Read The Case study and answer the last three questions.

SPOTLIGHT #3 Tiffany \& Co Tiffany \& Co.'s roots date back to 1837, when founder Charles Lewis Tiffany opened a "stationery and fancy goods" store in New York City. Tiffany's first store quickly became the go-to destination for fashionable ladies looking for high- quality jewels and timepieces. By 1848, Tiffany had estab- lished the store's focus on fine jewelry. He hired dozens of artisans to create jewelry in a workshop located above the storefront at a time when most jewelers were simply retailers. The company has contributed to IRMA's mission by Tiffany sought to express his own style of American jewelry investing in the environmental and economic development that demonstrated natural beauty and simplicity. By the late its mining sites. For example, Tiffany \& Co. trained its workers 19th century, Tiffany \& Co. had acquired its own facilities to in Botswana-where 98 percent of Tiffany's polishers are cutandpolishdiamonds,whichgavethegemsaconsistent,nowbasedtocutandpolishdiamonds,providinglocalsqualityfinish.withjobopportunitiesandenrichingBotswanaseconomyby qualityfinish.DiamondsandpreciousmetalsexplodedinpopularitywithjobopportunitiesandenrichingBotswanaseconomyby$50million.Thecompanyhasalsomadeextensiveeffortsto 486 PART 7 MANAGING GROWTH Page 2 of 2 the company's vertical integration, which allows it to control 2. Should Tiffany advertise the fact that it is supporting varisourcing of diamonds and precious metals. This aspect of ous social and environmental initiatives? Why or why not? Tiffany \& Co.'s supply chain has given it a competitive edge 3. How important is it for Tiffany to have a chief sustainand has become a crucial part of its brand image. 54 ability officer (CSO)? What are the advantages and Questions responsible for designing and implementing corporate 1. Should a luxury company actively engage in corporate social responsibility programs? social responsibility? What are the pros and cons of this decision