Proposed Plan for Future Development for IKEA Coursework - 1

Proposed Plan for Future Development for IKEA - Coursework Example Environmental sensitiveness of the company is well recognized by consumers. The other companies that specialize in Nordic furniture design the in the US, whose prices are comparatively very high are Design Within Reach, Minimalista, Boconcept and Tema. But, the strategy of IKEA is to target middle-class families on a global level with a variety of designs, quality and price. Companies like Sears, JC-Penny, Flanigan and Raymour are competitors to IKEA in the USA. Competitors in Europe include companies like John Lewis, Argos, B&Q and TESCO. Apart from furniture, the extensive range of products of IKEA includes lighting, textiles & rugs, Kitchenware, flooring, storage furniture, beds and mattresses tools and hardware. The IKEA Concept is based on offering a wide range of well designed, functional home furnishing products at prices so low that as many people as possible will be able to afford them as mentioned in the website of Inter IKEA Systems B.V. The IKEA Concept guides the way IKEA products are designed, manufactured, transported, sold and assembled. 2 IKEA's business strategy hinges on sustainability and environmental design. The sustainability programs of IKEA envisage social, environmental and economic issues. Strengths and weaknesses of a company are mostly related to internal aspects. The internal environment of IKEA in terms of competitive advantage, market position and financial resources, is by and large conducive for a sustainable growth. The competitive advantage of a company arises out of several factors and the business plan which is very difficult to duplicate and the absence alternate products available cheaply enable IKEA to exploit the opportunities effectively and overcome the external threats. IKEA has established a name for itself with designs, quality and competitive pricing in the markets world over.