Ikea Swot Essay

SWOT stands for strengths, weak points, opportunities, and threats linked to a business in fact it is one of the most powerful strategic deductive tools with regards to business examination (Baker and Hart, 2007). Strengths and weaknesses are considered to be inside factors influencing the business, although opportunities and threats are external elements.

IKEAs strong points include management position inside the global market place and strong brand identification, effective online marketing strategy of the company, as well as the financial maturity. Moreover, the company offers its products for very competitive rates and this strategy provides good competitive benefits for the company.

The key weaknesses linked to IKEA mainly relate to its global size which makes it challenging to implement its business technique to vastly differentiated local market conditions. As well, the monetary performance of IKEA is greatly prone to the changes of costs of recycleables due to the organization strategy of low profit margin for each individual item.

IKEA has opportunities to get increasing revenues and achieving long term growth. These kinds of opportunities contain increasing the focus on employing recycled materials, engaging in even more market enlargement and entering Indian, Central Asian and Eastern Western european markets and increasing the organization product runs to include even more variety of technology products.

At the same time, IKEA administration have to treat a range of threats the organization is facing. For instance, because of the changes in interpersonal trends buyers may choose buying pieces of furniture associated with high class in culture. Moreover, the manufacturer image may possibly suffer a few damages as a result of poor operating conditions in IKEA company companies in developing countries revealed by the media. Likewise, the fears of some economists regarding another economic crisis in US soon may end up being right which may result economic losses intended for IKEA.



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