ikea case study
BACKGROUND OF KEY PERSON
My favourite legendary Entrepreneur Ingvar Kamprad was born in the south of Sweden in 1926 and raised on a farm called Elmtaryd, near the small village of Agunnaryd. At an early age, He reinvested his profits and expanded to fish, seeds, Christmas tree decorations, and pens and pencils. At the age of 17 he started IKEA with some money he received from his father. Within four years IKEA began distributing furniture manufactured by Swedish craftsmen. (From Scott Allen)
ENTREPRENEURIAL EXPERIENCES AND ACCOMPLISHMENTS
At age of 17, Kamprad already start his early experiences as an entrepreneur. Kamprad founded was IKEA in 1943. In 1951, he starts to sell furniture. By manufacturing them locally, he keeps costs low. In 1953, he gives customers chance to see and feeling furniture in the furniture showroom. After few years, Kamprad gained experience that he developed the concept of flat pack design. Over the next few years, Ingvar Kamprad continued turning unique consumer needs into retail opportunities for his company.
Also Kamprad is a great leader which influences whole of the IKEA family. Kamprad is famous for his micro-managing style. Also the management style kamprad used, the human aspects, improving the quality of life of the people and the extraordinary attention to detail made IKEA successful. Kamprad make IKEA become the largest furniture store in the world. According to Forbes’ list of The World’s Billionaires 2007 he is worth $33 billion.
KEY PERSONAL QUALITIES AND SPECIAL ATTRIBUTES
Two big qualities stand out in Kamprad 's style. One is he is an unconventional leader which influences whole of the IKEA family. Kamprad is focused on the job he is doing. Because of the dyslexia, this is weakness for kamprad personal. But he came up with creative idea. He decided to use names instead of code for product, and it’s easy for remember. And he also understanding his employee and give chance to employee provide new
My favourite legendary Entrepreneur Ingvar Kamprad was born in the south of Sweden in 1926 and raised on a farm called Elmtaryd, near the small village of Agunnaryd. At an early age, He reinvested his profits and expanded to fish, seeds, Christmas tree decorations, and pens and pencils. At the age of 17 he started IKEA with some money he received from his father. Within four years IKEA began distributing furniture manufactured by Swedish craftsmen. (From Scott Allen)
ENTREPRENEURIAL EXPERIENCES AND ACCOMPLISHMENTS
At age of 17, Kamprad already start his early experiences as an entrepreneur. Kamprad founded was IKEA in 1943. In 1951, he starts to sell furniture. By manufacturing them locally, he keeps costs low. In 1953, he gives customers chance to see and feeling furniture in the furniture showroom. After few years, Kamprad gained experience that he developed the concept of flat pack design. Over the next few years, Ingvar Kamprad continued turning unique consumer needs into retail opportunities for his company.
Also Kamprad is a great leader which influences whole of the IKEA family. Kamprad is famous for his micro-managing style. Also the management style kamprad used, the human aspects, improving the quality of life of the people and the extraordinary attention to detail made IKEA successful. Kamprad make IKEA become the largest furniture store in the world. According to Forbes’ list of The World’s Billionaires 2007 he is worth $33 billion.
KEY PERSONAL QUALITIES AND SPECIAL ATTRIBUTES
Two big qualities stand out in Kamprad 's style. One is he is an unconventional leader which influences whole of the IKEA family. Kamprad is focused on the job he is doing. Because of the dyslexia, this is weakness for kamprad personal. But he came up with creative idea. He decided to use names instead of code for product, and it’s easy for remember. And he also understanding his employee and give chance to employee provide new
Links: By anned’innocenzioap Retail Writer, NEW YORK October 28, 2010 (AP) http://abcnews.go.com/Business/wireStory?id=11993295 http://thefuturebuzz.com/2008/05/04/on-creating-a-unique-consumer-experience-what-you-can-learn-from-ikea/