BY

SRIKANTH REDDY . M
INDIVAR REDDY. K
HITESH THAKWANI
1920s
HISTORY
At the age of five Ingvar Kamprad started selling matches to his nearby neighbors and
by the time he was seven, he started selling further afield, using his bicycle. He found
that he could buy matches in bulk cheaply in Stockholm and re-sell them individually at
a very low price but still make a good profit. From matches he expanded to selling
flower seeds, greeting cards, Christmas tree decorations, and later pencils and ball-point
pens.

1943
Ingvar Kamprad started this store named IKEA. The name IKEA is formed from the
founder's initials (I.K.) plus the first letters of Elmtaryd (E) and Agunnaryd (A), the farm
and village where he grew up. 

1948
Furniture was introduced into the IKEA range

1951
The first IKEA catalog was published
1960s-1970s

New IKEA stores were opened.It was a time where concept took shape and was
documented in Ingvar Kamprad's The Testament of a Furniture Dealer.

1980s
IKEA expanded dramatically into new markets such as USA, Italy, France and the UK.
More IKEA classics arrived such as KLIPPAN, LACK and MOMENT. IKEA began to take
the form of today's modern IKEA.

1990s
IKEA grew even more. Children's IKEA was introduced and the focus was on home
furnishing solutions to meet the needs of families.

2000s
IKEA expanded into even more markets such as Japan and Russia. Everything for the
bedroom and kitchen is explored and presented in co-ordinated furnishing solutions.
This period also saw the success of several partnerships regarding social and
environmental projects.
 RESPONSIBILITY
Low prices are the cornerstone of the IKEA vision and the business
idea - but not at any price. At the IKEA Group, we believe that
taking responsibility for people and the environment is a
prerequisite for doing good business.

VISION
To create a better everyday life
for the people.

BUSINESS IDEA
To offer 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.
 CORPORATE CULTURE
•Their corporate culture is based on shared values
•Consider all employees as equal
•Employees are given the freedom to voice their opinion
•Innovation and generating ideas are not restricted
•They have a employee friendly environment
 SWEDEN
HOME COUNTRY
PCN
PCN

HCN
HCN

CHINA
UNITED STATES
SUBSIDIARY
SUBSIDIARY

TCN
 SWEDEN BUSINESS ETIQUETTE
•Patriotic
•Meet and greet all equally
•Composed body language
•Punctuality is maintained
•Dress code
•Equal importance to women
•Gifts are entertained
•No protocols for exchanging business cards
 CHINA BUSINESS ETIQUETTE
•Punctuality
•Prior appointments have to be made
•Decision making is slow and systematic
•Team work is important
•Dress code
•Business cards must be exchanged with both the hands
•Gifts are entertained
•Social distance is maintained
•Personal questions are avoided
 U.S BUSINESS ETIQUETTE
•Casual greeting
•Punctuality
•Communication is very fast
•Meetings are casual but taken seriously. They avoid small talks.
•Business cards are ex-changed without a ritual
•Business decisions are taken quickly with logic and linear value.
•Gifts are not generally accepted during business meetings.
 CHINA TO SWEDEN
•Time difference
•Language barrier
•Culture difference
•Improper cuisine
•Chinese are slow in talking and making small sentences
•Chinese take time before they feel comfortable to take business
decisions, while Sweden people get right into business dealings
•Exchange of business cards issues – this is because the Chinese
exchange their business cards with both their hands and also read
it, this is not what is practiced by the Swedish
 U.S TO SWEDEN
•Time difference
•Language barrier
•Culture difference
•Climatic conditions
•U.S associates are used to having casual meetings. They usually
have lunch meetings, breakfast meetings etc. while the Swedish
associates have an organized meeting with agenda
 CHINA TO U.S
•Time difference
•Culture difference
•Climate conditions
•Business meetings are casual in the U.S. while in China the
meetings are well organized
•Communication by the Chinese is comparatively slow
•Business card issues- Chinese associates print their business
cards both in English and in Chinese. They also follow certain
rituals for exchange