LEGO CASE STUDY CASE OVERVIEW • LEGO Group – A brick based toy making company • Founded in 1932 (during the Great Depression)as a small carpenter’s workshop Ole Kirk Kristiansen – build stepladders‚ iron boards and wooden toys • HQ – Billund‚ Jutland in Denmark • 1934 – Kirk’s son joined Godtfred Kirk • LEGO means – “leg”(play) “godt”(well) ORGANIZATION • Owned by the third and fourth generations of the Kirk Kristiansen founding family: Kjeld Kirk Kristiansen and his three children.
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background The LEGO group is a family owned company with long history. It all began in 1932‚ during the Great Depression‚ the demand of furniture dwindled so drastically that the master carpenter Ole Kirk Kristiansen turned his hands into making wooden
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STEPS TO LEGO GROUP FINANCIAL TURNAROUND Easy‚ Fast & Quick Results EXECUTIVE SUMMARY Rivkin‚ Thomke and Beyersdorfer (2013) suggested in 2004‚ the market size of the toy industry is worth $61% billion in the wholesales revenue‚ with a steady growth of 4% per year in the retail market for toys. Thousands of toymakers flourish the market to serve global demand while keeping track of the 3 new trends in the industry which are toys demand rise while product life cycles decline‚ children has less
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1. Do you think LEGO should try to compete with more technologically-advanced toys? Why or why not? Yes‚ they should. I think LEGO need concentrate on some technologically- advanced toys. The reason is that recently‚ the society full of technological toys‚ kids would like their toys with some new characteristics. Society has changed‚ people hope their toys more intelligent and can share their toys with others in order to build good relationship with others‚ so technologically- advanced toys is be
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TABLE OF CONTENTS 1.0 Executive Summary …………………………………………………………………………………2 1.1 Introduction Print news media in Australia………....………………………………………2 Web 2.0………………………………………………………………………..2 1.2 Trends News consumption in Australia……......……………..……………………….2 What trends are prevalent……………………………………………………...3 1.3 Challenges facing print news media Citizen Journalism……………………………………………………….…….3 Advertising Challenges………………………………………….…………….3 1.4 Recommendations …………………………………………………………………………………4
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As LEGO industry is continuously developing more innovated ideas to expand their product lines for their global buyers‚ it is my job to analyze their position in determining how to maintain market dominance in the building toy market as well in their financial success within the industry. By using Michael Porter’s Five Forces model‚ I was able to present the competitive set for LEGO building blocks and its recent product advancements. Looking at LEGO in the competitive set as a whole‚ we note that
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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
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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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Growing up working with Legos has led me to a lifelong interest in design. The Lego Architecture sets capture the structural design of real life buildings and use the design of the structural buildings to make Lego Architecture sets to look like real life. The Lego Architecture sets are based off actual places all around the world. My favorite Lego Architecture sets are the New York City‚ London‚ Buckingham Palace‚ Venice‚ and the Solomon R. Guggenheim Museum. These Lego structures gave me the dream
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