Topic: How 3M draws up sales and spending forecasts? Questions: 1. Sketch out the 3M organization structure from the board of directors to the production foreman as best as you can from the information in the article Management committee (President‚ seven group vice presidents and nine vice presidents of staff departments) Controller Groups of divisions (Group vice presidents and Group head) Divisions (General managers) Departments (Department managers) Top aides Foreman 2. How many
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Case study « Minnesota Mining and Manufacturing Minn » CONTENTS I. Presentation of the company 1. Brief history 2. Description of the Businesses/products 3. Influence made by the different types of environment II. SWOT analysis III. Organizational focus: 1. Organizational structure 2. Type of structure in relation with the type of business IV. Brief Financial analysis and trends (3 years): 1. Liquidity 2. Equity 3. Debt ratios 4. Profitability ratios 3M Company was founded in 1902
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is the 3M culture. The official vision statement is “to be the most innovative enterprise in the world”‚ and 3M’s basic definition is: “new ideas +action or implementation which results in an improvement‚ gain‚ or profit”. 3M has also coined the word “inventorpreneur” for those who invent and implement. The culture encourages stubborn persistence amongst employees to accept and promote their ideas - “do your own thing”. The culture is taught and conveyed through stories and myth about 3M inventorpreneurs
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Minnesota Mining & Manufacturing Company Case Study Table of contents Table of contents Page 1 Introduction to 3M Page 2 Market and products Page 2 Performance over the last 5 years Page 3 International Marketing Activities Page 4 Miscellaneous Topics Page 6 Appendix 1 Page 7 References Page 8 Introduction to 3M 3M Company‚ the Minnesota Mining and Manufacturing Company‚ was founded in 1902 by five businessmen. They wanted to make a profit out of minerals for grinding
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Case Analysis- 3M Corporation Case Analysis- 3M: Profile of an Innovating Company Introduction Relevant Facts The next invention was the wetordry waterproof sandpaper‚ which came about when an ink manufacturing named Francis Okie asked for samples of every mineral supply in the house. Mr. Okie was persuaded to join 3M as the company first product developer. The wetordry found immediate acceptance in automobile plants and repair shops. The next critical event occurred in 1925 when
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emerged over time? 3M goes back to 1902 when five Minnesota businessmen established the Minnesota Mining and Manufacturing Co. to mine a mineral that they thought was corundum‚ which is ideal for making sandpaper. The mineral‚ however‚ turned out to be low-grade anorthosite‚ nowhere near as suitable for making sandpaper‚ and the company nearly failed. To try and salvage the business‚ 3M turned to making the sandpaper itself using materials purchased from another source. In 1907‚ 3M hired a twenty-year-old
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Innovation at 3M Corporation Case Summary 3M was and still is a worldwide leader in innovation. After a rough start in 1902‚ over decades‚ 3M enjoyed national and global growth as well as a reputation for remaining a hothouse of innovation. In the 1990’s‚ 3M was trying to move away from the incrementalism and it sought to change the mix of new products to truly create something new to the world‚ instead of line extensions‚ which typically had provided two out of three new-product sales dollars
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cInnovation Organisations: The 3M Way Damian Gordon Recommended Reading 3M formerly known as the Minnesota Mining and Manufacturing Company Founded on the North Shore of Lake Superior at Two Harbors‚ Minnesota in 1902 With over 76‚000 employees they produce over 55‚000 products‚ including: adhesives‚ abrasives‚ laminates‚ passive fire protection‚ dental products‚ electrical materials‚ electronic circuits and optical films Richard Drew June 22‚ 1899 – December 14
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INNOVATION AT 3M CORPORATION: CASE STUDY There are two major issues highlighted in this case study: 1. Is the ‘lead-user’ process‚ an effective method for research and subsequent product innovation? 2. Should the Medical-Surgical Markets Division (MSMD) lead-user research team present its revolutionary new approach to treating infection to senior management despite the fact that it challenged the existing business strategy? QUESTION 1 The answer to the first question is ‘yes’. By the
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pursue their inventions. Having said that‚ low rankings employees can’t always get their products up the ladder‚ this is certainly the case for 3M. Products don’t die at 3M‚ but this case study does suggest that many good ideas never materialize to a good product. After all‚ the Post-It success looks a bit miraculous‚ and miracles don’t happen very often. 4. Every 3M researcher gets to spend up to 15% of his time pursuing his own interests. This policy is immeasurable because of the very nature of
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