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Strategy from Lego

Check out this interesting interview with the former CEO of Lego from 2014.

Here are some of my highlights:

for 2 years, we didn’t have a strategy; we had a detailed action plan

companies don’t die of starvation, they die of indigestion

Less talk, more action: you can’t think yourself more effective

They tracked their performance on a whiteboard – in red and green, so things were easy to see.

[turning up at production meetings] by being in the room, I send a signal that it’s important [and other people started showing up]

When Wal-mart visits Lego and Lego offer a coffee, the Wal-mart person leaves $1 on the table, because their whole strategy is about cost

Lego manufacture 30 pieces a minute, 25 billion pieces a year.

the CEO needs any avenue to the truth that he/she can find

you need to carve out reflection time.

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