3m Strategy

Topics: 3M, Minnesota Pages: 3 (757 words) Published: February 10, 2013
3M Strategy

1) How does your company handle strategy?

How does your company handle strategy? Minnesota Mining and Manufacturing, also known as 3M, is one of the world's premier manufacturing companies. The 3M Company handles strategy like mostly any other business. The number one reason people go into a business is because they want to make as much money as possible. This can be accomplished if they have a strategic approach to it. For example, the most important strategy that 3M uses is selling a number of different products. They do not just sell one particular item. They sell a plethora of useful tapes, adhesives, and other useful products. These different tapes and adhesives can get all different types of jobs done. Some of the different types of products are abrasives, adhesives, animal care, automotive items, bioanalytical, commercial cleaning, electrical, electronic, engineered additives, fire protection, food services, home and office, marine, matting and treads, personal care items, professional health care, safety, tapes, and items for touchscreen displays.

3M has a strategy that is special because they do not have a rival in most of the products that they sell. This makes them a unique powerhouse of a business. When it comes to all of the different products that they offer, it is difficult for any of their competitors to catch up to 3M’s new and innovative products. The company is able to create new products by focusing on technologies that have definite competitive advantages and large growth potential. Furthermore, 3M is also focused on market leadership, technical innovation, customer focus, global reach and employee initiative. At 3M, employees are required to be creative and innovative. It does not matter if you make mistakes, because sometimes a mistake can turn into a great success for the company. 3M also invests millions of dollars into research and development. The company believes if they want to stay ahead, they have to constantly...
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