IKEA_India_SeminarPaper2020_Shuporna_MEM19

The characteristics of IKEA’s culture can be witnessed, where people often wear the
same uniform or casual dress instead of suits. Titles which shown the position are not
used in the name badge or in the way IKEA’s people call each other. They prefer the
word “co-workers” instead. Responsibilities were the key for distinguishing co-workers;
an evaluation system based on personalized yearly goals and broad guidelines is used
to evaluate employees’ performance.
IKEA people are encouraged to be independent, willing to learn, willing to listen to others
and know how to transfer and share their knowledge to others while not feeling they are
any better than anyone else. In exchange, they are offered by IKEA a pleasant working
environment; job security and a caring attitude to employees IKEA believe in each
person’s ability to develop and grow – both personally and professionally.
Diversity and inclusion are essential for IKEA business success - meeting customers,
developing co-workers, and cooperating with their global business partners. IKEA culture
promotes togetherness and encourages an individual to add value to the team and to
trust their people and treat equally.
3. Overview of Furniture market in INDIA
Global Furniture Market
• Revenue in the Furniture market amounts to US$205,395m in 2020.
• The market is expected to grow annually by 5.1% (CAGR 2020-2023).
• In global comparison, most revenue is generated in the United States
(US$261,496m in 2020).
• In relation to total population figures, per person revenues of
US$148.84 are generated in 2020.
5 Seminar Paper BDIM January 2020