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Introduction To Business - IKEA

   

Added on  2021-02-19

7 Pages1529 Words238 Views
Introduction To Business
Introduction To Business - IKEA_1
Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................11. Key issue organization is facing and relevant management theory........................................12. Importance of linking Corporate Social Responsibility to strategy........................................13. Impacts of Brexit on the chosen business organization..........................................................24. Reflection on the own experiences of working as team..........................................................2CONCLUSION................................................................................................................................3References........................................................................................................................................4
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INTRODUCTIONLeaders and managers focus on developing and implementing strategies and policies thatcan lead to bring great and positive impacts on the performance level of employees and onoverall company. IKEA is a Swedish founded multinational company that operates acrossworldwide. The company operates its business activities in UK and runs Corporate SocialResponsibility (CSR) projects as well (Arnold, 2017). The report will describe about on keyissue which the company is facing with reference to relevant management theory. Importance oflinking the CSR with the business strategies and the effects of Brexit on the chosen company willbe discussed. Further in the report reflection on own experiences will be done in the context ofworking as a team and various benefits and challenges as well.MAIN BODY1. Key issue organization is facing and relevant management theory.IKEA maintains 20 stores across UK and provides employment to approx 10900 people.There are various critical issue which are being faced by the IKEA (Cosmo and Yang, 2017).One of the great challenge faced by IKEA is that when it entered into new civilization marketthat is America. The company failed to hold appropriate and proper selling researches. IKEAfocuses on self-service footing whereas, Americans do not utilize these sorts of services.This lead to create problems for the IKEA and it can be resolved by the Fayol'smanagement theory. According to this management theory and its Division of work principle,IKEA can resolve this problem (Principles of Management by Henri Fayol, 2019). This principlesuggests that employees who are specialized in different areas should be distinguished accordingto their knowledge-based areas. The Division of work principles and Fayol's management theorysuggests that specialization leads to promote employee's and workplace efficiency and it alsoincreases the productivity and profitability.2. Importance of linking Corporate Social Responsibility to strategy.Every business organization needs to focus on linking the CSR to business strategy. Thiscan be done by helping environment, empowering women, trying for reducing the poverty rateand many more (Why Is Social Responsibility Important to a Business, 2019). This is importantas it leads to bring great benefits and advantages, such as:Improving the brand image and reputation,1
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