Preview

LEGO A Success Story

Powerful Essays
Open Document
Open Document
1266 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
LEGO A Success Story
Toys are a part of a child’s daily life where creativity and imagination is allowed to run wild and flourish. Children growing up in the 19th century are blessed with having the opportunities to engage in recreation through teddy bears, Barbie dolls, wooden horses and other toys. Among the difference types of toys, the little construction bricks known as LEGO is one of the most popular among children. The Danish company founded by Kirk Christiansen in 1932, is still operational and privately owned by the family until today (Phillips, 2010). With businesses spanning across 130 countries, this giant toy manufacturing business employs approximately 10,000 individuals to run the company (Jensen, 2012). Factors such as innovation, marketing and brand power are the main contributors to the success of the company, thus allowing the company to bring positive impact such as innovative education and economic growth for various parties.
Innovation is one of the key factors that resulted in the success of the LEGO Company. Innovative new products promote a constant interest of children; this allows sales to be constantly endorsed. Created in 2003, Bionicle is one of the most revolutionary products from LEGO as it became the turning point in the company’s innovative products. It was dubbed by The Guardian in an article by Widdicombe (2004) as “the biggest of the recent hits, and number one Lego product in 2003”. The Company realize that it is able to not only branch out of the construction toy category but also make an immense amount of profit in the role playing toy category. Goodley (2011) reported that the UK managing director Marko Ilincic was proud to announce the company enjoyed phenomenal sales during that year and was astounded to see the sustaining growth of it classic product lines, namely LEGO Star Wars and LEGO City. Due to idea originality aligned with the current trend of the market has enabled the company to boost it sales with its ground-breaking products.


References: Bithell, S. (2013) Lego Challenge Helps Students Visualize Curriculum Framework. Business Officer. 46 (6), pp. 17. Goodley, S. (2011) Lego profits boosted by Harry Potter magic. The Guardian [Online]. 3 March. Available from: http://www.guardian.co.uk/business/2011/mar/03/lego-profits-harry-potter [Accessed: 26 April 2013]. Jensen, M.V.S. (2012) About Us: The LEGO Group. Available from: http://aboutus.lego.com/en-us/lego-group/ [Accessed 23 April 2013]. Joffe-Walt, C. (2012) Why Legos Are So Expensive — And So Popular. Planet Money [podcast]. Available from: http://www.npr.org/blogs/money/2012/12/13/167055503/why-legos-are-so-expensive-and-so-popular [Accessed 27 April 2013]. Milne, R. (2013) Lego Moves Up Toymaker Ranks. Financial Times [online]. 21 February. Available from: http://www.ft.com/cms/s/0/adefc266-7c15-11e2-bf52-00144feabdc0.html#axzz2Rf91v6Ul [Accessed 27 April 2013]. Phillips, S. (2010) LEGO: Impossibly simple licensing. License! Global, January/ February 2010, pp. 53. Teo, I. (2012) Legoland Malaysia: An Economic Building Block. Money Minded Malaysians [blog]. 26 October. Available from: http://mmmalaysians.blogspot.com/2012/10/legoland-malaysia-building-block-for.html [Accessed 26 April 2013]. Wieners, B (2011), LEGO Is For Girls (cover story). Bloomberg Businessweek, 19 – 25 December, pp. 68 -73. Wolf, S. (2013) East Lake Community Library Uses LEGOS® To Support Stem Skills Of Young Patrons. Florida Libraries. 56 (1), pp. 15-17.
Continue Reading
View Writing Issues

You May Also Find These Documents Helpful

  • Satisfactory Essays

    Mt460 Unit 6
    • 733 Words
    • 3 Pages

    Mt460 Unit 6

    Find a way to increase placement in movies (they have began to do this). Movies are a very great way to showcase what Lego’s are capable of doing. Expanding the minds and creativity of today’s children.…

    • 733 Words
    • 3 Pages
    Satisfactory Essays
    Read More
  • Satisfactory Essays

    Mattel Inc. Argumentative Analysis
    • 282 Words
    • 2 Pages

    Mattel Inc. Argumentative Analysis

    Furthermore, the illustration on the appendix 1 demonstrates that Mattel Inc., was in the leading position in market share among the members in the European Union in 2011. Followed by Lego which owns a total market share on 8.32 %, which is approximately 1.76 % lesser then Mattel Inc. Additionally, it was only a very short brief for Mattel Inc., to be in this position, as a recent article from September 2014 highlights Legos which has left their competitor, Mattel Inc. behind. With this in mind the success relies mainly on two reasons. Firstly, Lego achieved this position while inventing and launching “The Lego Movie” in February 2014, which became a huge hit. Secondly, in the same year Mattel Inc. experienced a weak sale on their Iconic…

    • 282 Words
    • 2 Pages
    Satisfactory Essays
    Read More
  • Satisfactory Essays

    Lego Case Study
    • 432 Words
    • 2 Pages

    Lego Case Study

    Have you ever tried to “LEGO”? “LEGO” is toy of men and women of all ages in the world. I want to talk about Lego that has been tremendously successful.…

    • 432 Words
    • 2 Pages
    Satisfactory Essays
    Read More
  • Satisfactory Essays

    Lego Company Case Study Essay
    • 546 Words
    • 3 Pages

    Lego Company Case Study Essay

    5. With development of technologies nowadays people are using technology like a business tool. Instead of going to traditional corporation they get goods from each other using internet. The social trend of exchanging goods using technologies is Groundswell.…

    • 546 Words
    • 3 Pages
    Satisfactory Essays
    Read More
  • Best Essays

    The Lego Group Case Study
    • 3243 Words
    • 10 Pages

    The Lego Group Case Study

    Pilegaard, Ulrik, and Dooley, Mike. Forbidden LEGO. San Francisco: No Starch Press, 2007. ISBN 1-59327-137-9…

    • 3243 Words
    • 10 Pages
    Best Essays
    Read More
  • Powerful Essays

    Lego Case Analysis
    • 1542 Words
    • 6 Pages

    Lego Case Analysis

    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 this in mind, the LEGO Group has developed and marketed a wide range of products, all founded on the same basic philosophy of learning and developing — through play.”3 With this simple idea, the company had through its history grown into becoming a major multinational corporation, and was by 2009 the world’s fifth largest manufacturer of toys in terms of sale.…

    • 1542 Words
    • 6 Pages
    Powerful Essays
    Read More
  • Good Essays

    Team Performance Case Study: Lego Mindstorms
    • 1391 Words
    • 6 Pages

    Team Performance Case Study: Lego Mindstorms

    In the mid-1990s the Lego Group was composed of 45 companies which disseminated Lego toys in 133 countries around the world, with estimated annual revenues of 2 billion approximately; this company is considered the fifth largest toy company in the world. The fabulous global success of Lego can be accredited to the inventiveness of the Lego System toys and to the cohesive advertising tactic of this organization. This company (Lego brand of toys) was formed in 1932 when Christiansen, a carpenter from Denmark, agrees to spread his business of carpentry by industrializing a woody line of toys who named Lego.…

    • 1391 Words
    • 6 Pages
    Good Essays
    Read More
  • Satisfactory Essays

    Lego Group
    • 915 Words
    • 4 Pages

    Lego Group

     The Company, analysis  History  Today  Tomorrow  Collaborative Innovation  Theory, evolution  Tools  Lego User Innovation Strategy  Lego Board Games  Lego “Design By Me”  Costs and Benefits  Q&A…

    • 915 Words
    • 4 Pages
    Satisfactory Essays
    Read More
  • Powerful Essays

    Management and Lego Media Int'l
    • 707 Words
    • 4 Pages

    Management and Lego Media Int'l

    What are LEGO's values and corporate identity? How did these develop over time (prior to LEGO Media Int'l)?…

    • 707 Words
    • 4 Pages
    Powerful Essays
    Read More
  • Powerful Essays

    The Lego Group: Building Strategy Case 10
    • 1753 Words
    • 8 Pages

    The Lego Group: Building Strategy Case 10

    LEGO, the brand of toy that has been played with by multiple generations of people was founded during the Great Depression in 1932 by Ole Kirk Kristiansen, a Danish carpenter. Kristiansen started making toys out of wood and had 12 employees under him. The word LEGO combines two Danish words leg and godt, which mean “play well” and in Latin, fittingly means “to put together”. It’s ironic that LEGO was given that name because it was only later that Ole’s son Godtfred Kirk Christiansen strategically noticed an opportunity of creating the “LEGO system of Play” which was the idea that and every LEGO brick should connect to each other across multiple sets. The strategy was simple. Each set obtained by a child increased the amount of LEGO bricks the child would be able to play with. More sets meant more creative possibilities. Within this first strategic maneuver lied one of LEGO’s first mission statements which were “to create a toy that prepare the child for life, appeals to the imagination and develops the creative urge and joy of creation that are the driving force in every human being”.…

    • 1753 Words
    • 8 Pages
    Powerful Essays
    Read More
  • Powerful Essays

    Lego Report
    • 2938 Words
    • 12 Pages

    Lego Report

    Lego sets have been around for the past 50 years and have been enjoyed by people from all around the world. Very recently, Lego released a website called “Lego Cuusoo” through which people can create and submit their own ideas for a Lego project. Following the submission of the project onto the website, a voting process occurs; if enough support is gathered, the project moves into the production stage and is then sold through Lego. The revenue is shared with the developer as well. Accordingly, the objective of the MSCI 100 project consisted of entering our own idea of a Lego Project onto the website.…

    • 2938 Words
    • 12 Pages
    Powerful Essays
    Read More
  • Good Essays

    paragraph
    • 298 Words
    • 2 Pages

    paragraph

    Childhood toys advance either social or gender constructs to propel the concept of gender identity. Lego is a perfect example of a gender-neutral toy. Lego consists of colorful interlocking plastic bricks and an accompanying array of gears, mini figures and various other parts. Lego began manufacturing interlocking toy bricks in 1949. Since then a global Lego subculture has developed, supporting movies, games, competitions, and six themed amusement parks. In 1978, Lego produced the first mini figures, which have since become a staple. Lego's popularity is demonstrated by its wide representation. It was usages in many forms of cultural works, including books, films and art work. Lego is a legendary toy brand for boys to play a creation that used bricks to create multiple art works. As of 2013, around 560 billion Lego parts had been produced. It connected in many ways, to construct such objects as buildings. Anything constructed can then be taken apart again, and the pieces used to make other objects. However, this stance has since softened. At this period of time that toy brands are everywhere to attract kids towards their product. Toys are like technologies clothes for kids. Both genders can play Lego most of the time but they created more things for little girls to play. It is trained all the kids to be smart by ready instructions or even how to think things binds together. It is known as one of the best toys for both genders of that era. In fact, Lego is a brand that was really creative that can apply for kids while they are growing, things are just get more improve and better over time. Lego had really brilliant idea about made a place call Lego Land for all ages. Lego allowed children of both genders to express themselves.…

    • 298 Words
    • 2 Pages
    Good Essays
    Read More
  • Good Essays

    LEGO Case Study
    • 684 Words
    • 2 Pages

    LEGO Case Study

    LEGO is a family toy maker that was founded by Kirk Kristiansen family in Billund, Denmark in 1934. At the begin, LEGO concentrate on the wood bricks, in 1958 they change the material into plastic. Since 1980, LEGO group through established DACTA to expand education opportunities to their toys, they were developed such as Expert series, LEGO City sets, LEGO Star Wars. Then, in recent years, because of the technical trend, LEGO expand their toys in other area, they developed the video game of Star War, the app of LEGO for the iPhone. In 2011, LEGO add LEGO Friends for their brick kingdom, and this phase can bring them more attract and profits.…

    • 684 Words
    • 2 Pages
    Good Essays
    Read More
  • Powerful Essays

    Lego case study analysis
    • 1354 Words
    • 4 Pages

    Lego case study analysis

    By the end of 2003 Lego was already facing crisis owing to dipping profits and declining market pool for toys. Lego had planned to expand into markets beyond building toys and needed huge investment to be made in it. But it found difficult to compete when fad players and other toy manufacturers were giving them stiff competition in a market that already was supposed to be giving lesser returns every year. This was mostly due to factors out of the control of Lego and other toy companies because, firstly, a research suggested that the demand of children who were primary customers of these companies were changing rapidly to fashionable and electronic products. They had lesser attention span and looked for instant gratification, and were lesser inclined to play with toys involving physical activity. Also Lego found it difficult to be competitive when its manufacturing base was in European markets while toy companies were moving to Far East and Middle East where labor was comparatively cheaper.…

    • 1354 Words
    • 4 Pages
    Powerful Essays
    Read More
  • Good Essays

    How Did The Toy Industry Contributed To The Downfall Of The Lego Group?
    • 1019 Words
    • 5 Pages

    How Did The Toy Industry Contributed To The Downfall Of The Lego Group?

    The changing nature of the toy industry contributed to the downfall of the LEGO Group. As the consumer trend in the toy industry has shifted towards technology and other substitutes like video games and other online activities have reduced the demand for traditional toys. The toy industry was dominated by a few companies that fought over retail space, reduced prices, and launched new product lines to appeal to more consumers. Furthermore, the increasing power of giant retailers like Wal-Mart and Target reduced LEGO’s retail space as LEGO products generated less gross margin and inventory turnover was lower compared to other products. LEGO, the plastic bricks had dominated the construction toy market for decades, but the company struggled to increase sales revenue. After the LEGO Group experienced several years of losses, they hired Jorgen Vig Knudstorp to save the company. The LEGO Group was on the brink of bankruptcy because of the changes in the toy industry, failure to control their increasing costs, did not streamline their operations, and…

    • 1019 Words
    • 5 Pages
    Good Essays
    Read More

Related Topics