Currently, 39 sets have been produced that are successful in the market. Lego is a good example of how a company can attract fans through open innovation. Just over a decade later, in 2015, with $600 million in profits, Lego became one of the powerful brands. Once the design is chosen for production, the designer receives reward & recognition. If a design receives 10,000 votes from the community, Lego begins internal design evaluation and possibly product development processes. The Lego user community then votes on these ideas. In this time of turmoil, Lego launched LEGO Ideas in 2008, a project based on an open innovation model that invites fans to submit new product ideas. The Danish toy company's sales were falling, and its future seemed gloomy. In 2003, Lego was facing an $800 million debt. Here are two organisations case studies-LEGO and NASA-that have achieved new heights through open innovation.įor over 75 years, LEGO has been making toys for kids and teenagers. The open innovation strategy has been used by a large number of organisations globally with varying degrees of success. Time demands greater focus on how innovation is done, and the game-changing trend is towards the open innovation approach. A new proposition is crucial to the competitiveness of every organisation, and if organisations are not constantly innovating, they will not survive.Īs a consequence, here comes the need for innovation to grow, win new opportunities, get actionable solutions, resolve issues, manage failures, mitigate risk, and formulate business strategy.
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