Ikea launches ‘buy back’ initiative as part of sustainability drive What are th
Ikea launches ‘buy back’ initiative as part of sustainability drive What are th
Ikea launches ‘buy back’ initiative as part of sustainability drive What are the next steps of the world leader in furniture trade? The lower IKEA prices, the conveniences for the consumers through new services and the important initiatives for a new business model based on sustainable development and the circular economy. The history of IKEA began with the first store founded by the creator of Ingvar Kamprad in a suburb of Sweden in 1943. To date, 75 years later, much has changed. Now the company has turned into a giant with a presence in 50 markets. The 419 stores around the world directly employ 200,000 people. In fact, the staff reaches 1 million people along with suppliers and partners. But what has not changed in the last 75 years is the central philosophy of the company. IKEA's vision for "a better daily life at home for many in the world" remains the central goal for its next steps. At the same time, strategic alliances are unfolding that will pave the way for the next day towards a new business model based on sustainable development and the circular economy. At IKEA, they constantly monitor the impact of their activities on the environment and implement a series of initiatives to reduce environmental impact and save natural resources, with the aim of protecting the environment and the sustainability of the planet. Typical examples are the universal introduction of sustainable cultivation practices in cotton (implemented since 2005 in collaboration with WWF), but also the complete replacement of any other type of lamp with LED. Sustainability, after all, is one of the basic principles that compose the basic philosophy of IKEA in the design of its products, which is called "Democratic Design". Sustainability along with quality, affordable price, design and functionality are the main axes supported by IKEA, for the design and production of products that ensure a better daily life at home. The first second-hand IKEA store is now open in Eskilstuna, Sweden, where only used and renovated furniture are sold. The new idea of this store is intended to help the Swedish company in achieving the sustainability goals it has set. The concept store is a pilot project, which will be evaluated and adapted regularly. The plan is to collect damaged furniture and decorative items from nearby stores for repair and resale. "If we are to achieve our sustainability goals, we must challenge ourselves and put our ideas into practice," said Jonas Carlehed, Ikea's director of sustainability in Sweden. Questions 1. Discuss the possible advantages and disadvantages of outsourcing in IKEA 2. Discuss four criteria used by IKEA for awarding the contract to suppliers 3. Describe the sustainable practices implemented by the company. What challenges can arise in implementing these sustainable practices? Formatting instructions: The quality of the report and academic referencing is very important. Please, use the Harvard Referencing System. The assignment will be submitted in an electronic form (font size 11 or 12 – Arial or Times New Roman). Use Justified text. Use double or 1.5 spacing between lines and leave at least one line space between paragraphs. All pages should be numbered. The following structure is suggested to help ensure that your response is set out in a logical and integrated way: STUDENT NAME AND ASSIGNMENT COVER PAGE Abstract and keywords Table of contents, (list of figures and tables if applicable) 1. Introduction (250 words) 2. Main body (2000 words) 3. Conclusion (250 words) References

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