Corporate Strategy and Governance : Doc
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CorporateStrategy andGovernance
Table of ContentsTitle: “A Critical analysis of revenues loss in 2011 due to numerous customer complains”. AStudy on IKEA. ..............................................................................................................................3CHAPTER 1: INTRODUCTION...................................................................................................31.1 Overview and background of the research...........................................................................31.2 Overview and background of the organisation....................................................................31.3 Rationale of the research......................................................................................................31.4 Research Aim, objectives and questions..............................................................................41.5 Structure of report................................................................................................................4CHAPTER 2: LITERATURE REVIEW ......................................................................................62.1 Issues behind numerous customer complaints in IKEA......................................................62.2 Importance of focussing on customer services as a competitive advantage........................72.3 Impact of issue on revenues and profitability of IKEA.......................................................8Chapter 3: RESEARCH METHODOLOGY ...............................................................................103.1 Research approach.............................................................................................................103.2 Research Design.................................................................................................................103.3 Research philosophy..........................................................................................................103.4 Data collection...................................................................................................................113.5 Sampling............................................................................................................................113.6 Ethical consideration..........................................................................................................11CHAPTER 4 : CRITICAL REVIEW OF RESULTS ..................................................................144.1 Critical review on the basis of secondary research............................................................144.2 Critical review on the basis of primary research................................................................15CHAPTER 5 : RECOMMENDATION AND ACTION PLAN...................................................225.1 Recommendation................................................................................................................225.2 Action Plan.........................................................................................................................22CONCLUSION.............................................................................................................................25REFERENCES ............................................................................................................................26
Title:“A Critical analysis of revenues loss in 2011 due to numerous customer complains”.A Study on IKEA. CHAPTER 1: INTRODUCTION1.1 Overview and background of the researchCorporate governance has become a buzz word in the corporate world. All types oforganisation and business owners applying the concept of corporate governance in order to meetout the customer needs and ethical environment within workplace. This process involves theproper structure or procedure designed for roles and authorities. Corporate strategy plays animportant role in an organisation to gain sustainability and managing business. Therefore, it isessential for each and every company to formulate corporate strategy as it determines the scopeof a operational activities and the manner in which a processes support the goals as well. 1.2 Overview and background of the organisationPresent research will be based on corporate governance for which study will be takingIKEA which is the furniture retailer company that spread at wider level. It is a private limitedcorporation that was founded in 1943 by Ingvar Kamprad. The headquarters of this retailer islocated in Leiden, Netherlands. The present revenue of this organisation is $40.906 billion.There are 194,000 employees are working for proving effective services to customers. The focusof firm is one managing innovation in wood according to customer expectation andrequirements (Amran, Lee and Devi, 2014). As a company cannot run without contribution ofstakeholders, therefore, it is essential to take their participation for developing corporatestrategies. In this regard, these stakeholders concerns more on developing fresh and newfurniture designs to transform lives of buyers. The vision of the company is to create a life betterfor many people by offering innovative and well-designed furniture and home appliances at lowprice which become easy for all people can afford it. The mission of the company is tomaximise the level of stakeholders and communicate the objectives and goals of company tothem.1.3 Rationale of the researchPresent study based on to issues behind increasing complaints of customers under IKEA.Due to this issue, it has faced various problems related to generate revenues and gain
sustainability at marketplace. For this purpose, an analysis on customer services to gaincompetitive advantage id done, which might be helpful to get over from the corporate issues(Filatotchev and Stahl, 2015). The main purpose of this present study is to evaluate the solutionto keep customer focused on the product or services of IKEA. The reason for taking this issuefurther, it helps to take the long-term goals and make it more effective and influencing.Customer service is very significant issue for the IKEA which is important to be reduced inappropriate manner. Overall, it helps to take the new managing successful business growth.Overall, company needs to take some strict action to get over from this issue as soon as possible.1.4 Research Aim, objectives and questionsIt is considered as most important part of research which defines aims and objectives tocarry out entire investigation. By formulating the same in appropriate manner, a company gainopportunity to make improvement in its services and gain high profitability in business. In thisregard, for minimising the rate of customer complaints under IKEA, aims and objectives aregiven as beneath:- Aims:“A Critical analysis of revenues loss in 2011 due to numerous customer complains”. AStudy on IKEA.Objectives To identify the issues behind numerous customer complaints in IKEATo determine the importance of focussing on customer services as a competitiveadvantage.To identify the impact of issue on revenues and profitability of IKEAResearch questionsWhat are the issues behind numerous customer complaints in IKEA?What is the importance of focussing on customer services as competitive advantage?What is the impact of issue on revenues and profitability of IKEA? 1.5 Structure of reportThis is being considered as one of crucial section of a research which shows blueprintthat consist with every single activity which researcher is going to do in order to conduct theinvestigation. In present report, where the issue on which whole research will rely i.e. customerservice that has been very significant issue for IKEA, is going to carry 5 different chapters andthese are comprehended beneath:
CHAPTER 1 : INTRODUCTION – This section of the research report prepares thebase of overall investigation because, it basically stays enclosed with the aim and objectives onthe chosen topic. Apart from this, introduction can be defined as an overview or background ofresearch that basically delivers right information related to the topic which helps in improvingunderstanding of the topic. Including this, it may also carry significance of research as well.Thus, this section includes objectives, aim and background of the topic and shows that why theresearch is going to get conducted. CHAPTER 2 : LITERATURE REVIEW – This section of the research is going tofocus on a range of research questions that has been developed by investigator (Khan, Muttakinand Siddiqui, 2013). Basically, this section stays enclosed with answers of selected questionsand here researcher takes help of articles, scholar books, journals and other online sources.Away with this, section includes different theoretical aspects which would aid investigator inimproving knowledge related to the topic and here customer service given by IKEA will be thebase of questions.CHAPTER 3 : RESEARCH METHODOLOGY – This chapter is going to beenclosed with a method that could basically help in conducting overall investigation, Along withthis, section also stays enclosed with different data collection and the techniques as well ofoverall investigation. Overall primary and secondary are the two different data collectingmethods and are going to be enclosed with respondents as well.CHAPTER 4 : CRITICAL REVIEW OF RESULTS – Overall results which has beencarried out by the investigator, this section will analyse them with the help of an analysis data.This would basically consist of questionnaire methods, objectives developed in the researchreport are reviewed in order to identify all the results which can conclude the research objectivesand results.CHAPTER 5 : RECOMMENDATION AND ACTION PLAN – In this segment ofresearch, recommendations for the proposed research are developed. A number of advises thathas been given for a company i.e. IKEA, so that it could basically improve strategies linked withCG. This sub sector of research is going to rely on a proper action plan. All the activitiesbasically going to get recorded under present investigation's action plan.
CHAPTER 2: LITERATURE REVIEWLiterature review is a summary of previous research on any topic. It is a review of articleregarding the current knowledge and it also includes theoretical and methodological finding onthe topic on which it is being written. An area is determined and selected and report is preparedon the same (Fernando, 2012). The Best articles and journals are used to make a review on thetopic on which research is being made. All the key findings and important things are highlightedin Literature review so that major highlights can be find out. Thus, Literature review makes iteasy to understand the topic in detail and find out the key areas of the entire research so thatfurther research can be conducted easily and effectively.2.1 Issues behind numerous customer complaints in IKEAAccording to Adnan Miski, it has been analysed that IKEA which deals in internationalfurnishing industry, mainly concerns on creating a better life for people at affordable price rates.It offers a wide range of ready to assemble furniture at international marketplace to attract andcustomers towards it business. This company is also known for modernist designs of furnitureand interior theme of stores also based on eco-friendly simplicity. But as per reported in 2011,IKEA in one of its international branch has faces issues related to high revenue loss (ImprovingCustomer Service at IKEA using Six Sigma Methodology,2014). This issue is mainly associatedwith sales which seems to decline because of ineffective customer service. The main reasonbehind this substantial loss is attributed due to numerous complaints. With this assistance, it hasbeen analysed that dissatisfaction of customers is associated with delivery of products, in termsof – delay in product-delivery and condition of the same (damage or defects in items). All theseprocess lead to move people towards other companies for satisfying their needs. It has evaluated from this article that there are various factors present within IKEAwhich leads towards dissatisfaction of customers. When a customer put order for a new item orwants to repaired old one, then process of delivery includes numerous activities which are donein systematic manner (Tang, Hull and Rothenberg, 2012). It starts from packaging, sorting iteminto different categories and more, for providing effective service to customers. In this regard, ifcompany fails to monitor any activity before delivery of furniture i.e. quality of products,inbound damage by vendor, inventory accuracy, total cost of labour, turnaround time,communicate with customers, etc. will drastically affect sales of branch. As undue demand of
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