Every house, apartment and dormitory will often require a piece of furniture. An important way to stay competitive in this market is to be competitive on price without sacrificing quality; thereby maintaining a cost leadership position over all competitors. In fact, becoming a cost leader would give a company like Ikea a competitive cost advantage and add customer value efficiently and sustainably over its competitors (Heizer and Render, 2014). How to become a cost leader? For Ikea, it started with frugal beginnings and hasn't looked back since. In fact, according to Hirst (2014), “the name Ikea is an acronym derived from Ingvar Kamprad's first letters, Elmtaryd – the farm where he grew up and Agunnaryd – the small town next door (para. 8). Ikea didn't become cost conscious, it was born that way. In fact, Hirst went on to state that Kamprad was famous for his frugality: he never traveled first class or on a private jet, although he could afford to buy a fleet of them. Kamprad could afford to buy just about anything he wants, but he is said to often still clip