Ingvard Kamprad And Ikea

601 Words3 Pages
INGVARD KAMPRAD AND IKEA Nowadays the IKEA group is a highly renowned name in the furniture industry, the hard work and determination of its founder INGVARD KAMPRAD. The history of the company dates back in in 1940s-1950s when Kamprad turned into an entrepreneur, in a post-war scenario of young Sweedish householders, looking for unexpensive furniture, against the Sweedish manufacturers and retailers cartel keeping prices high. Not surprisingly, he found several hurdles on his way to success. He wanted to enter a few competitors/high entry barriers business, facing difficulties such as being banned from the annual trade fair in Stockholm at the very beginning. Furthermore he’s been forbidden from supplying from manufacturers members of the cartel, involved in a lawsuit for customers deception and so on. Despite these issues he maintained his determination and turned problems into new opportunities: he found new, and cheaper, suppliers, opened few new stores introducing the innovative IKEA concept, learnt the art of advertising and promoted its idea internationally, expanding the business all over the globe. DRIVERS OF IKEA SUCCESS The fundamentals of Ikea success definitely lie into its founder entrepreneurial characteristics and the strong culture he let flow through Ikea company. He never gave up the opportunity he had seen when decided to start up its business, following the trends of a demographical growth and meeting the needs of an increased demand for cheaper but good quality goods. In spite of all risks and difficulties he was exposed to, he always showed a flexible, pro-active and quickly adaptative approach to situations. He introduced the innovative concept of the self-service / cash-and-carry purchases, and of suburban stores, exported its idea at international level, and eventually improved the initial model, adopting all the best solutions

More about Ingvard Kamprad And Ikea

Open Document