3M company business strategy
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 within the consumer industry with brands such as Post-it, Scotch, Scotch-Brite, Filtrete, O-Cel-O, Nexcare, and Command. “3M is one of 30 companies in the Dow Jones Industrial Average and also is a component of the Standard & Poor's 500 Index.” ("3M Company Information," n.d., para. 2) As of 2013, 3M has more than 35 business units, managed under five business groups which are consumer, electronics & energy, health care, industrial, and safety & graphics. ("3M Co," n.d., p. 1) 3M has over 87,000 employees worldwide and continues to increase sales and net income.
Business Summary- 3M
“3M was founded in 1902 at the Lake Superior town of Two Harbors, Minnesota by five businessmen set out to mine a mineral deposit for grinding-wheel abrasives. But the deposits proved to be of little value, and the new Minnesota Mining and Manufacturing Co. quickly moved to nearby Duluth to focus on sandpaper products.” ("3M Company Information," n.d., para. 1) After years of struggling, new investors came in and moved the company to its current headquarters of St. Paul Minnesota. “Early technical and marketing innovations began to produce successes and, in 1916, the company paid its first dividend of 6 cents a share.” ("3M Company Information," n.d., para. 3)
“The Industrial and Transportation segment serves a range of markets, such as automotive original equipment manufacturer (OEM) and automotive aftermarket (auto body shops and retail), renewable energy, electronics, paper
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 within the consumer industry with brands such as Post-it, Scotch, Scotch-Brite, Filtrete, O-Cel-O, Nexcare, and Command. “3M is one of 30 companies in the Dow Jones Industrial Average and also is a component of the Standard & Poor's 500 Index.” ("3M Company Information," n.d., para. 2) As of 2013, 3M has more than 35 business units, managed under five business groups which are consumer, electronics & energy, health care, industrial, and safety & graphics. ("3M Co," n.d., p. 1) 3M has over 87,000 employees worldwide and continues to increase sales and net income.
Business Summary- 3M
“3M was founded in 1902 at the Lake Superior town of Two Harbors, Minnesota by five businessmen set out to mine a mineral deposit for grinding-wheel abrasives. But the deposits proved to be of little value, and the new Minnesota Mining and Manufacturing Co. quickly moved to nearby Duluth to focus on sandpaper products.” ("3M Company Information," n.d., para. 1) After years of struggling, new investors came in and moved the company to its current headquarters of St. Paul Minnesota. “Early technical and marketing innovations began to produce successes and, in 1916, the company paid its first dividend of 6 cents a share.” ("3M Company Information," n.d., para. 3)
“The Industrial and Transportation segment serves a range of markets, such as automotive original equipment manufacturer (OEM) and automotive aftermarket (auto body shops and retail), renewable energy, electronics, paper
References: 3M Co. (n.d.). Retrieved from http://www.reuters.com/finance/stocks/companyProfile?symbol=MMM.N 3M Company Information. (n.d.). Retrieved from http://solutions.3m.com/wps/portal/3M/en_US/3M-Company/Information/Profile/Performance/ Http://solutions.3m.com/wps/portal/3M/en_US/3M-Company/Information/Profile/Performance/ Http://www.sec.gov/Archives/edgar/data/66740/000110465913010881/a13-1203_110k.htm#Item1_Business__122819. North Carolina State University. (n.d.). www4.ncsu.edu/.../8-Case%20notes--3M.doc