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II.
III.
that they were executing several new ideas, but little value was
generated from them.
Management lost touch of what made them successful. The hiring
of Poul Ploughman was an epic mistake as he sought to change
what was already a very effective operation. During his tenure
management lost touch with what customers wanted. Prior to the
transition to Knudstorps reign, LEGO was obsessed with novelty.
The firm was so far removed from understanding what their
customers wanted (or even who they were), that these new ideas
failed to create value. Several of the new products were based on
assuming that they knew what the market wanted, not by the actual
research and feedback they received from their customer base. The
innovation the firm created was dwarfed by its flawed strategy. They
thought that the power was in the brand, but in actuality the power
was in the brick.
IV.
V.