DUBLIN EVENT TO HEAR OF LEGO LESSONS - Christian Majgaard of Lego spoke at a Dublin Chamber of Commerce business breakfast this morning.
Lego is a company which almost did not make it when faced by tough competition, but it recovered and is now the number three toy company in the US.
Asked about the lessons to be learned from the company's turnaround, Mr Majgaard said building a brand was a long-term project and did not happen overnight.
He also said some of the more important decisions made at Lego were taken during crises, as people were more open to ideas at these times. He said Lego had moved into areas such as robotics as a long-term and strategic move, and margins at the start were poor.
Asked what Irish businesses should do, he said they should look at the customers they really wanted to have, and focus their business on satisfying those customers.
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NEWS IN BRIEF AND CURRENCIES - Online payments company PayPal has announced 150 new jobs at its European operations in Dublin.
On the currency markets, the euro is trading at $1.35 and 83p sterling.
