IKEA Group owned by Stichting INGKA Foundation is the largest furniture and home appliances manufacturer and retailer in the world. Founded seven decades ago in Småland, southern Sweden by Ingvar Kamprad, today IKEA Group has 422 IKEA stores in more than 50 markets.
IKEA employs about 208000 people globally and its portfolio comprises more than 9500 products. IKEA generated retail sales of EUR 38,8 billion during financial year 2018 and it has a healthy profit margin, as well as, strong cash reserves. Interbrand and Forbes estimate IKEA brand value as USD 17,46 billion and USD 15,30 billion respectively. The world’s largest furniture retailer had 957 million store visits in 2018 and there were 2,5 billion visits to the website of the company during the same period.
IKEA’s vision is “to create a better everyday life for the many people” and the company follows an extreme cost leadership business strategy along with new product development strategy to realize this vision. International market expansion strategy also represents an important element of IKEA business strategy. Leadership style exercised to manage the home improvement and furnishing chain can be branded as leading by example, as set by the late founder of the business Ingvar Kamprad.
IKEA possesses a number of noteworthy strengths such as market leadership, ownership and efficient application of democratic design concept and solid financial position of the business. At the same time, the global furniture retailer has serious weaknesses as well. These include weak presence in Russia, difficulty to sustain the competitive advantage and the lack of flexibility of the business due to its large size.
IKEA GROUP Report contains the application of the major analytical strategic frameworks in business studies such as SWOT, PESTEL, Porter’s Five Forces, Value Chain analysis, Ansoff Matrix and McKinsey 7S Model on IKEA. Moreover, the report contains analyses of IKEA’s business strategy, leadership and organizational structure and ecosystem. The report also analysis marketing strategy, ecosystem and discusses the issues of corporate social responsibility.
1. Executive Summary
2. Business Strategy
4. Organisational Structure
5. Organizational Culture
6. IKEA and Ansoff Matrix
7. SWOT Analysis
8. PESTEL Analysis
8.1 Political Factors
8.2 Economic Factors
8.3 Social Factors
8.4 Technological Factors
8.5 Environmental Factors
8.6 Legal Factors
9. Marketing Strategy
9.1 7Ps of Marketing
9.2 Segmentation, Targeting & Positioning
9.3 Marketing Communication Mix
9.3.1 Print and Media Advertising
9.3.2 Sales Promotions
9.3.3 Events & Experiences
9.3.4 Public Relations
9.3.5 Direct Marketing
9.3.6 Personal Selling
10. Porter’s Five Forces Analysis
10.1 Threat of new entrants
10.2 Bargaining power of buyers
10.3 Bargaining power of suppliers
10.4 Threat of substitute products or services
10.5 Rivalry among existing firms
11. IKEA Value-Chain Analysis
11.1 Primary Activities
11.1.1 Inbound logistics
11.1.3 Outbound logistics
11.1.4 Marketing and Sales
11.2 Support Activities
11.2.2 Human Resource Management
11.2.3 Technology Development
12. McKinsey 7S Model
12.1 Hard Elements
12.2 Soft Elements
13. IKEA Ecosystem
14. Corporate Social Responsibility
14.1 CSR Programs and Initiatives
14.2 CSR Criticism
List of Figures
Figure 1 IKEA organizational structure
Figure 2 Overview of the IKEA franchise system
Figure 3 IKEA Ansoff Growth Matrix
Figure 4 IKEA sales per region
Figure 5 Annual Lobbying by IKEA
Figure 6 Changes in wood fibre prices in Western Hemisphere
Figure 7 Number of IKEA catalogues (in millions)
Figure 8 Porter’s Five Forces
Figure 9 Value chain analysis
Figure 10 IKEA procurement strategy
Figure 11 McKinsey 7S model
List of Tables
Table 1 IKEA SWOT analysis
Table 2 IKEA segmentation, targeting and positioning
One Green Bean
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- Published: November 2019
- 12953 Words
- 49 Pages