IKEA - Case Study Soln
IKEA - Case Study Soln
IKEA - Case Study Soln
Q3) Analyze ways in which IKEA has managed to minimize Threats to its
business.
-IKEA tries to manage, how to minimize the threats of its business. If it manages to minimize threats, it helps, it helps IKEA to create a positive outcome.
1)Social Trends-IKEA is developing a online guide to its customers so that it will help customers to live a sustainable life. It provides ideas, tips and suggestions to its customers on their
website which helps to reduce their impact on the environment. This will also help them to save money. They are hiring just the staff who are trained on sustainability.
2) Market Forces-IKEA is large enough to enjoy economies of scale. Many competitors are entering in the market with low price households and furnishings. They must try to use
technologies or employing specialized managers. Economies of scale also give a business a competitive edge if cost savings are then passed on the customers in the form of lower prices.