LEGO: The Transformation of a Toy Empire

In 2004, Jørgen Vig Knudstorp was appointed CEO of Lego during a financial crisis. He was tasked with reviving the company, which faced declining sales and significant debt. Knudstorp implemented cultural and operational changes, including reducing the number of unique Lego pieces to cut costs and improve efficiency. He also focused on quality control and divested non-core assets like Legoland to concentrate on Lego's core business. His strategy was to stabilize the company before pursuing growth, ultimately leading to Lego's resurgence.

Describe the changes Knudstorp implemented in Lego's manufacturing process.

What was the impact of the decision to sell the Legoland parks on Lego's business strategy?

How did Knudstorp's approach to growth differ from traditional business strategies?