It has grown rapidly since it was founded in Today it is the world's largest furniture retailer, recognised for its Scandinavian style. The majority of IKEA's furniture is flat-pack, ready to be assembled by the consumer.
It has grown rapidly since it was founded in This allows a reduction in costs and packaging. IKEA carries a range of 9, products, including home furniture and accessories.
There are 18 stores in the UK to date, the first of which opened in Warrington in They also have small food shops selling Swedish groceries, everything from the famous meatballs to jam.
Stores are located worldwide. In August the IKEA group had stores in 24 countries, with a further 32 stores owned and run by franchisees.
It welcomed a total of million visitors to the stores during the year and a further million visits were made to the IKEA website. IKEA sales reached In IKEA opened 21 new stores in 11 countries and expects to open around 20 more in as part of its strategy for growth.
This low price strategy is coupled with a wide range of well designed, functional products. Since it was founded IKEA has always had concern for people and the environment. It has also spotted business potential in providing sustainable solutions.
This keeps costs down and helps the company to reach its green targets and have an overall positive impact on the environment. This case study will show why IKEA believes a strong environmental stance is good business practice.
It has launched a new sustainability plan to take the company through to This will combine social, environmental and economic issues.
This is a strategic planning tool. It helps the business to focus on key issues. SWOT is the first stage of planning and looks at the Strengths, Weaknesses, Opportunities and Threats involved in a project or business venture.
Strengths and weaknesses are internal aspects. This means that they are within the control of the business.
They may refer to aspects of marketing, finance, manufacturing or organisation. Opportunities and threats are external factors. This means that they are outside the control of the business. These may include the environment, the economic situation, social changes or technological advances, such as the internet.
A business can create opportunities and counter threats by making the most of its strengths and addressing its weaknesses. In addition, it develops its product plans to increase its use of waste or recycled materials.
The knots in this wood usually mean it is rejected by other retailers and manufacturers as unsuitable for use. However, IKEA has made the knots part of its design feature.
They are any aspect of the business that adds value to its product or service. These strengths contribute to IKEA being able to attract and retain its customers.
KPIs help IKEA to assess the progress of its vision and long-term goals by setting targets and monitoring progress towards these. This guideline defines the social and environmental requirements IKEA expects of its suppliers. IKEA has strengths right through its production processes: Volume commitments — IKEA believes in creating long-term partnerships with its suppliers in order to achieve this.
By committing to buying large volumes over a number of years IKEA can negotiate lower prices. This also benefits the suppliers because they enjoy the greater security of having guaranteed orders.
Economies of scale — for instance, bulk buying at cheaper unit costs. Sourcing materials close to the supply chain to reduce transport costs. Delivering products directly from the supplier to IKEA stores. This slashes handling costs, reduces road miles and lowers the carbon footprint.
The chair has changed through the years to reduce the amount of raw materials needed.IKEA uses SWOT analysis to help reach its goals of sustainability and environmental design. It is a strategic planning tool to help businesses identify key issues. It looks at the Strengths, Weaknesses, Opportunities and Threats involved in a project.
The Times / IKEA / SWOT analysis and sustainable business planning / Introduction SWOT analysis and sustainable business planning An IKEA case study Introduction IKEA is an internationally known home furnishing retailer. It has grown rapidly since it was founded in Today it is the world's largest furniture retailer, .
IKEA Case Study- SWOT Analysis and Sustainable Business Planning Tight deadlines, Unclear tasks, Clashing assignments are giving you sleepless night?/5(14K).
SWOT analysis and sustainable business planning. This case study will show why IKEA believes a strong environmental stance is good business practice.
SWOT analysis. IKEA's goals of sustainability and environmental design are central to its business strategy. It has launched a new sustainability plan to take the company through to This case study will show why IKEA believes a strong environmental stance is good business practice.
77 SWOT analysis and sustainable business planning leslutinsduphoenix.com CURRICULUM TOPICS • Strengths • Weaknesses • Opportunities • Threats SWOT is the first stage of planning and looks at the .
SWOT analysis and sustainable business planning An IKEA case study. Below is a list of Business Case Studies case studies organised alphabetically by company.