SWOT ANALYSIS OF IKEA
IKEA is amongst the biggest retailers of furniture in the world. Would you believe that the business sells more than 10,000 furnishing products from well over 300 stores in around 40 countries. The company has in excess of 600 million visitors to its stores, and its very successful website attracts in excess of 600 million visitors every year. IKEA is a Scandinavian company famous for furniture from living rooms to children's bedrooms. Strengths
*The company offers unique value proposition to consumers.
*IKEA has maintained long-term partnerships with its suppliers. This ensures that the company has access to high-quality materials at reasonable prices. *a strong global brand which attracts key consumer groups. It promises the same quality and range worldwide * its vision 'to create a better everyday life for many people' puts the concern for the environment and people at the heart of the business. * a strong concept based on offering a wide range of well designed, functional products at low prices * a democratic design reaching an ideal balance between function, quality, design and price. IKEA Cost Consciousness means that low prices are taken into account when each product is designed from the outset. * the flat package introduced by IKEA which can be assembled by customers. *A very sustainable firm.
*IKEA is a global company, so product standards may be difficult to maintain. - IKEA IWAY helps ensure same quality in products, same labour standards etc. The IWAY is IKEAs Code of conduct and it defines what suppliers can expect from IKEA and specifies what IKEA requires from its suppliers *Need for low cost products lead to a possible compromise between quality and price. IKEA itself does not think that they compromise. *A global company need to be more aware of dialogue with stakeholders, because of the fact that they are spread out all across the world. Take a lot of time and effort. - IKEA...
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