Ikea goes to South Korea

• 8 SWOT ANALYSIS
• 9 ACTION PROGRAMME
• 10 CONCLUSION
SUMMARY
• I IKEA HISTORY
• II REPUBLIC OF KOREA
• III PEST ANALYSIS
I. IKEA Company
• 1.1. History
• Created in 1943 by Ingvar Kamprad
• 50‘s : development of their own furniture in Sweden
• 60‘s: first IKEA store abroad (Norway)
• 70‘s: first IKEA stores outside Scandinavia opened in Europe, Austrialia and North America
• 1998: IKEA entered the Chinese market
• Nowadays IKEA is present in Europe, North America, Middle East and Asia Pacific
II. Republic of Korea
• Facts :
• Located in Eastern Asia
• 98.480 square kilometres
• 48.5 million people (490/sq km)
• Average age is about 34 years
• Language is Korean, but English widely taught
• Legal System: continental European civil law, Anglo American law, Chinese classical thought
III PEST ANALYSIS
• Political factors
◦ Democratic form of government
◦ Young but stable democracy
◦ OECD and ASEM member
• Economic factors
◦ Growing deregulation and privatisation
◦ Internationalisation of the Korean economy
◦ GDP equals the one of less developed European countries
◦ Rate of inflation: 3,0 %
• Socio - cultural factors
▪ Open minded regarding e.g. western lifestyle
▪ Tradition oriented
• Technological factors
▪ Integration into the high-tech modern global economy
▪ Investment in knowledge: 5,4% of GDP
▪ Gross domestic expenditure on research & development: 3% of GDP
INTRODUCTION
• choosing the Company
• Collecting needed information
• analysis of the information with PEST and SWOT
• Making our experiences by working in an international project with members from different nationalities, we recognize what is important when going abroad.
• final goal is answering four questions
◦ In what manner should the company proceed with its internationalisation process?
◦ What management requirements do the operations in an international environment place?
◦ What are the main issues involved in succeeding in establishing a viable operation in the country you have selected?
◦ How should work be organised to best take advantage of opportunities perceived and avoid hazards identified?
IKEA BUSINESS
• 2.1. Business Idea
◦ “The...

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