Business Assignment: IKEA by Matt Jennings
Background:
IKEA is a private global corporation that specialises in home products including flat pack furniture, kitchen and bathroom items, and accessories. The first full IKEA store opened in Almhult in 1958. As of 2011, IKEA owned and operated 332 stores in 38 nations.
Features of operations management:
The whole purpose of operations management is to ‘design, produce and deliver products and services that satisfy market requirements’ 1. An operations manager from IKEA would be involved in:
• Design of stores to ensure effective flow of customers
• Designing products that attract customers but are still able to be flat-packed efficiently
• Ensuring that all staff contribute to the company’s success …show more content…
Operations incorporate the manufacturing of products, provision of services and value adding methods. Operations refer more specifically to the processes involved in turning raw materials and resources into finished goods and products. Marketing incorporates sales and advertising, product design and marketing strategies. Marketing is about meeting the needs and wants of consumers. It looks at all aspects of buying and selling, including the thought process that consumers go through when thinking about purchases. Finance incorporates administration, financial management, financial management and management of change. All 3 of these business functions work separately but together they produce …show more content…
Operational strategies can be used to achieve the Key Performance Indicators. They include the following:
Performance Objectives
Quality: IKEA ensures that they have a quality design through market research to find out customer preferences. IKEA produces their own particleboard to unsure that they are starting of the production process with the best raw materials.
Flexibility: As a business it is important to be able to quickly adapt to changes in the market. IKEA achieves this through changing the colours of existing products to meet the changing preferences of consumers.
Cost: IKEA minimises there expenses in the operations processes by producing flat packs which save on the cost of labour and transportation. Due to the flat pack design of IKEA’s products it saves on space in their warehouse which inturn save them money by allowing more products to be stored in the same area.
New Product or Service Design and
Background:
IKEA is a private global corporation that specialises in home products including flat pack furniture, kitchen and bathroom items, and accessories. The first full IKEA store opened in Almhult in 1958. As of 2011, IKEA owned and operated 332 stores in 38 nations.
Features of operations management:
The whole purpose of operations management is to ‘design, produce and deliver products and services that satisfy market requirements’ 1. An operations manager from IKEA would be involved in:
• Design of stores to ensure effective flow of customers
• Designing products that attract customers but are still able to be flat-packed efficiently
• Ensuring that all staff contribute to the company’s success …show more content…
Operations incorporate the manufacturing of products, provision of services and value adding methods. Operations refer more specifically to the processes involved in turning raw materials and resources into finished goods and products. Marketing incorporates sales and advertising, product design and marketing strategies. Marketing is about meeting the needs and wants of consumers. It looks at all aspects of buying and selling, including the thought process that consumers go through when thinking about purchases. Finance incorporates administration, financial management, financial management and management of change. All 3 of these business functions work separately but together they produce …show more content…
Operational strategies can be used to achieve the Key Performance Indicators. They include the following:
Performance Objectives
Quality: IKEA ensures that they have a quality design through market research to find out customer preferences. IKEA produces their own particleboard to unsure that they are starting of the production process with the best raw materials.
Flexibility: As a business it is important to be able to quickly adapt to changes in the market. IKEA achieves this through changing the colours of existing products to meet the changing preferences of consumers.
Cost: IKEA minimises there expenses in the operations processes by producing flat packs which save on the cost of labour and transportation. Due to the flat pack design of IKEA’s products it saves on space in their warehouse which inturn save them money by allowing more products to be stored in the same area.
New Product or Service Design and