Ingvar Kampard Essay

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Running Head: Ingvar Kamprad Case Analysis – 3 Ingvar Kamprad: Wealthy Man, Frugal Man, Entrepreneur Extraordinaire Jamil Nawaz Chowdhury Saint Leo University Author Note This paper is prepared for Organizational Behavior, MBA 530, taught by Professor Webster B. Baker. Ingvar Kamprad: Wealthy Man, Frugal Man, Entrepreneur Extraordinaire. Overview A kingdom which extends from Europe to different continents, created by the business icon and one of the world’s top most entrepreneurs, Ingvar Kamprad. Living legend Kamprad established a self assembly furniture company ‘IKEA’ in 1943 in Almhult, Sweden, and later on, that small company has become a multi-billion dollar company as of today (Luisa, 2011, p.11). Kamprad was born and raised on the family farm in Agunnaryd in Smaland, a remote area of Sweden (Elen, 2004, p.30). Swedish life of 1920’s and 1930’s was not easy for the young Kamprad (Luisa, 2011, p.11). At the age of five Kamprad became an entrepreneur and started earning money by selling matches in neighborhood. Moreover, Kamprad picked lingonberries from the garden and sold to local buyers. Kamprad got the taste of his first success when he bought a new racing bike and a typewriter from his own earning by selling garden seeds (Elen, 2004, p.30). Then, at the age of seventeen Kamprad formed IKEA (Ingvar Kamprad Elmtaryd and Agunnaryd) from the profits of his business and the amount he received from his father (Elen, 2004, p.30). IKEA also has become famous because of Kamprad’s leadership style. In spite of being one of the wealthiest individual, he is very cautious about spending the money; for example, he flies economy, drives ten year old Volvo, takes subway to work, and wears reasonably priced cloths (Nelson & Quick, 2013, p.466). Kamprad

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