Friday, September 13, 2019

Case Summary LEGO ( Based on the case reading to answer the four Study

Summary LEGO ( Based on the reading to answer the four questions) - Case Study Example Competition as a criterion for evaluating the different product lines and operations determines what products are the competitors involved in making. Such a criterion goes in hand with lessons learnt, in which LEGO identifies the different areas that require improvement, aimed towards the improvement of future performance. Changes in the marketplace for any product line determine the future that a particular product and organization takes. Regardless of the particular product line, changes are necessary for every organization, as a means of making improvements in areas that have failed, or those that never worked as per the required standards. Toy industry, is indeed an industry that requires significant changes in order to develop products that impress children more. Critical changes needed for the industry include increased innovation, which introduces new products, the establishment of an increased performance competition in the same industry. Additionally, changes contribute to the development of new technologies, an aspect that contributes towards the enhancement and improvement of efficiency and performance, as well as the improvement in quality of the products to meet the demands of the market. LEGO is facing a significant number of internal issues, which are currently affecting the organization’s performance and competitiveness, and which require strategic planning to be effectively addressed. First is management. LEGO, previously, remained a successful player in the toy industry; however, with the continued growth of the company over the years, layers of complexities in operations have been added. Such challenges are attributes of poor leadership and management, and which can only be resolved through strategic planning. Another internal issue of great significance to LEGO is increased production wastes. Costs’ cutting is one of the best ways for an organization to increase its profit margins. LEGO currently experiences high

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