It is key to stay true to your core consumers or else you can lose your vision in indiscriminate expansion without a strong foundation.
Innovation without expertise can be more damaging than staying embedded in tradition. True innovation is built on the core foundations of a brand.
Disruption needs to grow organically from the core. Manufactured disruption can go horribly wrong.
Simplifying organizational structures and going back to foundational values can help clear confusion and offer direction when in a crisis.
Innovation is more than just product. It is a process and culture that needs to be built into an organisation to bring about real change.
Partnering with your consumers can be truly empowering both for innovation as well as building the brand image.
Diversifying the talent pool is about recruiting multicultural and multidimensional expertise to balance creativity with focus.
Encourage creativity but define parameters of time and budget to challenge ingenious minds and produce successful results.
The LEGO story shows everything that can go wrong with textbook “out of box thinking.” LEGO learnt the hard way that sometimes staying within the box brings fosters greater imagination and productivity by challenging the creative mind with limitations like cost or time.
It took two world wars, the Great Depression, and a spate of personal tragedies to make the iconic plastic brick that would change toy history, forever.
Riding on its half-century-old success story, LEGO was completely blindsided by a cultural shift of interest in the market. This shows how losing touch with your core consumer can lead to disaster even for the most successful firms.
Panicked by its first loss in over 50 years, LEGO went on a diversification overdrive. This offers a lesson in how innovation can go drastically wrong if not done right.
Not wanting to be demolished, LEGO tried to disrupt itself by entering into the digital revolution. It did wrong and proved why disruption can be tough even for the biggest corporate giants.
Nearly driven to the ground by its thoughtless innovation binge, LEGO found itself gasping for survival. Getting back to its foundational values, saved LEGO from extinction.
From ignoring the shift in its consumers’ interests to making customers co-creators for some of its most successful products, LEGO had indeed come a long way. The legendary toymaker partnered with its consumers towards profitability.
Going by the book, LEGO got all the diversification mantras wrong, until it got them right. LEGO got the right mix of creativity and discipline to regain its place as the world’s most-loved toy brand.
(Emeritus Insights on the book by David Robertson and Bill Breen)
I can be reached at gorask@gmail.com and whatsapp number 8800477973 for feedback, suggestions, ideas, collaboration, guest podcasts and other opportunities for working together.
My English Podcast "Lifebook" can be listened on the link https://anchor.fm/sanjay-gora7
My Hindi Podcast "Kitabi Keeda" can be listened on the link https://anchor.fm/sanjay-gora
Books written by me are available on Amazon, Flipkart and Notionpress sites.
https://www.amazon.in/s?i=stripbooks&rh=p_27%3ASanjay+Gora&ref=dp_byline_sr_book_1
https://www.flipkart.com/search?q=sanjay%20gora&otracker=search&otracker1=search&marketplace=FLIPKART&as-show=on&as=off
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