The final pitch session of the International Economics for IKEA took place

12:22, December 22, 2021

28 teams developed super-creative and analytical closed-loop models

The guys thought over all the components for the real implementation of their idea in the company's business processes - the mechanism for creating a new closed cycle, technical features, timeline, financial and economic justification of the implementation, assessed stakeholders as well as thought out marketing strategies to raise awareness and promote sustainable thinking among customers, employees and among the residents of the region.

 IKEA Yekaterinburg Store Manager, Kaan Salli, shared:

"We collaborate and co-create not only with IKEA colleagues, but also with suppliers, partners and customers to add value, creating a better life for more of the many. The IEB students of GSEM UrFU are yet another perfect opportunity for us, to learn, to unlearn, to question our ways of working and to improve them together. They have one of the best education, they are willing and most importantly they're able”

The students developed circular projects related to the recycling of plastic, household gloves, paper, glass, textiles, revealed what new products could be produced and introduced into the store assortment, estimated the prospect of installing fandomats, and even designed the launch of special eco-apps.

Josef Hudy, VŠB - Technická univerzita Ostrava:

“I appreciate the possibility offered to us, students and I'm sure most of us got a new outlook at creating business concepts which IKEA can take in the field of sustainability. Moreover, we were given a valuable contribution by specialists for sustainable development and a circular economy. I expect to use that information in my future work. I found the project interesting, meaningful and extraordinary, considering also the intercultural communication we had to get through in my team”

Each project has been thoroughly assessed in several stages according to various criteria. Daria Nabokova, Sustainable Development Manager, IKEA Yekaterinburg, shared the details:

“The team of the IKEA Yekaterinburg store, which evaluated students' projects in closed cycles, consisted of 45 employees from different departments, such as: Sales, Marketing, Customer Relations, Interior Design, Sales and Supply Support, Catering, Logistics. The evaluation criteria were as follows: creativity and novelty, structure, detailed elaboration and presentation of the project. Based on the results of voting and the final pitches, projects were selected that we will implement in IKEA's business processes. Evaluating projects was challenging as all the teams were creative and had interesting ideas. In my opinion, each of the proposed projects will ever be implemented in the future. Already today, we have transformed many business processes in order to have a positive impact on the climate and society. At IKEA, we believe that many companies can grow in accordance with a sustainable development strategy and the principles of a circular economy. Our planet is our common home, only together we can make it clean, comfortable and safe”

Congratulations to the winners of the project activity within the framework of the Autumn School:

1st place - Team 3 Valentin Voitenkov, Igor Chekhomov, Nikolay Belchikov, Mikhail Mamykin, Roman Akhmineev and Lilit Danielyan (4th year students of the programme)

2nd place - Team 12 Maria Chumachenkova, Alexandra Grigorieva, Polina Malakhova, Igor Khitrov (4th year students)

3rd place - Team 9 Maxim Sokolov, Yulia Gurenko, Maxim Pustuev, Anatoly Kolchurin, Evgenia Petrova, Snezhana Evstraeva (2nd year students)

The winning team shared their impressions:

“We would like to express our gratitude to the International Economics and Business programme and IKEA for the opportunity to take part in the event within the framework of the Autumn School. Taking into account current trends and the relevance of the topic of sustainable development, we emphasize the importance of such events. We are delighted to experience the culture of one of the largest international companies in its industry. An interesting case allowed us to apply our knowledge and skills in launching business projects”

Maxim Sokolov, 2nd year student, added:

“The policy of the IKEA company, their principles are very interesting and modern, because they touch on many global issues. It was interesting to think and try to offer an idea related directly to the IT component of the company. We can try to develop the proposed function further, linking it with the blockchain. This is really cool! People will have both a direct motivation to help the planet and their own, to get a unique opportunity to pay with a fictitious coin, which is quoted as currency in IKEA stores and partners. Summing up, it was interesting! Many thanks to Daria Nabokova and the entire IKEA team for their active participation in developing the right ideas in the minds of us - young students. Still, who, if not us, can fix something ”

We would like to note two more teams that received the People's Choice Award. Representatives of the IKEA Yekaterinburg store awarded Team 27 (Nikita Skryabin, Vladimir Stebkov, Danil Toptygin and Elena Sahakyan, 2nd year students of the IEB programme), and the professors of the "Corporate Social Responsibility" course - Zhanna Belyaeva, GSEM Academic Director, BA International Economics and Business Programme director, and Yana Lopatkova, Assistant Lecturer, Assistant Director of BA International Economics and Business for Corporate Affairs, noted Team 8 (Matvey Vasheka, Ulyana Bogdanova, Polina Kosterina, Ekaterina Frolova, Ekaterina Dzyuba and Lev Kolchin, 2nd year students) for the detailed elaboration of the idea, structured and well-coordinated presentation from an academic point of view.

The International Economics and Business programme office expresses gratitude to the IKEA company, as well as special thanks to Store manager, Kaan Salli for contribution to the programme development and Daria Nabokova for inspiring trainings and assessment of the guys' ideas.