IKEA (Ingvar Kamprad Elmtaryd Agunnaryd) is a privately held‚ international home products Swedish corporation that designs and sells ready-to-assemble furniture‚ appliances and home accessories. The company is now the world’s largest furniture retailer.[2] IKEA was founded in 1943 by 17-year-old Ingvar Kamprad in Sweden‚ named as an acronym comprising the initials of the founder’s name (Ingvar Kamprad)‚ the farm where he grew up (Elmtaryd)‚ and his home parish (Agunnaryd‚ in Småland‚ South Sweden)
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Founded in 1943 by Ingvar Kamprad‚ IKEA generated the sales of 23.1 billion Euros in 2010 through its operations in more than 38 different countries with 27 distribution centres. The IKEA Group has 280 stores in 26 countries and the remaining of the stores are run by franchisees (Berger‚ 2011). The business concept of IKEA involves selling high volume of mostly furniture products in low prices. Moreover‚ “with an aim of lowering prices across its entire offering by an average of 2% to 3% each year
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furniture retailer due in large part to its founder Ingvar Kamprad’s charismatic personality combined with his own philosophy of business management and the Scandinavian style of open management he has parlayed a fortune that will be left to one of his children who has proven their own business acumen by running one of his many companies profitably. According to Kamprad himself in his July 23‚ 2008 Acticule published by stoked in Major Companies Kamprad states; Ikea‚ the world’s largest home furniture
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Abstract--------------------------------------------------------------3 2. Introduction---------------------------------------------------------4 3. Measures of success-----------------------------------------------4 4. Reasons Behind success-------------------------------------------5 5. Leadership in IKEA-----------------------------------------------6 6. Recommendations--------------------------------------------------7 7. References-----------------------------------------------------------8 Abstract. This research paper studies
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founded in 1943 by 17 years old in Sweden and it is owned by a Dutchregistered foundation controlled by the Kamprad family. The company that was originated in Småland‚ Sweden distributes its products through its retail outles. As of August 2009‚ the chain has 301 stores in 37 countries‚ most of them in Europe‚ North America‚ Asia and Australia. The IKEA concept began when Ingvar Kamprad‚ an entrepreneur from the Småland province in
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simultaneously in two European countries (United Kingdom and Italy)‚ the United States‚ and several Eastern bloc countries. Finally‚ there was widespread concern about the future of the company without its founder‚ strategic architect‚ and cultural guru‚ Ingvar Kamprad. IKEA BACKGROUND AND HISTORY In 1989‚ furniture retailing worldwide was a fragmented industry in which small manufacturers and distributors catered to the demands of their local markets. Consumer preferences varied by region‚ and there
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beds‚ chairs‚ and desks)‚ appliances‚ and home accessories. As of January 2008‚ the company is the world’s largest furniture retailer.[4] Founded in Sweden in 1943 by a 17-year-old Ingvar Kamprad‚ who is one the world’s richest people in 2013‚[5] the company’s name is an acronym that consists of the initials of Ingvar Kamprad‚ Elmtaryd (the farm where he grew up)‚ and Agunnaryd (his hometown in Småland‚ South Sweden).[6] The company is known for its modern architectural designs for various types of appliances
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Edward Kaikumba BUSN 204: Case Problems in Business October 24th‚ 2014 IKEA Analysis Introduction At a very young age Ingvar Kamprad showed signs of having an excellent sense of thrift. Even at age five‚ it is documented that through the resale of matches throughout the city of Stockholm‚ Ingvar was profitable displaying a knack for appeasing customer needs. Combining the initials of his first name IK and the first letters of the farm and village where he was born (Elmtaryd and Agunnaryd) EA
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market prefer Bulgarian-made furniture‚ high prices are seen as a sign of high quality‚ so most furniture pieces produced by the companies are considered high priced and hardly affordable for the majority of people. IKEA was founded in 1943 by Ingvar Kamprad. It started as a place where a person can buy pens‚ picture frames‚ watches‚ etc. and with the time turned to be the world’s largest furniture retailer. One of the main aims of the organisation include: keeping costs low and assist customers and
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lives in a bungalow‚ flies easyJet and ’dries out’ three times a year... the man who founded Ikea and is worth more than £15bn Self-made man: Ingvar Kamprad with wife Margaretha In his faded coat‚ tinted prescription glasses and scuffed shoes‚ he looks like just another pensioner scraping by on a tight budget. But the man pictured here is Ingvar Kamprad‚ the reclusive Swedish founder of Ikea. And he is worth £15.7billion. That makes him the world’s seventh richest man‚ but the 81-year-old
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