COLGATE
Assignment 4: Managing for Innovation
What You Need to Do
The LEGO Group is a privately held, family owned, company based in Denmark. Founded in 1932 to manufacture wooden toys, a significant milestone in innovation at the company was the development of the now ubiquitous LEGO brick in the late 1950’s.
In recent years LEGO has enjoyed an envied record of success with significant revenue growth year after year and significant successes with new products. Its 2011 revenue was 133% greater than its 2007 revenue and similarly its reported average number of full-time employees in 2011 was 123% greater than in 2007.
However it was quite a different story a decade ago when LEGO posted its biggest lost ever in 2003 and appeared to be on the brink of bankruptcy following significant declines in demand for its products worldwide, plunging revenues, and escalating debt. In 2004 a new CEO, Jorgen Vig Knudstorp, was appointed to lead the company and since then LEGO has significantly transformed into a successful multinational company renowned for its innovative and successful products.
Write a well-researched report that analyses and describes how, under Jorgen Vig Knudstorp’s leadership, LEGO effectively manages innovation measurable in the popularity and success of its products and the current sustained growth of the company.
General Requirements for This Assignment
• A written report is to be prepared using an appropriate academic writing style and to include a list of references
• Read the Assessment Criteria guidelines in the Unit Guide for guidance on how this assignment will be marked. Make sure that any analysis you present is your own – not simply a summary of what is presented in source or reference materials. Your report must be an analysis report not a literature review.
• The word limit is 1000 words minimum to 1100 words maximum – not including the References section.
• The submitted report file format can be in MS Word or PDF
• Do not simply present
What You Need to Do
The LEGO Group is a privately held, family owned, company based in Denmark. Founded in 1932 to manufacture wooden toys, a significant milestone in innovation at the company was the development of the now ubiquitous LEGO brick in the late 1950’s.
In recent years LEGO has enjoyed an envied record of success with significant revenue growth year after year and significant successes with new products. Its 2011 revenue was 133% greater than its 2007 revenue and similarly its reported average number of full-time employees in 2011 was 123% greater than in 2007.
However it was quite a different story a decade ago when LEGO posted its biggest lost ever in 2003 and appeared to be on the brink of bankruptcy following significant declines in demand for its products worldwide, plunging revenues, and escalating debt. In 2004 a new CEO, Jorgen Vig Knudstorp, was appointed to lead the company and since then LEGO has significantly transformed into a successful multinational company renowned for its innovative and successful products.
Write a well-researched report that analyses and describes how, under Jorgen Vig Knudstorp’s leadership, LEGO effectively manages innovation measurable in the popularity and success of its products and the current sustained growth of the company.
General Requirements for This Assignment
• A written report is to be prepared using an appropriate academic writing style and to include a list of references
• Read the Assessment Criteria guidelines in the Unit Guide for guidance on how this assignment will be marked. Make sure that any analysis you present is your own – not simply a summary of what is presented in source or reference materials. Your report must be an analysis report not a literature review.
• The word limit is 1000 words minimum to 1100 words maximum – not including the References section.
• The submitted report file format can be in MS Word or PDF
• Do not simply present
References: section. • The submitted report file format can be in MS Word or PDF • Do not simply present the information requested for this assignment in a question and answer format in your report i.e., do not reproduce the questions from the previous page in your report. Marks will be deducted for not complying with this requirement. • There must be a Reference Section (Bibliography) in your submission. Marks will be deducted if it is omitted, not suitably formatted, or lacking more than at least six relevant citations. Use a suitable referencing style such as the Harvard Style or similar. • Don’t be tempted to plagiarise. It is your responsibility to fully understand what constitutes plagiarism, cheating, or collusion and what the consequences for students at University can be for offenders.