business innovation at IKEA

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Question Description

Q1. innovation at IKEA (at least 300 words)
A. why is IKEA an innovation company? Support your answer with examples.
B. discuss the role of four business functions at IKEA. Give at least two innovation examples for each business function at IKEA.
Q2. product offering and targeting (300 words at least )
A. discuss the three levels of a product by using the HAMARVIK mattress as an example.
B. discuss the four targeting strategies. Which targeting strategy does IKEA use for its mattresses. Justify your answer. (Check the mattress section on the IKEA website before answering this question.)
Q3.The marketing mix and innovation (At least 500 words).
IKEA’S marketing strategy consists of market segmentation, targeting, positioning, and the marketing mix. IKEA’s marketing strategy enables the company to be a successful player in the global marketing. using your knowledge, evaluate how innovation in IKEA’s marketing mix elements are used to position the products within the minds of consumers. Your answer should contain the following:
1. IKEA’S market segmentation and targeting
2. what is positioning. How is it related to the marketing mix?
3. examples of the IKEA’s marketing mix elements and their contribution to brand positioning
 
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Innovation In Business

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Innovation In Business Essay

Question description

Introduction: In today’s highly competitive global economy management must recognize and seize opportunities in order to gain an economic advantage. With the advent of technology organizations have implemented cost containment, virtual collaboration, and effective customer feedback initiatives, and with the added efficiencies greater capability to innovate by creating and redesigning products to meet market demand.
Deliverables:
The essay for this lesson is required to be a minimum of 4 pages. Essays should have a clear introduction, thesis statement and conclusion, written in APA format (APAstyle.org).
Activity Details:
Step 1: Introduction
Consider how managers seize opportunities. The written analysis should include a minimum of three references cited within the content of the paper and the reference page according to APA guidelines.
Begin with an introductory paragraph that poses the question – How do managers seize opportunities?
Once executive management recognizes an opportunity, the company generally will assign a manager to seize the opportunity by taking the previously selected need, want, or problem and converting it into a commercial product. There are five ways a company can fulfill a customer need or want:

  • it can sell a commodity that provides the materials or ingredients the customer can use for fulfilling their need or want
  • it can sell a finished good that is already assembled and can be put to immediate use by the customer
  • it can provide a service that accomplishes a specific task for the client
  • it can stage an experience that more fully engages the customer
  • It can cause a transformation where the business has a deeply personal impact on a customer (which is rare)

Step 2: Research and Write Essay Content
Research via internal course materials and external resources (relevant Internet articles, books, etc.) to deliver a written analysis on the following:

  • Commodities: Provide a description about commodities in general, consider and describe how business opportunity is created with respect to innovation of commodities from a scientific and/or economic perspectives.
  • Products: Describe how new products and new product approaches can be created and/or adapted to create demand opportunity
  • Services: Provide a definition of what a service based business is, the benefits and advantages of service based business. Provide examples where business have listened to their customers to find out their unique needs and problems thereby translating into business service opportunity.
  • Experiences and Transformations: Consider creative business opportunities that offered new experiences and approaches that were more memorable and personal. For example, experiences that are esthetic, escapist, educational, or entertaining. Transformational business looks for ways to help customers realize their aspirations along the physical, emotional, intellectual, or spiritual dimensions. Elaborate on this concept and provide transformational business examples.

Step 3: Conclusion Summary

Conclude the assignment with a statement of the type of business that a company or an entrepreneur might wish to pursue given any given potential idea or opportunity example (real or otherwise). Substantiate why a commodity, product, service, transformational business (or combination thereof) would likely be the best approach following the above written research analysis.

 
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Business Innovation in Marketing

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Question Description

I will upload the supported materials needed in for this task.
Propose an individual plan in two paragraphs.

  • Include personal characteristics to best explain your talents, behaviors, and worldview — consider the opportunities around you and available to you for
    • Name your strengths. Top 5 strengths finders. What do these mean to you?
    • Your abilities/aptitudes –what talents did you identify with in the assessment results?
    • What you value/what is your purpose?
    • What did you find this term are your passions and interests?
    • Do you have an overall world view you discovered?
  • Refer to your answers from course Activities
  • Look at resources in Canvas Module on The Individual

A successful answer to this question will include at least one page. Students should report where the content for the answer was retrieved. Use APA citations and references as sources for information. (SLO 2.1)

 
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Management Innovation

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Management Innovation

Question Description

Management Innovation
As innovation and technology continue to accelerate the already hectic pace of business, managers must consider if they are also developing their management styles to reflect the new reality. For organizations to remain competitive they must constantly evolve and managers play a key role in directing that evolution.
To prepare for the Discussion, review the Hamel article in this week’s Resources. In this article, Hamel discusses the importance of building an agenda for management innovation. Locate a research article that focuses on the future of management and is aligned with one of the suggestions in the Hamel paper. The article you select should involve your current or desired field of management.
Now answer and addresses the following:

  • Provide a brief summary (with the reference) of the article you selected and then demonstrate how this article adds to or refutes the specific “moon shot” you selected from the Hamel article.
  • Based on your evaluation of your selected article and the Hamel article assess what challenges could accompany these changes?
  • How do you envision the field of management changing in the future? Why do you expect such changes and what will drive them?

Note: All work in APA format with proper citing!
References:
Hamel, G. (2009). Moon shots for management. Harvard Business Review, 87(2), 91–98.
Retrieved from the Walden Library using the Business Source Complete database.
Johnson-Cramer, M., Parise, S., & Cross, R. (2007). Managing change through networks and values. California Management Review, 49(3), 85–109.
Tengblad, S. (2006). Is there a ‘new managerial work’? A comparison with Henry Mintzberg’s classic study 30 years later. Journal of Management Studies, 43(7), 1437–1461.
Fleming, J., Coffman, C., & Harter, J. (2005). Manage your human SIgMA. HarvardBusinessReview, 83(7/8), 106–114. Retrieved from https://cb.hbsp.harvard.edu/cbmp/pl/62216053/62216151/a8ab4b965252486bfa78371fbca3811f.
Likierman, A. (2009). The five traps of performance measurement. Harvard Business Review, 87(10), 96–101.

 
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