IKEA Mission and Vision Statement Analysis

ikea mission statement

With a dream of creating a better life for people regardless of the size of their wallet condition, the founder Ingvar Kamprad started IKEA in 1943 in Sweden. Very few people know the fact that the name IKEA is got from the first alphabet of the founder and his grown-up village. IKEA is regarded as one of the few worldwide brands that provide readily available home furniture. The company has been steadily diversifying the types of items it offers its clients . From home service to the restaurant, IKEA has a wide range of products. Furniture items are the best selling product around the world. Currently, IKEA has expanded its business in more than 63 markets and operates 466 stores in different countries.

IKEA Mission Statement   

IKEA has created a brand intending to deliver quality products at a low price. It has a straightforward business purpose and mission.

The mission statement of IKEA is, “To offer a wide range of well-designed, functional home furnishing products at prices so low that as many people as possible will be able to afford them.”     

A mission statement depicts the company’s purpose and the tactics to reach those purposes. Here, IKEA’s mission statement outlines the following elements that describe the business and align with its purpose and goal.

  1. Wide range of products
  2. Sustainability
  3. Affordability  

Wide range of products: IKEA has a huge range of products that make the brand visible in the market more intensely. Though they have mentioned in the mission statement specifically about the furniture items, IKEA has a couple of other product lines. They have a large collection in various styles; from home appliances to food items. The intriguing idea is IKEA always takes care of every tiny detail that matters to the audience.

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Sustainability: IKEA has developed a strong business model that has a sustainable value chain system for the customers. They believe in sustainability in terms of product, service, and contribution to the world. They focus on creating well-designed products that can ease consumer user experience. Other than that, IKEAs has the following mission to become a sustainable business:

  • Transforming into a circular business
  • Becoming climate positive
  • Responsible sourcing

Affordability: Low prices and affordable service are the most inseparable elements of IKEA. The mission of the company outlines the purpose, and that is reaching people as many as possible with the most affordable service. IKEA aims to adopt a low-cost strategy and provide products at half of the price compared to the competitors.

IKEA Vision Statement

The vision statement of IKEA is, “To create a better everyday life for the many people.”

This one statement reflects IKEA’s philosophy, why it exists, and how far it is versioned to go. The organization relies on the quality of its products and how the products can make a positive impact on the plant.

Here are the main components of the vision statement.

  1. Make the world better
  2. Extend the business
  3. Serve more people

Make the world better: From the beginning of the company, IKEA has worked for the betterment of the world. The view is to make a better home that will lead to a better life. They strive to make a better life every day through their products and service. By making every life, every home perfect, IKEA will make a better world. They dedicate to developing goods and services that encourage and enable individuals to make positive lifestyle choices, consume more sustainably, and live better lives.

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Extend the business: IKEA takes a future-centric approach to operating the business. Through its unrivalled products, the company has established itself as a trustworthy brand. IKEA has gathered the top designers to ensure that all of its products are up to date with time and keep itself relevant to its customers. They have operated for over 78 years and have expanded business in 63 countries.

Serve more people: IKEA brings thousands of coworkers and hundreds of firms under one brand name. The vision is simple- Together, all over the world. They aim to serve as many as they can. They expand the business, including the various owners, and create scope to serve the stakeholders. IKEA believes in caring for people and the planet. They set vision according to their beliefs. They develop a sustainability plan to achieve the vision.

Values of IKEA

Core values define a company’s beliefs and necessary aspects. IKEA declares the values of the company as the “Forever parts.” The core value reflects how they treat people and surroundings for making every decision of the business.

  1. Togetherness
  2. Caring for people and the planet
  3. Cost Consciousness
  4. Simplicity
  5. Renew and improve
  6. Different with meaning
  7. Give and take responsibility
  8. Lead by example

The underlying values of IKEA are critical to the company’s constant success. They highly appreciate engaging employees and making them realize the company’s purpose and vision.

FAQ

What is the motto of IKEA?

The motto of IKEA is, “Together all around the world.”

What is the philosophy of IKEA?

IKEA believes in giving people the ability to make decisions for themselves. The company philosophy is- Individuals can grow and develop through giving and taking responsibility. Everyone is inspired to contribute to the development when they trust each other and are cheerful.

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What is the ambition of IKEA?

The goal is to become completely “circular” and climate positive. This ambition includes the company’s intention to adopt entirely renewable or recycled materials in its products.

Does IKEA change its mission statement?

No, IKEA does not change its mission statement from its start.

What is the aim of IKEA’s sustainability ambitions for 2030?

IKEA’s sustainability ambitions for 2030 aim to increase users’ become environment friendly and create a positive impact on society.

Reference

  • https://about.ikea.com/en/about-us
  • https://www.inter.ikea.com/en/how-we-do-business/ikea-culture-and-values
  • https://www.businessinsider.com/ikea-aim-to-use-only-renewable-and-recycled-materials-by-2030-2018-6
  • https://gbl-sc9u2-prd-cdn.azureedge.net/-/media/aboutikea/newsroom/documents/ikea-sustainability-strategy-people-planet-positive-2020-511938_v3.pdf?rev=23e23d34738d4f678ef51e30bc0d79fe&hash=D6260594B415E4A77AFFED93C44EED0
  • https://www.frbsf.org/economic-research/wp-content/uploads/sites/4/BaxterLandry.pdf
  • https://www.businessinsider.com/why-ikea-is-so-cheap-2018-10
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