Harvard Case - Forever: De Beers and U.S. Antitrust Law
"Forever: De Beers and U.S. Antitrust Law" Harvard business case study is written by Jennifer Burns, Debora L. Spar. It deals with the challenges in the field of Business & Government Relations. The case study is 25 page(s) long and it was first published on : Feb 1, 2000
At Fern Fort University, we recommend De Beers to adopt a multifaceted strategy that balances its historical dominance with the evolving landscape of the diamond market. This strategy should prioritize transparency, innovation, and ethical sourcing while navigating the complexities of international business and antitrust regulations. This approach will ensure De Beers' continued success while fostering a more sustainable and equitable diamond industry.
2. Background
The case study focuses on De Beers, the world's leading diamond producer and distributor, and its historical struggle with U.S. antitrust laws. De Beers' dominance in the diamond market, achieved through a combination of strategic partnerships, control over supply, and marketing campaigns, drew scrutiny from the U.S. government. The case highlights the tension between business and government relations, particularly in the context of globalization and trade.
The main protagonists are:
- De Beers: A multinational corporation with a long history of controlling the diamond market.
- The U.S. Government: Concerned with De Beers' monopolistic practices and their potential impact on consumers.
- The Diamond Industry: Comprised of other producers, distributors, and retailers who are affected by De Beers' actions.
3. Analysis of the Case Study
The case can be analyzed through the lens of competitive strategy and corporate social responsibility. De Beers' historical dominance was built on a strategy of control, influencing supply and demand through price fixing and market manipulation. This approach, while successful in the past, became unsustainable due to increased competition and evolving consumer expectations.
The U.S. government's intervention forced De Beers to adapt its strategy. The company faced the challenge of balancing its business interests with the need to comply with antitrust legislation and international regulations. This situation highlights the critical role of government policy and regulation in shaping global markets.
Furthermore, the case emphasizes the growing importance of corporate social responsibility in the diamond industry. Consumers are increasingly demanding ethical sourcing and transparency from companies, particularly in sectors like diamonds, which have historically been associated with conflict and exploitation.
4. Recommendations
De Beers should implement the following recommendations to navigate the current landscape:
- Embrace Transparency and Ethical Sourcing: De Beers should proactively engage with stakeholders, including consumers, NGOs, and governments, to demonstrate its commitment to ethical sourcing practices. This includes disclosing its supply chain, promoting responsible mining practices, and supporting initiatives that promote sustainable development in diamond-producing countries.
- Focus on Innovation and Differentiation: De Beers should invest in research and development to create innovative products and services that cater to evolving consumer preferences. This could include exploring new diamond technologies, developing unique jewelry designs, and expanding into complementary markets like luxury goods.
- Build Strategic Partnerships: De Beers should foster partnerships with other industry players, including smaller diamond producers, retailers, and technology companies. This will help create a more collaborative and competitive market, reducing the risk of antitrust scrutiny.
- Engage in Active Lobbying and Advocacy: De Beers should actively engage with governments and international organizations to advocate for policies that support the diamond industry's sustainable growth. This includes promoting fair trade practices, advocating for responsible mining regulations, and lobbying for favorable tax policies.
- Embrace a Long-Term Perspective: De Beers should adopt a long-term vision that prioritizes sustainable growth and responsible practices. This will ensure the company's long-term success while contributing to a more ethical and responsible diamond industry.
5. Basis of Recommendations
These recommendations consider the following factors:
- Core Competencies and Consistency with Mission: De Beers' core competency lies in its expertise in diamond production and distribution. The recommendations leverage these strengths while aligning with a mission of sustainable growth and ethical sourcing.
- External Customers and Internal Clients: The recommendations address evolving consumer expectations for ethical sourcing and transparency while ensuring the company's long-term profitability.
- Competitors: The recommendations acknowledge the increasing competition in the diamond market and encourage a more collaborative approach to foster a sustainable industry.
- Attractiveness ' Quantitative Measures: The recommendations are expected to improve De Beers' financial performance through increased sales, improved brand reputation, and reduced regulatory risk.
6. Conclusion
De Beers has a unique opportunity to shape the future of the diamond industry. By embracing transparency, innovation, and ethical sourcing, the company can navigate the complexities of antitrust regulations and consumer expectations while ensuring its long-term success. This approach will contribute to a more sustainable and equitable diamond market, benefiting consumers, producers, and the industry as a whole.
7. Discussion
Other alternatives include:
- Maintaining the status quo: This carries significant risks of continued antitrust scrutiny, reputational damage, and potential legal action.
- Aggressive market expansion: This could lead to increased competition and potential antitrust violations.
The recommendations have the following key assumptions:
- Consumers will continue to demand ethical sourcing and transparency.
- Governments will continue to prioritize fair trade and responsible mining practices.
- De Beers will be able to adapt its business model to meet these evolving demands.
8. Next Steps
De Beers should implement the following steps:
- Within 6 months: Develop a comprehensive strategy for ethical sourcing and transparency, including a detailed plan for stakeholder engagement.
- Within 12 months: Launch a pilot program for innovative diamond products and services.
- Within 18 months: Establish strategic partnerships with key industry players.
- Within 24 months: Develop a robust lobbying and advocacy strategy to influence government policies.
By taking these steps, De Beers can secure its position as a leader in the diamond industry while contributing to a more sustainable and ethical future for the sector.
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Case Description
For over a century, the international diamond market has been dominated by one of the most successful cartels on earth. Run by the legendary De Beers Corp., the cartel has managed to keep diamond prices increasing and to prevent the defection that dooms most other "orderly marketing arrangements." It has also managed to uphold one of the greatest marketing coups of history: convincing millions of customers that diamonds are actually rare and therefore highly prized. There is only one problem for the cartel. It is illegal in the United States (the world's largest market for gem diamonds) and has been under constant attack by the U.S. Justice Department. The case describes how De Beers has dealt with this problem in the past and how, in the late 1990s, changes in the African political situation and the world diamond market may suggest a new relationship with the U.S. government.
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