Entrepreneurship and Innovation: The Impact on the Evolution and Performance of The LEGO Group

Entrepreneurship and
innovation

Table of Contents
Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
The history of the company; -.....................................................................................................1
The mission of the company; -....................................................................................................2
The nature of the innovation and how it came into being, including details where appropriate
of key entrepreneurs underpinning the innovation; -................................................................2
The organisational structure supporting the realisation of that innovation; -.............................3
The networks established in the realisation of that innovation; -................................................3
The impact of the innovation on evolution of the company and company performance; -........4
The broader impact of the innovation outside the company, including any societal impact:.....5
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................8

INTRODUCTION
Entrepreneurship is the act of starting business or businesses in order to make change in
current market and environment of the businesses(Paik, Kang and Seamans, 2019).
Entrepreneurship start with the innovation in the mind set of the person and how they think out
of the box to provide solution of the problems. Entrepreneurs focus on the idea and problems
around them and provide effective solution so that they can create and innovates new product
and services for the individuals. Innovation in the entrepreneurship involves the solution of the
problems so that person can gain advantages from the new product and services in most
appropriate manner. entrepreneurship and management of innovation works effective when the
solution of the current problems is provided by the businesses so that effective outcomes can be
achieved in most appropriate manner. this report is based on The LEGO Group, it is a Danish toy
production organization which is located in Billund. The company best known for the production
of Lego manufacturing toys mostly made of the plastic interlocking plastic bricks. This report
includes information about the history of the organization, mission of the business, nature of the
innovation that company begins. Also this include organizational structure supporting the
innovation, impact of innovation and evaluation of the businesses. In the last it includes impact
of outside businesses innovation.
MAIN BODY
The history of the company; -
The LEGO Group, launched its first brick made of the plant named polyethylene last year.
The sustainable bricks include the new LEGO sets. Company innovate and provide the toy that is
sustainable and increase the level of growth in the market. The three houses of the company
contain highest number of sustainable bricks and it’s the most important step that company take
to fulfil the need of sustainability of LEGO Group( Schmiedeknecht, 2020). Organization has
stated its journey on 10 August 1932 and its founder is Ole Krik Christiansen. The LEGO Group,
become world largest group of toy company by the revenue. The history of The LEGO Group, is
nearly spans of 100 years and with the highest growth and fulfilment of the customer need of
sustainable environment they gain profit and success in the market. Company begins its journey
form Denmark in 1947 to include the toy factories through out the world.
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The mission of the company; -
“ Inspire and develop the builders of tomorrow” their ultimate purpose is to develop and inspire
the thinking process of the children to think in most creative way and shape their future in most
appropriate manner so that effective growth and success in the future can be provided to the
students. form the mission statement company follow its growth and objectives in most
appropriate manner so that effective outcomes can be achieved. They provide the product that
helps the children to analyse their potential and gain effective growth of mind.
The nature of the innovation and how it came into being, including details where appropriate of
key entrepreneurs underpinning the innovation; -
The nature of innovation: the three house of LEGO has been focused on the innovation of
the creative thinking process so that effective outcomes can be achieved and growth can be
gained by the individuals. The company focus on the creativeness in the toy and creative
thinking process of its users so that they can gain better insight about the future growth of the
organization with more innovativeness( Ozkeser 2019). During 2018 LEGO company began
making botanical elements, including threes, leaves, and bushes form the plant based
polyethylene using sustainably sources. This provides improved growth to the children and
provides innovativeness in the thinking process. The three house in the creation of the LEGO
group is the example of effective thinking process and master designs. During the innovation of
the ideas that can help the business to gain effective customer base. LEGO master design the
growth and proficiency of the business so that effective growth can be achieved. the model was
designed by the LEGO group helps to attract the people and encourage them to gain better
objectives and growth in the market.
Entrepreneur under print during the innovation:
Innovation in the business of LEGO group helps to gain better objectives and growth of the
creative assessment of the tools so that effective outcomes can be achieved in most appropriate
manner. LEGO owners create an innovative growth and development of creativeness in the
business so that effective outcomes can be achieved(Hero, and Lindfors, 2019). CEO of
company focuses on making creative product so that the customers can be attract and make
customers more creative so that they can use the toy product. Ole Krik Christiansen become
successful entrepreneur by providing better services and sustainable product and services so that
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