"You are, at this moment, standing right in the middle of your own 'acres of diamonds'". Earl Nightingale said that aforementioned quote and I would like to think that this is exactly what the De Beers Group thought when they started their company over a century ago. In this essay, I will focus on the The De Beers Group's efforts to help governments, their global dominance, and why they would be better off using a global strategy over a multinational one when it comes to their business. .
The mission statement at De Beers is, "Together with our joint venture partners, De Beers mines for diamonds across Botswana, Canada, Namibia and South Africa. As part of the company's operating philosophy, the people of De Beers are committed to living up to diamonds by making a lasting contribution to the communities in which they live and work. In the countries in which we have mining operations, this means carrying out profitable business, while at the same time helping governments achieve their aspirations of turning natural resources into shared national wealth." .
The line that was most interesting to me was, "helping governments achieve their aspirations of turning natural resources into shared national wealth". Upon further research the De Beers group was not lying but also not telling the exact truth. They have mines all over the world including Namibia, Botswana, and South Africa. In Namibia, De Beers operates through Namdeb Holdings (Pty) Limited, a 50/50 joint venture between the Government of the Republic of Namibia and De Beers (Zaamwani-Kamwi, De Beers Operating and Financial Review, pg.16). A separate company that is created and jointly owned by two or more independent entities to achieve a common business objective is called a joint venture (Wilde, pg. 351). In Botswana, De Beers operates through Debswana, a 50/50 joint venture partnership between the Government of the Republic of Botswana and De Beers (Gowans, De Beers Operating and Financial Review, pg.