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A few of the Essay and Assignment tackled on Furniture
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| | Business Plan for ‘Factory Furniture’ and its expansion into European market | | | Furniture is such a commodity in any market of the world which has a very generic demand. It could be classified as common man’s demand at the same time high end demand as well. The moment a society head for growth and development and infrastructure start building up, furniture is the first thing comes under a lot of demand. Factory Furniture has the positive aspect of manufacturing furniture in public place convenience and that gives them the strong point to come under notice globally. New market evolution helps consumers to arrange for easy financials for residential properties or new business ventures and further expenditure on interior along furniture. Evolution of globalisation and its effect or interaction helps the demand evolve more and take a vast shape. Starting from public furniture to furniture in education institutions, offices, residential properties everything makes a change in style, colour, structure etc. The opportunity hence is large for a company like Factory Furniture to expand its horizon of new furniture, new style, new texture, new market and a large profit. Even if the production operation takes place in Malaysia, the brand still gets the opportunity to spread. Niche market like Europe is a strong economy, with high purchasing power and considered a developed nation. It is near geographically to UK and has a large population who likes innovative and stylish way of living. Europeans prefer wooden elegance than a metal one; hence, they Factory Furniture’s expansion strategy towards European market has been more of a wooden elegance.
The objective of business for Factory Furniture becomes many folds, expand their business horizon, expand their market horizon, establish the brand much largely, and make it famous in other parts of the world apart from UK and definitely getting a quick return from all requisite investments done on these. The USP for Factory Furniture is that it makes furniture which is both wooden as well as metal, giving it an elegant look. Targeting the high end class in Europe the company needs to focus on the sales optimization and the attaining of the high level of customer satisfaction as well which is typically post sale service. The business, corporate or upper middle classes are targeted for this product.
The strategic positioning for the brand Factory Furniture is to have a niche market for itself in other parts of the world also and to begin with Europe which is famous for its demand for elegant and architectural furniture. Therefore Central and Eastern Europe were identified as the potential market. Local consumers, the homemakers along with offices, corporate houses and of course other infrastructure like schools, colleges etc. would be targeted. Europe has an eye for detail and elegancy and can afford it also, so wooden than a metal has been targeted
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| | Business plan for a Furniture factory in UK | | | With a continuous change in the life style of consumers and social changes, there is growing demand for decoration of dining room decoration in the market. The demand for growth in fashion awareness is forcing the market to grow to a new height. It has been mentioned in the article UK dining room and occasional furniture market (October 2004) that in spite of the worldwide recession, the dining room furniture market is growing at a pace of 1-2% per annum in the UK.
The company is based in London, UK and it produces metal legs and tables which are made of metal legs and laminate tops. The company has got an established supply chain and the operations are managed by well trained staff. To cope with the increase in demand, the company wants to set up a new factory in Malaysia which will produce range of dining tables made from mahogany wood which can be sourced from the local wood suppliers in Malaysia.
The company’s current mission and vision is to become the leading provider of dining tables in the European Union within the next ten years, and that too, at a profit.
The current business plan will explore the business opportunities and the operational aspects of setting up the factory for manufacturing dining table in Malaysia. Though the primary objective of the plan is to highlight the operational issues, it should also clear the aspects of marketing, accounting and finance. The marketing strategy will also be discussed in detail.
The business plan will also take into account all the costs involved in transporting the finished good from Malaysia to UK.
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| | Business plan on IKEA furniture and its expansion on European market with production in Malaysia | | | Furniture is one of the greatest demanded products in a livelihood and as the economy is growing, so is per capita income followed by consumer demand. Consumers are buying house and property market is growing leaps and bounds across the world. Financial market evolution helps the consumers today to take easy loans for their dream house, and decorating it. Also, new consumer demand has raised the evolution of new product lines which eventually pushes the demand of new ventures to start up, new products, and new companies. That automatically pushes the opportunity of new infrastructure, new offices, and new education institutions and without furniture all these are empty and un-fulfilled. Therefore, furniture is something without which livelihood is incomplete. Different market would have different type of furniture demand. It all depends on the developed or developing societies in question. A developing or under-developed nation would not be able to afford metal furniture which is expensive at the same time; developed economies would be able to afford not only the metal as well as the costly and elegant wooden furniture (Koncept Analytics, 2008).
There is one largest brand Ikea and we are evaluating the concept of furniture making and selling in the niche market. Europe is a strong economy, with high purchasing power and considered a developed nation. It is near geographically to UK and has a large population who likes innovative and stylish way of living. Europeans prefer wooden elegance than a metal one; hence, they Ikea’s expansion strategy towards European market has been more of a wooden elegance.
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| | Comprehensive Review report of IT/IS practices of IKEA | | | The report has been prepared for IKEA to review its current uses of IS/IT in their operations, critique their IS/IT management practices and recommend new changes and possible initiatives that would improve its business performance. The report starts by presenting a clear picture of the lacunae in the company’s operations and IS/IT management practices. These have been viewed as a human activity system rather than as a mechanical operation. It has been found that IKEA sticks to traditional methods in order to reaffirm its unique identity; but this stance needs to be changed at the following levels- Customer Service, Marketing Strategies, and Internal Organisation. For this purpose, IKEA has been viewed from an external customer’s aspect as well as an employee’s internal aspect. Its CATWOEs have been discussed to arrive at a concrete picture of the areas that need amendments. IKEA has been thoroughly analysed through a study of its organisational culture and attitude towards IS/IT practices. A SWOT analysis of the company has also been undertaken. According to the conclusions from these analysis, an IS vision has been developed for IKEA. It has been supported by IT architecture. Need of more and better machinery and software has been emphasised. Training of the personnel and modifying the work environment has been appropriately discussed. IS Strategic Plan has been included in the report to make this vision and architecture a reality. Lastly, recommendations have been summarised in the Wiseman’s framework. We wish IKEA all the best in all its future endeavours. | | |
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| | Report on Managerial Leadership in IKEA | | | The definition of leadership has been changing with time. The several mutations that the very concept of leadership has gone under are proof of the emerging needs and competition of organisations. Leadership is no more just the task of decision making; it is an all encompassing field. These changes have given rise to newer terms and concepts. One of such terms and concepts is ‘managerial leadership’. Managerial leadership is the skill of maximizing opportunities not just for oneself, but for the organisation on the whole. Topping (2005) states that enabling your associates to work at their very best is the core of managerial leadership. Managerial leadership thus, transcends the individual and works at the level of the organisation. It is argued that managerial leadership works both at the individual and the organisational level. This is true to some extent only because ultimately, it is the organisation that is the target of managerial leadership. More and more organisations are adopting managerial leadership for this very reason. Managerial leadership helps in improving the efficiency of the whole organisation. Therefore, it has become quite popular.
Managerial leadership has various levels. It moves in a sort of hierarchy. Thus, there are managers or leaders or managerial leaders at different statures. There may be an administrative officers, then a middle manager and at the top an executive. All are responsible for managerial leadership; the nature and content of tasks of course varies at these levels. Therefore, managerial leadership requires training. It is also called ‘Managerial Leadership Development’. To maximize the opportunities for success for both the individual and the organization, the timing of leadership and managerial development training should be strategically considered. The training required for an individual to be successful should not focus on skills required for the individual’s current position, but rather on skills required to be successful at the next level position (Kotter, 1990). Often, managerial leadership development draws a distinction between leadership and management. This distinction is necessary for determining the appropriate training for all levels of leaders or managers. According to their tasks, Smith (2007) has drawn out four basic levels of leaders- first line supervisors, middle manager, administrator and executive. First line supervisors and executives are supposed to be most concerned with leadership as compared to middle managers and administrators, who are more focussed on management. At the same time it is pointed out that ‘developmental training’ is different from regular training. While routine training would merely provide skills necessary for the current situation, developmental training seeks to equip leaders with managerial skills that will help the overall organisation and also produce benefits for the future. This is in fact the very premise of managerial leadership development. Effective leadership not only enhances corporate performance, but it fosters employee motivation, job satisfaction, performance, and organizational commitment, while reducing absenteeism and turnover. Current thinking about leadership emphasizes that effective leadership spans a continuum ranging from managerial to transformational leadership.
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