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- Herausgeber: Business Book Summaries
- Kategorie: Religion und Spiritualität
- Sprache: Englisch
The must-read summary of David C. Robertson and Bill Breen's book: "Brick by Brick: How LEGO Rewrote the Rules of Innovation and Conquered the Global Toy Industry".
This complete summary of the ideas from David C. Robertson and Bill Breen's book "Brick by Brick" explains innovation through the story of the LEGO Group. LEGO was founded in 1932 and through sheer grit and determination it grew into a multi-billion-dollar enterprise. However, at the end of the twentieth century, LEGO found itself fading as the digital world arrived. This summary highlights how LEGO's new management team developed a practical approach to innovation and as a result the company emerged from its near death experience to become one of the world’s fastest-growing and most profitable toy companies.
Added-value of this summary:
• Save time
• Understand key concepts
• Expand your business
To learn more, read "Brick by Brick" and discover the story behind the world's biggest toy company, LEGO.
Das E-Book können Sie in Legimi-Apps oder einer beliebigen App lesen, die das folgende Format unterstützen:
Seitenzahl: 38
Veröffentlichungsjahr: 2014
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Book PresentationBrick By Brick by David C. Robertson with Bill Breen
Book Abstract
About the Author
Important Note About This Ebook
Summary of Brick By Brick (David C. Robertson with Bill Breen)
Book PresentationBrick By Brick by David C. Robertson with Bill Breen
Book Abstract
MAIN IDEA
LEGO is one of the world’s most recognized brands. Every year, LEGO factories churn out more than thirty-six billion new LEGO pieces – about 2.2 million bricks an hour. Yet for all of LEGO’s many accolades, very few people know much about The LEGO Group, the small family-owned company which is headquartered in Billund, a rural part of Denmark.
That lack of attention to The LEGO Group is unfortunate because the LEGO corporate story is highly illuminating. The company was founded in 1932 and through sheer grit and determination had grown into a multi-billion-dollar enterprise on the back of decades of unbroken sales growth. For all that success, however, at the end of the twentieth century, LEGO found itself fading as the digital world arrived. In 2003, the LEGO Group announced the biggest loss in its history and the company was on the brink of insolvency.
What’s interesting was LEGO reached that point by aggressively following seven of the most common theories of innovation which are widely circulated in the business world today. With the company in danger of imminent failure, a new management team was installed and they set about taking those academic prescriptions for innovation and reinventing them and synthesizing them. In essence, the new management team developed a practical approach to innovation that works.
The result? LEGO emerged from its near-death experience to become the world’s fastest-growing and most profitable toy company. In the middle of a global recession, LEGO’s pretax profits trebled from 2007 to 2011 as the company grew its profits faster than Apple and many other heavyweights of the innovation world. LEGO could just go down in business history as the world’s most spectacular turnaround story.
“Continuous innovation must be a product of an organization’s capacity to learn and adapt. We hope LEGO will continue to thrive, because a world with LEGO in it is a little smarter, a little more creative and a lot more fun.”
– David Robertson and Bill Breen
About the Author
DAVID C. ROBERTSON was professor of innovation and technology management at IMD in Lausanne, Switzerland from 2002 through 2010. He joined the faculty of the Wharton School at the University of Pennsylvania in 2011 and now serves as professor of practice. While at IMD, Dr. Robertson was co-director of the school’s largest executive education program which served leading European companies like Credit Suisse, EMC, HSBC, Skanska and BT. Dr. Robertson is a graduate of MIT and the University of Illinois.
BILL BREEN is a member of the team which launched Fast Company magazine. He served as senior editor for Fast Company for several years before becoming a full-time author. At Fast Company, he specialized in writing articles on competition, innovation, and personal success. Mr. Breen is the coauthor of The Responsibility Revolution and The Future of Management.
Important Note About This Ebook
This is a summary and not a critique or a review of the book. It does not offer judgment or opinion on the content of the book. This summary may not be organized chapter-wise but is an overview of the main ideas, viewpoints and arguments from the book as a whole. This means that the organization of this summary is not a representation of the book.
Summary of Brick By Brick (David C. Robertson with Bill Breen)
1. The Seven Truths of Innovation and LEGO’s Decline
The arrival of video games, MP3 players and high-tech goodies in the global toy marketplace at the end of the twentieth century heralded a new challenge for LEGO. While the company has always been innovative, it suddenly found itself in catch-up mode. In response, LEGO rolled out an ambitious growth strategy based on seven of the most widely heralded innovation theories of the business world. These ideas – which seemed to work wonders for other companies – almost sank LEGO and it looked like the company was in a death spiral.
LEGO came into being in 1934. It was founded by Kirk Christiansen in a small carpenter’s workshop located in Billund, Denmark. The company took its name from two Danish words: leg godt
