Rating: ****
Tags: Business & Economics, Management, Decision-Making & Problem Solving, Corporate & Business History, Lang:en
Publisher: Crown
Added: October 3, 2020
Modified: November 5, 2021
Summary
Sometimes radical yet always applicable,
Brick by
Brick
abounds with real-world lessons for unleashing
breakthrough innovation in your organization, using
LEGO--which experienced one of the most remarkable business
transformations in recent history --as a business
model.****
As LEGO failed to keep pace with the revolutionary changes
in kids' lives and began sliding into irrelevance, the
company's leaders implemented some of the business world's
most widely espoused prescriptions for boosting innovation.
Ironically, these changes pushed the iconic toymaker to the
brink of bankruptcy, showing that what works in theory can
fail spectacularly in the brutally competitive global
economy. It took a new LEGO management team--faced with the growing
rage for electronic toys, few barriers to entry, and
ultra-demanding consumers (ten-year old boys)--to reinvent
the innovation rule book and transform LEGO into one of the
world's most profitable, fastest-growing companies.
Along the way,
Brick by Brick reveals how LEGO:
- Became truly customer-driven by co-creating with kids as
well as its passionate adult fans
Whether you're a senior executive looking to make your
company grow, an entrepreneur building a startup from
scratch, or a fan who wants to instill some of that LEGO
magic in your career, you'll learn how to build your own
innovation advantage, brick by brick. **
- Looked beyond products and learned to leverage a
full-spectrum approach to innovation
- Opened its innovation process by using both the
"wisdom of crowds" and the expertise of elite cliques
- Discovered uncontested, "blue ocean" markets, even as
it thrived in brutally competitive red oceans
- Gave its world-class design teams enough space to
create and direction to deliver built a culture where
profitable innovation flourishes