Lego - One More Brick in the Wall?

In: Business and Management

Submitted By martaf92
Words 1488
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| Lego: One More Brick In The Wall? | | |

1. How has the mission definition of Lego evolved overtime? Is it relevant today? How does this definition shape Lego's strategy? First we need to define mission. Mission is the purpose of the company it should be market-oriented, meaningful and motivating. They shouldn’t simply describe what the company sells; they should “emphasize the company’s strengths in the marketplace“. Since the beginning of Lego the mission was to produce quality toys. Like many other companies, they simply described what they were selling instead of reveling their strengths and motivations. In 2004 Kjeld Kirk Kristiansen stepped down as chief executive and hired Jorgen Knudstorp to run the family company. One of the first things Jorgen did was changing the mission to one that was truly oriented “To inspire and develop the builders of tomorrow” which they explained was driven by their “ultimate purpose is to inspire and develop children to think creatively, reason systematically and release their potential to shape their own future – experiencing the endless human possibility“. Nowadays this change revels that not only they were able of distinguish themselves from the other competitors but also create a brand that is known by is premium quality and creativity.

2. Prior to 2004 was Lego focused on its products or its marketplace?

By analyzing the case we see that 2004 was the moment in which Lego began experiencing turmoil. Lego was struggling against a falling dollar, chip Chinese toys and the growing fascination with electronic gadgetry. Therefore they started diversifying their products and exploring innovative new toys. When Jorgen took become CEO of Lego, he immediately recognized an excessive focus on “ creativity, innovation and superior quality “ that…...

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