Introduction
In the essay, I am going to give my reflection about a group presentation in a Business Studies class. The essay will focus on my experiences as part of the group as well as lessons learned. The essay will highlight several areas of interest. These areas include giving the basic background information on the topic of the presentation, IKEA, the core areas of presentation such as porters five forces, PESTLE and SWOT analysis, and recommendations. The essay will also focus on the presentation skills employed during the group, the strengths, and weaknesses of the presentation, the justification of this presentation as well as suggestions to consider for future presentation.
Presentation skills
IKEA is a leading retailer of furniture and household goods, with unique commodity brands from Scandinavia. It runs 253 stores in 24 countries located on four continents. The company, which was established in 1943, also runs franchises in many other countries. The group thus sought to present a very solid case on IKEA’s presence in the market (IKEA 2011). As such the group had chosen to adopt a unique presentation style built on teamwork. Several factors affected the group’s presentation, such as time allocated for each presentation. This to some extent affected the quality of presentation.
The reason why the group chose IKEA is because of how it dominates markets in which it operates. The group was able to show the company’s very strong presence in all the 24 countries it operates in, coupled with increasing popularity amongst first-time furniture buyers. Furthermore, the presentation vividly explained how the company employs a unique competing strategy in the market that shuts off prospective new entrants from having any gainful say in those markets.
This leaves IKEA as the dominant market force. Most importantly IKEA provided a perfect case of a multinational that can exploit the overseas market while maintaining both the product and company brand. The case also presented a good opportunity for using Porter’s five forces as well as the PEEST analysis in explaining how IKEA understands its complex business strategy (Management 2011). This is something that the group presentation was able to achieve
The group sought to employ the collaborative technique of presentation where each of the members had their specific areas to cover. The advantages of this type of presentation could not are underestimated. The diversity of members present gave the group the diverse skills it needed. Each member presented the areas of study that they were comfortable with. Most importantly, the collaborative technique adopted by the group ensures that no single member was overwhelmed by the task. As such the teamwork resulted in better quality work than would have an individual (Thiagarajan & Parker1999).
I realized that the group presentation had an uninterrupted flow of information from the introduction to giving recommendations. This resulted in minimal informational gaps. From the introduction which gave very brief but informative background information on the case under study, the group immediately started the company’s mission statement. It was important to state the mission statement at this point as it reflects the company’s social consciousness and explains the company’s intention to be more responsible towards the community. The mission statement thus set the tone for the rest of the presentation.
The group’s presentation on the PESTLE analysis was brief and informative. The group was able to focus on the basic areas of interest under each of the variables represented by the acronym. This analysis was able to describe IKEA as both socially and legally compliant in all the countries that it operates. The analysis also was able to assert the company’s global competitiveness in an increasingly liberal market.
The company’s decision to open shop in WTO member countries only shows its desire to exploit the politics of global economies in achieving sustainable business. In showing that IKEA’s business was affected by foreign exchange rates, the presentation further asserted the company’s global status. The analysis also highlighted the company’s responsibilities towards the natural environment as its products are produced under strict observation of the environmental laws of the specific market.
The presentation of the Porters five forces also gave a very solid position of the company in the market. Porter’s analysis of IKEA was able to explain vividly the company’s strong presence in the market. It also explains how the company utilizes the liberalized supplies market for its benefits as well as to the buyer of its products, further highlighting IKEA’s concern for the buyer. This analysis emphasizes how the company uses its strong brand as a competitive market positioning tool to eliminate rivals from the market.
However, the presentation of PESTLE and Porter’s five forces analyses has certain weaknesses, which if addressed would be useful in future presentations. The group failed to incorporate figures and statistics such as the fluctuation in foreign exchange rates.
Furthermore, the group should also have focused on how local political factors affect local businesses. Moreover, the presentation did not also clearly highlight the weakness that IKEA is exposed to as well as offering credible recommendations that the company should adopt in responding to the threats. Such shortcoming is reflected in the presentation’s inability to offer solid measures to deal with the weaknesses presented by the company’s size in the global market.
The presentation should also have given a more detailed analysis of the company’s buyers and their purchasing patterns (Management 2011). Overall, while the recommendations were good and practical, but they were too general and did not address the specific problems that the group identified as affecting the company’s performance. The presentation was also hurried up and as such, it did not allow the audiences to seek clarifications or ask questions.
Conclusion
The group presentation scored several points. It managed to present its case within the given time slot. The group managed to cover the case from the introduction to the conclusion where it gave the recommendations for the case study. Moreover, the group also managed to show a clear understanding of the case study (IKEA) and its business strategy, as well as how certain theories such as PESTLE analysis and the Porters five forces are applied to the case.
Furthermore, the group utilized the collaborative presentation which reduced the chances of overwhelming one individual. This was paramount in ensuring that the quality of the work presented remained within acceptable standards. In the future, the group needs to focus on making a more elaborate and detailed presentation in the future. The group needs to give statistical figures and also state recommendations that address the weaknesses identified during the presentation.
Reference List
Hooley, G., Saunders, J., & Piercy, N., 2004, Marketing strategy and competitive positioning. 3rd edition. London: Prentice Hall.
IKEA. (2011). Web.
Management. (2011). How does IKEA approach operations management? Web.
Thiagarajan, S., & Parker, G., 1999, Teamwork and teamplay. San Francisco: Jossey- Bass/Pfeiffer.