Grand Canyon University BUS 485 Executive Summary.

EXECUTIVE SUMMARY Analytical findings This semester I have learned so much on how to analyze a company. I learned what is a strategy and who to implemented in a business. Strategic planning provides the framework for ...

EXECUTIVE SUMMARY Analytical findings This semester I have learned so much on how to analyze a company. I learned what is a strategy and who to implemented in a business. Strategic planning provides the framework for day-to-day decision-making which reflects a larger vision, sets a course for your practice, and maximizes your environmental impact choices (Pract, 2009). During this semester I and CLC found that IKEA is the leading and the larger home furnishing retailer in the world. IKEA has over 380 stores and is driving the furniture market in the developing nations (Bhasin, 2018). Corporate-level Strategic alternatives One of the strategic alternatives one can propose to evaluate and assess IKEA is to do a SWOT analysis. One has to analyze the strengths, the weakness, opportunities and the threats of a company. This strategic alternative address issues or problems a company can encounter. For example, doing a SWOT analysis for IKEA has the strength of the customer base is strength by multi-channel retailing. IKEA has a significant negotiating power market involvement. The other strategic alternative one can propose to evaluate and asses IKEA is a corporate strategy that describes a company’s markets and industries. Corporate strategy is established by top-level management of a diversified business. This approach outlines the general direction of the company in terms in its different business and product lines (Edunote.com) Steps to create a competitive advantage The purpose of creating a competitive advantage is to differentiate itself from the competition. In the competitive business world, especially in the current market, there is every advantage in establishing a company at the top of the market. The steps to create a competitive advantage is to create strategic planning, extensive research, and marketing commitment to gain 2