Lessons from Lego: Low risk innovation tools for everyone!

Lessons from Lego: Low risk innovation tools for everyone!

LEGO's success story can be attributed to their low-risk innovation strategies which saved the company from bankruptcy in 2004. By restructuring, hiring a new CEO, and introducing more licensing partnerships, LEGO managed to turn things around. One of their key strategies was embracing their creative fan base for design ideas and developing open innovation policies through the LEGO Ideas portal. They also employed rapid prototyping techniques and embraced new trends in knowledge sharing and software delivery. The book Innovation Tools outlines these successful techniques and explains why innovation is important for businesses.

View

More Innovation Resources:

Prezi for Beginners – Guest Post by Lesley Heizman

Prezi is a presentation tool that eliminates slides and allows you to create a visual journey of your ideas.

View

Putting the solution cart before the innovation horse

Many companies are skipping the necessary discovery work to select technologies or solutions and using innovation to validate their selections. This leads to poor outcomes and undermines the potential for true innovation.

View

Quality and Compliance: Friction or Enabler?

Friction departments like quality and compliance can either inhibit or enable innovation. To make them enablers, companies should treat them as allies, integrate them within the business, and create test and learn environments. It is essential to balance customer centricity and compliance when innovating.

View