1. Abstract IKEA is a furniture company founded by a Swedish billionaire - Ingvar Kamprad‚ who is a successful leader and a living legend of IKEA. He made a great contribution to the innovation and successes of IKEA as well as keeping it grow strongly: Just in 10 years‚ sales of IKEA tripled from over $ 4 billion in 1993 to more than $ 12 billion in 2003. Starting a new career with IKEA by small business in the village Agunnaryd Elmtary - where Kamprad lived‚ but finally he turned to selling
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Ikea Group SWOT Analysis REFERENCE CODE: 6878C795-4BCB-4C85-A319-6F33C508FD80 PUBLICATION DATE: Apr 2012 WWW.MARKETLINEINFO.COM © MARKETLINE. THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Ikea Group 6878C795-4BCB-4C85-A319-6F33C508FD80 © MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED SWOT Analysis SWOT analysis overview Ikea is an international home products retailer that sells furniture‚ accessories‚ and bathroom and kitchen items. The
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Introduction IKEA states in their business idea: "We shall offer a wide range of home furnishing items of good design and function‚ at prices so low‚ that the majority of people can afford to buy them"(IKEA 2005). IKEA manage to keep costs low by their superior relationship with their suppliers were they buy low-cost components in huge quantities. Together with efficient warehousing and customer selling service it passes on to customers resulting in lower prices‚ anywhere from 25 - 50 % lower than
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0 Introduction..........................................................................................................2 2.0 The company’s work environment.......................................................................2 3.0 Strategic management illustrated in the organization...........................................3 4.0 The success of the organization due to external or internal factors ......................5 5.0 Various motivation theories and employee motivation...............
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IKEA Strategic Management Report Executive summary This report provides an analysis‚ evaluation and recommendation on the strategic management of IKEA. Methods evaluating and analysis includes SWOT analysis‚ Pestle Analysis‚ Porters five forces and finally internal environment analysis. This report will show findings on the internal and external forces of the company and then illustrate on how the company deals and curb with these factors and gains
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What does IKEA mean in the eyes of the customer (value proposition)? (i) The basic pillar of the value proposition offered by IKEA products with respect to the customer’s needs is the offer of low price products which however retain a level of quality. (ii) Another value proposition that IKEA offers to the customers is a unique combination of form‚ function and affordability as well as variety. Creation of beautiful and durable furniture which is affordable for the consumer. Also‚ IKEA gives the
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in 25 countries Visitors in stores: 590 millions 561 millions/year visitors on the website Ikea.fr Graphs PESTEL IKEA Economical factors Better purchasing power of emerging countries Pricing different according to the country Low price strategy in general Technological & Legal Technological factors Creation and innovation of new products Better stock management Legal factors Strengthening of international importation regulation Norms Environmental & Social Environmental factors
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need for the practice of operations management cannot be forgone. Operations management is very important in business operations since it forms the heart of the organisation by controlling the system of operation. Operations management deals with the design‚ operation‚ and improvement of the systems that create and deliver a firm’s primary products and services. Like marketing and finance‚ operations management is a functional field of business with clear management responsibilities. Guinness
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Operations Management and Ethics Operations management may be defined as the design‚ operation‚ and improvement of the production system that creates the firm ’s primary products and services‚ or‚ as Chase‚ Jacobs & Aquilano (2006) state "operations management is about getting the day-to-day work done quickly‚ efficiently‚ without errors‚ and at low cost". Operations management is critically important in any organization or business nowadays. Operations management is one of the three major functions
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myomlab.com. ❯ ● Operations management is the activity of managing the resources which are devoted to the creation and delivery of services and products. It is one of the core functions of any business‚ although it may not be called operations management in some industries. ● Operations management is concerned with managing processes. And all processes have internal customers and suppliers. But all management functions also have processes. Therefore‚ operations management has relevance for all
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