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Fact Paper

In: English and Literature

Submitted By tlc559
Words 1079
Pages 5
Tim Chou
Spring 2014
Fact Paper

LEGO “It’s not a franchise, it’s a highly sophisticated interlocking brick system,” says Will Ferrell to his adolescent son in the recently released mega blockbuster hit The LEGO Movie. Yellow, vibrant, educational, and fun, LEGO’s have been around for generations. Created by Danish carpenter Ole Kirk Kristiansen in 1932, and derived from the Danish words “Leg Godt” which means “play well”, LEGO’s have made a remarkable recovery from almost being bankrupt in the early 2000s, to the very much alive and thriving business it is now. Jorgen Vig Knudstorp, who came to be the LEGO CEO in 2004, helped them become the most profitable and fastest growing company in the toy industry besides Mattel. Their products are developed with the upmost care; as stated in their motto: “Kun det bedste er godt nok” which means 'only the best is good enough', and is marketed at children but bought and collected and loved by adult fans as well. LEGO’s have not only stood and passed the test of time, it is also a “psychological tool and a way to relax”, quoted by leading psychologist Jon Sutton, and proven to help children’s play, creativity, and imagination.
In the Lego Movie, Emmet Brickowski (The LEGO Movie’s protagonist) uses creativity and intelligent management to save his city of Bricksburg. Coincidentally, the same went for Knudstorp who saved the LEGO Company from almost certain bankruptcy. In the 1990s, LEGO was facing bankruptcy due to a few major reasons. There were a flood of cheap imitators, as well as the stiff competition with Mattel and Hasbro, which resulted in a 40% sales drop in a span of two years. During that time also came the birth of the “video game era”, which quickly swept the competition in the toy market. LEGO was also up to its neck in debt nearing $1 billion dollars. It wasn’t until Jorgen Vig Knudstorp arrived in the…...

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