Swot Analysis Of Lego

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What distinguishes the LEGO group from other established names within the toys and games industry is its malleable approach to riding the highly-volatile, fluctuating changes of the market. Its penchant for embracing pseudo-radical business methodologies, sparked off by internal reforms in 1995, of which were further endorsed by its current CEO Jørgen Vig Knudstorp whom was appointed in 2003, gave rise to vast waves of logistical innovation that continue to influence the operations of today. Through detailed research of the LEGO group’s past dealings, it has been identified that its core organizational values include; dedication to unimpeded user-experience customization, an unwavering commitment to community building, and unflinching openness to change. Lego's organizational values embody the spirit of uninhibited creativity as well as customization. This belief system operates as the beating heart of the brand, and is present in the way it decides business…show more content…
LEGO's dedication to 'newness' within the toys and games market required the company to explore different avenues of product development as well as establish markets that were previously never tapped into. In 2008, the company set up a unique incubator program for user entrepreneurs at its Billund headquarters. In this program, users take on some of the entrepreneurial tasks involved in developing new products that a manufacturer usually has to undertake. LEGO tapped into their fan base's unsurmountable enthusiasm for creation, and thus users were integrated into the product design process. This direct initiative for free-play generated many different product designs which suited the need of end-users – members of the fan base themselves. As such, the program ensured the constant growth of external

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