Innovation At The Lego Group Case Solution And Analysis, HBR Case Study Solution & Analysis of Harvard Case Studies

Innovation At The Lego Group Case Solution

The second lesson you can learn from the mistakes committed by LEGO is that you cannot do every thing by yourself. Although LEGO is a great firm with a $ 3 b revenue and a good income, but the firm has accepted that it lacks the basic features and therefore is in need of a partner. Some firms with large combinations may be convinced to do things on their own and unbiased innovation seems to be expanding in many companies as well.

Collapses-like this will not allow a firm - in this case Lego - to fall back into believing that since the partners' perspective does not work; they should do everything on their own for the future.

The third lesson is that you need to take risks. Yes, LEGO has incurred massive losses, but over time, you need to take risks to win. Perhaps LEGO even learned that it should have taken a much bigger risk. And learning its lesson from failure would help the firm in facing its future difficulties with efficiency. (Robertson, 2018)

One of the causes why LEGO lost some innovations is that it had lost vision of who its target was. The firm had made unconfirmed opinion and had moved quickly without having additional studies to know if this is what their consumers truly require.

When the heads of the LEGO had started to take time to have a better understanding of its better customers; they were again on the right track.

3) Make a proposal for a strategy and organizational changes that will suit the needs of Lego to continue delivering value through innovation.

There are 5 Steps for developing value through Innovation Strategy:

Determine the objectives and method of innovation

The first step should be the development of a strategy to tell the intentions to win. In other words, to communicate the new creative goals and why the firm is beyond the creative plan.

As for any strategy’s implementation; the organization must be able to communicate its goals for which the strategy is being implemented. The firm should be able to know the answer to “what do you want to achieve by inventing the new products?”

An example of a good planning address introduce din Playing to win is LEGO. LEGO’s desire to win and become the leading firm in the market and having a mechanism of its choice, will help it in becoming a reputable firming the toy industry. (Cina, 2018)

Know the Market: Consumers and Rivals

The second step in the optionstrategy, which is to define the suitable market place, such as: the market in which the firmworks and the amount of the consumerist provides products to.

In order to be able to answer to the requirements of your consumers;LEGO needs to pay attention and understand what the customers really desire, after which it should eliminate the irrelevant elements. To be able to do that, it is important to know what is going on in the market.

However, because aggressive conditions are unusual and often described as a strategy that works for another competitor.; LEGO Firm should not use such conditions again. Defining the purpose is also very important, but the special value arguments is the factor that would either make or break the splits’strategy. (the Leadership Network, 2016)

Defining the Value Proposition

Because the motive of change is to create competitive benefits;the LEGO Group should work on developing the value that retains the consumer's money and saves time or makes them willing to pay more for the offerings, which would increase the firm's advantages. It will also help the company in making better products as compared to the existing products being offered in the market.

In order to make a different value argument; the ability to identify and use new non-aggressive markets is recommended. This can be achieved using a different value.(Bughin, 2008)

Investigate and Improve your Basic Skills

The first three steps are helpful todecrease the choice of planning down to one thing; the Lego firm should work on the basic skills, which are required to win.

When thinkingfor sets of skills; the LEGO firm should consider the following:

R&D.
Developthe Innovative Strategies and Plans

Lastly, in order to be able to use the Innovative strategy in a wonderful and consolidated way;Lego needs to find out what plans it should be working on. The following factors should be considered while making a plan:

The firm’s role is R&D, especially in terms of advancement.
The role of training related to the re-structuring.
Sector combination structure.
Manufacturing, advertising and financial structure.

For your innovation’s functionality, planned adjustment and disordered integration into working net work are the key elements. LEGO should have clear communication alongside the assistance to the indicator sat an independent level, which would enable it in designing a much better proceeding action..........................

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