Business Analysis The De Beers Group Essay - 1143 Words

The De Beers Group, the dominant agent in the diamond mining, industrial diamond manufacturing and diamond trading sectors, has a significant mining presence in Botswana, Namibia and South Africa. Africa’s recent history is characterised by the West’s inexorable exploitation of African natural resources, resulting in a continent plagued by corruption, violence and slow development. Through committing to the ‘Living up to Diamonds’ initiative, De Beers aims to create lasting contribution to the communities in which the family of companies operate in (ENP Newswire, 14 June 2011). In a continent notorious for placing profits and monetary returns over human development, the De Beers management of Botswana’s diamonds goes against the trend of†¦show more content†¦The desire for companies to record high profits may sometimes compete with their desire to make ethically or morally sound decisions. The concept of corporate social responsibility is similar to ethics in that it is concerned with distinguishing right from wrong, ‘social responsibility’ refers to the obligation of leaders and managers within an organisation to make decisions and take actions that enhance the welfare and interests of both society and the organisation (Samson Daft, 2009). Organisations now face pressure to perform well on three disparate aspects – the â€Å"triple bottom line† of â€Å"people, planet, profit† – three indicators that describe corporate aims to address social concerns such as environmental pollution and natural-resource depletion, taking the needs of disadvantaged people and future generations into account, as well as companies’ productive output. The ‘classical view’ and the ‘socio-economic view’ are two opposing perspectives related to the concept of corporate social responsibility. Proponents of the classical view believe that â€Å"managements’ only social responsibility is to maximise profits by operating the business in the best interests of the stakeholders of the corporation† (Maragos, Lecture 12), and thatShow MoreRelatedShould Diamonds Cost so Much? Essay1132 Words   |  5 Pagesdictionary) formed to prevent the market from becoming flooded with diamonds from too many suppliers, resulting in a price drop. This essay will argue for the statement that the price of diamonds is too high. It will analyse the diamond market as well as De Beers control over the diamond market and explain how the diamond cartel managed to gain almost complete control over all operations. Finally it will comment on weather a diamond ring is a suitable engagement ring. In the nineteen hundreds diamonds wereRead MoreDiamond Industry2155 Words   |  9 PagesIndustry Analysis Diamond Industry (Gem Based diamonds) The Diamond industry is essentially broken up into 3 segments: 1. 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However, the compressed carbon stone is worth less than anyone would imagine, which is why De Beers has been so successful, which, thanks to a good use of marketing as well as strategy, has led theRead MorePoverty In The Film Blood Diamond1564 Words   |  7 Pageswell-being of its people. However, in the film Blood Diamond it is made clear that there is an exploitation of the people in Sierra Leone. This economic problem is fueled by three main concepts; poverty, production/resources and demand/supply. T hrough the analysis of the three main concepts it will be shown how the economic problem was the result of each sub-concept. Poverty In Blood Diamond we see examples of both the working poor-Solomon Vandy, and the absolute poor- those living in utter destitutionRead MoreDe Beers Environmental Impacts1907 Words   |  8 PagesUnit Title: Communication in Business 100 Assessment: Critical Essay Company: De Beers Essay Title: Corporate Environmental Obligation: An examination of the performance of De Beers Student Name: Arkar Kyaw @ Kevin Student Number: 1160001 Semester: 1 2011 Campus: Bentley Tutor: Simon Teoh Corporate Environmental Obligation: An examination of the performance of De Beers Nowadays, diamonds are one of the most precious luxury items where people are purchasing