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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Thu, 24 May 2007 03:04:42 GMT
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Viewed:
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672 times
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In lugnet.mediawatch, Bryan Wong wrote:
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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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For a few of us, they never lost that trust. I’m one of them.
I am glad to see that TLG is coming back to its core product (Otherwise known
as, “It’s about the BRICK!!!”). If TLG is becoming more stable...that’s great
news to me. We should all be glad.
And, Abner--maybe I’ll go buy an issue. (NOT!) I’ll enjoy the post here and
continue to hope that TLG continues to work for all its fans, young or
“older.”
Play Well and Prosper,
Matthew
“The Brick Detective”
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