Lego Essay

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CRANEFIELD COLLEGE OF PROJECT AND PROGRAMME MANAGEMENT INDIVIDUAL ASSIGNMENT FOR MODULE …M5… Please include the following declaration: “I/We hereby declare that this assignment is entirely my/our own work, and that it has not previously been submitted to any other Higher Education Institution. I/We also declare that all published and unpublished sources have been fully acknowledged and properly referenced. This includes figures, tables and exhibits. Where modified by me/us, this has also been indicated.” Print Name | Signature | ID Number | Richard Wiggill | | 6908245045081 | | | | | | | | | | | | | Table of Contents Executive summary………………………………………………………3 Problems and their causes………………………………………………4 1. Swot analysis- Introduction………………………………………4 2. Lewin’s change model……………………………………………5 3. The three phases Lego endured on their journey to success..6 Questions derived from Exam Question 1……………………………………………………………… …6 Question 2……………………………………………………………….…7 Question 3…………………………………………………….……………8 Executive summary: Lego achieved first place in the Danish top corporate brands. The CEO is concerned that Lego employees will stagnate because of the achievements. The company needs to stay in the market, sustain profits and grow profitability. Crisis struck 2002 when billions were lost. External forces brought change to Lego. Turnaround for Lego requires three-stages to overcome the predicament. 1. Firstly to survive the current financial crisis, sales decline needed halting, debt reduction and focus on cash flow. 2. Short-term profitability enhancement strategy. Lego stuck to the core products and loosened the top down management style once the financial crisis lifted. 3. Long-term growth strategies pursuing organic growth with sales volumes increasing leadership style need yet another change.

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