by Tamara Ayrapetova, on Oct 12, 2016 3:23:11 PM
The main challenges of current micro creative jewellery companies are connected to low profitability, guided by lack of knowledge in business essentials.
The main aim of the seminar is to provide an analysis of the challenges relating to the micro-creative Jewellery companies in the Czech Republic. The talk will provide a brief quantitative outline of the Czech Jewellery market followed by an analysis of the creative Jewellery segment. The creative Jewellery segment is known to be a dynamic niche market fragmented into a large number of micro companies of similar attributes. It is generally characterized by an excellent product quality, increasing demand but challenged by its limited size, low entry barriers, high bargaining power of intermediaries and an overall low profitability of the incumbents. Recent research shows that the specific nature of the Czech institutional education of creative Jewellers - founders of the creative Jewellery companies - causes barriers for an interdisciplinary collaborative abilities needed for sustainable development of the specific creative business. In addition to that, a lack of business knowledge and skills together, with the limited business professionalism were identified as the main challenges of current micro creative jewellery companies causing an overall low profitability of the segment. Finally some conclusions will be drawn.
Author: Marie Silondi
Date: 4h of March, 2016
Major/Field: Business Strategy
Type: Faculty Research Seminar
