21 May 2012

Expensive solutions

As founder Ingvar Kamprad wrote in his autobiography, The Testament of a Furniture Dealer: A Little Ikea Dictionary (Ikea, 1976), “Wasting resources is a mortal sin at Ikea.… Expensive solutions to any kind of problem are usually the work of mediocrity. We have no respect for a solution until we know what it costs.”

Deniz Caglar, Marco Kesteloo, and Art Kleiner, "How Ikea Reassembled Its Growth Strategy," strategy + business, 7 May 2012, www.strategy-business.com/article/00111?gko=66b6e&cid=TL20120517.