3.1 SWOT
SWOT analysis: It includes internal situation of strengths and weakness, and external analysis of opportunities and threats.
Strengths:
• Well reputational toy manufactory and high brand image in customer 's awareness.
• Long term loyalty customers to support LEGO product from teenager to adult grade.
• Provide wide range of product portfolio like educational and themed brick product with high quality.
• LEGO encourages children play in “System” and “Creativity” through playing interlocking brick toy and provide them different play experience as well.
• LEGO invested a lot of resourcing on media advertising in TVCs or graphic magazine
• High bargaining power to the suppliers Weakness:
• LEGO product is easily duplicated by illegal
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3.2 PESTEL
PESTEL Analysis: A better framework to understand the organization in few factors externally. In this section, we could extract the useful elements to build up the foundation for recommendation to LEGO.
Political
Intelligent toys is an essential elements of parents to force their child to develop individual skills and minds. The organization of European union (EU) has strictly formulated the political agreement to protect the children under EU members. According to the rule of "Toy safety directives" it rigorously mentioned adopting phthalates used with elasticity, transparency and robustness are prohibited in manufacturing toy product since 1999 in EU then 2008 in America.
Economic
Educational toy product is one of main product line in toy industry and it is supposed to become as an economically cornerstone in the past. Nowadays the worldwide economy is growing and thus LEGO is keep improving their services or products with educational element. This will help to build up customer value in long term relationship as well as enhancing company profits. LEGO business is also bringing the increasing of employment rate since it expanded business categories likes creativity, toy production and movie industry. However, Infringing product issue make worse to job losses of employment rate in
The Lego Movie is the story of a complete and utter dystopia but everybody does not know it. When Lord Business pretends to give them taco Tuesday as a form of gift or propaganda, he actually intends to glue them all in one place using the kragle (krazy glue with letters wiped off the tube). When he tries to do this, he is stopped by a simple minded construction worker, who at an earlier date has accidentally found the piece of resistance and learnt how to be a master builder. Through this confrontation will Lord Business rule over the world or will Emmet be able to save his home from being destroyed.
Lego kits can be used in different businesses and organisations like offices, car parks, arcades and banks.
A SWOT analysis is an acronym that stands for Strengths, Weaknesses, Opportunities, and Threats. SWOT is a planning evaluation used by businesses and organizations.
Through studying the entire retail toy industry, we have been able to understand the complexity of the industry in which Toys "R" Us operates. Upon completion of the analysis, we realized that the industry is growing stably, in both size and dollar vallue, and has reached a mature market stage. In order to lead to future success, companies in this industry have no choice but to compete on new technology, innovation, cost, and global expansion.
The toy picked for the toy evaluation in child and development psychology class was a Transformer for the suggested age of 3. A brief description of the Transformer will be given to identify the characteristics and how they are suitable or not suitable for the recommendation age listed. The toy will be analyzed on specific qualities that relate to how it can foster growth of the child and be evaluated on what the necessary abilities are needed to play with the unit. This toy will also be evaluated as it pertains to how the child would play with the car and if the child would be able to grasp the concept of the Transformer. Other cognitive concepts will be applied to how the Transformer is used and if the child would be able to understand the Transformer. The fine motor skills and gross motor skills used to play with the Transformer car will be another topic of discussion. In addition, the toy will be reviewed to how or if it would be shared within a social environment and if an adult would be able to participate in teaching the child.
Children can greatly benefit from having chances to create connections to the real world in their play space, waiting for the fruit on the fruit trees to ripen or continuously checking to see if their seeds have sprouted all provide both connections to the real world ,as well as expanding developmental skills and knowledge. An ideal learning environment for children does not necessarily need to cost a lot of money to establish and maintain, using items found out the natural environment can often spark creativity and connections with children. Children don't need to always be surrounded by the newest and fanciest plastic toys, natural ideas such as wood blocks can but used instead of lego pieces or rocks for painting on, items such as those can be cheap easily found and yet still provide children with the same if not more developmental skills and learning. From young age children need to be presented with opportunities to take safe risks in order for them to grow and
What is a SWOT analysis? This concept involves assisting businesses to identify their strengths, weaknesses, opportunities and threats. It is often used to analyze an organization and its environment. Businesses find the analysis useful in assisting them to improve their business, establish goals and objectives.
Through her findings, she points out that there are many cognitive benefits to playing with toys (for instance, playing with blocks develops spatial reasoning and creativity skills). Her coding differed from the other research about the topic, focusing on sociability, competition, aggressiveness, manipulability, nurturance and attractiveness (Miller, 1987). I find that this very specific word choice better reflects the experience and teachings that come from toys, though I think it would have been better executed if the words were more clearly defined. The focus on social-play and manipulability adds something new to the discussion on the effects of play, particularly gendered-play, as toys that rank high in that category directly teach children how they should act when in social settings and how much of the world they can have an effect
It goes through the through the strength, weakness, opportunities and threats of the company. This analysis is called the SWOT analysis. It is divided into two major parts. External Factors and Internal Factors Strength and weakness are concerned with the internal factors, and opportunity and threat are concerned with the external factors. 3.1 External Factors Here only opportunities and threats are analysed as these are supposed to be listed as anticipated events or trends outside the business that have implications for performance.
The LEGO Group organization is famous due to its flagship product – colourful plastic bricks that can be interlocked to form a variety of figures, and then disconnected again. These binding bricks originated in a wooden form when the company was first established in Billund, Denmark by Kirk Kristiansen in 1932 (The LEGO Group, 2012), and today’s well known plastic version was introduced in 1958 (Rosenberg). The company’s head office is located in Billund to this day, and The LEGO Group remains privately owned by Kristiansen’s family (The LEGO Group, 2012). They currently sell toys and teaching materials in over 130 countries worldwide.
Children in general need to be safe and in addition to that their toys need to match their ages, especially their stages of development as well as their abilities. A lot of those safe further more appropriate playing materials for the children are free items which are typically found at home. There are those playing material which can be used in one way or the other by the children of various age groups. these could be playing materials such as plastic bowls, Cardboard boxes, lids, a collection of plastic, bottle caps, in addition to other treasures. In this case there is a website which offers suggested toys for children of different ages and in going through the website one of the main things which is supposed to be kept in mind is that each and every child develops at his or her own pace. There is a list of items which children can use for playing. The list comprises of a good choice for children with different ages that is the younger as well as the older then the suggested age range. This article majors generally on those toys for young infants that is from birth to the age of six months though mostly three and four months of age. At this stage babies like to stare at people and following them with the eyes. In general, it is at this age limits that they prefer faces as well as bright colors (Goldfield, 1987). Babies can get in touch with, can be fascinated with that which their hands as well as their feet can do, they can lift their heads, turn their it in the direction of the sounds, they put various things they come across in their mouths, and many more. They recommended good toys for young infants as well as children of different ages which are recommended have got to be
P’kolino’s story is all about passion for superior products and how they can change people’s lives. Founded by Antonio Turcos-Rivas and J.B Schneider, the Company’s goal is: to “make better products to improve play at home”. In the course of developing safe and quality products, implementing and marketing other strategies, P’kolino Company aims at improving children’s play thus , improving sales by $51million (Bygrave and Andrew, 2008). The Company’s goal was comprehended during their MBA’s study. During their study, the two entrepreneurs began a thorough research and development project with more than twenty international design students.
A SWOT analysis is a measure tool to summarize a company’s internal and external aspects. By measuring the company’s strengths, weaknesses, opportunities and threats and looking for improving solutions by using the strengths and opportunities to improve on the weaknesses and take the necessary actions concerning any threats a company can survive in today’s world market.
Product mix is the most essential element of marketing strategies of a company. Interface is well known as the global best provider of commercial carpet tiles. The organization deals with selling and leasing carpet tiles. Due to the recent poor performance by Interface, its product determination should be integrated to form part of its marketing strategy. The marketing department of ESA should mainly focus on the market segmentation as per the department requirements of the potential ...
Top managers should be reminded that they are ultimately responsible for the quality of a product and the company. Quality management is one of the keys. By defining quality in operational terms, understanding the costs and benefits of quality, recognizing the consequences of poor quality, and recognizing the need for ethical behavior (Stevenson, 2012), will lead to a more productive operation. If Toys, Inc. specifically doesn’t want to hire additional positions to inspect quality they could outsource to a company such as SATRA whom from its website states, “SATRA can assess the risk of injury from a toy, as well as carry out analysis for the presence of restricted metals such as lead, chromium and mercury(2015).” Quality is the ability of a product or service to consistently meet or exceed customer expectations (Stevenson, 2012). Quality when it comes to manufacturing of toys especially those that have moving parts also brings in safety concerns. “Market watch officials and technological experts have warned parents to pay more attention to the quality of toys they purchase to better protect their children (Hazell, C 2011).” Parents will associate a poorly made toy, especially one that already knows that it’s poorly made by having a trade-in program as potentially dangerous for their son or daughter. Continuing to have customer dissatisfaction will further question the quality of our product and in turn the safety of our