Lego wins through innovation

While competitors are bleeding, the Danish toy-producer and one of my favourite companies, Lego continues to grow and one of the key reasons is a constant focus on innovation.

I have just read an interview with their CEO, Jørgen Vig Knudstorp, who mentioned that Lego focuses on two growth paths besides organic growth in selected geographic markets. One path is the development of products and services that help customers re-think the classic Lego. They do not go into radical innovation – check this earlier post – as they want to stay close to the core of their business; the bricks. An example is their new board game based on Lego bricks.

The other path is driven by Lego’s desire to develop a more holistic approach on innovation. They do not only want to develop new products and services; they also want to innovate on their business model.

I have had the opportunity to meet with Lego several times and have seen their innovation model which clearly has a holistic approach. Unfortunately, I cannot share this with you, but you should take a look at the innovation consultancy Doblin and learn how they develop a holistic mindset through their Ten Types of Innovation concept. Lego is somewhat inspired by this work. Check this link: Doblin Ideas