Ingvar Kampradi: Wealthy Man, Frugal Man, Entrepreneur Extraordinair
Introduction Ingvar Kamprad, Swedish born citizen and founder and former CEO of Ingvar Kamprad Elmtaryd and Agunnaryd or better known as IKEA. Kamprad created a one of a kind furniture company that has become the largest furniture store in the world. The uniqueness is because they company specializes in everything being able to be broken down and shipped, “from furniture to the now famous mobile kitchens- could be packed in flat, stackable boxes (Nelson and Quick, 2011-438)”. His way of running the company is based on creativity, hard work and being frugal in his own life as well as the way he runs his company. So frugal that when employees travel they must share hotel rooms, a policy not carried in any major company. The philosophies that he has developed for IKEA are distinctive and have provided a successful way of being very profitable. Kamprad’s leadership characteristics have made him a very wealthy entrepreneur and admirable person but with a dark past. A past that he does not deny but states that he has learned from this and according to some has a message to send to other that carries great wisdom.
Issues Addressed
Kamprad’s company IKEA has been on the rise along with that his personal problems also increased. Alcoholism, his history of Nazi affiliation, and store openings where people died were his biggest problems. Even during his personal problems he never failed to provide creativity for IKEA and to make sure the company was on the right track. He always found a way to lead his company in the direction to be successful despite his personal life. His appreciation for what it takes to be successful and the knowledge that he realizes “there are no guarantees to economic success tomorrow apart from hard work (Nelson and Quick, 2011-438).”
Answering the Questions
1. Kamprad is the manager of IKEA, while he is not the CEO he still continues to run the company. He is always trying to create any new ideas, and develop philosophies to make the
Issues Addressed
Kamprad’s company IKEA has been on the rise along with that his personal problems also increased. Alcoholism, his history of Nazi affiliation, and store openings where people died were his biggest problems. Even during his personal problems he never failed to provide creativity for IKEA and to make sure the company was on the right track. He always found a way to lead his company in the direction to be successful despite his personal life. His appreciation for what it takes to be successful and the knowledge that he realizes “there are no guarantees to economic success tomorrow apart from hard work (Nelson and Quick, 2011-438).”
Answering the Questions
1. Kamprad is the manager of IKEA, while he is not the CEO he still continues to run the company. He is always trying to create any new ideas, and develop philosophies to make the
References: Bloomberg. Bloomber.com, http://topics.bloomberg.com/ingvar-kamprad/ Global Business leaders. http://www.globalbusinessleaders.org/WebPage/LeaderBio.aspx?leaderCd=l005&levelcd=c03r045 Nelson, D. & Campbell-Quick, J., (2011). Organizational Behavior: Science, the Real World and You. (7th ed.). Canada: South-Western Cengage Learning. Pace, Joe. The Workplace: Today and Tomorrow. The Professional Development Series, Book One.