BUS200 Internationals Business

Evaluation Of The Practices In Ikea

Analysing their various business operations, it can be observed that the brand is a multinational enterprise and hence, it is essential for the brand to remain politically neutral in order to maximise the customer base. Studies shows that multinational businesses are massively dependent on legal factors and hence, violation of any legislations might result in major challenges with business operations (Korschun, 2017).

Another study published by Korschun, (2017), explains that practicing the laws and regulations of a host country will help a brand to run their business successfully in the market. In addition to that, IKEA will be able to know the limits or boundaries for gaining a positive brand image in the market. Adopting to the changes present in external environment will assist a firm to improve their brand image.

Brief Analysis Of Ways To Manage Csr

Corporate social responsibility plays an integral part in managing and improving the brand image of a company. Hence, it is essential to incorporate effective social responsibility within a firm. In this case, adopting to the code of ethics and implementing workplace health as well as safety program can assist in managing the human capital present in the company (Moucho & Zaric, 2017). Studies show that IKEA focuses on extensive employee health management for conducting effective workplace productivity or promoting performance of the workforce.

IKEA has been observed to be highly concerned about retaining environmental sustainability and hence, with the help of effective environmental measures, this brand can further improve its brand image (Moucho & Zaric, 2017). In addition to that, the firm can also implement waste management other than their existing policies regarding substantiated environmental improvements. Developing corporate objectives regarding environmental sustainability and management of human capital can help the managers to attain desired organizational goals.

References

Korschun, D. (2017). Column: Should companies stay politically neutral?. Retrieved 6 March 2021, from https://www.pbs.org/newshour/economy/column-companies-stay-politically-neutral

Moucho, Z., & Zaric, T. (2017). The impact of CSR Reporting on financial performance: A case study on IKEA.

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