Ingvar Kamprad, the founder of IKEA, began to show his entrepreneurial abilities at an early age. When he was a young boy, he would buy matches in bulk and then individually sell them to his neighbors in Agunnaryd for a profit. He then began selling fish, seeds, Christmas decorations, pencils and ball point pens. In the beginning, he made his deliveries using his bicycle and then later upgraded to a local milk delivery truck.
In 1943, Ingvar Kamprad received money from his father as a reward for doing well in his studies. The reward money he received was put to use immediately. At the age of seventeen, he began his own business, IKEA. The name IKEA serves as an acronym that includes the "I" and "K" from his initials, the "E" from Elmtaryd which was the name of the farm he was born on and the "A" from the nearby village of Agunnarya. IKEA's product mix included pens, wallets, picture frames, table runners, watches, jewelry and nylon stockings, all will low priced tags. In 1945, the first advertisement was printed in a local newspaper. Sales began to increase and door to door selling was not covering all of IKEA's customers, so Ingvar devised a mail ordering service.
[...] More specifically, IKEA Social Initiative is currently working the UNICEF to help children in India to eliminate child labor. In order to eliminate child labor IKEA if working with 500 villages that includes over 1 million people and providing them women help centers, alternative learning centers, health initiatives and income initiatives. Over 80,000 children who originally had no alternatives to child labor and no access to education now have the ability to attend school. IKEA is a great private company who has found success by helping customers find exactly what they need and want. They are aware of [...]
[...] to design and manufacture their own furniture. There are currently 285 IKEA stores that are located in 36 different countries and there are 26 new locations that will be opened in 2009. IKEA is the world's largest furniture manufacturer. The price tag is the first factor of every design for each product at IKEA. There are many ways IKEA developed to deliver products at low prices to customers. It first starts with seeing things differently. For example, a product designing employee toured a door factory and then developed the idea to make tables from doors. [...]
[...] While designing a customer could incorporate storage for DVDs, books and game systems. It is the ability to customize furniture that attracts so many customers. There are many different departments that contribute to the more than 9,500 products provided by IKEA. They have the traditional furniture departments that include dining rooms, living rooms, and bedrooms. There are also departments that include everything one would need to design a bathroom or a kitchen. In addition to IKEA's workspace furniture for home offices, they also have entire department for work spaces for businesses. [...]
[...] Not only are IKEA's product offered at low prices, but they are designed to serve as a legitimate function within one's home. When designing products, IKEA understands the many people who are potential customers also have many needs. IKEA's designs are primarily focused are maximizing storage and maximizing space. This has led to many of their products to have duel functions. For example, IKEA has a chair that can fold out into a bed and a cabinet on the wall that can open up to a desk. [...]
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