The Strategic Analysis of IKEA’s Global Business Operations

Evaluating IKEA’s Business Strategy and External Environment

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Introduction

IKEA is a multinational Swedish company that specializes in selling home accessories and ready-to-assemble furniture. The company was founded in Sweden in 1943 by Ingvar Kamprad, a 17 year old boy who is currently among the richest people in the world (IKEA 1996p.56). Over the years, the company has been recognized for its modern architectural designs in the various appliances and furniture that they retail. For this and other efforts, the company was ranked the world’s largest furniture retailer in 2008. According to GBS (2004 p.78), the company’s name entails the initials of the founder (Ingvar Kamprad), the farm he was brought up in (Elmtaryd), and his hometown (Agunnaryd) consecutively. As of 2011, the company had established 332 stores in 38 countries and with a total of approximately…