The idea behind writing the case studies is to perform a detailed study of any particular subject or organization. In various universities case studies are taught and given as assignments regularly. For the business management institutes, case studies are part of their curriculum.
The assignment on the IKEA case study and other case studies writing help the student analyze the pros and cons of the organization. The student requires in-depth knowledge of the strategies and other components to evaluate the situation in the organization. The analysis helps in evaluating the problems faced in the organization. There are two basic ways to address the case study assignment; they are problem-solving approaches and analytical approaches. To understand these approaches students need expert assistance.
IKEA is a renowned Swedish company. They are the retailers in the business of readymade furniture, kitchen appliances, home accessories, and others. IKEA is a renowned name as a company that works in an eco-friendly manner. Students often find it difficult to understand the concepts and seek professional IKEA case study assignment help.
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What is the IKEA case study?
IKEA is a renowned retailer of furniture and other bathroom accessories and kitchen appliances. IKEA's business is spread around the world as it provides designer furniture at affordable prices. IKEA was founded by Ingvar Kamprad in 1943 in Sweden when he was just 17 years old. By 2009 IKEA has almost 300 stores around the globe.
IKEA's key operations are the manufacture and design of its furniture, Store management, and goods supply and purchasing functions. Out of 300 stores in 36 countries, 235 stores have INGKA holding and run by them. 30 stores are run by different franchisees. INGKA is the parent company to IKEA.
In the year 2005, a case study has been put on several situations IKEA had faced. It covers the planning and strategies in both the good and bad times of the company. IKEA as an organization always has a very strong ethical base as all the top-level managers are trained by the founder of the company.
IKEA faced very high rivalry in the business as it is extended business in different countries; hence they always follow diverse cultures in the company. The major concern for the company is to maintain a high standard. The two kinds of case study analyses can be performed in two ways SWOT analysis and PESTLE analysis. Few key aspects of the analysis are as follows
Major Issues and problems
As per the case study, the critical issue is confronting maintaining a high standard. IKEA's present managers were trained by the founder himself. The founder has the authority to control INGKA operations and assets. One of the issues is that the management culture gets low in the absence of the owner.
Another issue is the limited increase in the stores as the supply could not be increased as the organization chiefly depends upon the timber. The company has presently taken positive measures for environmental safety.
Opportunity and threat Analysis
Opportunities and threats are external factors. These external factors analyses are used to develop a list of opportunities that can boost the business and pass up the threats. The major threads for IKEA are keeping up with unstable market trends, customer higher expectation, and their product preferences, keeping the right balance between new and old products of IKEA, business expansion, and opening new branches in different countries with diverse cultures.
Internal Analysis
The internal analysis of IKEA includes its core strengths and weaknesses. The pros for its marketing strategies are low prices of the product, innovative ideas for product advertising, hold market segmentation, ideal distribution as per the demand. The major cons for IKEA were competition with local distributors, faux products and less supply, change in consumer Preferences, and many others.
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