Hello, everyone, this is Selina Wang. I am an independent contractor hired by DeBeers to assess their strategic plans over the past ten years. This assessment includes the analysis of DeBeer’s strategic plans, DeBeer’s current situation, the corporate culture of DeBeers and the plan DeBeers should use going forward.
Firstly, let’s talk about the strategic plans it had over the past ten years. In 2006, In order to implement the supplier selection plan, DeBeers company reduced the number of its sight holders from 120 to 80 and formalized business relationships with those that were chosen with a written contrast. The standard for being a sight holder was no longer based on financial strength and manufacturing capability but rather marketing ability. This event showed that DeBeers company chose the planning strategy of bench marking, it set rules and standards to its sight holders to increase competition and efficiency that could bring more benefits to the company.
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This event showed that the level of strategic plan this company chose was corporate level strategic planning. At the corporate level, top management will make decisions on the entire company’s goals, directions and actions. The top management of a corporation is responsible for the direction of the company and creating value. For this event, the upper management made the decision of shifting attention from the supply side to the demand side in order to create more benefits to the company. In my opinion, the level of strategic planning DeBeers chose was advisable since it can make decisions quickly to keep up the changes in market