Overview Founded in 1999, Blue Nile had grown to become the largest online retailer of certified diamonds and fine jewelry, with sales of $203.2 million in 2005 (up from $169.2 million in 2004). According to Internet Retailer Magazine, in 2006 Blue Nile was larger than the next three largest online jewelers combined; the magazine had ranked Blue Nile No. 48 in its Top 400 Guide to Retail Web Sites; in its December 2006 issue, the magazine went a step further and named Blue Nile an Internet
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gemstones. Diamond powder can be used to polish gemstones. This is because diamond has an extremely strong structural formation, where the atoms are arranged in a manner when they have the inability to maneuver. With the strong atom arrangement of this allotrope it allows diamond to be an ideal tool to scrape away dirt particles of gemstones, leaving the remaining surface smooth and with the absence of any rough areas.
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Diamond stores in New York City are found in what they call as the "Diamond District". Diamond District is located at the 47th street of New York City. The Diamond district began at the Centuries-Old Hasidic Community from Eastern Europe particularly Antwerp and Belgium. During the 15th Century, Jews have an exclusive and distinct relationship with the diamond industry. During those times, Jewish people were given limited work choices. One of those choices available is to work in a diamond industry
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Transport Phenomenon (Electrical and Thermal) in two allotropic forms of Carbon (Diamond and Graphite) Graphite and Diamond both are formed from carbon (two allotropic forms of carbon). Though they have similar constituent element, they differ a lot in their properties. Diamond is a good thermal conductor but a bad electrical conductor, while graphite is a bad thermal conductor but a good electrical conductor. This is one example of their property difference. The difference in their properties
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Multifaceted Strategy Shift Faced with such challenges as new sources of competition and suspicion about conflict diamonds, Gareth Penny had to rethink the basics A diamond may be forever, as De Beers' famous advertising slogan contends, but is the same true of a business model? That was the question facing Gareth Penny, managing director of De Beers, in the late 19'90s, when the famed diamond cartel found itself beset by a series of events that ultimately forced it to examine and then retool its business
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De Beers and the Conflict Diamonds De Beers is the most recognizable name in the diamond industry and since it was established in 1888 by Cecil Rhodes; the company have been linked to the “blood diamond” trade because for a long time they had the control of supply and demand of the diamond industry. De beers dominated the diamond market for the best part of the 20th century, but the creation of synthetic diamonds and the discovery of new diamond deposits in other countries have created new challenges
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curse.” Blood Diamonds When thinking about diamonds, many people automatically think of love and happiness due to engagement rings and wedding bands and the commercials that continuously play on television. This is certainly not the case, and many people are missing this fact from this 81.4 billion dollar industry (Baker). Diamonds, especially in the Congo or Sierra Leone, are a symbol of conflict and war, and unhappiness. The United Nations defines conflict diamonds as diamonds that originate
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“Blood Diamond” is directed by Edward Zwick. This movie is considered as one of the great movies because the diamonds mined at Africa are traded in exchange for firearms and other weapons which are used in civil wars, coups and cruel military dictatorships, and what makes the story interesting is that, which side is worse? Is it the government or the rebels? So the first thing we see in this story if we will relate it to economic situation is that, people face tradeoffs. RUFs mine diamonds and sell
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Conflict Diamonds and the Kimberly Process What this case is about was that ion the 2000’s, a common concern emerged among members of the diamond industry, the United Nations, several governments and Human Rights campaigners who all wished to end the trade in Conflict Diamonds which were gemstones that were being mined or stolen by rebels fighting internationally recognized governments. To end this, they embarked an unusual collaboration called the Kimberly Process. The Kimberly Process
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Unethical Values Within De Beers Consolidated Mines Limited De Beers Consolidated Mines Limited is a South African-based mining and trading company, which controls the flow of diamonds in the United States marketplace (Aurora, 2008). De Beers distributes diamonds, ships them, and distributes them to significant intermediaries, wholesalers and retailers (Atkinson, 2000). 1. Unethical behaviour: Unfair trading and competition The first unethical conduct identified within the De Beers example is
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