Tiffany & Co
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Company is Tiffany & Co
Use the questions below as the outline of your paper:
1. What COMPANY, INDUSTRY, AND VALUE CHAIN are you studying?
2. What is your company's size, market capitalization, competitive strategy, principal competitors, and primary and secondary stakeholders? What ethical/social responsibility ratings has the company received? From whom? When? Why?
3. What ETHICAL RISKS are particularly common in your company's value chain? Industry?
4. Define a single ethical risk that is strategically dangerous to your company, and why it so dangerous.
5. Describe in detail a specific example of your company's experience with this ethical risk within the last five years. What was done, by whom, to whom? What were the consequences to stakeholders? To your company?
6. What tools for managing organizational culture was your company using at the time to MANAGE this ethical risk? What lessons - if any - did the company learn from its experience? What changes did your company make in its management of this risk?
7. Does your company report how it manages this ethical risk? How? Where? If it does, what does it say? If it does not, why do you think it does not?
Minimum 5 bibliographical references (Company website counts as ONE reference, regardless of number of times used as a source.)
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? Use the questions below as the outline of your paper:
1. What COMPANY, INDUSTRY, AND VALUE CHAIN are you studying?
The company that I am studying is Tiffany & Co. This company is a US based jewelry and silverware company. The company is associated with Tiffany Blue. It has now become a world famous luxury jeweler and a well recognized specialty retailer. Currently, 51% of its fiscal sales in 2010 have been in the Americas region. The Asia Pacific region accounts for 18% of its sales and Japan accounts for 18% of its sales, Europe accounts for 12% of its sales. It sells its products through wholesalers, business-to-business, company stores, and through the internet.
With regards to the jewelry industry it is sensitive to the state of the economy but the jewelry sales even during difficult economic time plateau. One of the strong trends of the present is the mixing of the fashion and fashion icons of the past periods with modern classic pieces. These jewelry trends mix lead to a close association between a specific time period and from different eras. In short vintage costume jewelry is making a comeback
The value chain that I am studying is that of Tiffany & Co. It has focused on sourcing its own diamonds. Way back in 1999 it purchased 14. 6 percent stake purchase in Aber Diamond Corporation. The agreement gave Tiffany & Co a minimum of $50 million per year in diamonds, annually for 10 years at a pre-determined discount of the market price. The purpose was to reduce the dependence on DeBeers, the world leader in diamond production. .
2. What are your company's size, market capitalization, competitive strategy, principal competitors, and primary and secondary stakeholders? What ethical/social responsibility ratings has the company received? From whom? When? Why?
Tiffany & Co's current market capitalization is 7.94 Billion, the total assets of Tiffany & Co are $3.73 billion, and the revenues of Tiffany & Co are $3.98 billion. The strategy of Tiffany & Co is to differentiate itself on the basis of its brand recognition. This differentiation as well as premium pricing is possible because the brand has got associated with quality, prestige and value. The company has over the years developed its prestige and positioning based on important events. For instance, Tiffany & Co revised the Great Seal of US in 1885. The company made a revision to the Medal of Honor given by the US Navy. The company has been commissioned in the past to design the White House china service, and developed 10 model only mobile phones that has more than 400 diamonds (Tiffany & Co, 2011). The company's principal competitors are Bulgari S.p.A., LVMH Moët ...
Education
- BSc , University of Calcutta
- MBA, Eastern Institute for Integrated Learning in Management
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