The Vision And Vision Of IKEA

* IKEA’s low cost structure has been the very core of its success. It’s low-cost and high-quality strategy fits with the current state of the economy. Offering convenience factors within IKEA’s stores would fit well with IKEA’s low cost structure. It maintains its low-cost business model by creating a different furniture shopping experience. IKEA supplies customers with all possible materials needed to complete their shopping when they enter the store (that are, measuring

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

IKEA´s mission statement: IKEA offers a wide range of well-designed, functional home furnishing products at prices so low that as many people as possible can afford them"

Product : IKEA’s product range is wide in several range. As we can see on the pictures, IKEA sells home furnishing, other house goods such as accessories. IKEA also offers restaurants and food stores. The logo of the brand is also very popular and and recognizable all over the world.

IKEA is one of the largest multinational companies in the world dealing with several products. The company sells and designs furniture appliances and home accessories at an affordable price. Ikea has over three hundred stores worldwide enjoying the good name it has created for itself. While they are one of the most profitable furniture companies in the world there are significant challenges and threats that have been overcome and are still needed to be tackled.

From its low cost structure to its corporate culture (“The IKEA Way”) to the do-it-yourself approach (replete with measuring tapes, paper, and pencils available in-store) plus its strong brand image (representative of high quality, low-cost ,trendy, modern and fashionable

Management: is the process of planning and directing the work within an organization. There are five major management functions, which includes; planning, organizing, staffing, directing, and controlling. In order to have an effective management, one must be a good leader. Managers usually hold formal positions of authority and make decisions about their organizations.

Ingvar Kamprad Elmtaryd Agunnaryd is the abbreviation of IKEA. The name of IKEA is established from the founder’s name, Ingvar Kamprad (I.K.) plus the first letter of Elmtaryd (E) and Agunnaryd (A), which is the native field and town where he grew up. IKEA is founded in 1943. It is a worldwide company with 127,000 employees that operates 53 stores in 43 countries. IKEA is an international household goods company that designs and betrays ready-to-assemble furniture. For example, couches and desks, implements and household accessories. Ingvar Kamprad is hoisted on ‘Elmtaryd’, a field near the small town of Agunnaryd. Ingvar has an aim even as he just a young child. His aim is develop own business.

IKEA is one of the most successful manufacturing and retail furniture companies operating in today’s global marketplace. IKEA manufacture from the bottom up, top down furniture that offers environmentally friendly, state of the art designed furniture that is both affordable and attractive to its customers via their online, catalogue and worldwide distribution channels, with a logistics network that are low cost footprints with the enforces on cost efficiencies couple with technology, product design, excellence and customer satisfaction. IKEA was founded by Ingvar Kamprad in a small village in Sweden. Its Scandinavian–style home furniture offer attractive designs at affordable prices. And IKEA is obtainable from 275 stores

An article, written by Saabira Chaudhuri, presents Ikea’s most recent plans to expand their market. The information, released in this article, illustrates both strategic and marketing planning, evident in Ikea’s latest venture. As Michael Levens explains, in our text, “strategic planning identifies the overall direction of a business”, while “marketing planning includes those activities devoted to accomplishing marketing objectives”, further explaining that it “connects businesses to the consumers of its products and services” (32).

The IKEA group sells quality furniture at a low price, to maintain a strong competitor. For that, the company has to try to cut cost without losing quality in the products that it sells.

Ikea's mission is to offer a wide range of home furnishing items of good design and function, excellent quality and durability, at prices so low that as many people as possible can afford to buy them (www.ikea.com)

IKEA can establish their business by targeting both markets as their product range of interior furnishings are required by both households and business establishments. However, in either case, customers are the target for any company. To be able to find out the requirements of the customer is the challenge and is the area that the company needs to analyse

The functions of management uniquely describe managers ' jobs. The most commonly cited functions of management are planning, organizing, leading, and controlling, although some identify additional functions. The functions of management define the process of management as distinct from accounting, finance, marketing, and other business functions. These functions provide a useful way of classifying information about management, and most basic management texts since the 1950s have been organized around a functional framework.

IKEA has adapted to the operations function of a business. This function is the main function of every company. This key function, of which IKEA has adapted to, is the business function responsible for managing the process of creation of goods and services. The operations function is responsible for organising, coordinating, planning, and controlling the resources that are required in the production of goods and services. IKEA has effectively implemented this function by understanding the needs of customers. In particular, this applies to those who have a lower income, and/or, limited space. IKEA’s employees within the product design and product development departments, focus directly on the price and quality, as well as the design and function of products. Elements of the design are typically agreed on within the factory itself, this is where manufacturers and designers work together, to create a product with regard to the greatest use of raw materials and manufacturing opportunities. IKEA’s operations have proved effective as in 2013 it earned $35.5 billion. IKEA has a large amount of suppliers, greater than 1300. IKEA purchases most of their