Mission Statement, Aims and Objectives of Ikea.

Extracts from this essay...

Introduction

CHAPTER ONE: Mission Statement, Aims and Objectives Mission Statement A mission statement is also known as vision, and states the main purpose of a business, such as satisfying its customer's needs. A mission statement shows stakeholders both within and outside the organisation, and what its core values are. A business produces the statement, when it has decided on what product or service to offer to its customers. This is important step, as it describes the kind of business you plan to be. For example, Microsoft's mission is, 'taking the Internet, combining it with great software and turning them into the most powerful tool of all time'. This tells me that everyone in the company is involved with computers and software development. The IKEA vision is 'To create a better everyday life for the majority of people'. This tells me that IKEA responds to the home furnishing needs of people, across the world. This means providing more service to the people. IKEA has a restaurant to encourage customers to stay in the store so they can spend more such as, foods and drinks. IKEA has a children play area, to provide amusement to the children. IKEA's business idea is 'We shall offer a wide range of well-designed, functional furnishing products at prices so low that as many people as possible, will able to afford them'.

Middle

To develop a logistical efficiency in the whole pipeline The business has to do the following, to accomplish its aim: * Have high and stable service level, in all stores at all times 6. To attract, develop and inspire our people The company need to do the following to complete this aim: * Have the most important priority of all * Should have opportunities and responsibility to learn and develop * Successors with the potentials must do an even better job than their predecessors * Encourage an environment where people of different views, age, nationality, gender and ethnical background feel welcome 7. To be one IKEA To become one IKEA, the business has to: * Understand all aspects of IKEA's operations * Are genuinely interested in sharing and accepting ideas from each other * Get more people and information across the global * Break down all barriers between functions and markets 8. To become leaner, simpler and quicker IKEA has to do the following, to become leaner, simpler and quicker: * Shorten the distance between suppliers and customers * Reduce the distance between the different levels in their organisation * Defeat all unnecessary bureaucracy * Give more responsibility to the front line * Become big but act small 9.

Conclusion

There is no deadline set for this objective. 2. We will achieve an average customer spend of £50.28 (the average amount customers spend on each visit to the store) I think this objective is S.M.A.R.T.; it is specific on average customer, it has an accurate customer spend of £50.28 (it is measurable), it is agreed- they used the word "we", the amount of money spend by customers is realistic and it is timed- it states, "The amount customers spend on each visit to the store". 3. We will achieve a recovery rate of 71% (recovery rate is the amount waste that can be recycled) This is not an S.M.A.R.T objective. It is not timed because there are no deadlines stated on the objective. It is specific because, it identifies a particular area- "recovery rate". It is measurable because, the recovery rate of 71% is accurate. It is agreed because, they used "we" in the objective. It is also realistic because, the objective seems as if it is tough. This is a diagram of the hierarchy of objectives. It shows how staff influences the organisation at different levels. Businesses can evaluate their performance to find out how well they are doing and how they could improve it. They can do this by organising meetings, where staff can review their activities and change or set new objectives, to help a business meet its aims. P1 and P1 Theory - 3 -

The above preview is unformatted text

Found what you're looking for?

  • Start learning 29% faster today
  • Over 150,000 essays available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Over 180,000 student essays
  • Every subject and level covered
  • Thousands of essays marked by teachers
  • Over 180,000 essays
    written by students
  • Annotated by
    experienced teachers
  • Ideas and feedback to write
    your own great essays

Marked by a teacher

This essay has been marked by one of our great teachers. You can read the full teachers notes when you download the essay.

Peer reviewed

This essay has been reviewed by one of our specialist student essay reviewing squad. Read the full review on the essay page.

Peer reviewed

This essay has been reviewed by one of our specialist student essay reviewing squad. Read the full review under the essay preview on this page.