The LegoCaseStudy.com. The man who rescued Lego, an interview with Meet the Boss.tv Jørgen Vig Knudstorp CEO of LEGO outlines his views on the big turnaround. www.meettheboss...
I really enjoyed this video! In Lego's case thinking out of the box was returning to their roots or if you will "thinking inside of the (Lego) block"... Superbly explained and expressed by Jorgen... A gem for all managers alike, I have added to my favorites...
A really good video, on how Lego was saved, i'm a long life fan, and can see how thinking outside of the box was the best way forward :) the variety is better today also the cartoon, film based, disney sets keep it going.
The thing that Lego did wrong was in the later 90's and early 2000's, they came out with awful juniorized sets (late town and early city *cough*), themes and just about everything else in general. They came our with some horrible themes as well and took existing themes (like castle) and made horrible subthemes for it (Knights Kingdom II anyone?). People in general simply stopped buying such sets (well buying in lower numbers) because quality wise (as a whole, not the physical quality of bricks) wasn't so great. What ultimately saved Lego was licensed sets, particularly Star Wars. When the prequel trilogy came out in 1999, so did the first wave of Star Wars sets based on the original trilogy and the prequel trilogy. Now some recent sets can go for a premium once retired if it is Mint In Sealed Box, just as much as the classic sets would go for.
The licensed products did bring in money, but it also doomed them, as they were depending more and more on their success and exterior factors and they were getting slammed by the cost of the copyrights. In 2003 Lego nearly died simply because there was no new star wars and Harry Potter films and as a result Lego were unable to push new design based on new movies Wich led to a massive decrease in sales for the HP and SW themed Lego sets. He is right to say that shifting their focus back to the basics was what saved them, licensed products bought them time but what really made Lego profitable was that back to the sources, less is more attitude, the pace they set was a deciding factor in making Lego a major player again.
And instead of releasing 15-20 less intricate sets and 3 new themes every year. They release 10-15 sets with more concentrated construction and 1-2 themes every other year
Elitist Leadership in practice - Beautiful explained. First Hope and Focus - next Act and Adapt. Consistant iterative actions will move you forward one inch a day actually move you 365 inch in a year - and focus keep every-one in control.
If they keep up nexo knights or ninjago they might see a dark time again, star wars city and heroes themes are almost always out of stock, especially new season releases ninjago and nexo knights shelves are always fully stocked
Hola Hi. Sorry for my redaction. I dont speak english. I like this activity and Im teacher in Peru. My school had 12 kits of robotics but another teacher didnt take care with this material. Lo que le pido es que si tuvieran kits que no usen, que ya no necesiten, podrian donarlos a mi escuelita. Piensen que muchos niños se beneficiarian.
Loved the fact is says what we did wrong even though it was before his time. True leadership at its best xxx
this guy is very upfront and candid. love it.
this guy is a freaking genius!
I really enjoyed this video! In Lego's case thinking out of the box was returning to their roots or if you will "thinking inside of the (Lego) block"... Superbly explained and expressed by Jorgen... A gem for all managers alike, I have added to my favorites...
Great interview that gave a lot of insight into turnaround strategy.
I like how Lego be proud to be grown men that get shit done, and don't candy coat shit
So much respect for this man!
A really good video, on how Lego was saved, i'm a long life fan, and can see how thinking outside of the box was the best way forward :) the variety is better today also the cartoon, film based, disney sets keep it going.
Great interview! Just studied the history of LEGO and what Vig Knudstorp was able to do was truly incredible.
The thing that Lego did wrong was in the later 90's and early 2000's, they came out with awful juniorized sets (late town and early city *cough*), themes and just about everything else in general. They came our with some horrible themes as well and took existing themes (like castle) and made horrible subthemes for it (Knights Kingdom II anyone?).
People in general simply stopped buying such sets (well buying in lower numbers) because quality wise (as a whole, not the physical quality of bricks) wasn't so great.
What ultimately saved Lego was licensed sets, particularly Star Wars. When the prequel trilogy came out in 1999, so did the first wave of Star Wars sets based on the original trilogy and the prequel trilogy.
Now some recent sets can go for a premium once retired if it is Mint In Sealed Box, just as much as the classic sets would go for.
The licensed products did bring in money, but it also doomed them, as they were depending more and more on their success and exterior factors and they were getting slammed by the cost of the copyrights. In 2003 Lego nearly died simply because there was no new star wars and Harry Potter films and as a result Lego were unable to push new design based on new movies Wich led to a massive decrease in sales for the HP and SW themed Lego sets.
He is right to say that shifting their focus back to the basics was what saved them, licensed products bought them time but what really made Lego profitable was that back to the sources, less is more attitude, the pace they set was a deciding factor in making Lego a major player again.
Meeting at 7 a.m? Okay, I´m out LOL!
The thumbnail makes it look like a video from the onion.
And instead of releasing 15-20 less intricate sets and 3 new themes every year. They release 10-15 sets with more concentrated construction and 1-2 themes every other year
very inspirational.
I watched it for two times
Elitist Leadership in practice - Beautiful explained.
First Hope and Focus - next Act and Adapt.
Consistant iterative actions will move you forward one inch a day actually move you 365 inch in a year - and focus keep every-one in control.
The whiteboard is totally real we do it too
If they keep up nexo knights or ninjago they might see a dark time again, star wars city and heroes themes are almost always out of stock, especially new season releases ninjago and nexo knights shelves are always fully stocked
this video is better than university
This guy is the Elon Musk of Lego! Bruh, bring back M-tron!!
Amazing.
just see @9.30; 11.30
nice one
SINCE THE EXPANSION THE BRICK COLOUR MATCH ON MODELS IS VERY POOR.ESPECIALLY ON CREATOR PRODUCTS
The man who rescued LEGO.....and then screwed all of us by raising the prices on all available sets.
Well it seems there are still buyers, otherwise they wouldn´t make a profit of 12-14 Billion DKK every year.
Hola
Hi. Sorry for my redaction. I dont speak english.
I like this activity and Im teacher in Peru. My school had 12 kits of robotics but another teacher didnt take care with this material.
Lo que le pido es que si tuvieran kits que no usen, que ya no necesiten, podrian donarlos a mi escuelita. Piensen que muchos niños se beneficiarian.
And yet, the company is going down hill again due to its greediness
Denmark cool industri
okay this guy is wrong the real man who saved Lego is Greg Farshtey
He is just a hack swindler.
The 3rd time
Thank you for the insightful sharing of your management insight.
bullshit!!! lego are getting more and more expensive. eventually they 'll be destroyed from this. no matter what
Rescued LEGO!?
xD xD xD
Are they kidding?
Look what happend, look what they have done....