Internal Analysis of Tiffany & Co
Being a luxury jewelry company, Tiffany & Company, also known as Tiffany or Tiffany’s has various functional areas. The company is involved in manufacturing, producing, distributing, and selling its products. For this reason, the company has functional areas such as the Raw Materials Department, Research and Development Department, Production/Manufacturing Department, Distribution Department, Sales Department, among others.
Raw Materials Department
As a dealer in jewelry products, Tiffany & Co. gets its raw materials from mines and various suppliers of the minerals the company needs. It is reported that, owing to its concern for the environment and welfare of miners, Tiffany & Co. gets all its diamonds from mines that are and from credible suppliers (Hower, n.p). This is in line with the company’s corporate social responsibility. Tiffany & Co. gets much of its raw materials directly from the countries where the mines are produced. For instance, the company gets its diamond from diamond-producing countries such as South Africa, Botswana, Australia, Canada, Russia, Namibia, Russia, and Sierra Leone (Annual Report, n.p).
Research and Development Department
Research and Development Department is at the core of a jewelry company such as Tiffany & Co. at Tiffany & Co., this department is constantly working to make the company an international trend-setter. Thus, the team constantly develops new collections for
Macy’s Inc. competes with other major players in the Department Store Retail Industry as well as with discounter, luxury stores, specialty stores, mail order and pure play internet retailers. Key competitors include Sears, J. C. Penny, Kohl’s, Nordstrom,
Macy’s Inc. is one of the oldest enterprises in the United States, belonging to the department stores industry. (Hoovers.com) It is a national brand, owning 850 department stores. During the development of the company, there had several key decisions that were beneficial for the company. However, in recent years, the competitions in department stores industry become more and more serious.
Facts: Greene’s Jewelry primary asset is its patented process for creating a material called “Ever-Gold,” which is used in the making of jewelry. The company is based in Derry, New Hampshire, which currently owns a warehouse and two storefronts and employs 502 personnel. Jennifer Lawson was deemed as a professional, articulate, diligent and skilled worker; with the exception of routine tardiness, receives high marks on annual reviews. Jennifer Lawson as well as other junior executive secretaries are terminated due to downsizing.
Research and development (R&D) rests in the notion that innovation begins with an act of scientific research or discovery (Laestadius 2003). Many large firms generate and develop innovative ideas through formal research and development units. Although
The annual report and 10-K filings were obtained from macys.com. The financial statements included in the annual report are as follows: consolidated statements of operations, consolidated balance sheets, consolidated statements of changes in shareholders’ equity, consolidated statement of cash flows, and notes to consolidated financial statements. In the report, Macy’s Inc. recognizes several competitors which are Bed Bath & Beyond, Belk, Bon Ton, Burlington Coat Factory, Dillard’s, Gap, J.C. Penney, Kohl’s, Limited, Lord & Taylor, Neiman Marcus, Nordstrom, Saks, Sears, Target, TJ Maxx and Wal-Mart. The top three
Warren Buffet once said, “Price is what you pay. Value is what you get.” With a company that has over five hundred employees, four locations worldwide, and $50 million in annual sales, placing the value on the organization is simple; look at the bottom line and see the profit. This is the situation at Riordan Manufacturing where the price it paid to do business was less than what it made, defining a clear value in what Riordan provides. Riordan’s Sales and Marketing department has a clear value; $50 million is sales to show of it. But how do we show the value for other departments within the organization such as Information Systems (IS) and Information Technology (IT) solutions? While
Also, there needs to be a more defined definition of a blood diamond (“War on Blood Diamond Trade Loses its Lustre in Age of Digital”). The Central African Republic fails to realize that the diamonds being bought come from instances of executions, child labor, as well as looting (“Companies must Not Profit from Blood Diamonds”). Obviously, Africa is rich in minerals, which is its curse (Ainger et al.367: 9-27). Consequently, there has been 50 wars, fighting for control of resources. Political, social, and economical factors matter in these resource wars (Ainger, et al.367: 9-27). Recently, the Kimberly process fails to uphold in central Africa, Cameroon. As a result, Cameroon is flooding with conflict diamonds because of mediocre leadership along with corruption (“Conflict Diamonds from CAR Entering International Markets Via Cameroon”). This may be the effect after the African Republic was internationally embargoed in 2013 (“Conflict Diamonds from CAR Entering International Markets Via Cameroon”). Therefore, “As the Kimberley Process visits Cameroon, it must take action immediately and demonstrate to companies, retailers-and most importantly to consumers-that it is able to stop the flow of conflict diamonds," Offah Obale. Presently, the diamond industry is in a bit of a mix as the Kimberly process is expected to help countries receive clean diamonds in order to restore international market relationships ("War on Blood Diamond Trade Loses its Lustre in Age of Digital"). Now, it is known that the common life-span is estimated to be 34 years old in Africa, Sierra Leone. Also, “We have always maintained that the conflict is not about ideology, tribal or regional difference... The root of the conflict is and remains diamonds” says UN ambassador of Sierra Leone, Ibrahim Kamara. At the present time, there is a cease fire in the Republic of Congo since
Macy is one of the nation’s largest Omni channel retailers that just started off as a fancy dry goods store at the corner of 14th street and 6th Avenue in New York City in 1858. First-day sales totaled $11.06 but by the end of the first full year, sales grossed approximately $85,000. By 1918, R.H. Macy & Co. was generating $36 million in annual sales. In 1922 it began to open regional stores and take over competing retailers. On December 19, 1994 Federated Department Stores, Inc, which is now known as Macy’s Inc. acquired R.H. Macy & Co. Shortly after in 2000 Macy’s opened its first store outside of the continental United States in Puerto Rico. In June 2001, Federated purchased the Liberty House operations in Hawaii and Guam, bringing the proud Macy’s tradition and heritage to the Pacific. On February 28, 2005, Federated agreed to terms of a deal to acquire The May Department Store for $11 billion in stock, creating the nation 's second largest department store chain with $30 in annual sales and more than 1,000 stores. On July 28, 2005, Federated announced, based on the success of converting its own regional brands to the Macy 's name, its plans to similarly convert 330 regional department stores owned by the May Company. This is how Macy’s received its name which is recognized all over the U.S. Macy’s now serves customers through approximately 775 stores in virtually every major geographic market in the United States, as well as the macys.com
Simone Walsh is an Australian eco-friendly jewellery designer based in Adelaide in her home studio; dealing with recycled milled sheets and wires of silver and gold and gemstones. As an eco-friendly designer Simone promotes use of ethically mined gemstones and lab gemstones; and recycled products, by re-newing them and this can be seen via her collection of ‘recycled’ jewellery in which are made purely by spare pieces of metal from her other collections.
Annual sales are the revenue that a company derives from the sale of its products in a year. In the case of Macy’s, the annual sales for 2015 decreased $1,026 million or 3.7% compared to 2014. The Company encountered an overall weakness in sales, but geographically sales in 2015 were greater in the western and southern regions, where the weather was less of a factor, while sales at locations that are frequented by international tourists.
Tiffany&Co is an American luxury jeweller specialised in diamonds but also offering timepieces, silverware, crystal, fragrances and accessories.
Diamonds have been known to man since ancient times and with new technology of the 21st century many diamonds rich areas have been identified and supply chain been established in line with those reserves.
It is difficult to look at a diamond for what it truly is: a rock. The over-glamorization of diamonds has spiked an increase in diamond mining activity in Canada. As the name suggests, diamond mining is the excavation of these gemstones through a series of processes. Canada’s climate in the north provides the perfect environment for diamonds to spawn, thus reinforcing Canada’s position as the “third-largest diamond producers in the world.” The internet reimagined many things into current, popular trends. Similarly, the simpleness of diamond-encrusted jewelry was not enough; it opened up the possibilities of diamond-embellished cars, handbags, chess sets and even TV’s. However, there are many steps to undertake in order to successfully excavate
Have you ever glanced at your ring finger and admired the beautiful diamond on it? Now have you ever wondered where that diamond came from or how many lives were affected just to get it? Those are the questions you should ask yourself the next time you visit your local jewelry store for a visit. People worldwide should make an effort to stop buying conflict diamonds. They are funding wars in Africa everyday. Workers working in the mining business are in a danger zone. Innocent men, women, and children are getting caught in between the conflict and are being forced to work. If people would stop buying conflict diamonds from conflict areas, Africa would be a better and more productive place.
Jimmy Choo is a global accessories brand producing mainly shoes. The main focus on their products are glamour, style, craftsmanship, luxury positioning and it is a distinctive iconic brand . It is born in 1996 from an entrepreneurial start up partnership together with Mr. Jimmy Choo, OBE and Tamara Mellon. Jimmy Choo’s headquarters is located in London. In 1998, Jimmy Choo became an innovator in Hollywood, being the first accessory brand to offer award nominees and presenters customized shoes for their red carpet appearances. This helped the brand’s presence on the red carpet making it one of the most favored brands among the celebrities. Jimmy Choo was acquired by JAB luxury in 2011. They