Final Project One Milestone Two: Profile of a Successful Company

Profile of a Successful Company
Student Name
Institution
Profile of a Successful Company
Mission and Vision
IKEA’s mission statement declares that they build something better every day to reach many people. The business values and idea lives up to this vision because they provide a vast array of well-designed, efficient home furnishing products that come at affordable prices. This ensures that these products can meet as many people as possible (IKEA, 2014).
IKEA’s vision talks of a community of professionals focusing on creating the required skills essential to building a better life daily for all the people accessing their products. The company declares that they have the capability to design and develop top-notch products that benefit everyone. IKEA has a passion for the development or growth of the life at home with unique new products (IKEA, 2014).
IKEA’s mission and vision reflect their marketing, products, and community programs. This is because they have a whole range of home products including food, decoration, dining, laundry, textiles, and children’s amenities among others. They have all sorts of home appliances and needs that any home would require. Their vision statement of ensuring that all their customers find whatever they desire is a reality in IKEA. Their unique customer service that operates 24 hours ensures that consumers can reach them and get assistance at any time and location. The company offers its products at fair prices that each family feels content to seek their products. Further, their products are inclusive making them attractive to all people despite their sex, age, or even race because of their consideration of fundamental human needs. In this way, it becomes clear that IKEA’s mission and vision statements helped their overall success because the company grows each day and customers are loyal to their brand. It is evident that caring about what customers desire goes a long way in securing their trust in the company’s brand (IKEA, 2014).
Strategic and Management Plan
The strategic management plan of IKEA is organized into four categories because of the worldwide spread of the company. Managers have to control and direct- products range and development, purchasing, distribution services and retailing as separate entities. Despite being treated separately, the IKEA stores all encompass the same concepts of strategic management ADDIN CSL_CITATION { "citationItems" : [ { "id" : "ITEM-1", "itemData" : { "DOI" : "10.2139/ssrn.1135570", "ISSN" : "1556-5068", "abstract" : "This paper focus on IKEA's efforts to meet the challenges of globalization with diversity management. We will discuss the managerial and theoretical implications in order to understand the effects of utilizing diversity management as means for keeping the core corporate culture key values alive when the organization becomes larger and more diverse.", "author" : [ { "dropping-particle" : "", "family" : "Korsgaard", "given" : "Steffen", "non-dropping-particle" : "", "parse-names" : false, "suffix" : "" }, { "dropping-particle" : "", "family" : "Rask", "given" : "Morten", "non-dropping-particle" : "", "parse-names" : false, "suffix" : "" }, { "dropping-part...