Vision, Values and Mission in Driving Strategy
An IKEA case study

Page 1: Introduction

The familiar blue and yellow colours of the IKEA logo (also the colour of the Swedish flag) can be seen on stores in 18 retail parks located throughout the UK. Founded in 1943 by Ingvar Kamprad in the farmlands of Småland Sweden, the IKEA name combines his initials (IK) with the first letters from the names of the farm and village where he grew up - Elmtarydand Agunnaryd (EA). From these...
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Page 2: Vision

A vision for companies, like IKEA, outlines what the business wants to achieve. A vision is an aspirational and inspirational view of where a business wants to be, it helps to position the business and provides a focussed direction for the future. The IKEA vision is the foundation for its growth strategy. “We want to make sure that IKEA is accessible, so that more people can create a...
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Page 3: Values

Having a vision and mission statement are important, but a business also needs a set of values. Values are the beliefs and guiding principles that influence the activities of the business and how it operates. IKEA’s values guide all its activities and are based on the belief that every individual has something valuable to offer. These values help to set the culture within the company...
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Page 4: Mission

A company’s mission builds on its vision and values by setting out how it intends to implement the vision in the long term. IKEA’s mission focuses on sustainable long term growth by investing in the future which benefits its employees, customers and suppliers. IKEA invests the majority of its profits back into the business, into existing and new stores, product development, sustainable...
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Page 5: Strategy

Strategy is a plan that turns the vision and mission of a company, underpinned by its values, into a set of actions that gives a business a competitive advantage in the market. IKEA’s strategy has always been to design and develop products based on consumers’ everyday needs, keeping prices low and providing functional, attractive and reliable furnishings and solutions. Sustainability...
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Page 6: Conclusion

IKEA is a long established company which has maintained the IKEA Concept from its original foundations. The IKEA Concept exists in every part of the company, from design, sourcing, packing and distributing through to the IKEA business model. This case study has shown how IKEA’s vison and mission and its strong values both contribute and drive the development of its sustainable strategy...
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