LEGO has been using open innovation for the past 10 years to bring new playsets to market. As they strive to stay relevant while the line between toys and consumer electronics starts to blur, how will they revamp their strategy and consequently product development process to accommodate?
Lego was facing financial distress in the mid-2000s. In this time of turmoil, it turned to open innovation to restart its business.
How LEGO's legion of global fans helped the company drive value from open innovation.
LittleBits, the maker of magnetic electronic building blocks, utilizes open innovation to share inventions, troubleshoot problems, generate excitement for Science, Technology, Engineering, and Math (STEM) in schools, and make hardware design accessible to everyone.
After avoiding bankruptcy in 2003, LEGO has effectively used open innovation to align with customer demands and to become a global leader in toy innovation. Now, can LEGO’s use of open innovation maintain its growth with increasing digital competition?
Since 1998, LEGO has been leading the way in Open Innovation – finding success in sourcing new ideas from an active online community of dedicated LEGO fans. Twenty years later, how can the iconic brick behemoth continue to harness the excitement of their passionate consumers to stay successful in the competitive and challenging toy and games arena?
LEGO's supply chain accounts for 90% of the total Co2 emission produced by LEGO bricks– now LEGO is taking action to help suppliers reduce their Co2 footprint
A look into how circular economy practises can be applied to address critical climate change issues facing Mattel, a global toy producer.