Lego has really be on a roller coaster ride in terms of its business model. It took off and then nearly died and then took off again. Most of us know why it originally became so popular — it had a lock on the imaginations of kids who wanted to build stuff. But what happened next? Check out this Fast Company article that tells the story.
Two takeaways — Lego has implemented an excellent strategic choice, to get closer to understanding why kids like and don’t like its product. That meant some deep thinking and it meant a commitment to experimentation.