ABSTRACT
The LEGO Group established its strategic risk management function in 2007. Initially, the function was very humbly project based, but has developed into a sophisticated and active management tool involved in strategy development as well as strategy implementation and execution. The core focus has been simplicity and business impact rather than technical proficiency and accuracy. The approach is based on a combination of three systematic and coherent processes deployed with high level of executive support and attention. It enables management in balancing risk-taking with pursuit of ambitious targets. As is, the LEGO Group has for the past decade been successful well beyond the level of the industry. This chapter is an open and personal description of how the strategic risk management at the LEGO Group approach has emerged over the years as seen from the point of view of the head of strategic risk management, Hans Læssøe. The article also describes how the LEGO Group works with strategic risk management in 2015.
