Lego Executive Chairman: To Innovate, Create a Separate Structure

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CEOs on INNOVATION
This interview is an online-only bonus interview, part our CEOs on Innovation report that appeared in the Fall 2017 issue of Innovation Leader magazine.
The former chief executive of Lego Group, Jørgen Vig Knudstorp, says that established companies, at their core, do two kinds of work: exploitive and exploratory.

Exploitive work involves finding ways to wring more revenue from today’s products and services, and exploratory work involves cultivating concepts that could one day turn into new products and services. “Companies need to tinker,” says Knudstorp, who stepped down as CEO of the privately-held toy company at the end of 2016, but now serves as executive chairman.

We caught up with Knudstorp at a conference organized by the MIT Media Lab in Cambridge, Mass.

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