innovative strategy with plastic bricks and electronic features to adapt themselves to the ‘new’ age. Also the competitors were a reason for them to develop their strategy. To stay competitive LEGO for example hired the young innovative CEO JØrgen Vig Knudstorp and sold the LEGO theme park to Merlin Entertainments Group to be able to focus on their core product. Within their strategic management the company was always willing to take risk which is until now one of their strength. Moreover the popularity
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CASE: I Playing to a new beat: marketing in the music industry Questions: 1. Discuss the micro and macro forces that are affecting the music industry. Answer : Factors affecting the music industry include the following: • Consumers have created a new value curve for the music industry • Online file sharing and downloading where copyright holders are bypassed has put the traditional business model of the music industry in doubt • Competition for consumers time‚ attention
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The Lego Group Case: The Crisis Prior to finalizing a strategic recommendation for Knudstorp and the Lego Group‚ I needed to gain perspective on the industry and internal factors that have historically interfered with Lego’s business model‚ and thus lead them to the point of bankruptcy. In Exhibit A‚ I used the Porter’s five forces model to help identify and label the threats‚ demands‚ trends and opportunities of the toy industry. While Lego faced many different types of challenges‚ market trends
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The LEGO Group A short presentation 2011 2 The LeGO GrOup 2011 Contents It all began in 1932 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 The LeGO Group in key figures . . . . . . . . . . . . . . . . . . . . . . 5 Focus on growth . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 Organization . . . . . . . . . . . . . . .
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SPRING 2012 V O L . 5 3 N O. 3 Yun Mi Antorini‚ Albert M. Muñiz‚ Jr. and Tormod Askildsen Collaborating With Customer Communities: Lessons From the Lego Group REPRINT NUMBER 53316 i n n o vat i o n Collaborating With Customer Communities: Lessons From the Lego Group The leading question How can companies collaborate effectively with their customers? Findings Companies need to By tapping into the knowledge and enthusiasm of thousands of longtime
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recognise their products as safe and durable‚ great toys for children to develop learning skills overtime. In 2004 Lego started to feel the pressures of ever growing market presence of competitors and the changes in markets. In 2014‚ the CEO‚ Jørgen Vig Knudstorp‚ employed changes that would benefit the Lego Group immensely. Lego have been able to develop a wide range of resources over there operating life. This has allowed them to have an inside-out approach. They have taken these unique resources
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Lego Case Study: 1. How did the information systems and the organization design changes implemented by Knudstorp align with the changes in business strategy? Knudstorp changed the business strategy by reforming the production‚ supply chain and various other departments. This mandated that the supporting Information Systems be changed. Also‚ the company’s expansion into newer technological domains such as virtual interaction games and video games forced the company to use advanced technologies
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BUSI 1484 – Managing Strategy 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 and
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Lego case study 1. How did the information systems and the organization design changes implemented by Knudstorp align with the changes in business strategy? Ever since LEGO started experiencing double digit annual sales growth‚ (by launching new toy games‚ branded theme parks‚ entering the video game sector‚ introducing mobile applications‚ introducing toys for girls‚ etc.) they realized they needed a model that was standardized‚ modular and scalable. Hence‚ allowing them to expand to
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the changes in the toy industry coupled with expiry on their license‚ Lego faced huge challenged‚ reflected in their net loss of 308 million Euros in the early 2000s. Nevertheless‚ Lego’s exemplarily strategic management practices under its CEO‚ Knudstorp brought the company back to brilliance and as of 2014‚ Lego thrives once again as the world’s most competitive toy company. As such as is the case‚ this essay shall examine Lego groups ‘from riches to rags to riches’ story with a special focus on
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