Many successful businesses stem from one simple good idea. Someone with a bit more vision than average spots a gap in the market. He or she notices that existing producers are failing to provide the benefits that consumers are really looking for.
This case study focuses on a particularly successful business idea which resulted in the foundation of IKEA, one of the largest home furnishing companies in the world. It examines IKEA’s vision/mission statements and considers how consumer needs can be met. In many ways, IKEA was a forerunner in pioneering concepts which are becoming increasingly important in modern business. These include: