Essay About Business Analysis Of Ikea Singapore And Country Background                        2Pestel Analysis

Business Analysis of Ikea Singapore
Content List        ，Introduction                              2Company background                      2 Country background                        2PESTEL analysis                            34.1 Political                                44.2 Economic                               44.3 Social-Cultural                          54.4 Technology                             54.5 Eco-Environment                        64.6 Legal                                  6Porter’s 5 forces                           75.1 Bargaining power of buyer                85.2 Threat of new entrants                    85.3 Bargaining power of supplier              8-95.4 Threat of substitute product               95.5 Competitive rivalry                  9－10Strategic recommendations                10-11Conclusion                                11Reference                                12IntroductionThe purpose of this paper is to analysis IKEA Singapore, it will show the background of both the company and the country. Furthermore, there will be PESTEL and Porter’s five forces to analysis the market and the external environment of the business. Lastly, strategic recommendations will be provided and sum up this paper.Company backgroundIKEA was first founded in 1943 in Sweden by Ingvar Kamprad and has expanded globally with over 127，000 workers in 41 countries which includes Singapore in 1978. IKEA starts sell pens, wallets, watches, picture frames, table runners, and jewelry at low prices, until, five years later, he introduced furniture into his business which became IKEA’s core business is home furniture and accessories which a vision of creating a better everyday life at home for people. （“The IKEA way,” 2008)Country backgroundSingapore gain her independence in 1965.Despite being just a dot in the map, Singapore is an economic giant. Singapore is blends with Chinese, Malay, Indian, and other religion and culture. Transportation in Singapore is also very accessible. She is also known to be the most modern city of South-East Asia.PESTEL analysis PESTEL analysis will analyze the general environment of the country for the company which also shows how the political, economic, social, technological, environmental and legal environment had an impact on an organization. A diagram will be shown below to illustrate different factors of PESTEL, followed by a brief explanation of each factors and examples.