Ikea Mission Statement Analysis

Benefits of mission statement to an organization

For any business organization it is very important to set a common goal among the concerned ones to improve the performance, define the company's existence, to put forth the strategy plan to set the tone of the organization to achieve the desired aim. Mission statement is the foundation of the business plan and visible guidelines to the employees that motivates them and guides them to the company's intended goal. It is generally a written declaration of the goals an organization hopes to accomplish and also a brief clarification of why the objectives were established. It is like the mirror image of an organization which gives a instant view of the company's ground of establishment, its philosophical

Our business idea supports this vision by offering a wide range of well-designed, functional home furnishing products at prices so low that as many people as possible will be able to afford them.”.Ikea was established by a Swedish entrepreneur named Ingvar Kamprad in 1943. It is world's largest retailer of furniture and household items that sells unassembled furniture, kitchen wares, bathroom items etc from their stores worldwide. When Evaluating its mission statement we can say that IKEA gives more emphasis to its costumers and its service. Its mission statement is costumer oriented which tends to state that the satisfaction of their costumer is their main motto. First of all Ikea gives a clear view of what its market area is and who its targeted costumers are. It gives wider range of choices to its costumers in choosing furniture yet it offers them in a reasonable price so that it could cover a vast group of people as its costumers. With its costumer based service and its strategy of selling quality furniture in relatively cheaper price it was able to generate a global revenue of about 29 billion Euros in the year