blue nile

I attest that this document is an original creation submitted in accordance with the requirement for the Comprehensive Written Project (CWP) in Seminar in Business Strategy (GB-5388) during the Fall 2015 academic term.

The companies that are competing in this industry are Blue Nile, Zales, Tiffany 's, Online Jewelry Stores (Diamonds.com, etc…), and Local Jewelers. The Rivalry among the competing sellers is strong because there are many competitors and they are basically offering the same product. Also, the costs buyers experience when switching brands are low.

Pearce, John A. , & Robinson, Richard B. . (2009). Strategic management. formulation, implementation, and control. United States: McGraw-Hill.

G.G. Dess, G.T. Lumpkin, M.L. Taylor, A.A. Thompson, and A.J. Strickland III, Strategic Management (Boston, McGraw Hill, 2004) pp. 141-148.

Pearce, J. A., II, Robinson, R. B. (2011). Strategic management: Formulation, implementation, and control (12th ed.). Boston, MA: McGraw-Hill/Irwin

Hunger, J. D., & Wheelen, T. L. (2011). Essentials of strategic management (5th ed.). Upper

Bluenail Company article , this company is a littel bit simmlar to the Dee Beers story purpose. It is to educate the readers and the buiers about the quality of Diamonds and to pursuade them to buy, and convencing them by giving them the chance to know theier favoraite type of diamond and its color , the ring size chart of their fingers, and the unbeliveable

The story of these infamous diamonds all started with a fifteen year old who found a diamond in his father 's arm. The diamond business started in 1935 when “De Beers” took all control over dining prospects in Sierra Leone. De Beers are a group of companies has a main role in the exploration of diamonds, as well as diamond mining, diamond retail, diamond trading, and industrial diamond manufacturing sectors.This group was founded in 1888, and they are responsible for the problems Sierra Leone is facing today. These diamonds can be found in volcanic pipes. Diamonds are a pure form of carbon in a transparent state. Diamonds have always been a sign of wealth. Historically kings and queens were known for wearing these. Over time many people began lusting over them.

Baye, M.R., Prince, J.T. (2014). Managerial Economics and Business Strategy. New York, NY: McGraw-Hill Irwin

Strategy formulation has been acknowledged as one of the most crucial factors of ensuring the long-term growth of the business. However, the manner in which strategy is formulated, and most importantly, the nature of the strategy chosen for the company determines its future position in the marketplace (Grant, 2005).

Blue Nile’s business model is to offer high-quality diamonds and fine jewelry at competitive and attractive prices. Blue Nile strives to provide customers with useful information throughout the buying process, including educational information such as grading reports on the diamonds.

Kim, W. Chan, and Renée Mauborgne. "Blue Ocean Strategy." Davidhenard.com. Harvard Business Review. Web. 22 Oct 2013. .

I have done research on Mr Price clothing stores as a division and I will use the Blue Ocean strategy namely, a swot analysis, porter five force model, integration of sales and other costs, the attached newspaper article as well as a quantitative risk assessment. It is through these factors in which I will assess their already existing strategic plan and to think creatively to draft a viable strategic plan for the company’s future and to also give recommendations on how to improve.

Color. Clarity. Cut. Carat Weight: These four words are what jewelers in the industry use to determine the monetary value of a diamond. However in 1947 De Beers found a way to not only boost their sales but also make a psychological necessity out of this sparkly stone, and it all began with four vastly different words, “A Diamond Is Forever” (Frances Garety), and accompanied by phrases such as “Isn’t two months’ salary a small price to pay for something that lasts forever (N.W. Ayers)?

Hill, Charles W. L. and Gareth R. Jones. Strategic Management: An Integrated Approach. Mason, OH: South-Western Cengage Learning.