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 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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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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Innovation at 3M 3M attributed much of its growth to its innovative products and incremental/extensions of existing products. However‚ of late they hadn’t come up with anything significant and they were stagnating. At this point‚ Ms. Rita Shor implemented the “Lead User Research” methodology to come up with four recommendations on new innovative products and strategy. In my opinion‚ Ms. Shor should put forward their first three recommendations to Mr. Dunlop. They consisted of development of three
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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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Hampton Machine Tool Company On September 14‚ 1979‚ Mr. Jerry Eckwood‚ vice president of the St. Louis National Bank was considering a loan request from a customer located in a nearby city. The company‚ Hampton Machine Too] Company‚ had requested renewal of an existing $1 million loan originally due to be repaid on September 30. In addition to the renewal of the existin- loan‚ Hampton was asking for an additional loan of $350‚000 for planned equipment purchases in October. Under the terms
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3M The article “Strategic Stories: How 3M is Rewriting Business Planning” is a two in one type of article. The author initially discusses the drawbacks of using bullet point in presentations‚ mainly on how it contains lack of information‚ clarity and attention to the audience. The author continues by giving an alternative way of delivering the idea in mind by a strategic narrative style‚ which captures the audience and delivers the points needed to be made effectively. Throughout the article the
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CASE #4: 3M Canada: Industrial Business Division PROBLEM RECOGNITION * The target is to increase growth rate from 3-5% to 12-15% in 18 months * OEM market is mature with limited prospects of expansion * Ultimately shifting overall focus from OEM market to MRO market * High unfamiliarity and low exposure to the MRO market * IBD’s share of distributor sales was 2% of distributors’ revenue * Transitioning focus from Special and Niche accounts to Large National accounts
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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
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HAMPTON MACHINE TOOL COMPANY About The Company Hampton Machine Tool was established in 1915 and has been manufacturing machine tools since its foundation. Hampton company’s customer base is made up primarily of aircraft manufacturers and automobile manufactures in the St. Louis area. It experienced record production and profitability during the years. Sales and profitability declined in the mid-1970s with the withdrawal from Vietnam War and the oil embargo. However‚ the company had stabilized the
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