3 Key Concepts Flashcards
What was the purpose of the CSO?
The Central Selling Organisation (CSO) controlled diamond prices by buying and holding supplies until demand increased.
Which is more valuable - diamond jewelry or rough diamond crystal?
A finished piece of diamond jewelry has much greater value than a rough diamond crystal.
How was is that Argyle’s small, lower-quality stones could be processed for the jewelry market?
The low-wage Indian cutting industry allowed Argyle’s small, lower-quality stones to be processed for the jewelry market.
What is beneficiation?
Beneficiation helps countries exercise greater control over their natural mineral resources.
What caused De Beers to institute such dramatic changes in the late 1990s.
New diamond supplies combined with major political and economic events led De Beers to institute dramatic changes.
What was required of SOC sightholders?
SOC sightholders had to demonstrate the ability to sell diamonds and to add value to those diamonds in some way.
De Beers’ efforts at reinvention proved to be an evolving process.
De Beers’ efforts at reinvention proved to be an evolving process.
Which has a greater impact on the industry - advocacy of corporate responsibility or advocacy of branding?
De Beers’ advocacy of corporate responsibility had a more profound impact on the diamond market than its advocacy of branding.
What makes India a major force in the new multi-channel market?
India’s diamond manufacturing industry makes it a major force in the new multi-channel market.
Electronic retailing affected sales in what way?
Electronic retailing showed an ability to sell a huge volume of diamonds without relying on the “personal touch.”
The future of the diamond market in manufacturing and consumption is expected to be strongest where?
The future of the diamond market in manufacturing and consumption may be in Asia, especially China and India.
