DTC sightholders gathered in London last week for the annual DTC Business Excellence Seminar (BES), held at The Mandarin Oriental Hotel, Tacy reported. The Seminar entitled "Operating in the New Normal" was hosted by DTC Chief Executive Officer, Varda Shine.  
In her opening remarks, Varda Shine said: "the concept of the New Normal reflects not only the new economic realities that are being imposed on our businesses, but also the increasing opportunities that are afforded us by seeking to adapt quickly to the developing landscape." She went on to say that if companies are to succeed, evolution will be the watchword. It is in this spirit that DTC introduced the latest evolution to its Supplier of Choice distribution policy "so we can respond to the different world in which we now live."
Outgoing De Beers CEO, Gareth Penny then took the stage, speaking about the challenges the industry has faced since the creation of Supplier of Choice, as well as the challenges still ahead.
A series of breakout sessions then followed, with four guest speakers:
- Dr Tore Opsahl, Research Associate at Imperial College Business School discussed the role of social networks to spur business growth.  
- Dr Andrew Scott, Professor and Deputy Dean (Programs) at London Business School whose presentation focused on how economies normally recover from downturns and how this is affected by financial factors and how financial problems in developed nations are transmitted to emerging countries.  
- Dr Gemma Calvert, Professor of Applied Neuroscience at the University of Warwick, discussed how consumer behaviour is represented in the brain looking at how we actually make choices.  
- Dr Graham Baxter, Associate Director at the International Business Leaders Forum, highlighted the importance of corporate social responsibility and its impact on the bottom line and consumer confidence.
Before concluding the seminar, Varda Shine highlighted: “The global economy is still in a fragile state and may well become more volatile than before; although interest rates are likely to remain low, the world is deleveraging and borrowing too heavily in the current climate to chase market share and could have negative repercussions. As the diamond industry seeks new opportunities in the New Normal, emerging markets - both geographical and virtual - are likely to become of increasing importance. Corporate Responsibility (CR) is a necessity and not an optional extra. Although leading in this field may not always be easy, it is the right thing to do and seeking partnerships in CR activities can be an effective model. Neuroscience has shown that emotional, rather than rational, decision making plays the biggest part in consumers' buying habits; as the diamond is a product so heavily wrapped up in emotion, the industry's marketing approach should play to these strengths.”

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