Strategic Management in IKEA - Case Study Example

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Strategic Management in IKEA

Businesses usually define their goals and objectives through mission statement and vision that are imprinted on the organizations product. According to Knapp (1999, p.75)3, mission and vision statements generally represent the purpose of the organization which is evident in the present case study of IKEA where IKEA's mission is to
Whereas the vision is to provide better everyday life to all and IKEA formulates its strategies based on the mission and vision which aims to provide better life by offering its products at lower cost than in the market. Austin and Pinkleton (2006, p.19)4 mentions that mission statement sets out strategic focus for accomplishing long term outcome and vision conveys the long term ideal which is evident in IKEA's scenario. Further vision shares the organizations values that are intended to support their mission. ...
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The global economy has passed the 'tipping point' in the transition from an industrial, goods - centered to an innovation, service centered logic and in the competitive world of business, dominant logic and innovative technologies, methods and concepts evolve in a particular way to create new product or service (Davenport, Leibold and Voelpel, 2006, p.22).1 Dyck and Neubert (2008, p.260) described strategic management in four step process which includes reviewing of mission and vision of the organization, analyzing the organizations external environment and internal resources, choosing and developing the appropriate strategy and implementing the selected strategy.2 Hence the present paper att…
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Table of Contents Introduction – Company background 3 Analysis of IKEA’s Business Model and its Strategic Positioning (Question 1) 3 IKEA’s Internationalisation Strategy 4 The internationalisation in the USA (question 2) 5 Current Asian markets (China and Japan)(question 3) 6 Further Asian Expansion (question 4) 8 Current Business Environment (question 5) 9 PESTEL 9 Industry analysis 10 SWOT 11 TOWS 13 References 14 Appendix 1 – The IKEA Concept 16 APPENDIX 2 Ikea’s International presence 19 Introduction – Company background Founded in 1943 by 17-year-old in Sweden, IKEA is named...
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