ipl-logo

IKEA: Strategic Management And Change Management In The Contemporary World

5111 Words21 Pages

Introduction
In the contemporary world, the management of strategy and the changes associated with it are among the most fundamental aspects that can ensure the success of a company. This is especially the case where the company involved has operations on a global scale because a strong management strategy is what helps it achieve its aims and objectives. One of the most successful companies in the world of business today as a result of having an effective management strategy is IKEA, the furniture manufacturing company. IKEA was founded in Sweden and has spread its reach to some thirty eight countries and has over three hundred stores worldwide. The ability of this company to not only have a highly effective management strategy has made it possible for its success in every country that it has expanded to. It has become among the most recognisable brands in the contemporary world because it ensures that its services are satisfied while at the same time being sensitive to issues that the rest of society takes seriously. The ability of its management to walk a fine line between ensuring that it makes a profit and also promotes an effective social strategy is one of the reasons why this company has been able to retain its status as a leader in its industry. This paper aims at developing an understanding of how strategic management and change management have been influential in making sure that IKEA achieves its objectives on a global scale and become among the significant

Show More
Related

  • Publix Business Strategy Essay

    868 Words  | 4 Pages

    Strategy means the approach, plan and knowledge that is used to move in the direction that will allow the company to satisfy the customer’s wants and needs, and obtain their goal, while reaching and maintaining an economical benefit over the competition (Defining Your Business Strategy, 2016). It can further be defined as a means of evaluating at what success level they are currently sustaining, and what success level they desire to obtain and the means they will need to use to get to their desired level (Bryson p. 11). A practical understanding of the value that strategy brings to an organization, is the course that the company is to take and the positioning that the company has for the future, and very possibly survival in a very competitive

    Read More

  • Essay On Lowe's

    1235 Words  | 5 Pages

    When developing a plan for how your company will continue to grow in the future one must determine what factors will lead them to be more successful. Lowe’s is an organization that has done very well at planning what their next business move should be to grow the business in ways that show the customers and stakeholders they are working for them. While the way customers shop changes everyday with the external environment factors, industry competitiveness, and resources needed to be successful in its target markets. When the areas of macro-environment are studied by the leadership of the corporation, they must place focus on each area to see how they are influencing the way it is remaining relevant in the business world. A tool that Lowe’s

    Read More

  • Business Strategy Case Study: Under Armour

    795 Words  | 4 Pages

    Under Armour faces a twofold challenge, in the product and market area. Their heritage product category was compression Heat-Gear, and Nike the major competitor, was planning to take control of the new customers generations by creating a whole new line called Nike’s Pro Combat. Besides that, the marketing side was also having struggles. Since Nike created a strategy in which a strong emotional connection with customers was developed. This would have as repercussion the displacement of the Under Armour brand and therefore the slow decline of the company.

    Read More

  • Menards Vs Lowes Company Essay

    676 Words  | 3 Pages

    Lowes Companies, Inc. The Home Depot, Inc. Menard, Inc. Open more stores Open more stores Slowly controlled growth Target women Target DIY Target DIY, customer centric Centralized distribution Increase regional distribution centers Hub-and-spoke distribution system Better store appeal Improve supply chain and merchandizing tools.

    Read More

  • The Strategic Change Cycle

    1852 Words  | 8 Pages

    Abstract The strategic change cycle is one of the processes within strategic planning. This cycle is a ten-step process created to assist organizations in meeting their mandates, satisfying their missions, and constructing public value. “Strategic planning is intended to enhance an organization’s ability to think, act, and learn strategically” (Bryson & Alston, 2011). Introduction Strategic planning is “a deliberate, disciplined effort to produce fundamental decisions and actions that shape and guide what an organization (or other Entity) is, what it does, and why it does it” (Bryson & Alston, 2011).

    Read More

  • Swot Analysis Of Apple Marketing Strategy

    3863 Words  | 16 Pages

    1.0. INTRODUCTION Every organization strives to benefit from creating value for its customers, in the most effective way, for the purpose of attaining competitive advantage in the business environment in which they operate. Philip Kotler(2015) defines marketing as “the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit”. According to Hollensen (2003), a strategy is a fundamental pattern of present and planned objectives…”

    Read More

  • Why Ikea Go International Case Study

    1438 Words  | 6 Pages

    In order to be succeed on international market, it’s very important point to define the international strategy. If to define the international strategy: an international strategy is when a company hires a strategy through which its goods and services are sold out of its local market. Enlarging into international markets allows potential opportunities to companies. Let’s see the IKEA’s international strategy in the following Figure 1. IKEA has expanded from a small, family-owned home furniture corporation into a global retailer within 385 stores in 48 countries, during its 72-year history.

    Read More

  • Case Study Of Holden's Business Strategy

    1404 Words  | 6 Pages

    Authoritative structure 1. Driving Improved business execution through top group adequacy:- Holden is a worldwide producer and wholesaler of engine vehicle, motors, segments and parts. Holden and GM all inclusive, seeing Australia as outline focal point of incredibleness and an imperative springboard into the developing Asian markets. Notwithstanding their Australian market triumphs, Holden understood that to finish on the worldwide sytage they have to move to a higher plane of administration and cooperation. Basically, Holden wished to have a remarkable official group, with amazing individual abilities additionally the instruments to draw in adequately as a group, to acknowledge vital business objectives.

    Read More

  • Primark Case Study

    939 Words  | 4 Pages

    HR Practices of Primark Primark is clothing retailer from Ireland which has operations in Austria, Belgium, France, Germany, Ireland, Portugal, Spain, Netherlands, United Kingdom and soon the United States. The company was founded and has its headquarters in Dublin, Ireland. It has around 51,250 employees worldwide as per the latest estimates. HR Management in the 21st Century: Challenges for the Future Recruitment and development: One of the most important challenges facing global organizations in the 21st century is building the ability to attract, recruit and retain the best talents amidst huge competition with competing organizations. In order to do so the company must create an environment where everybody enjoys working and using their

    Read More

  • The Organizational And Cultural Environment Of Tesco

    986 Words  | 4 Pages

    Superior organizational strategy are generated by the top level management whereas the middle level management and lower level management of the company implements objectives and strategies to accomplish the complete strategy gradually. Based on the mission of the business the organizational strategies are put into words. To carry out this report we have selected a company named TESCO which is a worldwide grocery and universal products dealer founded in the year 1919. Worldwide in terms of profit it is considered as third leading retailer and in terms of revenue it is regarded to be the ninth leading retailer. Tesco has expand geographically from the time early 1990’s and into sections like electronics, furniture, and internet services etc.

    Read More

  • Business Strategy Case Study: Lululemon Athletica

    1008 Words  | 5 Pages

    In the startup phase of Lululemon Athletica they had a high bargaining power. This was due to a desire to work with leading fabric suppliers and increased investments. A majority of their apparel production was in Asia however they are willing to use Canada as well as the United States for production facilities as they are required. There are many suppliers competing for retailer’s business. Common materials used in apparel making such as rubber and cotton are readily available.

    Read More

  • The Advantages And Disadvantages Of Ikea's International Strategy

    1026 Words  | 5 Pages

    Global strategy is an international strategy that implements by a company which they doing their business in different countries. Internationalization is a process for IKEA expand its business and it was quite important because through the internationalization process, IKEA was able to gain a broader area of marketplace to sales their products, which will lead to profit and revenue increased and new market places existed mean new opportunity for IKEA to improve their product in order to meet the customers’ needs. The first reason that IKEA should go to international level is because the Swedish market is small and no enough for IKEA to expand itself. This is important for IKEA because the small market mean low opportunity, lower profit and

    Read More

  • Strategic Management: Strategies, Deliberate Or Emergent

    3600 Words  | 15 Pages

    ARAB OPEN UNIVERSITY FACULTY OF BUSINESS STUDIES (MBA) B 820 _ STRATEGY (TMA ONE)_ TUTOR MARKING ASSESSMENT _ Fall, 2014 TMA ONE: Answer Bader Abdullah AL-Sumri (130348) Question 1: strategies, deliberate or emergent 1) Introduction Planning, and particularly strategic planning, has been characterized as a learning process.

    Read More

  • The Importance Of Organizational Strategy

    995 Words  | 4 Pages

    “An organizational strategy is the sum of the actions a company intends to take to achieve long-term goals (Johnson, 2016)”. Organizational strategy is derived from a company 's mission, which tells why an organisation is in business. There are three important aspects of organizational strategy such as resources, scope and the company’s core competency (Johnson, 2016). As Johnson (2016) postulated that top management produces the larger organizational strategy, while middle and lower management adopt goals and plans to satisfy the overall strategy. Germano (2010) states that leadership has a significant impact upon organisation and its success, whereby leaders determine values, culture and employee motivation.

    Read More

  • Pestle Analysis In Latin America

    2329 Words  | 10 Pages

    IKEA uses franchises in order to reach other markets in which it does not have stores yet to take advance of the local knowledge and expand their brand. The company must also decide based on the market what is the best strategy in order to reach the customer and not just the strategy that will help it enter the country. The author Cunningham (1986) identified five strategies in order to enter a new market: • Technical innovation strategy – for products which are perceived and demonstrable superior as seen by the customer. • Product adaptation

    Read More

More about IKEA: Strategic Management And Change Management In The Contemporary World

Open Document