Throughout the history of the world, one crucial aspect that has remained vital in enhancing mankind’s wellbeing is his constant desire to change his surrounding by being innovative. The world has seen thousands of different inventions which have significantly transformed the world to what it is today. The quality of life has been improved and individuals, more than any period before, have become more dependent on each other. Take technology, for instance, the invention of computers and high-speed internet services has eased the manner in which individuals do business. However, such inventions and development agendas can only be taken when individual take the bold step of risking what they have to achieve a higher payoff in the future and being philanthropic to give back to the society. One such great risk taker and renowned global philanthropist was Ingvar Kamprad.

Feodor Ingvar Kamprad was a Swedish business magnate born in 30^th March 1926. He is best known for the establishment of the IKEA, an international retail company that specializes in the manufacture and distribution of quality furniture across the globe. Ingvar Kamprad was born in Kronobergs Ian in Smaland, Sweden to a Swedish mother, Berta Nilsson, and a German father, Feodor Kamprad (Tikkanen, 2018). Despite the humble family background during his early childhood, the family became wealthy estate owners in the 19^th century after investing for several years in the real estate sector. Ingvar Kamprad attended the Goteborg hadelinstittute from 1943 to 1945 where he gained his knowledge in business studies.

When he was five years of age, he started selling matches (Alves. 2018). Two years later, he realized that he could buy matches in bulk at a cheaper price and sell them individually to his customers. He, therefore, began traveling for a longer distance using his bicycle to sell the matches. Kamprad then expanded his business to include other essential goods like fish, seeds, ballpoint pen, and Christmas tree decorations. After excelling in his studies at the age of 17, Kamprad founded the IKEA with the cash reward his father gave him for succeeding in school. Kamprad’s company name, IKEA, are the initials of his last two names, Ingvar Kamprad and his family farm Elmataryd, where he was born. Kamprad had two wives. He married his first wife, Kerstin Waddling in 1950 but divorced her ten years later. In 1963, Kamprad married Margaretha Stennert with whom he had four children.

During the first two years of the company operations, Kamprad relied on milk trucks to deliver most of his goods to customers. He bought the furniture from local manufacturers and later selling them individually to his customers at an affordable price. Later, he developed the idea of the flat pack which has remained one important transportation channel used by many companies and business people to move their goods from one place to another. Through his exemplary leadership and managerial skills, Kamprad IKEA expanded rapidly both in Sweden and other foreign countries like Norway, Germany, Denmark, the Middle East, and even the US. Today, the company proud of the fact that it serves over 35 different countries with over 300 stores (Loundenback, 2018). After almost seventy years as the head of IKEA board, Kamprad finally stepped down in 2013 and was replaced by his youngest son, Mathias Kamprad.

Ingvar Kamprad is perceived as a successful innovator and a leader because of the success he brought in his company. From a teenage age of 17 years, Kamprad founded and managed a small business which later developed in a renowned multinational company employing thousands of people across the globe. He is also famous for his quote on the usage of time which states that “We should all divide our lives into 10-minute units, and sacrifice as few of them as possible in meaningless activity.” His actions and thoughts during his early life were influenced majorly by Per Engdahl, a Swedish activist that played a significant role in the New Swedish Movement where Kamprad was also a member. Ingvar Kamprad, however, succumbed to death on 27^th January 2017 at the age of 91. At a time of his death, Kamprad was one of the wealthiest people in the world, with a net worth of $58.7 billion.

References

Alves G. (2018). 5 fun facts about IKEA’s founder, Ingvar Kamprad. The Economic Times. Retrieved 22^nd January 2019 fromhttps://economictimes.indiatimes.com/magazines/panache/5-fun-facts-about-ikeas-founder-ingvar-kamprad/articleshow/62784543.cms.

Loundenback T. (2018). How IKEA founder Ingvar Kamprad’s bizarrely frugal habits and ‘disagreeable’ personality trait made him one of the richest self-made billionaires. Business Insider. Retrieved 22^nd January 2019 from https://www.businessinsider.com/how-ikea-founder-ingvar-kamprad-became-a-billionaire-2015-7?IR=T.

Tikkanen A. (2018). Ingvar Kamprad. Encyclopedia Britannica. Retrieved 22^nd January 2019 from https://www.britannica.com/biography/Ingvar-Kamprad.

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