Subject:
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Re: LEGO® Group The world’s most reputable company of 2007
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Newsgroups:
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lugnet.mediawatch, lugnet.general
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Date:
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Wed, 23 May 2007 21:17:56 GMT
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Viewed:
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734 times
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In lugnet.mediawatch, Abner Finley wrote:
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LEGO® is No.1 of 600 companies for 2007
May 23, 2007 Fobes.com By Tara Weiss
The world’s most reputable companies:
These business have products consumers want — and their trust
http://www.msnbc.msn.com/id/18805466/
With all the bad news recently about corporate scandals you might be forgiven
for wondering which companies actually have good reputations.
For the eighth year, Reputation Institute, a New York City-based consultancy
and research firm, conducted a study to find the answer. This year’s winner
is LEGO. Yes, LEGO, the 70-year-old Danish toy manufacturer, scored No. 1
of 600 companies worldwide.
Sure, you think LEGO and fond childhood memories of those clickable plastic
blocks come to mind. But what about other feel-good companies like the Walt
Disney Co. and Johnson and Johnson? Those companies made the list too — No.
38 and No. 35, respectively. But what did LEGO do to beat the competition?
Its high standing likely has to do with a recent turnaround, says Charles
Fombrun, executive director of Reputation Institute. LEGO got off track a few
years ago, he says, venturing into online gaming and movies. It didn’t manage
those areas well and, as a result, suffered financially. “They ventured
farther afield, and their brand got diluted,” says Fombrun. That prompted
leadership changes and negative press reports.
In recent years though, “they engineered a turnaround by pruning their lines
of business,” says Fombrun. “Now what we’re seeing is the result of the
turnaround. There’s more stability.”
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It’s interesting how the change they implemented around 2003/04 created a huge
schism within the AFOL community, but really had no major effect whatsoever on
how the average consumer views/viewed TLG. TLG probably lost a lot of our
trust because of that move, but by including us in their product development,
I’m sure they’ve started to win it back.
-Bryan
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