Swot Analysis Of Lego

2.1 Lego creating value

the “joy of building, pride of creation”: the company’s goal has stayed remarkably consistent and is probably best expressed in its current iteration: “ to inspire and develop the builder of tomorrow”.

The second principle is “relentless experimentation begets breakthrough innovation”; even in its start-up years, Lego restlessly experimented with new ideas, sometimes making big bets on untested technologies. More often that not, game-changing innovation doesn’t come from one all encompassing, ambitious strategy. It comes from persistent experimentation, which increases the odds that at least one effort will get you to the future first. The business strategist Gary Hamel underlines this notion in “the future of management” where he asserts , “Innovation is always a numbers game: the more of it you do, the better your chances of reaping a fat payoff”. Lego gets this.

The third principle is “ Not a product but a system”; the Lego Group’s breakaway success grew out of its ability to see where the toy world was heading and get there first. There are six features, called the company’s “Principles of Play” and issued to every Lego employee:

1. Limited in size without setting limitations for imagination

2. Affordable

3. Simple, durable; and offer rich variations

4. For girls, for

Head for blue ocean markets→ for more than a decade, business thinkers such as W.Chan Kim and Renée Mauborgne, the authors of “Blue Ocean Strategy”, have exhorted companies to push beyond the tactic of making incremental improvements to existing products and instead swim for the open water spaces. If red oceans are the crowded, bloodied waters where companies chew each other up for a smaller and smaller chunks of market share, blue oceans are vast markets, unsullied by cutthroat competition, where outsize profits await. The Lego Explore toys were an attempt to discover a blue ocean in the toddler toy market by producing electronic educational toys under the Lego