Overview of strategic management: a critical analysis and personal interpretation [case study: IKEA]
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Authors
Afolabi, Babatunde A.
Issue Date
2010
Type
Capstone
Language
en
Keywords
Business administration
Alternative Title
Abstract
In the long run, IKEA will need to focus on measuring tangible benefits of the changes it undertakes. Intangible benefits will affect its employees, clients, suppliers, and product line. The environmental initiative should receive an incredible response from employees and support from management because employees are naturally motivated to work for a company with commitment for the environment. Consumers, in all markets, will benefit from IKEA's adherence to environmental standards, notwithstanding the regulations in that market. Relationships with suppliers will be stronger since IKEA will work closely with suppliers to enable them to modify their production processes in order to meet new product specifications. Such modifications will ultimately result in production efficiencies as well as reduction in total product costs.