Do not miss out assessing your culture as part of your strategy renewal and transformation. Just as a ship requires a seaworthy check before setting sail, evaluating your organisational culture is the crucial prelude to a successful strategy renewal and transformation. As a strategist I know that a large culture-strategy disconnect can be catastrophic. You...

Strategy renewal provides a great opportunity for assessing your culture

I decided to write about savings programs for two reasons. Firstly, they are currently very common. According to PwC’s global survey from November 2022, 42% of senior executives globally have identified cost reductions as key components of their 2023 plans. Secondly, and more importantly, because too few cost programs generate long-term value, but there are...

Lessons from Companies that Achieve Growth after Cost Programs

There are certain key steps that every software company considering international expansion should take – in addition to hiring a good consultant (and tax advisor, the correct structuring of operations is a beast!) The first thing is to consider what actually is the objective of growth? Are we following customers, seeking to boost growth as...

Unlocking International Markets – watch your steps

The world is changing faster than before, and companies need to adapt quickly. At Strategy&amp;&#8217;s event, keynote speaker Lars-Johan Jarnheimer emphasized that it is now more crucial than ever for companies to get closer to the customer. Strategy&amp; organized a networking event, &#8216;Venturing and Growth,&#8217; at Hotel Kämp in the beginning of  June. The event...

IKEA’s Lars-Johan Jarnheimer: “In the world of algorithms and AI, it is crucial to truly stay close to the customer”

I recently held a workshop on international expansion for a Finnish software company. And as a white, middle-aged male, I hold it self-evident that my opinions (oops, I meant to say evidence-based insights) carry such universal truths that they should be shared with a larger audience. Finland is fortunate to be blessed with a lively...

International expansion for software firms – what do successful families have in common

Have you been in a situation where you needed to make a decision and there was no obvious right or wrong answer – but you had this inner feeling that one choice may be better than the other? Or perhaps you have been in a situation where data and analysis clearly indicated one path over...

Don’t shy away from intuition in strategic decision-making 

strategy-ampersand-transparentwhite-lines-uutishuone

Strategy& ampersand_transparent&white lines_Uutishuone

As part of the PwC network, Strategy& helps clients solve their issues from strategy through to execution. We do that by combining our strategy consulting expertise with the vast capabilities of the network, to help you move your business forward with confidence.

Strategy, made real

Etusivu

Verotus

Johtaminen ja vastuullisuus

Yrittäjyys

Juridiikka

Taloushallinto

Teknologia ja digitaalisuus

Strategy& -topics

Medialle

Tilaa uutiskirje

Strategy&

Strategy&amp; organized a networking event, &#8216;Venturing and Growth,&#8217; at Hotel Kämp in the beginning of  June. The event featured Lars-Johan Jarnheimer, Chairman of IKEA Group and former CEO of Tele2, and Eerik Paasikivi, having multiple board roles at Oras Invest, along with Juuso Laatikainen who is the Practice Leader and Partner at Strategy&amp; Finland. The panel discussion was moderated by Jenna Hakkarainen from Strategy&amp;.
“Stay close to the customer and take the newcomers seriously”
During his presentation, Jarnheimer shared his tips and insights on growing businesses and how to stay agile in the changing world, drawing from his own personal experiences.
Jarnheimer has worked closely with some of Sweden&#8217;s most successful entrepreneurs: Ingvar Kamprad (IKEA), Stefan Persson (H&amp;M), and Jan Stenbeck (Tele2, Metro, Viasat). Nowadays, Jarnheimer serves as the Chairman of the Board in one of the world&#8217;s largest private companies: INGKA Holding, or simply IKEA. 
What do Kamprad, Persson, and Stenbeck have in common? According to Jarnheimer, they have all been extremely interested in the interface between the company and the customer.
&#8220;In the world of algorithms and AI, it is crucial to truly stay close to the customer,&#8221; he emphasized.
Another piece of advice highlighted by Jarnheimer was that it is more important than ever for companies to take newcomer companies seriously, as they often have a much faster customer interaction compared to traditional companies.
“One of the biggest threats to a company&#8217;s success is having too many ‘holy cows’. Even traditional companies must be willing to challenge their established methods and ways of doing things”, he said.
As an example, Jarnheimer mentioned the airline Norwegian, whose innovative business model was initially regarded with arrogance by competitors like Scandinavian Airlines.
&#8220;Today, Norwegian has more airplanes than SAS. Newcomers should always be treated as potential competitors, or else they will run you over.&#8221;
“Don’t change your concept”
Towards the end, the audience participated in a panel discussion and asked, among other things, for the panelists&#8217; perspective on M&amp;A as a tool for value creation. Jarnheimer mentioned TaskRabbit, the for-hire service known for helping people put their furniture together, which IKEA acquired in 2017.
&#8220;Back then, we believed that there were many other players eating into our revenue stream. Especially in lower-income countries, customers don&#8217;t usually assemble their furniture themselves, unlike in Scandinavia.&#8221;
What advice does Jarnheimer have for internationalizing companies? 
“Don&#8217;t change your concept. When entering new countries, there is often advice on how things are done differently there. However, at IKEA, our failures have occurred in the countries where we attempted significant national adjustments,” Jarnheimer said.

IKEA’s Lars-Johan Jarnheimer: “In the world of algorithms and AI, it is crucial to truly stay close to the customer”

IKEA’s Lars-Johan Jarnheimer: “In the world of algorithms and AI, it is crucial to truly stay close to the customer”

Lue lisää

Strategy renewal provides a great opportunity for assessing your culture

Lessons from Companies that Achieve Growth after Cost Programs

Unlocking International Markets – watch your steps

International expansion for software firms – what do successful families have in common

Yhteyshenkilösi PwC:llä

Jenna Hakkarainen

Muut lukivat myös

Strategy renewal provides a great opportunity for assessing your culture

Lessons from Companies that Achieve Growth after Cost Programs

Unlocking International Markets – watch your steps