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IKEA: Revolutionizing Home Furnishing Globally

Discover the story of IKEA, founded by Ingvar Kamprad in Sweden. Explore their unique design philosophy, affordable prices, and global sustainability efforts. Learn about their strengths, weaknesses, opportunities, and threats in the competitive market.

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IKEA: Revolutionizing Home Furnishing Globally

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  1. INGVAR KAMPRAD ELMTARYD AGUNNARYD

  2. INGVAR KAMPRAD ELMTARYD AGUNNARYD

  3. References :- • Wikipedia,IKEA. https://en.wikipedia.org/wiki/IKEA Background of IKEA • INGVAR KAMPRAD – Name of the founder • ELMTARYD – Farm where he grew up • AGUNNARYD – Founder’s hometown in Sweden

  4. References :- • Wikipedia,IKEA. https://en.wikipedia.org/wiki/IKEA • www.ikea.com Mission & Vision • VISION • To create a better everyday life for the many people • MISSION • To offer a wide range of well designed, functional home furnishing products at prices so low that as many people as possible will be able to afford them

  5. Management • President & CEO : Mikael Ohlsson • Corporate Communications : Helen Duphorn • Human Resources : Petra Hesser • Head of Staff : Alistair Davidson • IKEA Industry : Leif Hultman • Sustainability : Steve Howard • Retail : Martin Hansson

  6. Strength • Unique and modern design products for Home furnishing. • Low and affordable product price. • IKEA’s outlets Interior Design concept imposing the best feel-like-home & family-friendly shopping environment. • Different home ideas; from home decoration ideas to organizing tips to inspirations.

  7. References :- • IKEA strategic case study & analysis, Osama Albarrak Weaknesses • Low number of stores • Limitation of online shopping • Limitation of design software • Furniture not built to last a lifetime

  8. Opportunity (potentials) • Expansion to developing countries • Expansion to growing grocery market • Selling Point : Sustainability – from material sourcing up to finished product and the whole supply chain management

  9. References :- • IKEA Solutions for Weakness & Threats UKessays • IKEA Strategies Issues Solutions UKessays Threats • Recession – higher oil, electricity & operating costs • Lower standard of salary causing reduced by power of consumers • Competitors – cheaper knock-off products widely available (i.e. made in China)

  10. Solutions • EFFICENCY • SUSTAINABILITY

  11. ANY QUESTIONS?

  12. THANK YOU

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