewellery
worth $71 billion at retail." They also reported that compared to
2010, the global diamond sales significantly increased by 18% to
$71 billion, close to the 2007 peak of $73 billion before the
crisis. IDEX (2013) and Tacy LTD (2013) indicated that the majority
of growth contributed to the mounting demand from Chinese and
Indian markets. De Beers, which is reviewed in this proposal as an
example of the world's leading diamond company for more than a
century, reached their second highest level of sales ever to $6.5
billion in 2011. In the 1990s an issue of "conflict diamonds" or
"blood diamonds" was heatedly debated across the globe. The diamond
industry encountered the crisis from their diamond sourced
countries. In several politically unstable African countries, such
as Angola, Sierra Leone, Liberia, the Democratic Republic of the
Congo, the diamond mines were under control of the military as a
means to finance their military power. With the media's widespread
coverage and the movie "Blood Diamond," the transactions between
diamond buyers and the military, although not all from such illegal
channels, were regarded as intensifying violent tribal conflict.
Consequently, the reputation of the diamond industry was blackened
(The Kimberly Process, 2013; Pauwelyn, 2003; Worldbank.org, 2013).
In response to this situation, the Kimberle
General
Is the information for this product incomplete, wrong or inappropriate?
Let us know about it.
Does this product have an incorrect or missing image?
Send us a new image.
Is this product missing categories?
Add more categories.
Review This Product
No reviews yet - be the first to create one!
Welcome to Loot.co.za!
Sign in / Register |Wishlists & Gift Vouchers |Help | Advanced search
(7)
(4)
