Hi, need to submit a 3000 words paper on the topic Business Ethics At The Diamond Trade.

Hi, need to submit a 3000 words paper on the topic Business Ethics At The Diamond Trade. The nickname of “conflict diamonds”, in years past the world has seen stories published of the manner in which these gems are gathered and the nature of the conditions in which people are expected to work in order to collect these delicate wonders. In light of the horrific nature of the issues surrounding these diamonds, the United States Congress has set forth with its views upon the issue. With the laws that have been put into place both nationally and internationally to try and combat the problems involved with the trade, one thing is for sure. That is, diamonds are a gem which, in a very considerable way, has influenced the lives of many people through history and up until the present day.

Major companies, as well as nations, benefit to a great degree when it comes to the transport and sale of the diamonds which they bring out of the regions for which they work. As a participant in such affairs, the companies themselves can face a harsh reality of needing to separate themselves from the crisis at hand as a means of ensuring their profitability at home, as well as abroad. One such company would be De Beers. “De Beers, the company which dominates world diamonds, hopes to maintain both its share of the market and the reputation of its gems. At stake, among other things, is the prosperity of Botswana. The right to extract diamonds there is shared 50-50 between its government and De Beers (AC Vol 42 No 14) through the Debswana company, which produces 70 percent of De Beers Southern African gems, 80 percent of Botswana’s export income and half of its governments’ revenue. Botswana accounts for 70 percent of the production of all De Beers controlled diamond mines. South Africa and Namibia form 30 percent. Yearly, Botswana produces 20-30 percent of the world total,” Going on to say that, “The reputation, and therefore the&nbsp.price, of diamonds, is endangered by the notorious trade in ‘blood diamonds’, which has fuelled the civil wars in Angola and Sierra Leone.

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