COMSATS University Islamabad, Lahore Campus

Course Title: Introduction to Management

Assignment-1

Submitted to: Ms. Hudda Riaz

Submitted by: Esha Ilyas

Registration number: SP20-BCS-143/A

Date: 22/11/2023
 Choose one organization of your choice.

The organization that I have chosen is IKEA, a multinational furniture and home goods retail
company known for its affordable and well-designed products.

Write Introduction (History, Mission, Vision, Product/Service

Portfolio) of the organization.

History:

Ingvar Kamprad started IKEA, which stands for Ingvar Kamprad Elmtaryd Agunnaryd, in
1943. Kamprad, a Swedish entrepreneur, founded the firm when he was 17 years old. The
first concentration was on mail-order sales of pens, wallets, picture frames, and other small
things. IKEA evolved into a furniture shop as the company grew, spurred by Kamprad's
mission of offering inexpensive, well-designed furniture to the public. In 1958, the first IKEA
shop opened in lmhult, Sweden, ushering in the renowned self-service, flat-pack furniture
format. IKEA has risen over the decades to become one of the world's largest and most
recognizable furniture and home goods merchants, with a global presence and a reputation for
its creative approach to design and business.

Mission:

The purpose of IKEA is to improve people's everyday lives. This objective represents a
dedication to providing well-designed, useful, and reasonably priced home furnishings
available to a diverse spectrum of customers. IKEA prioritizes sustainability in both its goods
and operations, striving to reduce environmental effect while also promoting social
responsibility. The firm seeks to provide items that are not only visually beautiful but also
useful and sustainable in order to improve people's lives at home.

Vision:

IKEA's aim is to improve people's everyday lives by providing a diverse selection of well-
designed, functional home furnishings at costs so low that as many people as possible can
afford them. The vision emphasizes the company's dedication to inclusion and affordability,
ensuring that high-quality home furnishings are affordable to a wide range of customers.
Furthermore, IKEA aspires to inspire and empower individuals to arrange their homes in a
way that represents their own style and demands.

Product/Service Portfolio:

IKEA's product line includes a wide variety of home furniture and accessories. The brand is
well-known for its flat-pack, self-assembly furniture, which not only saves money but also
makes shipping and storage easier. Among the key product categories are:

1. Furniture: IKEA has a wide selection of furniture for every area in the house,
including couches, beds, tables, chairs, and storage solutions. The furniture is well-
known for its contemporary style, practicality, and low cost.

2. Home Decor: IKEA sells home decor goods including carpets, curtains, pillows, and
decorative accessories, allowing clients to personalize their living spaces.

3. Kitchen Dining: IKEA sells kitchen cabinets, appliances, cookware, and dining sets,
all of which promote practical and fashionable kitchen solutions.

4. Bedding and Textiles: The organization sells bedding, textiles, and accessories to
improve the comfort and appearance of bedrooms.

5. Lighting: IKEA has a wide range of lighting options, including lamps, pendants, and
LED lights that combine style and energy economy.

6. Children's Products: IKEA creates furniture and accessories for children with an
emphasis on safety, usefulness, and playful aesthetics.

7. Storage Solutions: IKEA is well-known for its creative storage solutions, such as
shelves, cabinets, and organizational tools that assist consumers in making the most of
their available space.

8. Outdoor Furniture: The organization offers outdoor furniture and accessories,

extending its design concepts to outdoor living areas.

IKEA has expanded its product offers to include services such as home delivery, assembly
help, and interior design consultations, which have improved the entire consumer experience.
The firm continues to develop and adapt to evolving consumer requirements while remaining
committed to its purpose of providing well-designed home furnishings affordable to all.
 Why you choose this particular organization for this assignment.

Because of its global renown, innovative business strategy, and diverse approach to
management and design, I chose IKEA for this assignment. The organization provides a rich
and thorough case study for a variety of business and management topics, including
worldwide expansion, supply chain management, marketing, sustainability practices, and
customer-centric initiatives. IKEA is an ideal subject for research and exploration in the
context of this assignment due to its unique history, clear goal and vision, and large product
and service portfolio.