Lego’s business trajectory over the last few decades provides a true case study in how necessity has precipitated its ability to innovate at each level. When the company was on the bankruptcy a decade back, it went innovative, saved the company and did very well. Now that sales is back, and the company is doing well, business innovation has again been put as the backburner. Too much growth as seen through Lego’s story can stifle innovation, increase bureaucracy while people start avoiding risks. Only those who are paranoid enough survive because they constantly experiment. Companies whose products are targeted at entire generations are prone to such boom and bust cycles due to the fickleness of this market. The really good innovators explore adjacent industries as Lego did with robots. Another company that had faced a similar condition was Disney, where upscaling did take place, but had its limits. Companies need to learn how to grow up so they get business from adults also, but at the same time must not grow old or irrelevant bureaucracies.

Source:http://innovationexcellence.com/blog/2017/09/19/legos-innovation-lessons/

Uploaded Date :06 October 2017