The IKEA Company is the largest furnishing vendor in the world with many branches worldwide. Ethics, corporate social responsibility, environmental sustainability, and strategy initiate business affairs in the company. Business morals are the application of ethical principles that are typical of the actions and decisions of marketing organizations and the behavior of their personnel. Ethical standards emerge from culture and religion whereby people determine what constitutes ethical and unethical in business environments. Safeguarding human rights when administering business and the right to privacy of the suppliers is essential since it creates a good relationship between the company managers and the suppliers.
It is fair for IKEA to ensure that its suppliers comply with global levels that vary with local market working practices and settings to meet customers’ satisfaction. The company should utilize new operational discipline for the suppliers to address such challenges as child labor and environmental hazards. The firm aims at providing technical knowledge to the merchants to improve operating conditions and run training programs for its workers. Further, it improves infrastructure in areas where the distributors supply goods, and offers financial help at a lower rate.
The IKEA firm should comply with its laws of ethical standards to achieve its objectives through the managers. The executives should hold open discussions with the suppliers concerning the business strategy regarding the legality of businesses. The lack of proper business strategy can lead to bankruptcy, criminal indictments, and the conviction of company executives. Many companies have declined due to unethical business behaviors, such as greediness to accomplish personal interests and company traditions that improve profits and business performance. IKEA should utilize an ethical strategy since it can be a good business technique to serve the self-interest of shareholders.
The company requires talented managers and suppliers with skills that boost teamwork by performing their tasks to improve the firm’s operating excellence. In addition, IKEA needs to collaborate with other external partners to generate common objectives and sustainability. Collaborative managers promote good communication and cooperation to ensure effective business coordination between firms and suppliers. IKEA needs to utilize adequate resources that will enable the firm’s strategy to succeed. Corporations should adopt partnership policies to boost innovation processes that promote economic growth. Organizations should work competently to maximize their profits while minimizing losses.