Ikea's Business Strategy

1.Introduction Ikea, from its humble beginning to a multinational confederacy has entered the hearts of many a(prenominal) of the worlds citizen thorough its unique(p) design and low cost products. Ingvar Kamprad, the founder of Ikea and the genius can this phenomenon, continues to build his empire throughout the continents of the world by his pot and bold billet strategies. Spanning his wing around the world globally, Ikea is set out to make its mark in history. 2.Background Note Company mess is to create a better everyday life for the many people by integrating sustainability in all business strategies. Today Ikea encapsulates all the key beliefs and vision of its founder, which includes: a.Democratisation of expenditure Offering good value furniture at an low-cost price b.Enhanced visual sensitivity c.Non hierarchical world and anti-bureaucratic posture d.Empowerment e.Frugal attitude Ikea is in the hands of Dutch charit able trust. Looking at Ikeas turnover from 1954 to projected turnover in 2010 sensation could only marvel at their ability to continue to baffle at such a steady pace.

The Ikea Group undetermined 16 new stores in 2009 and 15 more as at October 2010 (Ikea, 2010) Ikeas success lies in the way it has been able to put together various strategic activities vis-à-vis strategic sentiment and strategic conceptionning. Strategic thinking encompasses key tenets like: 1. taking a holistic view 2.Focusing on the intent and purpose 3. true time thought process- using the knowledge and experience of away behavior and predict the future trend 4.Hypothesis driven scientific method of testing and re-testing a scenario. This is a creative and detailed or analytical process 5.Opportunistic 3.Building an Empire Ikeas biggest investment plan yet is to expand in China, the world most inhabited nation. Bloomberg (2010) reported that Ikea plans to dump in US$300 million for their expansion in China. They target to more than double the publication of stores in China... If you want to get a full essay, redact it on our website: Ordercustompaper.com

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