The LEGO Group: Proactive Risk Management
Company Size
1,000+
Country
- Denmark
Product
- LEGO toys
Tech Stack
- Not mentioned
Implementation Scale
- Enterprise-wide Deployment
Applicable Industries
- Consumer Goods
Applicable Functions
- Business Operation
About The Customer
The LEGO Group is a family-owned company with offices worldwide. The company manufactures one of the world's most beloved toys, Legos. The company believes that 'only the best is good enough' for its products, and this mantra extends to its enterprise risk management program. With a global footprint, The LEGO Group takes a proactive and comprehensive approach to its risk management program.
The Challenge
The LEGO Group, a global toy manufacturing company, has a comprehensive risk management program. The company's approach to risk management is proactive and extensive, and it was recognized as a recipient of the 2015 RMM Recognition Program. The company's risk management program is based on three core processes: an elaborate risk identification method, proactive risk management processes for key business projects, and workshop-based reviews of key strategies and complex initiatives.
The Solution
The LEGO Group's risk management program is based on three core processes. The first is an elaborate risk identification method. The second is maintaining proactive risk management processes for key business projects. The third is conducting workshop-based reviews of key strategies and complex initiatives to ensure their resilience in the face of uncertainty. In addition to these core processes, the company uses board-approved risk tolerance levels to benchmark and measure success. The company also uses the RIMS Risk Maturity Model as a base for prioritization and to foster a risk culture within the organization.
Operational Impact
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