Ikea Essay

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TABLE OF CONTENTS TABLE OF CONTENTS 1 1 Introduction of organization 2 2 Strategic planning model 2 3 Discussion on value & mission statement 5 3.1 Value 6 3.2 Mission Statement 8 4 Discussion on internal analysis and external strategies of the organization 10 4.1 Internal analysis 11 4.1.1 Strengths 11 4.1.2 Weaknesses 12 4.2 External environment 13 4.2.1 Threats 13 4.2.2 Opportunities 14 5 The importance of implementing strategies 14 6 Conclusion 15 REFERENCES 16 1 Introduction of organization IKEA is a privately-held, international home products retailer that sells flat pack furniture, accessories, and bathroom and kitchen items in their retail stores around the world. The company, which pioneered flat-pack design furniture at affordable prices, is now the world's largest furniture retailer. IKEA was founded in 1943 by 17-year-old Ingvar Kamprad in Sweden and it is owned by a Dutch registered foundation controlled by the Kamprad family. The company which was originated in Småland, Sweden, distributes its products through its retail outlets. As of August 2009, the chain has 301 stores in 37 countries, most of them in Europe, North America, Asia and Australia. IKEA is the world’s leading furniture retailer and has set new standards for competitiveness in household furnishings. The company has achieved this position by redefining the roles and interactions between the firm and its customers and suppliers. Since 1991, corporate policies about the company’s impact on the natural environment have been integrated into the parent organization. IKEA’s entrepreneurial initiatives in its industry need highlighting as well, which means that the case could also be used in a course on corporate entrepreneurship. The firm’s progressive environmental policies can be framed within the well-established leadership role IKEA has forged in

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