Surviving the recession: venus jewel -a case study from the Indian diamond industry

Abstract

The Indian diamond industry witnessed a severe recession in the year 2008. The industry is already showing signs of recovery in 2009 led by its large-sized firms. This case presents facts from a study conducted in a large-sized Indian diamond processing firm which has existed for the last 40 years and led the revival of the industry. It includes description of the company policies, management practices, innovations, the organization structure, and other unique systems. It also describes the exemplary business acumen and leadership qualities of the founder of the unit of our case. Besides, this is the first such study conducted in the Indian diamond industry which has otherwise remained undocumented in spite of an extraordinary global performance.