'Profit is a wonderful Word'. IKEA's Strategy behind the Profit: IKEA's Strategy behind the Profit

Seminar paper from the year 2005 in the subject Business economics - Miscellaneous, grade: 1,0, University of the West of England, Bristol (Bristol Business School - University of the West of England), course: Strategic Management, 29 entries in the ... Read more

Seminar paper from the year 2005 in the subject Business economics - Miscellaneous, grade: 1,0, University of the West of England, Bristol (Bristol Business School - University of the West of England), course: Strategic Management, 29 entries in the bibliography, language: English, abstract: In the following research essay, the IKEA organization as a cost-leader with a mixed strategic approach will be analysed. For exposing and identifying the strategy it is important to understand background and history. Therefore, a brief overview will be given. Afterwards, the IKEA way of reducing costs will be described to underline potential strategic positions. Furthermore, key strategic issues, facing IKEA as it seeks to generate and sustain competitive advantages will be identified. In order to analyse IKEA's strategic position, theoretical frameworks and concepts will be used. Likewise, these frameworks will be critically evaluated in adaptation to the case. Finally, the IKEA strategy will be categorized and a general strategic approach will be highlighted. Less