3M Strategy

Topics: Brand, Innovation, 3M Pages: 10 (2377 words) Published: March 4, 2014


Submitted to: Prof. Ray Titus
Submitted by: Group 1 Alok
Aswathy
Ashwini
Nayanshree
Sai Sujeetha
Shivani
INTRODUCTION

The 3M Company, formerly known as the Minnesota Mining and Manufacturing Company, is an American multinational conglomerate corporation based in St. Paul, Minnesota. 3M headquarters are in the St. Paul suburb of Maplewood, Minnesota. Five businessmen founded 3M in Two Harbors, Minnesota, in 1902. Originally a mining venture, the goal was to mine corundum, but this failed because the mine's mineral holdings were anorthosite, which had no commercial value. During the 1950s, the company expanded worldwide with operations in Canada, Mexico, France, Germany, Australia, and the United Kingdom in large part by Clarence Sampair. In 1951, international sales were approximately $20 million. 3M’s achievements were recognized by the American Institute of Management naming the company “one of the five best-managed companies in the United States" and included it among the top 12 growth stocks (3M). 3M’s investment in communities, where the company operates, reflects the philosophy and practice of our governing principles since 1908.  Messrs. William L. McKnight and Archibald Bush, early 3M leaders, understood the importance of community vitality to business success.  Community engagement was encouraged at all levels of the company.  Junior Achievement was 3M’s first volunteer program and dates back to 1949.   To formalize 3M corporate philanthropy, the 3M Foundation was established in 1953, during the same year of the formation of the respective McKnight and Bush Foundations. Since 1953, 3M and the 3M Foundation, coming together under the banner of 3Mgives, have invested $1.3 billion in cash and product in 3M communities around the world. Today, Belgium, Spain, Italy and Brazil maintain their own foundations and all other international subsidiaries manage corporate giving programs benefiting education, social services or the environment. With $30 billion in sales, 3M employs 88,000 people worldwide and produces more than 55,000 products, including: adhesives, abrasives, laminates, passive fire protection, dental products, electronic materials, medical products, car-care products (sun films, polish, wax, car shampoo, treatment for the exterior, interior and the under chassis rust protection), electronic circuits, and optical films. 3M has operations in more than 65 countries including 29 international companies with manufacturing operations and 35 companies with laboratories. 3M products are available for purchase through distributors and retailers in more than 196 countries, and online directly from the company. 3M’s general offices, corporate research laboratories, and certain division laboratories are located in Maplewood, Minnesota. In the United States, 3M has nine sales offices in eight states and operates 74 manufacturing facilities in 27 states. Internationally, 3M has 148 sales offices. The Company operates 93 manufacturing and converting facilities in 32 countries outside the United States. 3M owns substantially all of its physical properties. Because 3M is a global enterprise characterized by substantial intersegment cooperation, properties are often used by multiple business segments including Integrity Supply. Selected factory detail information:

Cynthiana, Kentucky, USA factory producing Post-It notes (672 SKU) and scotch tape (147 SKU). It has 539 employees and was established in 1969. Newton Aycliffe , County Durham, UK factory producing respirators for workers safety, using laser technology. It has 370 employees and recently there was an investment of £4, 5 million ($7 million). More than 35 business units, organized into six businesses:

Consumer and office
Display and Graphics
Electro and Communication
Health care
Industrial and Transportation
Safety, Security and Protection services

Vision, Objectives &...

References: 3M. (2007). Retrieved September 1, 2007, from Hoover’s Web site: http://hoovers.com/3m/-- ID__11003--/free-co-factsheet.xhtml
http://www.3m.com
3M company (2010). Retrieved April 2010; by the World Market Intelligence
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