Note how they are a differentiator in the market.
Note the resources used to ensure success in their industry (remember resources are comprised of more than just people).
Explain what actions the company took to achieve operational excellence.
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IKEA differentiates itself in the market by offering 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. This is possible because of IKEA’s unique business model, which includes designing, manufacturing and selling its products directly to customers. IKEA has been able to keep its prices low by investing in efficient manufacturing and logistics, and by making smart use of materials and resources.
IKEA’s resources include its large global footprint, which gives it a significant competitive advantage in terms of scale and reach. IKEA also benefits from its strong brand identity and reputation, which have been built over many years. In addition, IKEA has a very efficient and well-developed supply chain and manufacturing operation. All of these factors combine to give IKEA a significant competitive advantage in the market.
IKEA has achieved operational excellence by investing heavily in efficient manufacturing and logistics, and by making smart use of materials and resources. IKEA has also developed a strong brand identity and reputation, which have been key to its success.
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