De Beers and Business Strategy
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In this article, the writer notes that the Supplier of Choice (SOC) program, which De Beers formed as part of its overall business strategy, consisted of four aspects that moved the diamond industry from the free-wheeling market it had been to a more consistent and standardized industry. The writer discusses that the primary functions that the SOC serves are to elevate the performance and quality standards of the supplier network across the diamond industry by requiring them to meet minimum performance criteria related to finance, manufacturing, distribution and ethics.
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