Successful change management How can a company whose success is based on simple small plastic building blocks generate attention in the digital age By taking everything that made this success possible - the fun the playful the imagination - and translating it into the digital world in the form of TV shows films and video games. But at the same time - and this is most important - Lego continues to produce the colorful plastic bricks that made the company successful in the first place to the delight of children fans and collectors.
In other words Lego maintained a strong brand essence while trying new strategies. Meanwhile Lego's foray into the entertainment business was a roaring success films and video games based on Star Wars Marvel heroes and Batman and proprietary brands like Bionicle Ninjago and The Lego Movie took the brand and its products Specific Database o a new level Generation. In 0 Lego had sales of more than $ billion almost $ billion more than five years earlier. We can learn this for change management Small companies have to face changes whether they want them or not. They either ignore the change and see their business become irrelevant or they take the reins into their own hands and become a part of the future.
Keeping the core of the company intact is just as important as embracing change and exploring exciting new avenues. In other words be careful not to throw the baby or the Lego brick out with the bathwater. But don't wait until you've already seen a drop in sales before considering a change. Small companies should recognize the signs of the times and actively use new realities to create a competitive advantage. The following signals clearly indicate that it is time for change Your sales and market share are falling month after month and year after year.