Strategic Management and Ikea
Introduction to Management
Strategic Management Plan for IKEA
Lecturer: DR PRASAD
Contents
1.0 Introduction
2.0 SWOT Analysis
3.0 External Analysis (General Environment) based to: 4.1 Political Forces & Legal Factors 4.2 Economic Conditions 4.3 Socio-cultural Conditions 4.4 Technological Changes 4.5 Environment Factors
4.0 External Analysis (Competitive Environment) based on: 5.6 Intensity of rivalry among competitors 5.7 The threat of new entrants 5.8 The threat of substitutes 5.9 Suppliers 5.10 Customers
5.0 Internal Analysis based on: 6.11 Resources Types 6.12 Firms Capabilities
6.0 General Conclusion
7.0 Recommendations
8.0 Citations and References
1.0 Introduction
This report sets out a strategic plan for IKEA. It seeks to identify the various components within the management framework that enables the organisation to seek future developments and win against competition. The report will review the company’s strengths, weaknesses, threats and opportunities and sets out its proposed strategies and goals.
IKEA was founded in 1943 in Sweden by Ingvar Kamprad. Kamprad was born in 1926 as the son of a farmer in Smaland, a region in southern Sweden. The word IKEA was actually an acronym of his name and address: Ingvar Kamprad and Elmtaryd, Agunnaryd; the name of his farm and the name of the village which it was located within.
IKEA initially was a one-man effort, with Kamprad selling fish, vegetable seeds and magazines to customers in his region. The turning point came in 1965 when Kamprad opened a store just outside the major city of Stockholm, to show what could be done in the way of designing and selling modern low-priced furniture in a large market.
IKEA products are so wide in function, from plants to furnishing living rooms to decorating the kids’ playroom
Strategic Management Plan for IKEA
Lecturer: DR PRASAD
Contents
1.0 Introduction
2.0 SWOT Analysis
3.0 External Analysis (General Environment) based to: 4.1 Political Forces & Legal Factors 4.2 Economic Conditions 4.3 Socio-cultural Conditions 4.4 Technological Changes 4.5 Environment Factors
4.0 External Analysis (Competitive Environment) based on: 5.6 Intensity of rivalry among competitors 5.7 The threat of new entrants 5.8 The threat of substitutes 5.9 Suppliers 5.10 Customers
5.0 Internal Analysis based on: 6.11 Resources Types 6.12 Firms Capabilities
6.0 General Conclusion
7.0 Recommendations
8.0 Citations and References
1.0 Introduction
This report sets out a strategic plan for IKEA. It seeks to identify the various components within the management framework that enables the organisation to seek future developments and win against competition. The report will review the company’s strengths, weaknesses, threats and opportunities and sets out its proposed strategies and goals.
IKEA was founded in 1943 in Sweden by Ingvar Kamprad. Kamprad was born in 1926 as the son of a farmer in Smaland, a region in southern Sweden. The word IKEA was actually an acronym of his name and address: Ingvar Kamprad and Elmtaryd, Agunnaryd; the name of his farm and the name of the village which it was located within.
IKEA initially was a one-man effort, with Kamprad selling fish, vegetable seeds and magazines to customers in his region. The turning point came in 1965 when Kamprad opened a store just outside the major city of Stockholm, to show what could be done in the way of designing and selling modern low-priced furniture in a large market.
IKEA products are so wide in function, from plants to furnishing living rooms to decorating the kids’ playroom