Peculiarities of IKEA management in the world and in Ukraine

Yuzyk, Mariia

University of Warsaw, Szturmowa 1/3, 02-678 Warszawa, Poland

Yuzyk, M. (2021) Peculiarities of IKEA management in the world and in Ukraine [Socio-Economic Problems and the State] (electronic journal), Vol. 25, no. 2, pp. 89-97. Available at: http://sepd.tntu.edu.ua/images/stories/pdf/2021/21ymaaiu.pdf

Scientific Journal "Socio-Economic Problems and the State"

2(25)

Nov-2021

Oct-2021

22-Jul-2022

Ternopil Ivan Puluj National Technical University

UA

Ternopil

https://doi.org/10.33108/sepd2022.02.089

005.93:684(4/9)

F230

management
IKEA
opportunities
trends
development
pandemia

9

89-97

89

97

It is now important for international companies to be able to understand the needs and desires of consumers in the domestic markets in which they operate. In order for a company to be able to compete, it must implement its international strategy on the local spectrum. This article is used to demonstrate how the globally successful company IKEA features of management in the world and its entering the Ukrainian market. First of all, we identified the important elements that caused the development of international trade and main obstacles, which affected global competition of every company in international business where Ikea is not an exception. As there is not clear position of Ikea mission, we tried to define the mission of IKEA has included the following components: different products, available prices, exceeding expectations. Then created an analysis of the design, formation and further successful steps of that company. Focus on the SWOT analysis of the Ikea itself, and also on its analysis in relation to the issue - the Ukrainian market gives us great understanding of strengths(affordability, design, brand reputation, wide range of products), weaknesses(the media, quality, location), opportunities(emerging markets, online store, sustainability) and threats(competition, imitation, quality preference) for better functioning Ikea business strategies in the world and in Ukraine. The competitive advantage is the technology creating stylish products through decades which differents from others and can be recognizable. Ukraine is an important market to expand as Ukrainians are looking for low prices, well-designed and functional household equipment especially with possibility of online store because of influence of current situation with pandemia COVID-19 was also the cause of this phenomenon.

http://elartu.tntu.edu.ua/handle/lib/38578

2223-3822

Scientific Journal "Socio-Economic Problems and the State"

http://sepd.tntu.edu.ua/images/stories/pdf/2021/21ymaaiu.pdf
www.businessinsider.com/ikea-first-store-history-in-sweden-in-1958-2019-9#ikea-finally-came-to-the-us-in-1985-with-the-opening-of-its-first-store-on-june-12-in-philadelphia-17)
https://www.inter.ikea.com/en/performance/fy20-financial-results?fbclid=IwAR265XziUxqUwBLLHHzraY9iEcnIgjqAEw94m8XKWdggsnLUbk8oOs8YVY
https://about.ikea.com/
https://www.ikea.com/ua/uk/
https://pestleanalysis.com/swot-analysis-of-ikea/
https://doi.org/10.2478/rpp-2019-0008.

1. Businessinsider.com. Available at: www.businessinsider.com/ikea-first-store-history-in-sweden-in-1958-2019-9#ikea-finally-came-to-the-us-in-1985-with-the-opening-of-its-first-store-on-june-12-in-philadelphia-17) Access on 19 October 2021.
2. FY 20 financial results. https://www.inter.ikea.com/en/performance/fy20-financial-results?fbclid=IwAR265XziUxqUwBLLHHzraY9iEcnIgjqAEw94m8XKWdggsnLUbk8oOs8YVY. Access on 16 October 2021.
3. Ikea. Available at: https://about.ikea.com/. Access on 18 October 2021.
4. Ikea in Ukraine. Available at: https://www.ikea.com/ua/uk/. Access on 16 October 2021.
5. Marynenko N., Fedyshyn I, Garmatiy N. & Kramar I. (2019). Financing innovation activity in Ukraine: realities and perspectives. Economic Review – Journal of Economics and Business, Vol. XVII, Issue 1, p. 33-46.
6. Skorek M., Dziewanowska K., & Kacprzak A. (2014). «Shopping - compulsion or pleasure? : analysis of modern consumers' motivations in the light of qualitative research». Problemy Zarządzania, Finansów i Marketingu 36, p.171-179.
7. SWOT Analysis of IKEA: What’s the Brand’s True Strength? Available at: https://pestleanalysis.com/swot-analysis-of-ikea/. Accesses 16 October 2021.
8. Yuzyk O., Mazaikina I., Bilanych H., Yuzyk M. (2019). Quality of higher education in Ukraine and Poland:comparative aspects // Comparative professional pedagogy. Volume 99. Issued 1, p. 66-75.DOI: https://doi.org/10.2478/rpp-2019-0008.

Article

Scientific Journal "Socio-Economic Problems and the State", Vol.25, No.2