Ikea Business Essay

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  • Topic: IKEA, Privately held company, Public company
  • Pages : 41 (15218 words )
  • Download(s) : 91
  • Published : May 7, 2013
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YEAR 11
BOM
PROJECT AND PRACTICAL WORK
YEAR 11
BOM
PROJECT AND PRACTICAL WORK
IKEA REPORT
KIT WOOD
IKEA REPORT
KIT WOOD

Statement of Authorship:
I certify that the work submitted as part of this assignment is my own and that any externally obtained assistance or sources is acknowledged. I am also aware that plagiarism can result in severe penalties.

Signature of Student: ………………………………………………………………………………………..

Date:………………………………………………………………………………………………………………... Statement of Authorship:
I certify that the work submitted as part of this assignment is my own and that any externally obtained assistance or sources is acknowledged. I am also aware that plagiarism can result in severe penalties.

Signature of Student: ………………………………………………………………………………………..

Date:………………………………………………………………………………………………………………... 008146

DRAFT DUE DATE: 19 APRIL 2013

FINAL DUE DATE: 3 MAY 2013
008146

DRAFT DUE DATE: 19 APRIL 2013

FINAL DUE DATE: 3 MAY 2013

Table of Contents

1.0Introduction2
1.1IKEA History2
1.2 Organisations3
1.3IKEA as a Company4
2.0Objectives and Goals5
2.1 Mission Statement7
2.2 IKEA’s Mission Statement8
3.0Legal and Financial Undertakings9
3.1Types of Businesses9
3.2Types of Finance10
3.3Legal Undertakings11
4.0Organisational Structure12
4.1IKEA’s Organisational Structure13
5.0External Factors/Forces14
5.1IKEA as an Open System15
6.0Stakeholders17
6.1IKEA’s Internal Stakeholders18
6.2IKEA’s External Stakeholders18
7.0Evaluation of Business Success20
7.1SWOT Analysis20
7.2 IKEA’s SWOT Analysis21
7.2Efficiency and Effectiveness22
7.3 Social Responsibility23
8.0Recommendations25
9.0Conclusion27
Appendix 129
Appendix 230
Appendix 331
Appendix 434
Bibliography35

1.0 Introduction

IKEA is one of the most recognized furniture brands all over the world. It appeals mostly to the young and hip audience, as it makes affordable furniture and home furnishings choices available to those just starting out on their own. IKEA furniture is affordable to a wide range of people, attractive and is of high quality. It has grown rapidly since it was founded in 1943. 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. This allows a reduction in costs and packaging. IKEA carries a range of 9,500 products, including home furniture and accessories. This wide range is available in all IKEA stores and customers can order much of the range online through IKEA's website. (IKEA, 2013) IKEA stores include restaurants and cafes serving typical Swedish food. They also have small food shops selling Swedish groceries, everything from the famous meatballs to jam. In August 2008 the IKEA group had 253 stores in 24 countries, with a further 32 stores owned and run by franchisees. It welcomed a total of 565 million visitors to the stores during the year and a further 450 million visits were made to the IKEA website. (IKEA, 2013) This business report will cover the major aspects of the business IKEA, and how it is organised to be the successful business it is today. This report will cover the objective and goals of IKEA, their mission statement, legal and financial undertakings, organisational structure, external factors/forces, stakeholders, and evaluation of the business’ success and any recommendations that IKEA should take in to help make their business stronger and more successful leading to increased profits for IKEA. 2.1 IKEA History

The founder of IKEA, Ingvar Kamprad, began his entrepreneurial business career as a young boy selling matches sold in bulk for a profit to his neighbours near Agunnaryd. As his business grew, he expanded to selling fish, seeds, Christmas decorations and eventually, pencils and ball-point pens which were just new in 1935. In 1943, at...
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