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| Topic: |
Business
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| Number of pages / Number of words: |
5 / 1121 |
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Appendix 1.
Profit Model
Ikea's strategic capabilities can be summarised using the PROFIT and VIRO frameworks as below
Physical Resources
The size, location, technical sophistication and flexibility of plant and equipment
? Large retail outlets located in the suburbs and cities, in America
? Company established in 1943 ? demonstrating longevity and ability to survive
? 14 th Largest retailer with "monster stores" (page 9)
? Modern facilities including childcare and cafe's
? Unique store layout
The location and alternative uses for land and equipment
? Alternate uses available for retail facilities ? generally a retailer has large showroom facilities which could later on be used for other purposes...
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quality product
? Iconic modern "flat pack" systems
? Large number of products
Trade marks, patents, licenses, copyright
? Patents rarely held for any product, due to style and fashion changes
? Duplication is possible for some product
Organisational Resources
The knowledge and skills of employees
? Strategy is to employ young talented managers with an ability to thrive in an open-market global economy
? Fewer than normal "sales executives
The organisations reporting structure, coordinating and control mechanisms
? Functional organisational structure-
Finance / Production / Commercial / Technology / Human Resources"
? Unique "product design and development"
The flexibility of the organisation to respond to change
? survival to this point would indicate an ability to adapt to a changing environment
? Entry of foreign competitors entering the market
? From 2003 focus on improved efficiency- 50 stores by 2003
Financial Resources
Capital, cash, debtors and creditors
? Liquidity would be strong with a good level of working capital- due to a predominantly cash nature of business
? Normally based on high volumes and low margin
? Strong balance sheet- generally creditors tend to fund or finance the debtors and inventory, and ultimately the cash flow
The capacity to attract funds for investment
? Iconic company trading profitably with a strong balance sheet should attract investment funds internationally
The internal funds generation
? Based on industry statistics a strong cash-flow would be evident
Intellectual Resources
The knowledge captured in patents, brands, business systems, customer databases and relationships with partners such as suppliers, banks etc
? IKEA and the product presentation together with the flat pack concept- is a different way to doing business in America
The training, experience, judgement and intelligence of individuals within the organisation
? by virtue of their survival to date, there must be a level of competence within the senior management of the company, although not much individual detail is provided in the case study
? looking to bring in modern r forward thinking managers, generally broad minded persons who's not "boring"
Technological Resources
The capacity of the organisation to exploit new technologies
? recent growth in sales would indicate an acknowledgement of the need to employ newer technologies, and this may be partly responsible for the increased success
The stock of technology inherent in the organisations functioning and performance
? modern and well maintained retail store is essential to compete with global organisations
? constant modernization of their retail outlet will be required
? provides the ability to meet changing production demands
Resources for innovation such as research facilities, innovative environment for employees etc
? 50 stores buy 2013
Appendix 2...
Essay fragment
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