IKEA—Ingvar Kamprad’s startup from 1943
Talks with Petri
Managing Cost Consciousness in the Workplace
We always budgeted our cost line at about 7% which in itself led to somewhat efficiency every year. But as an example of cost consciousness and way of operating we knew that everything being right we can go to grow about 15% on the top line per year. It's actually supposed to be the opposite as well so it cannot be the cheapest option always. We also try to create an image of not being very expensive. So the customer expectation was not seeing very high quality taps in the toilet or on the floor in some sort of a marmer or whatever or marble. You are absolutely right it's a balancing act like everything else in the end you want to connect with your customer at the
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