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Assignment - IKEA's Global Strategy

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Q (a) Organic growth in revenues has come through adding stores around the globe and entering new countries. Discuss the pros and cons of two other appropriate methods of growth (e.g. partnerships, licensing, franchising, etc.) for IKEA as discussed in Chapter 13 . (8 points) (b) Use IKEA as an example of how you feel that Michael Porter’s Five Forces helps this organization to develop an overall global strategy. (7 points) Typical answer should be 200 to 300 words for each part (a and b)

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(a) Partnership and franchising can be considered as great strategies for growth for a company. A strategic business franchising is helpful for a long-term business relationship, which is focused to keep customers. Pros of partnership are that there are greater expertise and depths involved, another new perspective can be considered while making important business decision. There will be a reduced financial burden for partnership business. The other pros involve fewer tax forms, and less paperwork. The financial contribution will be shared with partners (Hill & Hult, 2020).