Internationalization (IKEA case)
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Overview of internationalization process for IKEA, made for Saimia University Studies.
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International Business Strategy of IKEA
IKEA has been able to reduce the price of its furniture by outsourcing production to low-cost regions like Eastern Europe and Asia. It maintains close relationships with over 1,400 suppliers, with the majority located in China and Poland. IKEA owns the rights to its product designs and minimizes costs through outsourcing all production activities while developing extensive supply chains abroad. It also established Swedwood as a subsidiary supplier with advanced production facilities, mainly in Eastern Europe, to further reduce costs. In China, IKEA planned to open 10 stores by 2010 to reflect Chinese apartment layouts and offer rare home delivery given low car ownership rates.
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This document is a case study analysis of IKEA, the largest furniture retailer in the world. It provides background information on IKEA's history, vision, mission, objectives, organizational structure, and financial analysis. The case study analyzes how IKEA became successful by pioneering affordable flat-pack furniture and applying a low-cost business model. It also summarizes IKEA's financial growth from 2009 to 2010, with increases in net income, revenue, and gross profit driven by new store openings and sales growth.
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IKEA is the world's largest furniture retailer founded in Sweden in 1943. It sells flat-pack furniture and home goods through its 301 stores across 37 countries. IKEA pioneered affordable yet functional design through cost-cutting like flat-packing and using its trademark style guide. It aims to improve everyday life through well-designed, affordable home products while maintaining sustainability and positive social and environmental practices.
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International Business Strategy of IKEA
IKEA has been able to reduce the price of its furniture by outsourcing production to low-cost regions like Eastern Europe and Asia. It maintains close relationships with over 1,400 suppliers, with the majority located in China and Poland. IKEA owns the rights to its product designs and minimizes costs through outsourcing all production activities while developing extensive supply chains abroad. It also established Swedwood as a subsidiary supplier with advanced production facilities, mainly in Eastern Europe, to further reduce costs. In China, IKEA planned to open 10 stores by 2010 to reflect Chinese apartment layouts and offer rare home delivery given low car ownership rates.
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This document is a case study analysis of IKEA, the largest furniture retailer in the world. It provides background information on IKEA's history, vision, mission, objectives, organizational structure, and financial analysis. The case study analyzes how IKEA became successful by pioneering affordable flat-pack furniture and applying a low-cost business model. It also summarizes IKEA's financial growth from 2009 to 2010, with increases in net income, revenue, and gross profit driven by new store openings and sales growth.
Ikea Case Study
IKEA is the world's largest furniture retailer founded in Sweden in 1943. It sells flat-pack furniture and home goods through its 301 stores across 37 countries. IKEA pioneered affordable yet functional design through cost-cutting like flat-packing and using its trademark style guide. It aims to improve everyday life through well-designed, affordable home products while maintaining sustainability and positive social and environmental practices.
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This document compares the costs and benefits of using exhibitions versus showrooms to help small and medium enterprises find new partners and enter foreign markets. It finds that while exhibitions allow companies to meet many potential partners over a short period, they are very expensive, costing between 17,000-24,000 EUR. Showrooms, on the other hand, have much lower daily costs of around 133 EUR but allow regular meetings over a longer 30 day period, making them a more affordable option for small businesses. The document recommends showrooms as the best solution for SMEs looking to solve logistical challenges and expand into new international markets.
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