The paper 'IKEA’ s Competitive Standard, Its Management Strategies" is a good example of a management case study. In this fast-growing corporate world, organizations are competing for wider markets than others in various ways. For an organization to succeed in the global market, it is essential that it adopts appropriate business models, marketing, management and leadership strategies that will compel the company towards success. Some of the management strategies that are essential in an organization include scientific management, administrative management, behavioral management, theory X and theory Y, management science theory, and organization environment theories.
Therefore, this paper intends to analyze the IKEA’ s competitive standard, its management strategies. IKEA background information IKEA is a private, global home products organization that deals in designing and selling ready-to-assemble furniture like appliances, desks and home accessories. This organization is the largest furniture retailer in the globe. It was established in 1943 by a 17-year-old Ingvar Kamprad in Sweden, and the company was named as the founder name’ s acronym that comprises of Ingvar Kamprad, and where he grew Elmtaryd, and the home parish Agunnaryd, in South Sweden (Mellen 2010, pp.
288-300). IKEA concept and trademark is regulated by a series of firms that are traceable to Interogo Foundation and Netherlands Antilles Liechtenstein. The companies forming IKEA are under INGKA Holding B. V., a Dutch corporation that is controlled by a tax-exempt, non-profit Dutch foundation. The INGKA Holding B. V. is the owner of the industrial group Swedwood that is the sources the IKEA manufacturing, its sales companies, and IKEA of Sweden, that is responsible for development and design of products in the IKEA variety (Mellen 2010, pp. 288-300). IKEA SWOT analysis IKEA’ s objectives and goals environmental and sustainability design is critical to its business strategy.
The company has launched a modern sustainability plan to carry the company forward through 2015. The strategy, therefore, environment, social, and economic issues. SWOT analysis is vital to the company because it facilitates the achievement of its objectives. This is a strategic planning instrumental that enables the firm to focus on major issues (Mellahi & Guermat 2004, pp. 199-215). Threats and opportunities entail external factors affecting the success of the company. This implies that there are outside factors that influence business and they include economic situation, environment, technological advances like the internet, and social changes.
Every business can from opportunities and counter threats by making a majority of its strengths and tackling its weaknesses (Fleisher, 2007, pp. 30-36). Strengths Some of the company’ s strengths are based on its location and special marketing capability. These are any business features that add value to its service and product. Therefore, some of its strengths include a strong international brand that attracts major consumer groups, and it promises similar quality and variety globally. Secondly, Mellen (2010, pp.
109-120) says that the company’ s vision is dedicated to creating a better daily life for several people. The company also has a strong concept whose basis of offering a broad range of appropriately designed operational products at reduced prices. Additionally, the company’ s effectiveness is brought out by a democratic design that enables the firm to reach an ideal balance between operation, design, quality, and price. IKEA’ s cost-consciousness implies that reduced prices are considered when every product is designed from the start.
Adetule, PJ 2011, Handbook on management theories, Author House, Bloomington. Pp. 4-20.
Berger, A 2011, Operations Management: IKEA, GRIN Verlag, Norderstedt, Germany. Pp. 1-20.
Berglund, M & Rapp, G 2010, The Management Control System Package of IKEA Backebol- A Case Study. Spring terms. Pp. 1-35.http://gupea.ub.gu.se/bitstream/2077/23217/1/gupea_2077_23217_1.pdf
Daft, R 2010, Management, South-Western/Cengage Learning, Andover. Pp. 234-240.
Das, VV, 2010, Information processing and management International Conference on Recent Trends in Business Administration and Information Processing, BAIP 2010, Trivandrum, Kerala, India, March 26-27, 2010 : proceedings, Springe, Berlin. Pp. 12-19.
Fleisher, C 2007, Business and competitive analysis: effective application of new and classic methods, Financial Times Press, Upper Saddle River, NJ. Pp. 30-36.
Heldman, K 2011, PMP: project management professional exam: study guide, Wiley, Indianapolis, Ind. Pp. 40-56.
Hill, C & Jones, G 2010, Strategic management theory: an integrated approach, South-Western/Cengage Learning, Mason, OH. Pp. 105-200.
Hill, C & Jones, G 2011, Essentials of Strategic Management, South-Western Pub, Mason, OH. Pp. 95-100.
Hitt, M 2011, Strategic management: competitiveness & globalization, South-Western Cengage Learning, Mason, OH. Pp. 59-65.
Horn, S 2010, Understanding global strategy, Cengage Learning, Andover. Pp. 395-402.
IKEA 2005, Introduction to Global Strategic Management. Case Study. Pp. 1-27. http://www.oup.com/uk/orc/bin/9780199266159/mellahi_ch01.pdf
Kolko, J 2011, Thoughts on interaction design a collection of reflections, Morgan Kaufmann, Burlington, MA. Pp. 29-32.
Koontz, H 2007, Essentials of management: an international perspective, Tata McGraw-Hill, New Delhi. Pp. 21-30.
Luther, W 2011, The marketing plan: how to prepare and implement it, AMACOM, New York. Pp. 109-120.
Mellahi, K, & Guermat, G 2004, ‘Does age matter? An empirical investigation of the effect of age on managerial values and practices in India’, Journal of World Business, vol 39, no. 3, pp. 199–215.
Mellen, C 2010, Valuation for M&A: building value in private companies, Wiley, Hoboken, N.J. Pp. 288-300.
Sapru, RK 2006, Administrative theories and management thought, Prentice-Hall of India, New Delhi. Pp. 3-17.
Smith, NC, Bhattacharya, CB &Vogel, D 2010, Global challenges in responsible business, Cambridge University Press, Cambridge New York. Pp. 171-180.