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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Abstract The company 3M is a diverse company that was incorporated on June 25‚ 1929 with presence in more than 10 industries alone. “3M products are sold through a number of distribution channels‚ including directly to users and through wholesalers‚ retailers‚ jobbers‚ distributors and dealers in a range of trades in a number of countries worldwide” ("3M Co‚" n.d.‚ para. 1) The company head quarters is located in St. Paul Minnesota‚ however 3M has locations all over the United States. 3M is best known
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There is no need to change basic corporate culture of innovation at 3M. 3M already has impressive internal strengths and in order to avoid further stagnation and increase company’s earnings per share more cohesive and systematic plan is needed. We would recommend the long term strategy development to increase the efficiency and competetiveness of the 3M products. 3M is fundamentally a science-based company. We produce thousands of imaginative products‚ and we’re a leader in scores of markets -
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3M and Norton Evolutionary vs. Classical Strategic Management A Case Study from Jim Collins & Jerry Porras‚ Built to Last‚ 1997 Questions for Discussion (1) 3M’s strategy contradicts nearly everything that an MBA program is supposed to teach you about planning and control. Explain: a. How would marketing studies and product planning benefit 3M in producing more successful products? b. How 3M can expect to survive in the long run if it is unable to compute the return on investment and cash
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1. The Post-It notes‚ due to their innovative nature‚ turned out to be the sort of product which is difficult to describe to people who are unfamiliar with it. A Post-it note solves a problem that people were not even aware they had‚ yet it is just a sticky piece of paper. Doesn’t sound interesting... For these reasons regular advertising campaigns proved ineffective. 2. Silver – invented the adhesive and kept the "project" alive for a long time. Fry – came up with the product idea for Post-it and
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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 organizational
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3M Introduction 3M is fundamentally a science-based company. We produce thousands of imaginative products‚ and we’re a leader in scores of markets - from health care and highway safety to office products and abrasives and adhesives. Our success begins with our ability to apply our technologies - often in combination - to an endless array of real-world customer needs. Of course‚ all of this is made possible by the people of 3M and their singular commitment to make life easier and better for people
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3M CO (Minnesota Mining and Manufacturing) is a company that manufactures all over the world‚ introducing new technologies and marketing a wide scope of products. It is present in the markets of healthcare‚ industrial markets‚ markets of display and graphics‚ consumer and office markets‚ safety‚ security and protection services‚ electronics‚ telecommunications and electrical and transportation. I will make a SWOT analysis of the company‚ discussing its major strengths‚ weaknesses‚ opportunities and
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Individual Research Paper 3M Prepared for: TC Sydney Graduate School of Management By: Surbhi Suri: 16453584 Submitted On: 09/11/2010 EXECUTIVE SUMMARY 3M is a multinational company with branches operating all over the globe. 3M is looking to grow in the new markets for its long term strategy‚ and decided to service China‚ India‚ and Singapore. 3M expansion in the international markets and business strategy is build around its core competency of innovation. 3M has adopted product differentiation
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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
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