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IKEA Case Study

IKEA is a Swedish-origin Dutch(Netherlands)-headquartered multinational conglomerate that designs and sells ready-to-assemble furniture, kitchen appliances and home accessories, among other goods and home services. Founded in Sweden in 1943 by 17-year-old Ingvar Kamprad, IKEA has been the world's largest furniture retailer since 2008.

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IKEA Case Study

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  1. NIKE IKEA CASE STUDY CASE STUDY

  2. OVERVIEW OVERVIEW IKEA is a Swedish-origin Dutch(Netherlands)-headquartered multinational conglomerate that designs and sells ready-to-assemble furniture, kitchen appliances and home accessories, among other goods and home services. Founded in Sweden in 1943 by 17-year-old Ingvar Kamprad, IKEA has been the world's largest furniture retailer since 2008.

  3. TIMELINE 1998 IKEAbeginfinancingthe “Sowaseed” project, leadingtomorethan 12,500hectaresof rainforestbeingreplanted. 1958 1963 Thefirststorewas openedinÄlmhult, Småland ThefirstIKEAstoreoutside SwedenopensinNorway. 7 1 2 3 4 5 6 1943 2008. 1960 1995 IngvarKamprad foundedIKEAasa mail-ordersales business IKEAbecomesthe world'slargest furnitureretailer ThefirstIKEA restaurantopens Theterm “Democratic Design” isusedforthe firsttimeduringthe furniturefairinMilanin 1995.

  4. SWOT ANALYSIS STRENGTH WEAKNESS The biggest strength that IKEA has is its clear vision, which is to add value to its customers irrespective of the market conditions. This has translated into an articulate and well- defined business strategy and an approach to retailing, which is pioneering in its simplicity and deadly in its targeting of competitors and effective in its positioning. Given the fact that IKEA operates in multiple countries around the world, it is a high scale and a large size business meaning that it is difficult to control standards across locations. Though the company tries its best to implement uniform quality across its product range and throughout its locations, replicable and scalable control of quality is a key weakness. OPPORTUNITIES THREAT With the advent of the internet and online shopping, DIY as a key driver of strategic success is no longer the sole USP or Unique Selling Proposition of IKEA and with the proliferation of online retailers who can provide even lower costs because they do not have a physical presence means that they are snapping at the heels of IKEA. Perhaps the biggest opportunity that the company has is its cost leadership, which means a single-minded focus on cost at the expense of everything else. While this has raised concerns about quality, the customers do not seem to mind as they are getting their money’s worth and the addition of value to the customers is another significant opportunity.

  5. CONTACT US PhoneNumber +61364132102 EmailAddress help@globalassignmenthelp.com.au Website www.globalassignmenthelp.com.au

  6. Thank you!

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