Ikea Swot Analysis - 1017 Words

INTRODUCTION: IKEA was founded in the year 1943 and is known as the world’s largest home furnishing retailer renowned for its Scandinavian style. The first store of IKEA was launched in Warrington in 1987.The main product includes flat-pack ranging from home furniture and accessories with 9500 products. The broad range products are obtainable in all IKEA stores. The stores are located worldwide and they even developed online website. The stores products vary from restaurants, cafes with Swedish food, small food shops of groceries and famous meatball to jam. The biggest sales store are Germany, U.S.A, France, U.K and Sweden among which U.K has reported up to 18 store till date. In 2008 IKEA enlarge its stores†¦show more content†¦The large scale operation of IKEA makes its communication activities with the shareholder and customers difficult. In order to reach its consumers IKEA uses TV, radio and print media as a medium of communication. Due to the large scale global business operations of IKEA , controlling standards and quality becomes a difficult task specially in few countries law doesn’t have any influence over the working conditions, which in turn well to cause a disturbance in the supply chain influencing the view of the customers with respect to the credibility of the product. THREATS Any company should be aware of the threats that will have to face in the forthcoming time. So there are certain precautions that are to be made in prior to the threat being affected. There should be certain strengths that can overcome threats. For IKEA there were 3 factors wherein it helped to face the threat and get cautioned Social factor: Core market segments Market factor: Market competition for the product Economic factor: Disposable income Positive outcome- * online help to guide customers to a more sustainable life. * focus on home improvement in the slowing housing market. * lowers average costs in the long run * cost savings are then passed on to customers in the form of lower prices * puts up high barriers to entry for smaller companies entering the market. * products will also appeal to thoseShow MoreRelatedIkea Swot Analysis966 Words   |  4 PagesAhere are certain tools that helps in developing an insight view of the company such as PESTLE/STEP analysis, SWOT, resourced based view and value chain, which helps in giving the information that reveals the current position of the firm in the market. Further, these tools have been used to analyse Goldman Sachs. â€Å"A company which is a leading global financial services firm providing investment banking, securities and investment management services to a substantial and diversified client base thatRead MoreSwot and Pestel Analysis for Ikea Singapore3062 Words   |  13 Pagesstudy of IKEA ----------------------------------------------------------------------------- 5 - 6 * Introduction of Company SWOT ANALYSIS of IKEA ------------------------------------------------------------------- 7 - 8 EXTERNAL ANALYSIS (GENERAL ENVIRONMENT - PESTEL) ----------------- 9 - 10 * Explanation of General Environment * Political Forces * Economic Conditions * Socio-cultural Conditions * Technological Changes * Environment Factors * Legal Factors EXTERNAL ANALYSIS (COMPETITIVERead MoreIkea Swot Analysis1089 Words   |  5 PagesSupply chain strategies. 1.1. Packaging concept. The flat packaging is known of its IKEA which is very effective for transporting products because more products can be shipped at the same time. Consequently, transportation cost will be cheaper. Furthermore, the flat packaging reduces some materials usage. However, it has some weak areas to work on such as protection and unitization. 1.2. New unit load carrier. IKEA has created new carrier which is called â€Å"Loading ledge†, is a flexible unit loadRead MoreIKEA SWOT Analysis998 Words   |  4 Pagesï » ¿IKEA SWOT analysis Strengths Weaknesses 1. Customer knowledge 2. Constantly using innovations to drive costs down 3. Supply chain integration 4. Brand reputation and market presence 5. Diversified product portfolio 1. Negative publicity 2. Decreasing quality 3. Standard products Opportunities Threats 1. Further expansion into developing economies 2. Growing online sales 3. Expansion to growing grocery market 1. Intensifying competition 2. Growth of average consumer income 1. Customer knowledgeRead MoreSwot Analysis Of Ikea1946 Words   |  8 PagesIntroduction This is a SWOT Analysis of IKEA. Crandall, Parnell, and Spillan (2013) states that a SWOT Analysis is â€Å"based on a systematic, comprehensive analysis of internal attributes, also referred to as strengths and weaknesses; and of factors external to the organization†¦Ã¢â‚¬  (p. 84). This paper seeks to explore those such attributes. Ikea is an international organization that was organized in Sweden in 1943. Its premise is retail furnishings and has become the world’s premier or leading furnitureRead MoreSwot Analysis Of Ikea Furniture Market814 Words   |  4 PagesCompetitor’s analysis Analyzing current global furniture market, it will be said that the top big global competitors for the company will be IKEA and Ashley furniture companies. SWOT of IKEA furniture Strength †¢ Brand reputation and market presence †¢ Supply chain integration †¢ Customer Knowledge †¢ Constantly using innovations to drive costs down †¢ Diversified product portfolio Read MoreSwot and Pestel Analysis for Ikea Singapore3046 Words   |  13 Pages4 Case study of IKEA ----------------------------------------------------------------------------- 5 - 6 * Introduction of Company SWOT ANALYSIS of IKEA ------------------------------------------------------------------- 7 - 8 EXTERNAL ANALYSIS (GENERAL ENVIRONMENT - PESTEL) ----------------- 9 - 10 * Explanation of General Environment * Political Forces * Economic Conditions * Socio-cultural Conditions * Technological Changes * Environment Factors * Legal Factors EXTERNAL ANALYSIS (COMPETITIVE ENVIRONMENT)Read MoreSwot Analysis : A Swot1371 Words   |  6 Pages SWOT analysis is valuable in understanding and revising the position of the company before decisions are made about company direction or the application of a new business idea. PEST is a tool to assess external factors. It is useful to complete a PEST analysis before a SWOT, although it may be more useful to complete a PEST analysis during, or after, a SWOT. SWOT and PEST are vital in determining the success of a business. SWOT analysis is a form of situational analysis in which internal strengthsRead MoreMarketing in the Operational Context: the Case of Ikea1261 Words   |  6 PagesOF IKEA I. Introduction In the recent years, the operations of many businesses have become global in nature. The internationalization of businesses phenomenon paved the way for various organizations to conveniently expand in other nations. By penetrating the international marketplace, organizations are able to acquire greater market in which to sell their products or provide business. One of the largest companies that has become global today is IKEA. As Swedish-based company, IKEA is aRead MoreFaclity Management in IKEA Company1424 Words   |  6 Pagesmanagement’. For this subject all First year IFM students have to write a report about a company. In the report I look at the internal and external developments of the company. The company I choose is IKEA. Executive summary The main purpose of this report is to analyze the IKEA Company. To do this the internal and external factors are going to be discussed, and analyzed using the DESTEP method and the 7s model. The DESTEP method is used to analyze the external environment of