CUEGIS Essay already graded A+ 2024 LATEST UPDATE.

Change When an organisation adapts their objectives, strategies, and operations in response to signals in both the internal and external environment. These signals include changes in competition, new technologies, markets, and consumer trends. In which success emerges from the ability to research and respond to signals in both the internal and external environment Culture what is considered normal to an organisation, such as the way workers behave within the business; it is largely based on beliefs, values, and attitudes of employees and management. Within an organisation, values and backgrounds influence what stakeholders focus on and how they work Brainpower Read More Ethics The moral values that determine and affect business behaviour and decision making. Where each business decision has moral implications whose consequences can be significant to both internal and external stakeholders as well as the natural environment. globalisation The growing interdependence of international forces (such as increasing social, cultural, technological, and economic integration) acting on a business. These businesses in turn shape these same forces, with many operating across international boundaries. innovation The incremental or radical improvements to a business idea, or the generation of new ideas in relation to a final product, service or process, which are the result of internal or external influences. With the main challenge associated with change being the implementation of 'the new' in a sustainable way. strategy The significant long term planning decisions that organisations make in order to meet the needs and wants of their stakeholders. Timing of Cuegis total = 50-55mins Planning = 10 mins Introduction = 5 mins Concept 1 (2/3 body paragraphs) = 15 mins Concept 2 (2/3 body paragraphs) = 15 mins Conclusion and review = 5-10 mins Import to analyse... STAKEHOLDERs: internal/external; individual/group e.g. CEO and consumer groups IKEA brief intro IKEA is a Swedish founded Ducth-based multinational group that designs and sells ready-to-assemble furniture, kitchen appliances, and home accessories. It has been the worlds's largest furniture retailer since 2008 IKEA general info founder: Ingvar Kamprad revenue:€35B Net Income: €4.2B total number of employees: 194,000 known for: modernist designs and eco-friendly sustainability, attention to cost control, operational details, continuous product development owns and operates 415 stores in 49 countries 2010 global expansion price lowering (IKEA) 2-3% general mark down Corporate Structure (IKEA) Complex = members of European Parliament believe = to avoid €1B tax payments between revenue growth 7.6% increase IKEA websites visits (IKEA) 2.1B wood consumption (IKEA) 1% of commercial product wood consumption store layout innovation (IKEA) reduced energy consumption = use of skylights = natural light ≠ artificial = also makes products look better 'as-is' section = returned, damaged, old stock sold = significantly discounted, no refunds = instead of throwing away = named according to local customs designed to maximise foot-traffic without feeling cramped = has distinct pathways store layout culture (IKEA) match store layout to local area 'as-is' section = in every IKEA store = damaged, returned, old stock sold = heavily discounted = no refunds = instead of throwing out = match name of area to local customs e.g. UK = bargain corner, Sweden = FYND (bargains), Denmark = rummage boutique store layout: general 1) smaland: children's play area 2) showroom: large furniture is displayed = aimed to inspire shoppers 3) restaurant = half way point = shoppers can eat and rest = affordable food strengths IKEA's perception as quality and affordable restaurant globalisation and change (IKEA) match their restaurants Swedish food to appeal to local tastes e.g. change Swedish meatballs to meet Malaysia's halal requirements Children's playground innovation (IKEA) every store = 'Småland' area = children's playground = parents to drop off kids when shopping parents = giver pager to by IKEA staff = to call if child wants them = enable parents to shop with peace of mind and tranquility = spend more time in store selling ready to assemble furniture ≠ pre-assembled, innovation and strategy (IKEA) reduce costs and use of packaging = take less space and therefore use less packaging less time spend assembling furniture easier to transport in mass quantities also more practical for customers = easier to transport in car or public transport = easier to purchase democratic design (IKEA) sustainable approaches to mass consumer culture = in response to increasing human population and resource consumption = seek to minimise use of resources and costs e.g. particle board = wood fibre glued under heat and pressure = warp resistant, hollow, building material with superior strength SONOS and IKEA collaboration announced 2017 = integrate sound systems intro home furniture = innovation = developing smart-home technology also partnered with Phillips HUE, and have introduced Qi Charging into their everyday furniture (wireless charging) Corporate Structure (IKEA) owned and operated by complicated selection of not-for-profit and for-profit corporations = divided in 2: operations and franchising aimed at helping IKEA make non-taxable profit = reduce taxes = means Kamprad family cannot directly reap the profits = do so via a intermediary for-profit company = paid as franchising fees Taxes, strategy, innovation(IKEA) tax evasion = e.g. 2004 = Inter IKEA group of companies collected €553M profits = paid €19M taxes = 3.5% tax avoidance strategies = criticised by The Berne Declaration (Swedish non-profit) = promotes CSR = awarded IKEA a 'Public Eye' award = for corporate irresponsibility Labour practices (IKEA) named one of 100 best companies to work in by working mothers in 2004 and 5 ranked 80 in Forbes top 200 companies to work for 2006 and 2008 2012 = IKEA France = spying on its employees and clients by illegally accessing French police records = claimed they feared employees were anti-globlalists and potential eco-terrorists Formaldehyde scandal (IKEA) = highly publicised formaldehyde scandals = chemical compound in water, fruit, wood = also added to industrial processed = broken down in nature and not accumulated in organisms upon contact = allergic reactions high doses = carcinogenic previously found in high concentration in IKEA furniture following the scandal = proactive stance in environmental issues = aimed at preventing future incidents Environmental practices (IKEA) incorporated intro strategic goals = maximising impact of resources invested and reduce the energy necessary to address isolated issues IKEA Way or IWAY supplier code of conduct = integrated part of IKEA's purchasing model = covers social, safety, and environmental concerns 60 IWAY auditors = perform hundred of supplier audits annually = ensure the law is followed all employees = trained in environmental and social responsibility no acceptance of illegally logged wood IKEA wood consumption almost 50% of consumption = for pallets = then transitioned intro an optiledge system = made of 100% recyclable polypropylene = designed by IKEA and sold to other companies IKEA clean energy 2020 goal = 100% clean energy supply gl