LEGO Introduction LEGO is seen as an extraordinary company not only in the eyes of parents who proudly watch their children build castles and town halls‚ but also in the eyes of high-minded academicians. Playing with LEGO sets is widely believed to develop motor skills and creativity in children‚ considered essential tools for real-world problem solving. The firm‚ founded in 1932 by a Danish carpenter did well continuously. Business Problem But by the late 90’s signs that something was
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toy companies‚ and the difficulty of manufacturing economically. After this crisis‚ Lego was able to pick themselves back up and become innovators around technology‚ mass customization‚ and community to enhance and extend its customer reach. To start off their prosperity‚ they were awarded $178 million from the CEO’s family. This allowed much breathing space for which the company could make a turnaround. Lego workers knew that they had to rationalize and cut costs in areas like supply chain and
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Annual Report 2011 The LEGO Group FINANCIAL HIGHLIGHTS Financial Highlights The LEGO Group (mDKK) 2011 2010 2009 2008 2007 18‚731 (13‚065) 5‚666 (124) 5‚542 4‚160 16‚014 (10‚899) 4‚973 (84) 4‚889 3‚718 11‚661 (8‚659) 2‚902 (15) 2‚887 2‚204 9‚526 (7‚522) 2‚100 (248) 1‚852 1‚352 8‚027 (6‚556) 1‚449 (35) 1‚414 1‚028 12‚904 6‚975 5‚929 10‚972 5‚473 5‚499 7‚788 3‚291 4‚497 6‚496 2‚066 4‚430 6‚009 1‚679 4‚330 3
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Summary of the case The LEGO Group’s vision was to “inspire children to explore and challenge their own creative potential”. Its motto‚ “Only the Best is Good Enough‚” had stuck with company since 1932 when Ole Kirk Christiansen‚ a Danish carpenter‚ established the company in the small town of Billund in Jutland‚ Denmark‚ to manufacture his wooden toy designs. As the company itself stipulated it: “It is LEGO philosophy that “good play” enriches a child’s life — and its subsequent adulthood. With
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1- HISTORY OF LEGO I will be responsible for starting the presentation. In my part‚ I will begin by introducing the group’s members and saying what everyone is going to talk about. Secondly‚ I will begin by introducing our partners in LEGO to have a global information of the company‚ short but clear. I will talk about the history of the company‚ beginning‚ growth‚ expansion and current affairs. Later I’ll do a little description of their products‚ kind of them‚ why kids likes them‚ what
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Lego Case Study Report Introduction The Lego Group was founded in 1932 by Ole Kirk Christiansen. For years of development‚ Lego has achieved the transition from a carpenter’s workshop to a global enterprise. Its Lego brick has been named the ‘toys of the century’ twice and greatly contributes to the company’s stable growth. Nevertheless‚ Lego struggled mightily in the early to mid-2000s. Sales dropped 30 percent in 2003 and 10 percent more in 2004‚ and the company was destroying about $337‚000
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Design Report: Design Option – Plastic Bottle Bricks The design area chosen by my team is Waste Management. Our aim is to reduce the dumping of Codo’s waste in the environment and provide and alternative purpose for those materials. The plastic bottle brick is an option that combines plastic bottles‚ bags‚ packages‚ and many other types of dry waste to create a brick much stronger than the traditional one. A huge initiative to use this brick can be seen at the Eco-Tec’s Ecoparque El Zamorano
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The Lego Group: Building Strategy Problem Statement: The Lego Group has been making toys successfully for 80 years and has grown to having close to 3.16 B USD in sales for the 2010 year. They specialize in toy building sets‚ a sector of the market that has seen 13% growth in 2010 and is forecasted to grow further. However‚ the Lego Group is at a cross-road in their business plan and requires a strategic plan going forward. Currently‚ the company needs to look at its existing partnerships
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Lego 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.
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