IKEA was founded in 1943 in Sweden by Ingvar Kamprad at age 17. The company name is an acronym combining letters from Kamprad's name and the farm and village where he grew up. Over 50 years, IKEA developed its brand image as a low-cost home furnishings retailer owned by a Dutch foundation and headquartered in the Netherlands. IKEA aims to offer well-designed, affordable home products worldwide following its vision of creating "a better everyday life for the many people."
This presentation sums up the numerous, but not all, innovative Human Resource practices that are being followed by IKEA to attain & retain the best talent in the industry. This also includes history and evolution of a multi-national company and the marketing strategy it applies to be the best in its field.
This presentation sums up the numerous, but not all, innovative Human Resource practices that are being followed by IKEA to attain & retain the best talent in the industry. This also includes history and evolution of a multi-national company and the marketing strategy it applies to be the best in its field.
This power point presentation will provide us the overall business aspects of IKEA around the world.How they were founded,the past of the organization, what the organization doing on present day & what will they do in the near future.
This power point presentation will provide us the overall business aspects of IKEA around the world.How they were founded,the past of the organization, what the organization doing on present day & what will they do in the near future.
Gelecek hane perspektif-raporu-subat-2015Gelecek Hane
Genel gidişat iyiye doğru gitmektedir. Yaşam kalitesi genel itibariyle gelişmektedir. Ancak eşit oranlarda dağılmamaktadır. Bilim ve teknoloji daha önce görülmediği hızda gelişmektedir. Ancak gezegenin büyük sorunları vardır ve yeterli hassasiyet henüz oluşmamıştır.
Tabiat, iklim, doğal kaynaklar, enerji, siyaset ve ekonomi, insan ve toplum dengelerini tutturmamız şarttır. Teknolojik devrimleri bu dengeyi tutturmak için seferber etmeliyiz. ‘Ben’ odaklı düşünceden ‘Biz’ odaklı düşünce yapısına geçmek zorundayız. Bunları başarırsak, 21. yüzyıl ve sonrası çok güzel olacak.
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Plenty of Asians are fond of this tea and throughout this every day, yet in the east its consequence never gets down. This tea is drastically different from normal tea since it's a mix of herbs and isn't generated out of the leaves of the tea shrub.
Comparison of Marketing Mix of IKEA in Four CountriesFatima Arshad
Report Contains Marketing Mix of IKEA. In this report there is comparison of 4Ps of IKEA in Four Countries i.e Sweden, UK, China and India.
This report is result of the efforts of four people.
IKEA - Brand Management
An Overview of what is in the IKEA store as you turn the pages. . .
Intro
Origin & Genesis
History & Last Decade
Business !dea
Structure and Corporate Management
Brand Portfolio with STP and Consumer Activations
IKEA and inter-market segmentation
4Ps & core competency
AD agencies and Strategic Brand Campaigns
Market Environment (Sectoral and Industrial Analysis)
IKEA value chain
PEST analysis
Porter's 6 forces
S.W.O.T.
TOWS metrics
Competitor Analysis
Industry Analysis
Costing and Pricing analysis of brand portfolio
Consumer Behavior & Brand Ambassadors
Brand repositioning campaigns
Rationalized improvement plan
Future of IKEA
Alternate options for IKEA
IKEA Trivia
IKEA Advertisements all over and AugmentedReality/QR content
IKEA CASE STUDY SUMMARY QUESTIONS 1. How have IKEA’s.docxwilcockiris
IKEA CASE STUDY SUMMARY QUESTIONS
1. How have IKEA’s efforts to provide an environment of continued learning
positioned them to remain viable, given the trends of cost containment and speed
in market change described in our textbook?
2. How might IKEA’s “Partners for Growth” mentoring program provide them with an
effective knowledge management tool.
3. What are your feelings about IKEA’s “I Want Your Job” program? Is this
something that you would endorse as an HR practitioner? Why or why not?
4. Given what you know about the retail industry, what other ideas do you have
regarding strategic employee development at IKEA?
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ICMR Case Collection
ICFAI Center for Management Research
This case was written by Shirisha Regani, under the direction of Sanjib Dutta, ICFAI Center for
Management Research (ICMR). It was compiled from published sources, and is intended to be used as a
basis for class discussion rather than to illustrate either effective or ineffective handling of a management
situation.
IKEA’s Innovative Human Resource
Management Practices and Work Culture
H R O B 0 6 6
2005, ICFAI Center for Management Research. All rights reserved. No part of this publication may be
reproduced, stored in a retrieval system, used in a spreadsheet, or transmitted in any form or by any means- -
electronic or mechanical, without permission.
To order copies, call 0091-40-2343-0462/63/64 or write to ICFAI Center for Management Research, Plot # 49,
Nagarjuna Hills, Hyderabad 500 082, India or email [email protected] Website: www.icmrindia.org
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HROB/066
IKEA’S INNOVATIVE HUMAN RESOURCE MANAGEMENT
PRACTICES AND WORK CULTURE
“Maintaining a strong IKEA culture is one of the most crucial factors behind the continued
success of the IKEA concept”.
-Ingvar Kamprad, founder of IKEA.1
“IKEA values the individual. We make people comfortable here and enable people to grow.”
- Jaime Martinez, Head of Human Resources at IKEA North America, in 2003.2
BEST EMPLOYER
In January 2005, Fortune, a prominent international business magazine, published its annual list of
the ‘100 Best Companies to Work For’. IKEA North America (IKEA), a major furniture retailer
and the American subsidiary of the Sweden-based IKEA Group, was 62nd on the list. IKEA won
points for its innovative human resource management practices that emphasized flexibility and
welfare while focusing on employee development. The company’s unique work culture that
supported coworkers (as employees were called at IKEA) and encouraged creativity and diversity
was also applauded.
Pernille Spiers-Lopez (Spiers-Lopez), IKEA’s President, said the company was thrilled at being
recognized as one of the best companies to work for. “We’re delighted to be among Fortune’s
‘100 Best Companies to Work For.’ At IKEA, we live by the philosophy .
IKEA’s Global Sourcing Challenge Indian Rugs and Child LaboLizbethQuinonez813
IKEA’s Global Sourcing Challenge:
Indian Rugs and Child Labor (A)
In May 1995, Marianne Barner faced a tough decision. After just two years with IKEA, the world’s
largest furniture retailer, and less than a year into her job as business area manager for carpets, she
was faced with the decision of cutting off one of the company’s major suppliers of Indian rugs. While
such a move would disrupt supply and affect sales, she found the reasons to do so quite compelling.
A German TV station had just broadcast an investigative report naming the supplier as one that used
child labor in the production of rugs made for IKEA. What frustrated Barner was that, like all other
IKEA suppliers, this large, well-regarded company had recently signed an addendum to its supply
contract explicitly forbidding the use of child labor on pain of termination.
Even more difficult than this short-term decision was the long-term action Barner knew IKEA
must take on this issue. On one hand, she was being urged to sign up to an industry-wide response
to growing concerns about the use of child labor in the Indian carpet industry. A recently formed
partnership of manufacturers, importers, retailers, and Indian nongovernmental organizations
(NGOs) was proposing to issue and monitor the use of “Rugmark,” a label to be put on carpets
certifying that they were made without child labor. Simultaneously, Barner had been conversing
with people at the Swedish Save the Children organization who were urging IKEA to ensure that its
response to the situation was “in the best interest of the child”—whatever that might imply. Finally,
there were some who wondered if IKEA should not just leave this hornet’s nest. Indian rugs
accounted for a tiny part of IKEA’s turnover, and to these observers, the time, cost, and reputation
risk posed by continuing this product line seemed not worth the profit potential.
The Birth and Maturing of a Global Company1
To understand IKEA’s operations, one had to understand the philosophy and beliefs of its 70-
year-old founder, Ingvar Kamprad. Despite stepping down as CEO in 1986, almost a decade later,
Kamprad retained the title of honorary chairman and was still very involved in the company’s
activities. Yet perhaps even more powerful than his ongoing presence were his strongly held values
and beliefs, which long ago had been deeply embedded in IKEA’s culture.
Kamprad was 17 years old when he started the mail-order company he called IKEA, a name that
combined his initials with those of his family farm, Elmtaryd, and parish, Agunnaryd, located in the
2
forests of southern Sweden. Working out of the family kitchen, he sold goods such as fountain pens,
cigarette lighters, and binders he purchased from low-priced sources and then advertised in a
newsletter to local shopkeepers. When Kamprad matched his competitors by adding furniture to his
newsletter in 1948, the immediate success of the new line led him to give up th ...
MinicaseInnovation at IKEARedecorating and renovating have becIlonaThornburg83
Minicase
Innovation at IKEA
Redecorating and renovating have become a popular international pastime. In a world facing persistent terrorist alerts and lagging economies, more and more people are opting to stay home and make their homes safe havens. This phenomenon has contributed tremendously to the success of IKEA, the Swedish home furniture giant. In monetary terms alone, that success is measured by sales for the fiscal year ending in 2016 totaling 28.5 billion euros—that’s a lot of furniture!
Much of IKEA’s success can be attributed to its founder, Ingvar Kamprad. Kamprad used graduation money to start IKEA in the small Swedish village where he was born. He started off selling belt buckles, pens, and watches—whatever residents in the small local village of Agunnaryd needed. Eventually Kamprad moved on to selling furniture. One day in 1952, while struggling to fit a large table in a small car, one of Kamprad’s employees came up with the idea that changed the furniture industry forever—he decided to remove the legs. IKEA’s flat-pack and self-assembly methodology was born, and it rocketed the company past the competition. “After that [table] followed a whole series of other self-assembled furniture, and by 1956 the concept was more or less systematized,” writes Kamprad.
Kamprad resigned from his role at IKEA in 2013, and for the seventy years he served at IKEA he was dedicated to maintaining the corporate culture he helped define since the company’s founding in 1943. Despite fabulous wealth he continues to be a simple and frugal man—his idea of a luxury vacation is riding his bike. He is fiercely cost conscious and, even though his personal wealth has been estimated in the billions, he refuses to fly first class. He values human interaction above all, and, even though retired, he still visits IKEA stores regularly to keep tabs on what is going on where the business really happens.
The culture at IKEA is a culture closely connected with Kamprad’s simple Swedish farm roots. It is a culture that strives “to create a better everyday for the many people.” IKEA supports this culture by
· Hiring co-workers (IKEA prefers the word co-workers to employees) who are supportive and work well in teams
· Expecting co-workers to look for innovative, better ways of doing things in every aspect of their work
· Respecting co-workers and their views
· Establishing mutual objectives and working tirelessly to realize them
· Making cost consciousness part of everything they do from improving processes for production to purchasing wisely to traveling cost-effectively
· Avoiding complicated solutions—simplicity is a strong part of the IKEA culture
· Leading by example, so IKEA leaders are expected to pitch in when needed and to create a good working environment
· Believing that a diverse workforce strengthens the company overall
542
What is it like to work at IKEA? Here’s how some IKEA employees describe the experience:
· “It’s about moving; we don’t need to run fast ...
CASE 6 Business Model and Competitive Strategy of IKEA in India.docxwendolynhalbert
CASE 6: Business Model and Competitive Strategy of IKEA in India
Syed Abdul Samad
IBS Center for Management Research (ICMR)
· “We are very determined but very patient at the same time. We started this journey six years ago. Things are finally moving and we are satisfied with the progress so far…
“I truly believe that the IKEA format is going to work. What is an IKEA store? An IKEA store has more than 9000 different articles for the entire family. We offer an experience for the whole family. Also remember, at IKEA we don’t sell products, we sell inspiration.”1
– Juvencio Maeztu, IKEA’s Country Manager for India, in 2013
After a year of lobbying and negotiating with and convincing the Indian politicos and bureaucrats, IKEA’s €1.5 billion investment proposal to set up its stores in India was finally accepted by the local government on May 2, 2013. However, as of July 2013, Juvencio Maeztu (Maeztu), IKEA’s Country Manager for India, found he still had a colossal task ahead of him.
IKEA, the Netherlands-based Swedish company, was the largest furniture retailer in the world with a presence in 44 countries around the globe—in countries like the US, the UK, Russia, the EU region, Japan, China, Australia, etc. However, it did not enter into the Indian market till 2013, though the company had had a presence in the country since the 1980s as a sourcing destination for its global stores. It had even opened its regional procurement office in Gurgaon, India, in 2007. In 2009, IKEA tried to enter the country to establish its stores, but its attempts were thwarted by India’s stringent Foreign Direct Investment (FDI) regulations. It again applied for permission for entry in June 2012, after India had made some changes in its FDI rules. However, IKEA had to wait another year, hitting many roadblocks on the way, before it was able to obtain the Indian government’s approval to establish its stores. The company also had to tweak its global store model to fit the Indian FDI and sourcing outlines and Indian consumer preferences.
While Maeztu was tasked with tapping the Rs.* 925 billion Indian furniture and furnishings market, analysts were keenly waiting to see what strategies the furniture giant would come up with to win the highly-fragmented, price-sensitive Indian market—as many Indian middle-class families preferred to have their furniture custom-made from small retailers or local carpenters. No two Indian homes had the same kind of furniture as Indians in general showed more of an affinity for unique woodwork and designs rather than flat geometric furniture. “Living room in India is different from any other country—a place for socializing and every activity is around the food. In some countries it is the kitchen and in some countries living room is used for sleeping,”2 said Maeztu. More important was the fact the Indian customer did not prefer the concept of do-it-yourself (where buyers had to assemble different pieces of the product themselves), a key part o ...
TitleABC123 Version X1IKEA Furniture Retailer to the.docxedwardmarivel
Title
ABC/123 Version X
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IKEA: Furniture Retailer to the World
MGT/448 Version 6
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University of Phoenix MaterialIKEA: Furniture Retailer to the World
Introduction
IKEA is one of the world’s most successful global retailers. In 2007, IKEA had 300 home furnishing superstores stores in 35 countries and was visited by some 583 million shoppers. IKEA’s low-priced, elegantly designed merchandise, displayed in large warehouse stores, generated sales of €21.2 billion in 2008, up from €4.4 billion in 1994. Although the privately held company refuses to publish figures on profitability, its net profit margins were rumored to be about 10 percent, high for a retailer. The founder, Ingvar Kamprad, now in his 80s but still an active adviser to the company, is rumored to be one of
the world’s richest men.
Company Background
IKEA was established by Ingvar Kamprad in Sweden in 1943 when he was just 17 years old. The fledgling company sold fish, Christmas magazines, and seeds from his family farm. It wasn’t his first business; that had been selling matches, which the enterprising Kamprad had purchased wholesale in 100-box lots (with help from his grandmother who financed the enterprise) and then resold individually at a higher markup. The name IKEA was an acronym, I and K being his initials, while E stood for Elmtaryd, the name of the family farm, and A stood for Agunnaryd, the name of the village in southern Sweden where the farm was located. Before long Kamprad had added ballpoint pens to his list and was selling his products via mail order. His warehouse was a shed on the family farm. The customer fulfillment system
utilized the local milk truck, which picked up goods daily and took them to the train station.
In 1948 Kamprad added furniture to his product line, and in 1949 he published his first catalog, distributed
then as now for free. In 1953 Kamprad found himself struggling with another problem; the milk truck had
changed its route and he could no longer use it to take goods to the train station. Kamprad’s solution was to buy an idle factory in nearby Almhult and convert it into his warehouse. With business now growing rapidly, Kamprad hired a 22-year-old designer, Gillis Lundgren. Lundgren originally helped Kamprad to do photo shoots for the early IKEA catalogs, but over time he started to design more and more furniture for IKEA, eventually designing as many as 400 pieces, including many best sellers.
IKEA’s goal as it emerged over time was to provide stylish functional designs with minimalist lines that
could be manufactured cost efficiently under contract by suppliers and priced low enough to allow most people to afford them. Kamprad’s theory was that “good furniture could be priced so that the man with that flat wallet would make a place for it in his spending and could afford it.” 1 Kamprad was struck by the fact that furniture in Sweden was expensive at the time, something that he attributed to a fragmented industry dominated by small re ...
CHAPTER6Design Thinking and InnovationWhat is design thinkin.docxchristinemaritza
CHAPTER6
Design Thinking and Innovation
W
hat is design thinking? How can it be used to create significant innovation? Are there steps that can be followed to implement design thinking on an individual or company basis? Are there good examples of the successful use of design thinking in an organization?
Scenario: IKEA
Ingvar Kamprad was born in southern Sweden on March 30, 1926, and was raised on a farm called Elmtaryd near the small village of Agunnaryd. Even as a young boy, Kamprad had an entrepreneurial spirit. At the age of 5, he discovered a good profit could be made by buying matches cheaply in bulk in Stockholm and then individually reselling the matches to his neighbors in the country. He started by selling matches to his closest neighbors, but by the time he was 7, Kamprad put his growing match business on wheels, using his bicycle to sell matches to customers farther and farther from Elmtaryd. Gradually, Kamprad expanded his business offerings from selling only matches to also selling flower seeds, greeting cards, holiday decorations, pencils, and ballpoint pens.
In 1943, when Ingvar Kamprad completed school at the age of 17, his father gave him some money as a reward for doing well. Kamprad, the eternal entrepreneur, used this money to establish IKEA. The name IKEA was formed from his initials (I and K) and the first letters of Elmtaryd and Agunnaryd, the farm and village where he grew up. Initially, IKEA focused on the products Kamprad was already selling, but gradually the company expanded the product offerings to include wallets, watches, and jewelry. Within 2 short years, IKEA grew to such an extent that Kamprad could no longer make individual sales calls, and he launched a mail order service to continue meeting the growing customer demands for his products.
In 1948—just 5 years after starting IKEA—Kamprad introduced his first line of furniture using local manufacturers in the forests close to his home to supply the finished goods. The furniture line was a huge success, and Kamprad believed IKEA could become a large-scale furniture provider. In 1951, Kamprad decided to discontinue all other product lines in order to focus the company’s attention solely on producing furniture. He launched the IKEA catalog strategy, which today remains one of IKEA’s major advertising strategies. However, around this same time, IKEA became embroiled in a pricing war with its main competitor. As the two companies continued lowering prices, Kamprad became concerned about the quality of the furniture and the image customers would have of their quality. To address these concerns, in 1953 IKEA opened its initial furniture showroom to demonstrate the function and quality of IKEA’s low-priced products. Located in Älmhult, Sweden, this first showroom was well received by customers because, for the first time, they could see the products in real life before purchasing them. The showroom concept worked, and it became a competitive differentiator with custom ...
Attending a job Interview for B1 and B2 Englsih learnersErika906060
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
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Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
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1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
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A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
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Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
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Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
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Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
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Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
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Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
2. The First Days of IKEA Group
IKEA was founded in Älmhult, Sweden in 1943 by Ingvar
Kamprad, then 17. The company name is a composite of the
first letters in his name in addition to the first letters of the
names of the property and the village in which he grew up:
Ingvar Kamprad Elmtaryd Agunnaryd. This acronym is
incidentally similar to the Greek word οικία [oikia] (home) and
to the Finnish word oikea (correct, right).
3. The
Brand
The IKEA brand is the sum total of the emotional and
rational values that consumers associate with the IKEA
tradesmark and the reputation of the company. The
brand image is the result of over 50 years work by
IKEA co-workers at all levels all over the world.
4. Organization
IKEA is a privately held international low cost home
furnishings retailer.
The retailer was founded in Sweden, but is owned by a
Dutch-registered foundation, controlled by the
Kamprad family.
Inter IKEA Systems B.V. is the owner/franchiser of the
IKEA trademark and the IKEA Concept. It is a
Dutch-registered company, with offices in the
Netherlands, Sweden and Belgium.
5. Leadership of the IKEA Group
Of the 243 IKEA stores in 34 countries, 216 are
run by the IKEA Group. The remaining 27
stores are run by franchisees outside of the
IKEA Group.
The IKEA has its main center in Leiden, South
Holland, The Netherlands
6.
7. Marketing Strategy
The IKEA vision, business idea and market positioning statement provide a
framework for all IKEA marketing communication worldwide.
The IKEA vision is "To create a better everyday life for the many
people.“
The IKEA business idea is "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.“
The IKEA market positioning statement is "Your partner in better
living. We do our part, you do yours. Together we save money."
8. The IKEA Catalogue
The IKEA catalogue serves as a permanent
invitation to the IKEA store. It provides
constant inspiration, and serves as an
invaluable source of product information
throughout the year. It also contains details on
how to get to the nearest IKEA store and its
opening hours.
9. Catalogues Distribution
The IKEA catalogue is mass distributed to a substantial nuber of
households in the IKEA store’s Primary Market Area, year after
year , door-to-door, free of charge.
10. The IKEA Concept
IKEA has always tried to do more with less. This
goes hand in hand with environmental work-touse resources in an economical and careful way.
Three cornerstones in IKEA’s environmental work:
- Recycle Information
- Resource efficiency
- Forestry
11. An Example of the IKEA Ethic
IKEA found out a few years ago that a supplier
was giving them wood from rainforests; so
they stopped using that supplier, bought their
own forest, and now plant their own trees to
use.
12. Future Challenges for the IKEA Group
The complexity of the logistics system will increase.
It will be more difficult to respond to national needs and cultural
sensitivity issues.
Franchisees may demand more control over operations.
With all these challenges emerging, it will be very difficult to
maintain a global organizational structure. The best approach
to meet these challenges is to find the proper balance between
country level autonomy and centralized intervention.