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Table of Contents INTRODUCTION 3 BACKGROUND (ENTERPRENUR & BUSINESS) 3 REASON BEHIND SUCCESS 5 LITERATURE REVIEW 7 CONCLUSION 7 REFERENCE LIST 8

INTRODUCTION According to Richard Branson (2000) innovative business is one that live and breathes in out of box thinking and its not just good idea but combination of good ideas and motivated staff and good understanding of customer wants and needs. (Tidd et.al. , 2005) When we talk about IKEA , we start thinking of words like innovative furnishing , cheap , great quality , modern , good store . Ikea has been able to bring a cultural shift how furniture is purchased and who buys the furniture i.e. now middle income families and younger generation are also buying modern furniture as its cheap. Ikea is prime example of out of box innovation as they introduced things like flat pack furniture , furniture catalog , particle board furniture , restaurant in furniture store , and store layout ( ikea maze) where customers travel to all the departments of the store making people imaging their future homes which have previously never done by furniture store as only traditional furniture store were there with their expensive needed to be custom made. Main purpose of the report understand how innovation leads and supports entrepreneurship. This report also give brief history and knowledge of Ingvar Kamprad : the father of modern furnishing and how his idea caused the cultural shift in todays society and also factors leading to the success of his idea and how academic literature defines his success.
BACKGROUND (ENTERPRENUR & BUSINESS) Ingvar Kamprad was born on in south Sweden in 1926 and raised in a farm called Elmtardy near the village of Agunnaryd. According to Cantillon (1734)