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Due to Kamprad, IKEA is suffering from Icarus Paradox issues. So we suggest there should be aleader or a SUCCESOR for IKEA who could help in bringing change for the corporationaccording to the fast and ever changing ways of conducting business in the 21
st
Unlike any successful company, IKEA needs to focus on customer wants rather than simply
focusing on lowering costs by setting up price tags and designing furniture’s. Whe
n IKEAstarted operating its business in United States of America, it faced problems as it was not awareif what Americans wanted or preferred. They first followed what they used to do in Scandinavianmarket due to which its sales went down initially. But later when it came up with customizedadvertisements for younger demographics like married couples, college students and 20 to 30
something singles, due to which later within four years IKEA’s revenue doubled from $600
million in 1997 to $1.27 billion in 2001. This was the result of its focus on what young Americancustomers wanted.
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