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Business History Of IKEA

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IKEA is a Swedish company founded in 1943 with its headquarters in Denmark, is a multinational chain of stores for home furnishing and furniture. It is the biggest furniture retailer, which specializes, in stylish and inexpensive Scandinavian designed furniture.
IKEA story begins in 1926 when founder Ingvar Kamprad is born in in southern Sweden. He is raised a farm near the small village of Agunnaryd. Even as a young boy Ingvar knows he wants to develop a business. Ikea take the name from the initials of Ingvar Kamprad I and K, plus the first letters of Elmtaryd and Agunarrid witch the names of the farm he grew up.
How and why it developed
The business idea was to offer a wide range of well designed, home furnishing products in low prices.so, …show more content…

It promises the same quality and range worldwide its vision is to create a better daily life for many people.
IKEA futures:
• TIMING: an important future for IKEA stores is their long opening hours
• RESTAURANT: many stores have restaurant in the store that offers a big variety of foods
• GROCERY store
Technologies that based on
IKEA website is a well maintained for marketing purposes. A specialized team of IT remain available for all the times. Every seasonal offers, sales, discounts and special offers are displayed for the interest of customers. A wide range of products remain separately available on stock for e- shopping where the people can order from their home.
Also technology take big role for advertising and to attract more customers. Television, radio, different blogs and sites such as Facebook, Instagram etc. take part for advertising of IKEA.
IKEA FAMILY CARD
IKEA launched a fidelity card called "IKEA family" is a special loyalty program for people who love shopping at IKEA. By becoming a member, you have access to discounted member prices on selected IKEA products as well as information, inspiration and great …show more content…

The current status of the system.

IKEA today is a complex system because it’s open and rely on a vast range of interconnected technologies. Also interact with a large number of internal but and external sub-units too.
Approximately IKEA have 340 stores in 28 countries with generated a global revenue which exceeded 27 billion pounds.
KEA challenges different problems. One big problem in the international environment, it is that furniture’s from Sweden is sold in U.S.A. is higher even though the price of Sweden drop every year. Also the shipping from Europe to other countries like Japan cost a lot, and take 1 to 2 months. By expand their business abroad IKEA has increase competition for international business and also have to learn other country market in order to compete with them. In addition, in Europe where IKEA business is successful.

3. Interactions within and beyond the system.
Interactions beyond the system:
IKEA competitors effect a lot the market of IKEA. For example the prices go down and they effect the range of products. The top IKEA competitors are:
 Wakmart
 Toys Rus

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