Understanding Business Essay, UWS, Malaysia Nothing highlights the dynamic nature of business more than the rise of social media. As tablets, iPhones, e-readers

Nothing highlights the dynamic nature of business more than the rise of social media. As tablets, iPhones, e-readers, and cell phones of all kinds are used 24/7 this creates great opportunities for businesses to be in permanent interaction with their customers and (most preferably) their fans.

One of the people using this trend to reach consumers is Peter Espersen of the Lego Group. Peter, also known on Twitter as @VirtualPeter, is the Online Community Lead of the Danish-based Lego company. Still privately held by the Kirk Kristiansen family, who founded the Lego brand in 1932, the Lego Group is engaged in the development of children’s creativity through playing and learning.

Based on the world-famous LEGO(r) brick toys, experiences, and teaching materials are provided for children in more than 130 countries. Yet, it’s not just young children. Also, older ones, let’s say children with an average age of over 40 … Peter is involved in that, using a social media platform called ReBrick.

ReBrick serves as a hub for various fan sites made by mostly more mature Lego enthusiasts around the globe, but it also serves for creations devotees post on YouTube and Facebook. The aim of Peter and his Lego social media gang is to provide a go-to site for fans, so they can connect with other fans in different parts of the world, showing their amazing creations to one another and sharing their passion for the brand, its products, and the endless possibilities Lego brings to create megabuildings, supercars, Jurassic animals, fire-places, Lord of the Rings characters and so on. With ReBrick Lego provides an index and user-friendly access to these latest and greatest user-made creations.

ReBrick shows the ability of the more than 80-year-old company to constantly adapt to technological and social changes. By staying close to its origins−the plastic LEGO Brick − the world’s third largest manufacturer of play materials is able to stay viable in a constantly changing “business game” with the evolving wants and needs of its customers: not only by using e-commerce opportunities Lego.com or Amazon. combat by imaginatively using new technologies to create interactive platforms having fans from all over the world helping them out.

According to Peter, more than 500 people from inside and outside the Lego Group helped shape the ReBrick hub, from the site design to the development of the house rules. And nowadays both Lego employees and community members together still moderate the site. Lego and its fan community will keep working hand in hand in the development of this ever-evolving platform, creating even more lasting customer-company relationships.

Businesses are constantly trying to adapt to the wants and needs of their customers and to the technologies that those customers are using. This chapter will introduce you to entrepreneurship in general and some of the many changes occurring in businesses today. As you learn more about businesses and nonprofit organizations, you will see that adapting to changing times is a constant necessity.

Answer

Request Answer of this Assignment