3m Case Study - Example Companies
3M Case Study
1. There are many examples of successful companies. To what extent is 3M justifiably highlighted as the ‘innovating machine’? 3M’s use’s an effective company culture that nurtures innovation and use’s an innovative range of management techniques and strategies that together have delivered long-term success. Some of the techniques 3M is noted for employing are: hiring good people and trusting them; this will bring about innovation and excellent performance. 3M ensured that developing new products is much higher on the agenda in management meetings than at other companies. Moreover, the success of the approach is due to the continual reinforcement of its objectives. Indeed, the performance of individual business managers is partly judged on whether they are able to achieve the objective.
2. In the 3M case study, what is meant by the statement: ‘the message is more important than the figures’?
It’s imperative for the clientele to be educated about the feature and good quality offered to them. To survive in a competitive business world you must create a positive perception in the minds of the clientele While buying consumers won’t focus on the quantity of the product sold in the market neither the revenue earned by the company they rather focus on the features and the benefits they are going to get from the product. Thus to create a positive perception and to educate consumers regarding the service or product offered the use of advertisement is very essential. Thus the need of advertisement is imperative to persuade and communicate the precise and accurate message to the consumers. Proper message assist consumers to make right choice among the available products or services in the market. For this reason it is important to put forward the message rather than the figures to achieve competitive advantage in this immense business world.
3. Discuss the merits and problems with the so-called ‘15 per cent rule’ Consider cost implications
1. There are many examples of successful companies. To what extent is 3M justifiably highlighted as the ‘innovating machine’? 3M’s use’s an effective company culture that nurtures innovation and use’s an innovative range of management techniques and strategies that together have delivered long-term success. Some of the techniques 3M is noted for employing are: hiring good people and trusting them; this will bring about innovation and excellent performance. 3M ensured that developing new products is much higher on the agenda in management meetings than at other companies. Moreover, the success of the approach is due to the continual reinforcement of its objectives. Indeed, the performance of individual business managers is partly judged on whether they are able to achieve the objective.
2. In the 3M case study, what is meant by the statement: ‘the message is more important than the figures’?
It’s imperative for the clientele to be educated about the feature and good quality offered to them. To survive in a competitive business world you must create a positive perception in the minds of the clientele While buying consumers won’t focus on the quantity of the product sold in the market neither the revenue earned by the company they rather focus on the features and the benefits they are going to get from the product. Thus to create a positive perception and to educate consumers regarding the service or product offered the use of advertisement is very essential. Thus the need of advertisement is imperative to persuade and communicate the precise and accurate message to the consumers. Proper message assist consumers to make right choice among the available products or services in the market. For this reason it is important to put forward the message rather than the figures to achieve competitive advantage in this immense business world.
3. Discuss the merits and problems with the so-called ‘15 per cent rule’ Consider cost implications