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IKEA BUSINESS IMPLEMENTATION BY COURSE The purpose of the present paper is to identify the problems involved in the successful implementation of IKEA in United Arab Emirates (UAE) by determining its current competitors and defining its strategic competitive advantage as well as identifying steps involved in the value chain that will be the key to the success of IKEA…
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Download file to see previous pages It took him only twelve years to develop his model. He put the final touches on it in 1965 when he opened a large store in suburban Stockholm that resembles today’s stores worldwide. Today, IKEA’s success can be summed up by saying it “provides a one-stop sanctuary for coolness” (BusinessWeek 2005). In order to acquire the market share and to be labeled as one of the leading businesses in the world, IKEA has its control over the channels of production and distribution (BusinessWeek 2005). Due to the significance of marketing channels for market acceptance and profitability, developing a formal planning process for formulating and choosing channels is vital (Stern & El-Ansary 1982, p. 222). Much of this control is spelled out in its code of conduct that it calls “The IKEA Way on Purchasing Home Furnishing Products” (IKEA 2010). This code was launched in 2000 (IKEA 2010). It indicates what suppliers should look forward to from IKEA and suggests what IKEA should expect from its suppliers (IKEA 2010). It not only spells out its expectations in terms of legal requirements, working conditions, external environment, and forestry management, but also puts a great deal of emphasis on the active prevention of child labor (IKEA 2010). These policies and guidelines will be utilized when implementing IKEA business in the UAE. As previously mentioned, IKEA’s biggest competitive advantage over other home stores is its low prices. The low prices are the single element that drives IKEA’s cost reduction strategy. This strategy provides the company with its greatest opportunity but also its greatest challenge. The firm is passionate with cutting costs and transferring the savings to the customer. This cost cutting governs the process of design. Therefore, unless a design can be made affordable, it will not end up in IKEA’s showrooms or catalogues no matter how otherwise marketable the item might be. This concept will help in the development of trust in the minds of the potential customers of the UAE market. Thus, to achieve its objective of making its designs affordable, the company hires 12 full-time designers at its Almhult, Sweden, facility plus 80 free-lancers (BusinessWeek 2005). IKEA has given itself another competitive advantage by producing and distributing an enormous number of quality catalogues. It prints and distributes more catalogues each year than the world produces Bibles (Roth 2002). The IKEA catalogues are also accessible to the customers online on the company’s official website (IKEA 2010). These catalogues are not just books full of furniture; rather they have been described as a “major cultural indicator of our times” (Roth 2002). Although the catalogues only include less than half of the company’s wide ranging products, every copy is sort of a script that illustrates the role of each individual in the company (Normann & Ramirez 1993). Thus, the company’s catalogues will also help in attracting potential customers from the UAE market. Although, IKEA is very closed-mouthed about its earnings, one can make an educated guess that its pre-tax profits are at least two billion dollars a year (BusinessWeek 2005). This clearly shows that it is a tremendously successful company and that it has the wherewithal to deal with competitors. If it wishes, it can ...Download file to see next pagesRead More
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