FOREIGN TRADE UNIVERSITY

-------***-------

EVOLUTION AND REVOLUTION

OF BUSINESS–ASSESSMENT 2

TOPIC: SELECT AND COMPARE 2 COMPANIES FROM DIFFERENT

ERAS USING ANALYTICAL (STEEPLE) TOOLS

Class: F-UON-M7A
Course: Evolution and Revolution
of Business
Lecturer: Hoang Thi Thuy Duong
Student: Truong Hoang Tu Anh
Student ID: 2305002172
Word count: 3757

Hanoi, Vietnam
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IKEA in China v. Zoopla: An Analysis and Comparison Between 7 External Factors

Anh T. Truong

Foreign Trade University

Evolution and Revolution of Business

Duong T. Hoang

May 27, 2024

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TABLE OF CONTENTS

I. Introduction 5
II. STEEPLE Analysis 6
1. Sociocultural Factors 6
1.1. IKEA China: Chinese Urbanization 6
2.1. Zoopla: Internet Search Engines, Digital Transformation, and Social Media 7
2. Technological Factors 8
2.1. IKEA China: Agglomeration Supporting Supply Chain Technological Advancement8
2.2. Zoopla: The Rise of RPPs 9
3. Economic Factors 10
3.1. IKEA China: Economic Boom 10
3.2. Zoopla: Post 2007-08 Financial Crisis Recovery 11
4. Environmental Factors 13
4.1. IKEA China: Limitation in Environmental Regulatory 13
4.2. Zoopla: English Unprecedented Natural Disasters–Floods 13
5. Political Factors 14
5.1. IKEA China: The Open Door Policy 14
5.2. Zoopla: Politically Stable Situation 15
6. Legal Factors 16
6.1. IKEA China: Limitation in IP Protection 16
6.2. Zoopla: Newly Revised Regulations 17
7. Ethical Factors 17
7.1. IKEA Chinese: Business Transparency and Chinese Corruption 17
7.2. Zoopla: The Rise of Green Homes and Sustainability in the Housing Market 18
IX. Discussion 19
1. Comparative Table 19
2. Exemplified Evaluation 21
2.1. Sociocultural Factors 21
2.2. Economic Factors 22
2.3 Legal Factors 22
3. Conclusion 23
X. References
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XI. Discussion 29
1. Process Log 29
1.1. Chronological Plan 29
1.2. Interest in IKEA’s DIY Concept 30
1.3. Experience in Using Online Rental Platforms 30
2. Skills Application 31
Prison-Industrial Complex Report 31
3. Resumé 31
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LIST OF TABLES

Table 1 11
China GDP growth rate compared to the world as a whole.
Table 2 20
Conclusive evaluation regarding IKEA in China v. Zoopla post-applying STEEPLE.

LIST OF CHARTS

Chart 1 8
Global internet traffic trend.
Chart 2 12
The UK had a long-standing, growing productivity gap with other advanced economies.
Chart 3 13
England rental growth.
Chart 4 14
Political stability and absence of violence/terrorism in partial Europe: percentile rank, upper
bound of 90% confidence interval in 2010, 2015, and 2019.
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I. Introduction

Businesses don’t operate in a vacuum–with no adhesive and influential constituents.

Numerous external factors, entirely outside the control of a company, can significantly impact its

day-to-day operations and long-term success. According to Francis Aguilar in 1967, these factors

are grouped into several categories, starting from PEST mnemonic–political, economic, social,

and technological–and later developing to PESTLE and STEEPLE with an addition of

environmental, ethical, and legal factors.

In the 1990s, the furniture industry has witnessed the rise of IKEA, a Swedish

self-assembly furniture brand, to global prominence; they have established in China, the Czech

Republic, Finland, Hungary, Malaysia, Poland, Spain, Taiwan, and the United Arab Emirates

with their so-called “glocal” or “globally local” marketing strategy. Whereas two decades later,

the 2010s have spotted the rise of Zoopla, which stands out as a one-stop, online proptech

platform for tenants and renters; they aim to equip users to buy, sell, or to manage a property

with all the necessary resources throughout the process.

To understand the factors that have contributed to both the business operation of Zoopla,

focusing on England and UK markets particularly, and IKEA, which has narrowed down to

IKEA in China, we will employ the STEEPLE framework, with sociological factors restricted to

sociocultural, in this report in order to delve into the two business practices.
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II. STEEPLE Analysis

1. Sociocultural Factors

1.1. IKEA China: Chinese Urbanization

From 1989 to 1997, China reformed its land-use and land property areas for mass

urbanization and localization (Chaolin Gu et al., 2012). Remarkably, Chen et al. (2010) indicated

that [i]n the long period after 1998, many Chinese policymakers regarded the urban housing

market as the sole and primary source of housing provision and the central dynamic of Chinese

economic growth. In part, public housing policies concerning the demand for housing from

low-income earners and migrants in urban areas [were] ignored, which led to the then urgent

issues of spatial inequality; withal, the late 1990s saw a dramatic rise in housing consumption, a

substantial improvement in the overall housing conditions, and an upsurge in homeownership

throughout urban China (Yu, 2006).

On the one hand, the Chinese urban transformation and housing reformation

single-facetedly had a profound impact on the demand for entering the country, creating a market

for affordable, space-saving furniture solutions, which IKEA excelled at providing. Their

flat-pack furniture and ready-to-self-assembly model were well-suited for the smaller living

spaces common in urban apartments. In contrast, IKEA had to adjust its do-it-yourself (DIY)

concept since the concept was unappreciated amongst their Chinese customers. IKEA Chinese

functionaries commented that the DIY notion had not taken hold in China, where labor was

cheap, so Chinese customers used IKEA’s assembly services more than customers in other

countries.
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2.1. Zoopla: Internet Search Engines, Digital Transformation, and Social Media

Scholars examined social and mobile media phenomena in the 2010s (qtd. in Nielsen &

Ganter, 2017). Nielsen and Ganter (2017) concluded that “The rise of digital intermediaries such

as search engines and social media [was] in the process of changing our media environment. This

development offer[ed] new challenges and opportunities for media users and media organizations

alike.” With social media becoming a global adoption over the past five years, online spaces for

public discourse and interaction (or digital publics) reached a level of inclusivity and reach that

was never possible before (“Social Media and Prediction”). The beneath chart is the evidence

for social media use booming in the 2010s.

Chart 1

Global internet traffic trend.

(Source: Ronald, 2018)

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Online marketplaces revolutionized how consumers shop, from finding electronics on

Amazon to booking vacations on Airbnb. This convenience, however, hadn't fully reached the

business-to-business world, especially in the UK's commercial property sector. While online

platforms like Rightmove thrived in residential property, their commercial counterparts like

LoopNet failed to gain traction. WeWork's later surge, despite its financial woes, highlighted the

power of technology in enhancing customer experience and brand image (Horti et al., 2019).

This has spurred the UK's commercial property industry to play catch-up and embrace online

innovation.

With that being the case, Zoopla integrated a social media feature–Audience

Connect–into its platform, allowing users to share property listings and connect with others

interested in the market. As stated in a blog post, Zoopla claimed, “Insights from our existing

social media marketing solution show that 98% of engaged vendors want to receive an instant

online valuation. Audience Connect provides those engaged vendors exactly with what they

want, pairing a targeted social media marketing campaign with the Zoopla Valuation Tool”

(“Raise Your Brand”). This move increased brand awareness and user engagement.

2. Technological Factors

2.1. IKEA China: Agglomeration Supporting Supply Chain Technological Advancement

The broader context of increased communication and transportation infrastructure

development in China during the period of 1990s did have indirect effects on IKEA operations.

“Quality became the dominant concern in the 1980s. Then, in the late 1980s and early 1990s,

flexibility and delivery–or time-based competition–came to the fore,” Chen et al. (2019)

demonstrated. IKEA adjusted its store location strategy. In Europe and the US, where most
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customers use personal vehicles, IKEA stores [were] usually located in the suburbs. In China,

however, most customers use[d] public transportation. So the company set up its outlets on the

outskirts of cities, which [were] connected by rail and metro networks (“How IKEA Adapted”).

Industrial agglomeration in China had matured into a well-rounded system in the past.

This system encompassed manufacturing, service, and distribution industries, all working

together for a collective advantage. Due to these industries’ concentration, individual companies

could leverage their strengths in specific areas like logistics, procurement, distribution,

manufacturing, or assembly. This concentration simultaneously fostered a strong and

collaborative supply chain network (Chen et al., 2019), which was beneficial for foreign

investors in general and IKEA in particular.

2.2. Zoopla: The Rise of RPPs

The 2010s saw a surge in internet usage and smartphone adoption in England. The

structure of the UK’s private rental sector (PRS) was disrupted by a new series of rental proptech

platforms (RPPs) (Wainwright, 2022). These start-ups adopted technologies, including artificial

intelligence and algorithms, which had drawn upon ever broader datasets to automate and

mediate the relationships between tenants and landlords (Nielsen & Ganter, 2017). These

companies profited from tenants by controlling the rental market through technology in which

RPPs predominantly undertake three mechanisms: (1) tenant data extraction, (2) digital

enclosure, and (3) capital convergence, capturing value, and controlling property in new ways

with the relations mediated through new technology infrastructures (Sadowski, 2019).

The housing market crash 2008 (Srnieck, 2020) fueled the growth of proptech, while

Zoopla had embarked on RPPs since 2007. Zoopla expanded its features, focusing on rental
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listings to cater to this growing segment, making itself an ahead player in the market (Nielsen &

Ganter, 2017). Alex Chesterman, Founder and CEO of Zoopla Property Group, said, “… [W]e

have been working very hard to consolidate all of our brands and partnerships onto a single

technology platform in order to deliver the benefits to our users and members. We have taken the

best-in-class features and tools we offer to our users and members and combined these in order

to ensure that we are the most useful online resource for property consumers and most effective

marketing partner for property advertisers in the UK” (“Zoopla Property Group”).

3. Economic Factors

3.1. IKEA China: Economic Boom

The entry of China into the WTO led the country to undergo the transition from a

planning economy to a market economy (Cheancharadpong & Chaletanone, 2008), making it one

of the fastest-growing economies in the 1980s and 1990s. The rapid growth in China is related to

its relentless (but not necessarily consistent) pursuit of economic reform, which has unleashed

productive forces previously suppressed by rigid central planning (Wei, 1995). Refer to the table

further down:

Table 1

China GDP growth rate compared to the world as a whole.

Year China GDP Growth Rate World GDP Growth Rate

1978-1992 (average) 9.5% 3.1%

1992 12.6% 2%

(Source: World Bank Open Data)

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The main problem for IKEA was that its prices, considered low in Europe and the US,

were higher than the average in China (“How IKEA Adapted”). Therefore, this economic boom

exploitedly aided IKEA whose furniture was even more accessible to the growing, young middle

class as their strategy was specifically aiming at this group of consumers (“Case Study: IKEA”).

3.2. Zoopla: Post 2007-08 Financial Crisis Recovery

The 2010s in England were marked by economic recovery from the 2008 financial crisis,

followed by a period of relative stagnation (Bell et al., 2022), seeing the proof for UK stagnation

beneath:

Chart 2

The UK had a long-standing, growing productivity gap with other advanced economies.

(Source: Analysis of OECD, GDP per capita and productivity growth.)

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Though in general, unemployment in the UK climbed to 8% in early 2010 from 5.1% in

early 2008 (Smith & Elsby, 2010), the relatively small increase of 2.9% included

self-employment, which went up both in the 1980s and again in the 2010s. Still, the timeliness

and accuracy of statistics on the number of self-employed workers and their earnings struggled to

keep up with the others (Bean, 2016), leading to several economic outcomes, particularly in the

real estate sector. Despite intense campaigning by housing charities and constituents queuing at

the surgeries of Members of Parliament, there were still 4 million homes in short supply. 1.2

million people were homeless or stuck on government waiting lists (Colenutt, 2020).

While there wasn't a specific study regarding the relation between the recovery of

England and the rented housing sector, Zoopla likely still benefited as the demand for rental

properties escalated. The chart below illustrates this fact:

Chart 3

England rental growth.

(Source: Savills Blog)

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4. Environmental Factors

4.1. IKEA China: Limitation in Environmental Regulatory

During the mid-1990s, the limitation in environmental regulations had a subtle influence

on IKEA’s operations; the annual economic cost of air and water pollution was estimated as

being between 24 and 54 billion U.S. dollars, approximately 3.5 and 7.7 percent, respectively, of

China’s gross domestic product (World Bank, 1997, p. 23).

Editor from Business Today magazine signified as following:

The China expansion came at a cost. Since 1999, IKEA has [sic] been working on

becoming more eco-friendly. It has [sic] been charging for plastic bags, asking suppliers

for green products, and increasing the use of renewable energy in its stores. All this did

not prove easy to implement in China. Price-sensitive Chinese consumers seem [sic] to be

annoyed when asked to pay extra for plastic bags, and they did not want to bring their

own shopping bags. Also, a majority of suppliers in China did not have the necessary

technologies to provide green products that met IKEA’s standards. Helping them adopt

new technologies meant higher costs, which would hurt [the] business. (“How IKEA

Adapt”)

As such, IKEA decided to stick with its pronounced low prices to remain in business

within the Chinese market.

4.2. Zoopla: English Unprecedented Natural Disasters–Floods

Hannaford et al. (2021) synthesized three major floods happened in England chronically:
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● In the winter of 2013–2014, sustained flooding affected large areas of the UK and

caused severe impacts in southern England.

● The winter of 2015–2016 saw record-breaking floods in northwest Britain, where the

highest daily rainfall for the UK and new peak river flow maxima for England were

recorded on several rivers.

● The summer of 2019 also saw more localized but dramatic flooding in northern and

central England, notably Yorkshire and Lincolnshire. (p. 700)

The floods and national disasters in England impacted Zoopla–affecting user search

behavior and property values in flood-prone areas. Zoopla was forced to adjust its search

functionalities to allow users to filter by flood risk or incorporate warnings about potential flood

risks in certain locations (“How to Check”).

5. Political Factors

5.1. IKEA China: The Open Door Policy

Continuing Deng Xiaoping’s initiative in 1978, in the 1990s, China’s “Open Door Policy”

marked a barrier dismantling that previously restricted foreign companies from entering the

Chinese market. According to Wei (1995), a few steps was made to support this effort:

● More local control: The government gave local authorities more power to decide on

imports and exports.

● Special economic zones: Specific areas were created to encourage exports and attract

foreign businesses.
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● Focus on trade tools: Regulations were replaced with tariffs, quotas, and licenses for

managing trade.

● Easier foreign exchange: Foreign-invested companies gained more freedom to

manage their currency.

Hence, its gigantic market of potential customers attracted prominent foreign investors

(Li & Li, 1999) like IKEA. Concludingly, Cheancharadpong & Chaletanone (2008) analyzed the

aforementioned points below:

IKEA chose joint venture as an entry mode in China due to the policy of Chinese

government to encourage foreign companies to join with Chinese companies (Li, 2007).

This strategy minimizes [sic] financial risk and enables IKEA to handle with distant

market (Evans et al, 2000). Moreover, joint venture provides [sic] IKEA a great

opportunity to build partner and relationship with suppliers in China and make China

became one of important supply center of IKEA in Asia (Carpell, 2006). (p. 39)

5.2. Zoopla: Politically Stable Situation

According to a book on sustainable residential investing, the political will to solve the

housing crisis is one factor affecting housing market investors (Harper, 2022). Yet, there are no

specific, stirring political factors that have a direct effect on Zoopla and its business operation,

which equally represent a stable political situation between the UK and other nations within the

2010s period in the bargain. Seeing the chart underneath for a better elaboration:
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Chart 4

Political stability and absence of violence/terrorism in partial Europe: percentile rank, upper

bound of 90% confidence interval in 2010, 2015, and 2019.

(Source: World Bank)

6. Legal Factors

6.1. IKEA China: Limitation in IP Protection

IKEA faced limitations in Intellectual Property (IP) Protection in China in the 1990s.

China’s IP laws were less robust in the 1990s than today. This meant IKEA faced challenges

protecting its product designs from being copied by local manufacturers (Mercurio, 2012).
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The company use[d] its product catalog as a significant marketing tool in most markets.

In China, however, the catalog provided opportunities for competitors to imitate the company’s

products. Indeed, local competitors copied IKEA’s designs and then offered similar products at

lower prices. IKEA decided not to react, as it realized Chinese laws were not strong enough to

deter such activities. Instead, the company is using Chinese media to target the urban youth

(“How IKEA Adapted”).

6.2. Zoopla: Newly Revised Regulations

In the 2010s, England witnessed several updates regarding government regulations,

namely the Privacy and Electronic Communications Regulations (updated in 2011): These

regulations governed how companies can use consumer data for marketing purposes (“The

Privacy and Electronic”). Zoopla likely needed to obtain explicit consent from users before

sending marketing emails or sharing data with third parties.

Not to mention, various regulations emerged into Digital Ads Law during the 2010s

regarding online advertising transparency and consumer protection were designed to ensure that

all advertisements are honest, decent, and truthful (“Legal Guidelines for”). Zoopla, likely

relying on advertising revenue, would have needed to ensure ads were clearly labeled and did not

mislead users.

7. Ethical Factors

7.1. IKEA Chinese: Business Transparency and Chinese Corruption

According to Andrew Wedeman (2012), in 1995, Transparency International (TI) ranked

China the fourth most corrupt country in its Corruption Perceptions Index. On a scale of 1 to 10,
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with ten as the most corrupt, corruption in China reached 7.57. These numbers corroborated

transparency in business dealings that were not as strong in China during the 1990s, in which

IKEA had to deal with difficulties ensuring ethical practices throughout its supply chain,

potentially leading to concerns about bribery or unfair business practices.

The first two central pieces of legislation were the 1992 Trade Union Law and 1995

Labour Law, which established the fundamental rights of workers to be paid in full and on time,

receive overtime payments and paid leave, and, crucially, to be represented by a trade union

(n.d., 2014). Despite all that, the failure of the All-China Federation of Trade Unions to

effectively represent workers led to workers taking collective action to defend their rights and

interests. Amid several protests, IKEA earned profitably from others’ reputational risk due to its

core of emphasizing fair labor practices.

7.2. Zoopla: The Rise of Green Homes and Sustainability in the Housing Market

Green residential architecture is reviewed considering the green movement from the

1950s to 2010s, describing and evaluating the most relevant housing projects that integrate an

energy systems approach to reduced demand, renewable energy supply, and energy storage

(Bassas et al., 2020).

During the period from 2010 to 2019, the UK government introduced a stricter Energy

Efficiency Obligation (ECO) for rental properties during the 2010s. The policy focused on three

main goals: (1) security, (2) affordability, and (3) decarbonization–also known as the energy

trilemma (“Energy Policy”). There were energy efficiency requirements that must be met: An

energy assessor was required to provide an energy performance certificate when a building was
 Truong - 20

constructed or renovated; landlords listing properties would have needed to display energy

performance certificates (EPCs) (Hinson & Bolton, 2020).

As per the explanation above, Zoopla had to ensure compliance with these regulations in

their listings and additionally responded to the trend of green homes by adding filters or

promoting listings that catered to eco-friendly properties.

IX. Discussion

1. Comparative Table

Table 2

Conclusive Evaluation regarding IKEA in China v. Zoopla Post-applying STEEPLE.

Company (Era) External Factors Brief Evaluation

Sociocultural

IKEA China (1990s) ● Profited from Chinese urbanization.

Both earned benefits
and adjusted to fit the
● Profited from the rise of Internet and social culture and social
media use. trends.
Zoopla (2010s)
● Adapted and added Audience Connect social
media feature.

Technological

● Profited from Chinese industrial development

and supply chain.
IKEA China (1990s) ● Adjusted its store location strategy close to
public transportation networks Both earned benefits
and were ahead players
jumping into the new
● Profited from the rise of online search engines market.
Zoopla (2010s) and technological algorithms.
● An ahead player of the RPPs.
 Truong - 21

Company (Era) External Factors Brief Evaluation

Economics

● Profited from the Chinese economic boom and

currency exchange rate.
IKEA China (1990s) ● Adjusted its brand and strategy aiming at
middle-class customers. Both earned benefits
despite different
circumstances.
● Profited from people returning to real estate
Zoopla (2010s)
and high demand for housing properties.

Environmental

● Faced disadvantages to stay eco-friendly in

China.
IKEA China (1990s) ● Had to stick with low prices to remain
cost-effective. Both faced different
disadvantages relating
to the environment and
● Faced numerous record-breaking floods in
responded differently.
England.
Zoopla (2010s) ● Adjusted its rent listing filter by adding a flood
map.

Political

● Profited from the Open Door Policy and currency

IKEA China (1990s) exchange rate. While IKEA benefited
● Adjusted and joined the market via joint venture. from China opening for
foreign investment,
Zoopla wasn't affected
by any political factors.
Zoopla (2010s) ● No specific politics affected Zoopla operation.

Legal

● Faced disadvantage of Limited IP Protection.

IKEA China (1990s) ● Adjusted marketing from catalog to media.
Both faced legal
situations relating to
● Faced newly-revised regulations in the UK. technological
● Ensured transparency contents on ads and user advancement.
Zoopla (2010s)
consents.
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Company (Era) External Factors Brief Evaluation

Ethical

● Faced difficulties with business transparency and

IKEA China (1990s) corruption in China.
● Practiced fair labor.
Both faced unalike
difficulties and
● Faced the rise of green homes and ECO adjusted practices to
regulations. lodge ethically.
Zoopla (2010s) ● Ensured compliance by displaying EPCs,
adjusted, and promoted via eco-friendly filter.

2. Exemplified Evaluation
Both IKEA and Zoopla demonstrated each's adaptability and responsiveness to external

factors distinctively. Here are illustrations using sociocultural, economic, and legal factors as

determinants to distinguish.

2.1. Sociocultural Factors

Although both witnessed a sharp rise in demand relating to housing, the focuses of the

two societies with incompatible cultural preferences and mismatched socio-technological

backgrounds were understandably different.

IKEA benefited from the absolute timing of the rise of urbanization and the high demand

for housing in China, which allowed it to enter this new market and offer quick,

ready-to-assemble, and affordable furniture. Although self-assembly wasn't an appreciated

concept, IKEA added an exceptional service of assembly in order to fit the preferences of

Chinese people. Whereas, Zoopla had foreseen the rise of social media and become one of the

UK's first RPPs prior to the peak of demand for proptech and the private estate sector. From
 Truong - 23

2010 to 2019, Zoopla had already gained a reputation; thus, amid the rise of social media, Zoopla

only needed to catch up via the action of adding a social media sharing feature on its website.

2.2. Economic Factors

Although both were proven to profit from the economy during the analyzed eras (the

1990s and 2010s) in the chosen regions (China and the UK), the two businesses still had to

handle differently due to dissimilar circumstances.

IKEA benefited from the economic boom: Despite currency exchange making IKEA

products relatively expensive for Chinese people, the economic boom served many low-income

who then engaged in society as middle-classes, which IKEA targeted explicitly. The rise of the

middle class in China made IKEA purchases remain affordable after translating prices. In

contrast, Zoopla, though it didn't have to deal with post-crisis stagnation directly, operated during

the global financial recession of 2007 and 2008. When England and the UK entered the period of

recovery, and people returned to the rental properties sector, Zoopla profited from the attention

paid to the technological utilization of the private sector and people's feeling more comfortable

about this new proptech renting.

2.3 Legal Factors

In 10-20 years apart, Zoopla and IKEA were put in different legal situations regarding

technological development.

For IKEA, it purveyed in the era when technologies, especially websites and social

media, were under-developed, leading to several outcomes in which one was relating precisely to

the limitation in intellectual property protection. IKEA designs ended up being copied by local
 Truong - 24

Chinese manufacturers; notwithstanding, the Swedish furniture company, yet, still earned

benefits by adjusting its marketing strategies from using catalogs to promoting on media.

For Zoopla, it set off in an era where technologies and software development were nearly

advanced, leading to the implementation of numbers of regulations by governmental legislation.

Therefore, the proptech site needed to persist in remaining in compliance with the data protection

and ads transparency laws in which Zoopla was obliged to ask for user consent about providing

data on its website and using ads that didn't contain any misleading information.

3. Conclusion

IKEA China and Zoopla, despite facing similar issues like economic ups and downs, new

regulations, and sociocultural challenges, tackled them in a variety of resolutions. These

contrasting approaches reflect how the housing industry was responsive and proactive to external

factors occurring during the 1990s and 2000s.

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XI. Discussion

1. Process Log

1.1. Chronological Plan

In order to plan for this report, I’ve to gather the information needed for a more fluent

analysis. First and foremost, I’ve done my own research on the chosen companies and answer

two necessary questions:

1. What are they?

2. What do they do?

Secondly, I seek help from AI tools to narrow my research scope regarding the STEEPLE

factors. For illustration, I’ve asked Gemini, “Which sociocultural factors in China from 1990 to

1999 were significantly affecting IKEA’s business operation?” and received a few in response:

● Urbanization and growing middle class

● Traditional values and collectivism

● Cultural significance of home ownership

● Limited familiarity with DIY

Following up, I gather studies containing the aforementioned keywords via reliable

sources:

● Online database: JSTOR, EBSCOhost, etc.

● Academic journals available on Google Scholar.

● Reputable press and publications with the domain of .gov, .org, or .edu.
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● Company websites.

I repeatedly continue the same process with the other factors for the two companies.

Drawing from these varied sources makes my report progress noticeably quicker and more

efficient.

1.2. Interest in IKEA’s DIY Concept

I first came to the United States in January 2017, and after picking me up from the

airport, my host parent took me to IKEA to choose furniture for my bedroom. As a later

engineering student, I was invested in assembling the products myself; not to mention, after

graduating from high school and moving out to my rental condor, all my furniture was literally

from IKEA self-assembled. Hence, I became familiar with the company by reading a few reports

on the IKEA website in my free time. My leisure interest has helped information and sources

relating to IKEA business practices become more accessible.

1.3. Experience in Using Online Rental Platforms

As I studied in three different colleges, one of which was in a different state (Lexington,

Virginia), I had to look for short-term rent on Airbnb or similar proptech websites to support my

visit for school events. I also traveled a lot for school projects at University of Kansas and for

going to overseas concerts with my friends; thus, rental platforms, in general, could not be more

familiar. Although I had never used Zoopla directly, its concept is still amicable to reach out.

2. Skills Application

Throughout my educational journey, my focus has primarily been researching rocket

propulsion and engines, which means this STEEPLE report is one of my first two analyzing
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essays in the business field despite the fact that I have a good grip on evaluating and analyzing

data.

Prior to this report, I have done another one regarding the prison-industrial complex and

the business behind the mass incarceration of the US while attending William Jewell College.

The research has not only required skills in data collection and critical thinking and analysis but

also required high academic writing skills–including writing an annotated bibliography for the

references I’ve used, finding sources, and formatting and in-text citing in the essay–which I’ve

entirely applied in this final assignment.

Moreover, I’ve gained more knowledge in terms of marketing as I’ve worked as an

account planner at AZS Agency for half of the year. The comprehensive reading relating to

IKEA and Zoopla's strategies when it comes to the effect of external factors isn’t a problem.

3. Resumé
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Anh “Jinny” Truong

7403 Charle St, Shawnee, Kansas City, KS 66216
+1 (913) 710 1532 | anh.truong@kansaschristian.edu
PROFILE
Confident and ambitious student from the capital of Vietnam who attended high school in the States.
Strongly embraced into the academic environment as an [spacecrafts] assistant researcher. Looking for an
impressive program in Marketing to self-improve all-roundedly.

ACADEMIC ACHIEVEMENT
Salutatorian, Overland Christian Schools, Overland Park, KS 66204 Jan 2020 – May 2022
GPA: Final: 4.36/4.00 Duolingo English Test: 120/160
ACT: 35/36 ACT Superscore: 36/36
APs, Art History: 5/5 Computer Science Principles: 5/5
United States History: 5/5 Precalculus: 5/5
Physics 1: 5/5 Physics 2: 5/5
Physics C: 4/5 Physics C: 5/5.
Honors, Psychology: 99.96/100.00
Other Education Institutes Aug 2022 – May 2023
B.S in Aerospace Engineering, University of Kansas, Lawrence, KS 66045
B.A in Mathematics major and Mass Communication minor, Washington and Lee University,
Lexington, VA 24450
Oxbridge Honors of Institutions and Policy, William Jewell College, Liberty, MO 64068
B.A (Hons) in Marketing Management, University of Northampton Aug 2023 – Now

WORK EXPERIENCE
Assistant Researcher
MIT Wallace Astrophysical Observatory, Westford, MA 01886 Sep 2021 – Jan 2023
● Denote 500+ changes regarding sky and space observation statistics and data.
● Collect and analyze 1,000+ space data timely.
Marketing Planner
AZS Agency, Hanoi, Vietnam 11300 Dec 2023 – Now
● Manage social media platforms and increase viewership by 12% on Facebook and Instagram.
● Arrange monthly plans of marketing campaigns which increase consumer interaction by the highest
of 37%.

EXTRACURRICULAR ACTIVITIES
International Representative Sep 2020 – May 2022
Student Senate, Overland Christian Schools, Overland Park, KS 66204.
● Denote 5+students’ difficulties everyday, receive different opinions, and speak to the office. Take
care and make sure that everybody feels comfortable using school infrastructure.
● With other officers, in charge of planning and preparing surprises for students on 7 different cultural
holidays in their mother countries.

SKILLS
● Computer: Secondary knowledge in Excel, Microsoft Office, Photoshop, and Illustrator.
● Language: Vietnamese (native proficiency), English (full professional proficiency), Korean
(elementary proficiency), and Chinese (elementary proficiency).
● Communicative ASL knowledge.