Hasbro CEO Chris Cocks on the Toy Company’s Future [Video]

Entrepreneur caught up with Chris Cocks, CEO of 101-year-old toy company Hasbro at Collision conference in Toronto. The conference brings together business and tech leaders to discuss industry trends and innovation. It was a wide-ranging conversation addressing everything from the company’s nimble approach to change to some of Cocks’ most cherished toys. Below is a Q&A with the business leader, which has been edited and condensed for clarity.

Entrepreneur: Hasbro has a long and storied history. How does the company stay innovative in an evolving toy industry?Cocks: Fundamentally, it’s about understanding the consumer and then putting super creative people who are passionate about the consumer in charge. That’s what we did at Wizards of the Coast when I was there for six years, and that’s what we’re doing at Hasbro.

In that vein, how do you balance tradition and innovation at Hasbro?It’s not so much balancing traditionand innovation; it’s understanding where you’ve been so …