Business Strategy Report for IKEA: Mission, Vision, Objectives, Competitive Advantage, PESTLE Analysis, and Porter Five Forces Model

BusinessStrategy

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
1. A critical evaluation of the value of clear purpose, vision, mission and objectives in setting
the strategic direction of organizations using examples from selected organization..................1
2. Assess the competitive advantage of the selected company, using the VRIO framework.....3
3. Illustrate external environment by using PESTLE framework for analysing toward selected
business.......................................................................................................................................5
4. Explain the Porter Five Force Model for the selected organisation........................................5
5. Analyse and review about organisation strategy of selected organisation. .........................5
CONCLUSION................................................................................................................................5
.........................................................................................................................................................5

INTRODUCTION
Business Strategy is comprises about to generalise to define about certain planning or
tactics which involves in specific business to gain better competitive advantages (Abiyyu, Najib
and Asmara., 2020). The importance of business strategy is essential as it describe how
individual company can make their market research and proper analysation in perspective of pros
and cons which generate better outcomes to gain more competitive advantages. In this strategy
evaluation is also plays an important role to specify process for determining where the
effectiveness within given strategy to accomplishing organisational objectives (Dilami, Hosseini
and Ahmadi., 2021) .It is taking corrective actions wherever required in marketplace and
business environment.
In this business strategy report, the company is selected IKEA is one of largest furniture
retail business that deals with innovative design and ready to sell for better assembling of
furniture, kitchen appliances and home where among of goods and services. The topics are used
to covered in following report vision, mission, and objectives related with selected company
along with strategic direction. To analyse the competitive advantages where it evaluate regarding
with four attributes by using VIRO. External analysis for that using of Pestle Analysis and Porter
five forces to mapping effective competitive analysis. At last there are evaluation of internal
environment and relevant frameworks, strategies to enhance competitive edge and market
position and ultimately the theories, models to produce a strategic management plan with proper
analysation regarding with overall assessment to provide organisation strategy.
MAIN BODY.
1. Illustrate about company related mission, vision and goals along with specify the objectives in
setting goals the strategic formulation.
About Company:
IKEA is leading manufacturing brand of furniture and other retail base product and
services offer. The company is majorly situated in globally and they have 476 stores and online
store which they owned private manner. IKEA is has been world largest furniture which is
retailer to attention towards cost control, operational, details and continuous product and services
which allowed IKEA within annually within lower prices towards better average costs control. In
1