Ikea

IKEA is a company promoting social values and paying close attention to the work atmosphere in order to encourage its employees to develop their talents and skills.

This paper aims to demonstrate a detailed description of the elements of ‘IKEA’ company based on its famous name in the furniture industry.

Q1. How is IKEA’s mission related to the clients they serve around the world? Explain what clients mean for IKEA.

“These children do more that just set industry standards, they reflect who we are as a company,” says people that work in the Nike factory in Asia. People shouldn’t buy products that have been manufactured with the use of child labor. They shouldn't do that because of the horrible conditions they put the children though. Another reason is because working on a farm or in a factory hurts the young back, on the other hand, some people disagree with this side.

So far, IKEA stores in the area of Asia are only available in China, Hong

IKEA is a unique Swedish furniture company. The company we so widely recognize today for selling good quality budget friendly Scandinavian style furniture began in 1943 as merely selling pens picture frames and wallets. Ikea was founded by a then 17year old Ivor Kampard, of the farm Elmtaryd near the small village of Agunnard in Smaland, hence giving rise to the name IKEA. This area is know for its thrifty and hard working ethos and Kampard very much incorporated this into his business venture. His innovative idea was to offer home furnishing products of good function and design at prices much lower than competitors by simply using cost-cutting solutions that did not affect the quality of products.

IKEA provides vast variety of home products from furniture, bed, tables, chairs, to home decoration, and kitchen accessories. At the heart of the IKEA strategy was its product range which founder of the company Ingvar Kampard called “Our Identity”(Bartlett, Nanda 1996). IKEA is recognized world-wide for its innovative approach toward business and stylish designs. The company has used innovation for cost leadership. “Almost all IKEA products are designed for flat packaging, which reduces shipping costs, minimizes transport damage,

In this business report on the global retail business IKEA, it will cover the nature of business, influences on operations, operation processes, operation strategies and how the business can sustain competitive advantage. IKEA was founded in 1943 by Ingvar Kamprad in Älmhult, Sweden. The business established after and with the money his father awarded him for succeeding in his studies, Kamprad sustained a cash inflow by selling pens, wallets, watches, picture frames, table runners, jewellery and nylon stockings at reduced prices to customers. Although, later on in 1958, IKEA was introduced as a leader of Swedish Furniture Company as they started to produce local furniture by the Swedish local manufacturers, which gained positive attention from their customers. Eventually, developing flat packs of furniture for storage and self assembly, making their signature style of IKEA and turning the small business into a global sensation.

In Russia, IKEA has been operating since 1991, but did not have an open store until March 2000. The first store opened in Russia being in Khimki (Moscow). After March 2000, more stores have been creating. Since opening the first store IKEA has poured over $4 billion in the country. Russia became a good consumer that is why, IKEA plans to open more stores in Russia even with the minor setback with dealing with the government.

For IKEA the step into the Chinese market was a big step, maybe as big at the first

1990s IKEA was concentrating on the needs of families and children, it has launched the

IKEA was founded by Ingvar Kamprad in 1943. Today IKEA is one of the largest furniture chains in the world with three hundred and fifteen stores operating in twenty seven countries. IKEA has managed its Global Environment in the three major ways which has contributed to its great success. These ways are as follows:

The IKEA vision is to create a better life for many people who purchase their products. Their main objectives are: - IKEA produces cheap and affordable products for the customers - The company wants better life for those who cannot afford expensive products - IKEA always helps to produce right product for the right consumer - IKEA always tries to sell their products at low prices - The company’s global developments and its continual commitment is to have a positive impact on people and

ANEXO: DATOS EXTRACTADOS MEMORIA ANUAL IKEA A better everyday life for the many people Mikael Ohlsson, President and Chief Executive Officer for the IKEA Group Welcome to the 2011 IKEA Yearly Summary. In times when many nations and people face economic challenges, our vision of creating a better everyday for the many people is more relevant than ever. We are constantly engaged in learning about the different ways people experience life at home and what their needs are. And we know people are becoming more value conscious. We develop our range for people with normal incomes. To make it possible to furnish functionally, individually and sustainably – even when the economy is tight. We strive to become more accessible through lowering our

The intrapreneurial organization that I have selected for my individual report is IKEA. IKEA is a Swedish home furnishing company which produces ready to assemble furniture as well as different home and office appliances. It is the world’s largest furniture retailer. IKEA was established 73 years ago in 1973 by 17 year old Ingvar Kamprad. IKEA means I for Ingvar, K for Kamprad, E for Elmtaryd, the farm where he grew up and A for Agunnaryd, his hometown in Smaland, Southern Sweden. “To create a better everyday life for the many people”, is IKEA’s vision. IKEA is known for its innovative architectural designs and eco-friendly interior designs. The company is well known for its focus on price control, continuous product development and other corporate attributes which allowed it to lower its prices on an average of 2 to 3% over the decade to 2010 during the period of global expansion. To date IKEA operates 328 stores in 28 countries with operations spanning 43 countries having an annual turnover of 32.7 billion euros in 2015. The entire IKEA range consists of 9,500 products which can be seen on its website. It is the user of 1% of the world’s commercial wood resources.