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IKEA Analysis - Essay Example
Author : toygiovanna
Pages 10 (2510 words)
IKEA – Internal Analysis Contents Sr. # Topic Pg. # 1. Brief overview 2 2. Introduction 3 3. Internal Analysis: 5 3.1. VRIO Framework 5 3.2. Value chain analysis 7 4. Conclusion 12 References 14 1. Brief Overview: Background Sustaining one’s competitive positioning in an industry which is highly complex and globalized, is one of the most crucial challenges faced by managers in recent times…
Retaining competitive advantage is inevitable for firms to ensure profitability. This can be achieved by implementing effective management strategies and processes that allow them to conduct a thorough internal analysis of their businesses, such as benchmarking, value chain analysis etc., to name a few. For the purpose of this paper, benchmarking as a method of internal analysis is used and applied on IKEA. The process of benchmarking is of vital significance for organizations today, since it affords them the ability to compare their performance with that of their rivals or similar processes within their own organizations. The process was first used and introduced by Xerox Corporation, with a view to gain competitive advantage over their rivals in the industry, and capitalize on their strengths by overcoming their weaknesses and limitations (Zairi, 1996). ...