Strategy Case Study – Ikea
Running head: Strategy Case Study - IKEA
Strategy Case Study – IKEA
Lu, Jung-Fong
Abstract
The vision of IKEA (Ingvar Kamprad Elmtaryd Agunnaryd) is a little ahead from the typical style of earning profits merely. They have come up with the idea of making partnerships with their customers and ensuring them high quality of products at very affordable prices. This has been, practically, quite successful and led new ways to the modern business world. However, this can only be successful if the business organization maintains and upholds its values and behaviors. A strategic leader has to be critical in his thinking. He should have the ability to see and plan the things for his followers what they cannot envisage. The success of IKEA is truly grateful to the leadership of its leader.
Vision of IKEA
At IKEA our vision is to create a better everyday life for the many people. (IKEA, 2012) Providing a high standard and happy living to every people of the society, and making a prosperous society brimming with happiness and economic boom are the vision of IKEA behind its business. Every profit-making firm primarily goal is to earn a large amount of profit. However, the vision of IKEA is a little ahead from the typical style of earning profits merely.
Vision includes the values of the fundamental ideas when the business formed. It predicts and sees what the future of the business and the potential consumers would be. So in this particular context of IKEA, their vision is unique. Forming an economic with cheap but high quality of furnishings and then made them affordable by every class of consumers. (Rosa, 2012)
Mission & Business Idea of IKEA
The IKEA Concept makes it possible to serve the many by providing low-priced products that contribute to helping more people live a better life at home. (IKEA, 2012) Therefore, IKEA aimed at providing product with enough quantity for much number or people, but still insist on low-price, high quality, and well
Strategy Case Study – IKEA
Lu, Jung-Fong
Abstract
The vision of IKEA (Ingvar Kamprad Elmtaryd Agunnaryd) is a little ahead from the typical style of earning profits merely. They have come up with the idea of making partnerships with their customers and ensuring them high quality of products at very affordable prices. This has been, practically, quite successful and led new ways to the modern business world. However, this can only be successful if the business organization maintains and upholds its values and behaviors. A strategic leader has to be critical in his thinking. He should have the ability to see and plan the things for his followers what they cannot envisage. The success of IKEA is truly grateful to the leadership of its leader.
Vision of IKEA
At IKEA our vision is to create a better everyday life for the many people. (IKEA, 2012) Providing a high standard and happy living to every people of the society, and making a prosperous society brimming with happiness and economic boom are the vision of IKEA behind its business. Every profit-making firm primarily goal is to earn a large amount of profit. However, the vision of IKEA is a little ahead from the typical style of earning profits merely.
Vision includes the values of the fundamental ideas when the business formed. It predicts and sees what the future of the business and the potential consumers would be. So in this particular context of IKEA, their vision is unique. Forming an economic with cheap but high quality of furnishings and then made them affordable by every class of consumers. (Rosa, 2012)
Mission & Business Idea of IKEA
The IKEA Concept makes it possible to serve the many by providing low-priced products that contribute to helping more people live a better life at home. (IKEA, 2012) Therefore, IKEA aimed at providing product with enough quantity for much number or people, but still insist on low-price, high quality, and well
References: Inter IKEA Systems B.V. (2012). The Roots of the IKEA concepts. Retrieved November 2 2012 from: http://franchisor.ikea.com/concept.html Rosa Madhavi Sadashiv Patgaonkar. (2012). The Challenge Of Strategic Management In Global Competition. Retrieved November 2 2012 from: http://www.isrj.net/publishArticles/1070.pdf MSG.com IKEA.com (2012). IKEA Group Unveils New Sustainability Strategy: People & Planet Positive. Retrieved November 2 2012 from: http://www.ikea.com/us/en/about_ikea/newsitem/sustainability_strategy2012 Stephanie Mead Anders Dahlvig. (2012). The New Growth Strategy: How Responsible Companies Are Profitable Companies. Retrieved November 2 2012 from: http://www2.lse.ac.uk/publicEvents/events/2012/06/20120613t1830vOT.aspx Riddhima Chopra Chris Maxwell. (2012). My Business Life - Anders Dahlvig. Retrieved November 2 2012 from: http://www.director.co.uk/MAGAZINE/2012/03_March/MBL_Anders_Dahlvig_65_07.html Jeremy Caplan Anders Dahlvig. (2012). The IKEA Edge: Building Global Growth and Social Good at the World 's Most Iconic Home Store. Studentletteratur AB.