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Ikea, a family business

Creation of companies and Family business

Alexandra Jordá

on 18 May 2015

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Transcript of Ikea, a family business

Ikea evolution
"My Ikea Family"
What does Ikea mean ?
How is the business tree?
Business cycle
How is “The Family circle”?
Inter Ikea Holding has the intellectual property assets under which the IKEA retailers operate.
Has it always been an easy way to Ikea ?
One of the major conflicts that IKEA had faced, and specifically its founder Ingvar Kamprad, was at the time of his
from the board of the company in
How is“ The business Circle”?
Creation of companies and Family business
Aída Gómez Arroba
Alexandra Jordá Gil

May 13th, 2015
Manuel Palma
farm where it was founded
His name
was founded in 1943 by a young Swedish farmer of 17 years, established in Netherlands. He began selling pencils, pens and matches and currently it has become a large multinational power it sells furniture, decoration, also offers saving tips through the website and its blog...
Why we choose Ikea as a interesting family business?
For its interesting and revolutionary business model and because its founder has recently retired and there is uncertainty in succession, and he has three children.
America 19.000
Rusia: 12.000
Asia & Australia: 14.000
Europe: 114.000
Total: 114.000
Spain: 6.129
Ingvar Kamprad
Board of directors
Controlling owner
Ownership: the family owns more than 50%
of the business

Management: His three sons work as a financial and administrative directors in his company

Transfer: Nowadays his son, Mathias is the new owner
Why is Ikea a family business?
Stage 1
Stage 4
Stage 3
Stage 2
Stage 5
(hiring experts)
(succession & contracts)
According to Model developed in 1983 by Lewis and Churchill
Family Governance Risks
Family Governance Risks
Ownership Risks
Succession problem
The founder was a Nazi
Both owners has been associated with alcoholism
Acquisition of INGKA Holding B.V.
Retirement owner
Lack of skills of their children to conduct business
Distribution of shares
Do you have any questions?
Thank you for your attention
His sons made him lose millions of euros
IKEA Group
is led by the President and
Peter Agnefjäll
with the broad of directors. The group works among the entire value chain, from the design of the product, to its manufacturing, distribution and sale. It has its own manufacturing units, commercial offices and 315 stores
“Growing IKEA together” strategy
Be leaders in home life.
To grow up and improve as a company.
To be long term profitable
Corporate governance structure in
The business is organized into three divisions, with the Franchise Division as the core
The Franchise Division

The Property Division (strives to create long term value through property investments).

The Finance Division (includes investment activities and treasury management).
Welcome to the independent republic of your home
None of his three sons seemed to take over the business
This added to the various scandals in which the company was plugged as:
Withdrawal of its restaurants
food with horsemeat unidentified
cupcakes with fecal matter.
The discovery that some supplier companies had used
political prisoners as free labor
However, these scandals that surround the multinational not seem to affect their business. IKEA won
3.200 million in 2012
, a record in the history of the company.
Family Statements
Kamprad are a
very private
How was the last succession?
Official: he did not plan for the future of the business, nor the future of the family or the ownership
Mathias absorb a lot of business-related knowledge during their formative years. That knowledge has been transfer to them without formal education
Mathias, Inter Ikea president; Jonas, sits on the board of Ikea Group; and Peter, who presides Ikano
Dificult decision
Strategic Problems
General mission:
"At IKEA our vision is to create a better everyday life for the many people. Our business idea supports this vision 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."
Social responsibility
Main problems:
Portugal, Italy, and Russia censored a gay ad.
horse food
Environmental opportunities and threats
About the Ikea, ikea.com. Retrieved from: http://www.ikea.com/ms/es_ES/this-is-ikea/about-the-ikea-group/index.html, 23/04/2015

Ambienteg.com, (2015), "Ikea retira un artículo sobre una pareja lesbica en Rusia". Retrieved from: http://www.ambienteg.com/tag/ikea/

BBCnews, (2015), "Ikea closes website in Russia over 'gay propaganda' fears". Retrieved from: http://www.bbc.com/news/world-europe-31879850, 09/05/2015

Boards of directors, ikea.com. Retrieved from:http://inter.ikea.com/en/governance/board-of-directors/, 23/04/2015

EAEprogramas.es, (2014), "El fundador de Ikea abandona sin elegir sucesor". Retrieved from: http://www.eaeprogramas.es/empresa-familiar/2014/05/el-fundador-de-ikea-abandona-sin-elegir-sucesor.htm 22/04/2015

EAEprogramme, (2014), "El fundador de Ikea abandona sin elegir sucesor". Retieved from: http://www.eaeprogramas.es/empresa-familiar/tag/sucesion-en-la-empresa-familiar, 09/05/2015

Fluxà, Maria, Elmundo.es, (2014), "La desconocida vida de Mathias, el joven presidente de Ikea". Retrieved from: http://www.elmundo.es/loc/2014/09/19/541aff3a22601dbc688b4588.html, 23/04/2015

Hasengard, Jens, Thewallstreatjournal.com (2012), "IKEA Chief Executive to Step Down".Retrieved from: http://www.wsj.com/articles/SB10000872396390443816804578001922463079746, 23/04/2015

Idealista.com, (2014), "Conoce al ‘señor ikea’, el hombre que convirtió su tacañería en un imperio de muebles 'low cost'". Retrieved from: http://www.idealista.com/news/inmobiliario/empresas/2014/04/22/727695-conoce-al-senor-ikea-el-hombre-que-convirtio-su-tacaneria-en-un-imperio-muebles-low 22/04/2015

Inter IKEA Group. 2015 “Broad of directors”, http://www.ikea.com/ms/es_ES/this-is-ikea/people-and-planet/people-and-communities, 11/05/2015

IKEA. 2015. “Social responsability of IKEA”, http://www.ikea.com/ms/es_ES/this-is-ikea/people-and-planet/people-and-communities/, 11/05/2015

Levante-emv “IKEA: Valencia case”.Retriewed from: http://www.levante-emv.com/economia/2009/12/22/ikea-dice-factor-politico-contribuido-retraso-abrir-valencia/663021.htm, 11/05/2015

Manuel, Cristobal, Elpais.com, (2013), "No hay recambio para el magnate de Ikea". Retrieved from: http://elpais.com/elpais/2013/04/05/gente/1365169399_196727.html, 23/04/2015

Moreno, Gloria, Lavanguardia.es, (2011), "El fundador de Ikea fue un nazi activo en su juventud", Retieved from: http://www.lavanguardia.com/vida/20110825/54205979643/el-fundador-de-ikea-fue-un-nazi-activo-en-su-juventud.html 22/04/2015

Orange, Richard, Telegraph.com.uk, (2011), "IKEA founder 'was Nazi recruiter'". Retrieved from: http://www.telegraph.co.uk/history/world-war-two/8720214/IKEA-founder-was-Nazi-recruiter.html, 22/04/2015

Ruiz, Javier, Eleconomista.es, (2013), "Mathias Kamprad, hijo menor del fundador, nuevo pesidente", Retrieved from: http://www.eleconomista.es/interstitial/volver/240878542/empresas-finanzas/noticias/4884711/06/13/Mathias-Kamprad-hijo-menor-del-fundador-nuevo-presidente-de-IKEA-.html#.Kku81dJxj8daNMV, 21/04/2015

Sustainabilit report of 2014. Retrieved from: http://www.ikea.com/ms/en_GB/pdf/yearly_summary/sustainability_report_2014.pdf, 21/04/2015

Sustainability Spanish report of 2013. Retrieved from: http://www.ikea.com/ms/es_ES/pdf/Informe_IKEA_Iberica_2013.pdf, 22/04/2015

Walker, Shaun. 2013. “IKEA’s polemic advertisement in Russia ”.Retriewed from: http://sociedad.elpais.com/sociedad/2013/11/22/actualidad/1385121065_009308.html, 11/05/2015

External factors that influence Ikea
(Leroy Merlin, AKI…)

Consumers are more demanding due to
(changing markets)

Political factor
(usually it has been the cause that IKEA couldn’t be installed where the business has planned, example: case of Valencia)

Cultural factor
(example: the advertisement in Russia)
The competitive advantage of Ikea
The products are accessible to everyone because IKEA offers:
The lowest prices of the market
Design and style in its products

Good brand image (It is known worldwide)

The firm has created a comfortable atmosphere at its establishments (buying is a funny experience for the clients)

The broad of directors of Ikea Holding S.A.
Mathias Kamprad (Chairman)

Hans Gydell (Vice Chairman)

Son of the founder of IKEA, Ingvar Kamprad
Lennart Sten

Birger Lund
It colaborates with UNICEF and Clinton Health Access Initiative.

Objective: help children from poor countries

In 2015: the foundation helps more than 100 million children
IKEA Foundation
IKEA supports the social change

Asociation with entrepreneurs that use innovation to treat social problems.

For example: IKEA collaborates with entrepreneurs from India
Asociations with social entrepreneurs
Establishes minimum requirements related to the environment , social impact and working conditions.

Trust products
IWAY Standard (code of conduct for the suppliers of IKEA)

Social responsability of the company
We could imagine that they do not have any problems with family members getting married to employees since Mathias married with Catrin Termén, around 1990.
But they ended up divorced, your ex and their son moved to a farm on the outskirts of Lund.
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