IKEA is a global furniture company with a strong presence in the competitive market. The company's bargaining power of suppliers is weak as it has formed strong relationships with its suppliers worldwide. However, the bargaining power of buyers is strong due to the numerous alternatives available from global retailers. To mitigate this, IKEA should adopt innovation in its furniture items and provide maximum value to its customers. Furthermore, the company can develop strategic alliances with leading companies to gain a competitive edge and overcome existing competitors. Socially, IKEA faces ethical and CSR issues such as human rights, spying on employees, and product quality. To address these issues, the company should focus on improving customer satisfaction and implementing sustainable practices. Additionally, IKEA should consider using cost leadership and focus strategies to expand its business globally.