Ikea

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Content: Page Number
1. History and background……………………………………………(2~3)

2. IKEA’s vision, mission and objectives……………………………...(3)

3. IKEA’s growth strategy……………………………………………….(4)

4. How did Ikea’s strategy initiative start?.........................................(4~5)

5. How monitoring and evaluation of operations are carried out?....(5~6)

6. Information Management system of IKEA………………………...(6~10)

7. Shopping at IKEA Franchises……………………………………..(10~13)

8. Summary……………………………………………………………….(14)

9. References……………………………………………………………..(15)

History and background
IKEA is a privately held, international home products company that designs and sells ready-to-assemble furniture. Ikea is made up of two other businesses, INGKA Holding B.V; which is the "parent company" for all of IKEA's group companies and Swedwood industrial group; which manufactures IKEA furniture, the sales companies that run IKEA stores, as well as purchasing and supplying functions, and IKEA of Sweden, which is responsible for the design and development of products in the IKEA range. INGKA Holding BV is solely owned by Stitching INGKA Foundation, which is a foundation registered in the Netherlands. The company is the world's largest furniture retailer. The name IKEA was formed from Kamprad’s initials (I.K) plus the first letters of Elmtaryd and Agunnaryd, the farm and the village where he grew up. The company is known for its modern architectural designs on various types of appliances and furniture, often associated with a simplified eco-friendly interior design. In addition, the firm is known for the attention it gives to cost control, operational details and continuous product development, allowing it to lower its prices by an average of two to three percent over the decade to 2010, while continuing its global expansion. The first Möbel-IKÉA store was opened in Älmhult, Småland in 1958 while the first stores outside Sweden were opened in Norway (1963) and Denmark (1969). The stores spread to other parts of Europe in the 1970s, with the first store outside Scandinavia opening in Switzerland (1973), followed by Germany (1974). Things were going so well for the company, that in 1973, the company's German executives accidentally opened a store in Konstanz when they had meant to open one in Koblenz. Later that decade, stores opened in other parts of the world, including Japan (1974), Australia and Hong Kong (1975), Canada (1976) and Singapore (1978). IKEA further expanded in the 1980s, opening stores in France & Spain (1981), Belgium (1984), the United States (1985), the United Kingdom (1987) and Italy (1989) among other areas. The company expanded into more countries in the 1990s and 2000s. Germany, with 44 stores, that make IKEA's biggest market, followed by the United States, with 37 stores. At the end of 2009 financial year, the IKEA group had 267 stores in 25 countries. The first IKEA store in Latin America opened on February 17, 2010 in Santo Domingo, Dominican Republic. However, the company has thus far not shown much of a presence in the developing countries. Inter IKEA Systems B.V. was established in 1983 in the Netherlands, when it started to document and develop the IKEA retail system. Inter IKEA Systems B.V is the owner of the IKEA Concept and the worldwide IKEA franchisor. It is also a company within the Franchise Division of the Inter IKEA Group. The Franchise Division includes service companies and companies selling IKEA products to franchisees on certain markets. The Inter IKEA Group is owned by the Interogo Foundation, which is an enterprise foundation based in Liechtenstein. The Interogo Foundation has the main purpose to support and invest in expansion of the Inter IKEA Group and the IKEA Concept and ensure long-term success. The foundation owns itself and the Kamprad family is on the supervisory board. IKEA’s vision, mission and objectives

The IKEA’s vision is ‘’To create a...
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