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Business Strategy

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It is well-known fact that organisations are using business planning strategies in order to drive the business in an optimal manner. They are adopting financial planning for allocating financial resources to the stakes in order to meet the strategic goals of the objectives of the organisation. In order to build reputation and popularity in the world’s market strategic planning plays an imperative role in the organisations. In other words, it is a planning which enables the organisation to develop a mission statement by thoroughly analysing the internal and external organisational environment.The main purpose of this report is to analyse the operational and strategic business of the IKEA organisation. This report is about an organisation namely “IKEA” which is engaged in the business process of designing and selling various products which involve kitchen appliances, ready-to-assemble furniture, home accessories, etc. By providing quality enabled products and services to the customer the company has become the world’s largest furniture retailing company.The base location of the company is in Sweden and it is founded in the year 1943. Due to the existence of large businesses, the organisation is having complex organisational and corporate structures. The organisation operates its business in near about 252 countries. It has been recorded in the year 2018 the company has earned €38.8 billion (US$44.6 billion). BY developing a business strategy, the organisation would be able to sustain in the competitive market without any threat of substitution. In the report, how the internal and external environment of the company inflames the performance aspects of the stakes would be briefly analysed. In order to evaluate the world’s market strategies, PESTLE analysis would also be conduct in the report for IKEA organisation.Moreover, in order to proactive analyse the market demand and strategic business of the organisation the outcomes of porter’s five forces model would be investigated effectively. Furthermore, in the report, the significance ofstrategic direction plan would be analysed and evaluated with a brief description. In the last section, a brief summary is mentioned in which
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