LEGO Analysis

The company LEGO is a famous toy manufacturing organization headquartered in Billund, Demark. It was founded in 1932 and owned by the family Kristiansen. In 1934, the founder stumble upon the name LEGO, which stands for Leg Godt and meaning “play well” in Danish. The major products of the company LEGO are LEGO-brand toys, which consisting most of the interlocking plastic bricks. LEGO also introducing its own system, which means that thousands of building elements can be easily combined with numerous ways and could be dismantling and used reduplicative for different models. (710973 PROJECT PAPER 510 PAGES) In 2016, the company has approximately 16,836 employees, generating revenues of 37.9 billion DKK (Danish Krone) and the net profit of 9.4 billion DKK.

Company LEGO is the most successful toy company all over the world. Nevertheless, it also faced a crisis in the early 2000s. In 2003 the company had a big trouble, approximately 30% losses in
Once as you become a member of LEGO IDEAS you are allowing to submit the design of the ideas within the platform, others can comment, evaluate or vote for it. Moreover, if the member has a new idea for the LEGO set they are allow to create the model, take photos and write convincing project descriptions in the platform. If the member carefully follows the Project Guidelines and House Rules designed by LEGO and also gather 10,000 supporters, then the idea will be move to the LEGO reviews, the review sessions held 3 times during a year, mainly: January, May and September. Moreover, LEGO generates a limitation of 1 year for supporting votes in order to avoid “dead” ideas. If they pass the LEGO review phase, the new product will be produced and sale in the market all over the world. Until now it totally has 12 user generated sets are approved and sold internationally (Digital Innovation and Transformation,