Case Study The Lego Company - 1715 Words

Michael Stelmach Case Study 1 - Lego Professor Kannenberg February 2, 2017 The LEGO Company was founded in 1932 by Ole Kirk Kristiansen and is the leading play material toy manufacturer in the world among all other toy manufacturers. Their success is based off of the development and innovations of learning and building through play. LEGO values imagination, creativity, fun, learning, caring, and quality with the spirit that only the best is good enough. They hold four promises to their customers and company; promise play of the joy of building and creating, the promise to positively impact the planet, partner promise as mutually valuing creation, and the people promise of succeeding together. They aspire to globalize and innovate by†¦show more content†¦Since Knudstorp stepped in, LEGO has been inspired to help develop the new builders of tomorrow. From the LEGO website their mission statement says, â€Å"Our ultimate purpose is to inspire and develop children to think creatively, reason systematically and release their potential to shape their o wn future - experiencing the endless human possibility.† LEGO also has a vision that is critical and builds from their mission statement saying, â€Å"We want to pioneer new ways of playing, play materials and the business models of play - leveraging globalization and digitalization. It is not just about products, it is about realizing the human possibility.† From these two statements, we can infer that LEGO wants to ‘Inspire and develop the builders of tomorrow’ and ‘Invent the future of play’ for every one that enjoys playing with LEGO’s. They have certainly inspired many developments such as opening up theme parks, stores, continued growth around the world, and having large events for fanatics to come play, build, and watch, and see LEGO built creations that are technical and time consuming. In essence to the LEGO Company’s strategies comes many objectives that consists of meeting the needs of their consumers. The following is various objectives that they have set out for themselves to obtain their goals: †¢ The vision to nurture every child and the child within themselves. This is an everlasting vision for themselves that they use to stay true toShow MoreRelatedA Lego Case Study : How Did The Company Adapt Into An Ever Changing World?1523 Words   |  7 Pages(Working Title) A LEGO Case Study: How did the Company Adapt in an Ever Changing World? By Steven Eyles Today the brand of LEGO seems to be as ever expanding as the product itself, but with a life span of just over 82 years the company must have had to adapt and change in this ever expanding world. Even just over the past 20 years things have moved on so rapidly especially in terms of technology. 20 years ago the first full-length animated film was a year away from the cinema (Toy Story: USA releaseRead MoreLego Case Study Essay1245 Words   |  5 PagesRishab Singhvi LEGO CASE STUDY Discussion Question: Q.1: How did the information systems and the organization design changes implemented by knudstorp align with the changes in business strategy? Advances in the field of information technology and introduction of new hi-tech form of entertainment such as tablets and gaming consoles had left Lego trailing in the entertainment field. Jorgen Vig Knudstorp was appointed as the CEO to revamp the company’s business process, organization structure andRead MoreE Business : The Origin Of Electronic Business1384 Words   |  6 Pages10). According to Combe (2006), he has claimed that â€Å"Electronic business (e-business) can be defined as the use of the internet to network and empower business processes, electronic commerce, organizational communication and collaboration within a company and with its customers, suppliers, and other stakeholders.† With the rapid development of information and communications technology (ICT) in recent years, the gap between traditional market and e-market has been narrowed and the use of Internet hasRead MoreThe Lego Group Analysis1615 Words   |  7 PagesBUSI 1484 – Managing St rategy Portfolio 1 The LEGO Group Analysis June 26, 2013 Word count: 1,517 Table of contents Title | Page | 1. Application of the PESTEL analysis | 3 | 2. Application of the Porter’s Five Forces Analysis | 4 | 3. Application of the TOWS Matrix | 6 | 4. Conclusions | 7 | 5. Figure | 8 | 6. References | 8 | In this assignment the LEGO Group are examined by using a PESTEL analysis (Turner, S., 2002,), Porter’s Five Forces framework andRead MoreBrief Summary Of The Lego Company849 Words   |  4 PagesBrief Summary of the Lego Case The Lego Company, was founded in 1916, by Ole Kirk Christiansen in Billund, Denmark. The company quickly expanded, producing double-digit sales. Then, with the development of social media Lego appeared to hit a brick wall when faced with the challenge of how to market their Lego Bricks on the social web. Jack McKee, a former social media practitioner at Lego, â€Å"was able to help change the culture within the organization, so they could use the social web to build relationshipsRead MoreBrief Summary Of The Lego Company849 Words   |  4 PagesBrief Summary of the Lego Case The Lego Company was founded in 1916, by Ole Kirk Christiansen in Billund, Denmark. The company quickly expanded producing double-digit sales. Then, with the development of social media Lego appeared to hit a brick wall when faced with the challenge of how to market their Lego Bricks on the social web. Then, Jack Mckee, at former social media practioner at Lego, â€Å"was able to help change the culture within the organization, so they could use the social web to buildRead More2) Which of the Generic Strategies Does Lego Appear to Be Using Based on This Case? Provide Support of Your Choice.1555 Words   |  7 Pagesalign with the changes in business strategy? When Knudstorp became the CEO, the company was with negative cash flow and the real risk o which would have even led to a breakup of the company. There was the change in the business strategy in the company that was brought up by the new CEO. The strategy was to survive, cut costs, sell businesses, generate cash and ignore the dash for the growth in the immediate future. Lego was known for the traditional blocks and components that will allow children toRead MoreProduct Management and Lego1313 Words   |  6 PagesLego Case Study for ISM class 5014 How did the information systems and organization diging changes implemented by Knundstorp align with the changes in business strategy. The Lego Cast Study is about how the toy company has been affected by the rapid and vast change in the way children play with toys and their preference of the same. Historically, Lego’s have been a top rated toy for children and when that quickly changed Lego was not expecting it and furthermore not prepared. The company beganRead MoreThe Case Of Lego : Change Of Strategy1171 Words   |  5 Pages 3. THE CASE OF LEGO CHANGE OF STRATEGY The company LEGO (Appendix 1), was far from the reality when in the year 2000 the famous Bricks were named as ‘the toy of the century’ by Fortune Magazine. the numbers were reflecting a different reality when in 2003 and 2004 the losses were of more than $400m on annual sales of over $1b (Lego case of study 2014). Once they analysed what were the main issues that led the company into that situation, two were the main problems. First of all, the product portfolioRead MoreEssay on Lego Case Study967 Words   |  4 PagesLego Case Study 1. What business goals were set by Knudstorp? Ans. Jorgen Vig Knudstorp, the CEO of Lego set the following goals for the company which was performing very poorly, * To remain profitable while maintaining growth, continuous innovation and quality of the products * To reach to broader customer segment * To cut expenses in production and supply chain and making these processes more efficient 2. What business strategies were set by Knudstorp? Ans.