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Globalization-Lego

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by

Michael Laudenbach

on 4 January 2013

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Transcript of Globalization-Lego

photo credit Nasa / Goddard Space Flight Center / Reto Stöckli Globalization's effects on a specific company Lego Technological Innovation -In 1947, the Lego group, which had hitherto produced wooden toys, expanded into the growing market for plastic toys and immediately began production
-Since 1963, Lego has used a plastic called acrylonitrile butadiene styrene, which is extremely lightweight and easy to mold.
-Designers are constantly updating software used to produce precise design specifications as well as stress analysis and optimization.
-Lego recycles 99% of all its plastic waste. Benefits of Technology -The robotic machines used in the Lego factory manufacture the toys in a cheaper, faster, and more precise way.
-The software used by Lego engineers allows them to optimize the plastic's capabilities by subjecting it to computer generated tests: a cheaper, faster, and more precise process
-Lego has always been at the forefront of technology in the toy industry, enabling the company to produce more Lego blocks than there are people in the world (64 to 1 to be exact). Diversity -Although a child's creative capacity with Lego blocks is the same no matter the ethnicity, Lego has still managed to diversify its product in order to suit the interests of different demographics, and asigns this task to each of its different design posts located in various different countries
-Lego has grown from multicolored plastic blocks to encompass recognizable icons from the entertainment industry.
-Lego has also produced videogames, television shows, and movies in order to remain connected with the electronically driven generations. Globalization -The Lego Company began in 1934 in Billund, Denmark
-By 1947, the managing director realized the potential revenue of overseas markets, prompting the company to perfect their "building blocks" design.
-Currently, Lego uses its design posts positioned in different countries to test market trends and developments for that area, in order to better its product.
-Lego is now a multi-billion dollar franchise and has become an iconic product representing childhood imagination. Importance of Globalization -In order for a company to reach what is nowadays considered successful, it must globalize.
-Without globalizing a company like Lego, its founder would have ended up running a local toyshop in Denmark that just so happened to make a unique toy, and Lego would not be the name known around the world as it is today.
-If a company wishes to offer its product to the world, broaden its customer base, and increase profits, the only way to do so is through globalization; especially in the modern world which is universally connected through technological advancements, as well as through the companies which have managed to expand globally. Lego Timeline http://en.wikipedia.org/wiki/Lego_timeline
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