It is required to evaluate the criteria used to judge the relative health or success of a family business and to select a minimum of 3 criteria to research. Then to use two of those criteria to evaluate critically Lego Group family business https://www.lego.com/.
This is a research-based evaluation requiring considerable research and critical analysis.
The report must include:
1. Identify and discuss a minimum of 3 criteria that academics and others use to assess the relative success (or health) of a family business.
a. What does success mean to family business?
b. Research academic literature to draw on criteria for assessment of success in family owned businesses. Research peer-reviewed journal articles search for the criteria used to measure or assess success in family owned businesses.
c. Research who else (apart from academics) is involved in assessing or measuring success in family owned businesses. As a starting point the others might include customers, employees, shareholders, industry sector awards (Customer Service Awards, Corporate Social Responsibility Awards), business journalists (Forbes, Harvard Business Review), business authors.
2. Discuss and justify how well Lego Group family business matches up to two (from the original selection of a minimum of 3) of these criteria.
a. It would be sensible to make sure that author fully understand what success means to this business.
b. What is the mission / vision of the business?
c. What is the purpose of the business?
d. What are the core values and aims of the business?
e. It is highly likely that the business itself will judge its success and/or health based on how well they achieve their stated purpose.
f. Consider socio-cultural measures of success (reputation in local/global community, success in serving it etc).
The study will need to demonstrate that the topic has been explored and conclusions can be justified by reference to identified sources.
The research must show depth and breadth of understanding of both theory and practical application.
The study should demonstrate that the author can be critically analytical in applying the selected criteria to the business of Lego Group.
References: academic 5, other minimum 5
Lego Group. (2017). Responsibility Data 2017. Report on Social Responsibility and Diversity, cf. Sections 99a and 99b of the Danish Financial Statements Act [online] Available at: https://www.lego.com/cdn/cs/aboutus/assets/bltb3b9ae6ea716de65/2017-Responsibility-Data.pdf