IKEA was founded in the year 1943 and is known as the world’s largest home furnishing retailer renowned for its Scandinavian style. The first store of IKEA was launched in Warrington in 1987.The main product includes flat-pack ranging from home furniture and accessories with 9500 products. The broad range products are obtainable in all IKEA stores. The stores are located worldwide and they even developed online website. The stores products vary from restaurants, cafes with Swedish food, small food shops of groceries and famous meatball to jam. The biggest sales store are Germany, U.S.A, France, U.K and Sweden among which U.K has reported up to 18 store till date. In 2008 IKEA enlarge its stores among different countries and start running through franchisees where a person has been licensed for payment and proceeds. It has a huge visitors in a year around 565 million and increase by 7% on sales in 2008.
The core concept of this organization is low price policy, make available everybody life and the environment sustainability in terms of choice of product range, suppliers, stores and communication. IKEA organization has built up a co-ordinated structured of social, economy and environment maintaining a balance level on green target.
SWOT focuses on “STRENGTH, WEAKNESS, OPPORTUNITY, THREATS”. SWOT analysis is an instrument to examine an organization and its environment. It is the initial stage of planning and helps producers to target issues.
Swot analysis is a strategic instrument .IKEA makes use of the strategic planning instrument i.e. swot to analyze the strengthens, threats, weakness and opportunities in its business environment. Strength and weakness being within the control of the business .They are the internal factors and opportunities as well as threats being beyond the control of the business which becomes external factors. A...