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Business Consultancy- The case of IKEA Part 1 – Report Table of Contents Executive summary 3 1. Introduction 3 2. IKEA - Situational analysis 4 2.1 Market context of IKEA 4 2.2 SWOT analysis 4 2.3 Competitors 6 2.4 Competitiveness of the organization within its industry – changes required 8 2.5 Implementation of the suggested changes 11 3.
The methods used for the implementation of these strategies are critical for the success of such projects. In the case of IKEA it has been made clear that the change of a firm’s existing operational strategies is feasible only if the relevant plans are fully supported by the organization’s stakeholders. 1. Introduction IKEA is the most powerful firm – in terms of its market position – in the Home Furnishings & Housewares Retail industry (Hoovers 2010). The success of the firm in the global market has been related to the following strategies: a) the emphasis given on innovation, b) the offering of fine products at competitive price, so that most consumers are able to buy them, c) the facilitation of shopping – ‘tape measures, pencils, shopping list and catalogues’ (Kendrick et al. 2010, p.340) are available in the firm’s stores for facilitating shopping. IKEA has become popular for ‘the design and layout of its stores’ (Griffin 2006, p.344); at the same time, the low prices of its products – compared to similar products of competitors – has been a key reason for the firm’s high level of sales – as of the particular industry – within the global market. ...
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