Watch the IKEA video on YouTubeThe IKEA Group: The Story of How We Work. https://www.youtube.com/watch?v=1jn2_nZrivQ
1) Re-read Chapter 6, Strategic Management. Review and comprehend the sections on SWOT analysis, BCG Matrix, and Porters four competitive strategies. Youll need to apply these three concepts to the IKEA case analysis assignment.
Complete the following in a Word Document. Please include paragraph sectional headings:
2) In your own words, briefly describe the type of business of IKEA.
Have you ever shopped at IKEA? If so, describe your experience shopping there. If you have not ever shopped at IKEA, go online and view/browse the store or visit the store, if you are in the Memphis area. IKEA website Describe your experience from shopping online or in person.
3) In your own words, describe each component of a SWOT analysis (what does each letter stand for? Explain and describe each of the S.W.O.T.)
4) Expand on the strengths of IKEA mentioned in the case analysis: List the cases strengths for IKEA. Do you agree that those are the strengths of IKEA? Explain your answer thoroughly. Think of one other strength not mentioned in the case analysis that you believe is a strength of IKEA. If you have used an outside source, please in-text cite and list this source.
5) What are the weaknesses of IKEA that were mentioned in the case analysis? List these weaknesses. Do you agree that those are the weaknesses of IKEA? Explain your answer thoroughly. Think of one other weakness not mentioned in the case analysis that you believe is a weakness of IKEA. If you have used an outside source, please in-text cite and list this source.
6) In your own opinion, will IKEA continue to be a successful company five years from now? Explain why or why not? Use an outside source to help support your answer. Be clear on which is your opinion versus what industry experts predict (source needed).
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