IKEA
With its affordable Scandinavian chic, IKEA transformed millions of homes across the world with easy-to assemble flat-pack furniture. It became a furnishing phenomenon over 20 years. And along the way, its reclusive founder, Ingvar Kamprad, became one of the richest men in the world. Privately owned ? " the name was derived from the first letters of four words: Ingvar Kamprad Elmtaryd Agunnaryd. Elmtaryd is the name of the farm on which Ingvar Kamprad was raised and Agunnaryd is the name of the village in which the farm was located" (Altomare and Nattrass 1999, p. 429) the Swedish firm keeps its financials close to its vest, but IKEA has clearly succeeded with its business model of big box stores (some over 40,000 square feet), low prices, a family-friendly shopping environment, clever marketing, and tasteful, simply designed furniture. IKEA's mission statement is "to provide a better everyday life for the majority of people" (Altomare 1999, p. 430) and follows this mission not just in its furniture, but in its environmentally-friendly production and distribution techniques.
The choice of IKEA was as simple as their furniture. As children, we loathed being dragged along to the local furniture store, which was staffed by paranoid employees sure that a child's finger could cause a $1000 couch to collapse. And as we get older and had to move furniture around the house, and to new apartments, most of us wished for bookcases, beds, and other items that were made from sturdy but lightweight materials. IKEA changed the way furniture was shopped for in the US and around the world. The big box stores have immense selections, and feature cafeterias and supervised play areas for children. And the ...