Incorporating History into Innovation: A Case Study of LEGO

DOI

10.2991/aebmr.k.220307.259How to use a DOI?

Keywords

“incremental innovations”; “drastic innovations”; “ risk”; “consumer response”

Abstract

In the current global economy, innovation is a key factor for a company to survive and grow on the long run. However, few research has looked into the proper application of innovation strategies. In this paper, I propose a 2 by 2 theoretical framework in how to apply the concept of incremental innovations and drastic innovations given good or flawed business fundamentals. This paper aims to demonstrate the theoretical frame by a series of extensive case study discussion of Lego. The case study examples range from consumer responses to new products to organizational changes. This paper contributes to the literatures by building on innovation theories and discussing the application of innovation strategies in a generalized way. This paper contributes to managerial insights by outlining a generalized innovation application framework for managers’ day-to-day decision making.

Copyright

© 2022 The Authors. Published by Atlantis Press International B.V.

Open Access

This is an open access article under the CC BY-NC license.

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TY  - CONF
AU  - Lukuan Zou
PY  - 2022
DA  - 2022/03/26
TI  - Incorporating History into Innovation: A Case Study of LEGO
BT  - Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022)
PB  - Atlantis Press
SP  - 1582
EP  - 1589
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.220307.259
DO  - 10.2991/aebmr.k.220307.259
ID  - Zou2022
ER  -