LEGO Business Strategy and Social Responsibility

Document Type:Thesis

Subject Area:Business

Document 1

Currently, the Lego Group is one of the world's largest toy companies with revenue of US$2. 1 billion (GARDNER 225). What is the overarching business strategy of the company? The company uses innovation strategy and growth strategy to help accomplish its strategic plan. The company's brand goes beyond their familiar logo. The people have high expectations towards the company's products and services, and the accountability that the company feels towards the environment and the world around it (Karmark 128). In 2016 the company started a campaign aimed at raising awareness of the importance of play for children's development and of the challenges facing refugee children (Tolhurst 135). The company also spent $150. 5 million to develop new durable materials for its plastic toys and packaging materials. The investment includes the establishment of the Lego Sustainable Materials Centre in Billund, Denmark.

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Is there a specific framework they've employed, e. In its activities, the company values and mission guide it towards ensuring business operations that support and safeguard children's rights. These activities align with its business because their business aimed at empowering children, which is a Corporate Social Responsibility in the end. How strategic (or not) have they been in selecting their partners? Lego remains very strategic with how it collaborates in all its activities that should be in line with the company's core values. The company launched the Partners in Play campaign together with UNICEF, which aimed at reaching vulnerable children (Yates 70). LEGO has made progress towards using only sustainable materials in core products by 2030 as a way of its initiative to adopt renewable energy methods.

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LEGO tactic of Creativity combined with smart management ultimately has led to the company's success. Buying LEGO's toys makes parents feel like they're investing in their child's development. Are there any specific tactics that you think have been particularly successful or unsuccessful? Why do you think that is? LEGO's key to success has been the consistency in the brand's look and feel, coupled with the company's ability to adapt just enough to "change with the times and broaden its market. " LEGO boast of creating unique ways to tap into the needs of its customer through advances in the area of research and design thinking. The leadership team reduced the number of different LEGO bricks produced, eliminating those that were costly to the source, standardizing their design, and thus increasing the team's ability to react more quickly to consumer trends.

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LEGO is now the world's third-largest toys and games company and has produced over 485 billion bricks so far. LEGO has been able to expand its factories across the globe, and the future even looks brighter. If available, cite the impact on people The most critical effect by the company is providing children with fun and helping them develop the necessary skills and competencies that they need to create a better future for themselves and the planet. The company's activities aim at upholding the highest ethical business standards and business practices, with respect for human and labor rights. The LEGO employees are well compensated and the company gives back to the society, for example, the partnership to help children from war-stricken countries.

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