...Marketing Fudamentals June 17, 2014 3M Case Post-it. Preguntas 1. A) ¿Cómo obtuvo David Windorski ideas de los estudiantes universitarios que le ayudaron a diseñar la versión comercial final de marca textos con banderitas Post-it? B) ¿Cuál fue la importancia de estas ideas para el éxito del producto? 2. ¿Que A) Ventajas especiales y B) problemas potenciales tuvo 3M al introducir un nuevo producto de marca textos con banderitas para los estudiantes universitarios en 2004? 3. Visite su librería universitaria antes de responder A) ¿dónde exhibiría el marca textos con banderitas Post-it en una librería universitaria? B) ¿de qué modo puede usted lograr que el exhibidor comunique al mayor número de estudiantes la existencia del producto? 4. ¿de qué manera podría 3M promover su marca textos con banderitas Post-it para que los estudiantes se den más cuenta de la existencia del producto? 5. ¿Cuáles son A) las oportunidades particulares y B) los desafíos potenciales para 3M derivadas de llevar su marca textos con banderitas Post-it a los mercados internacionales? C) ¿en qué países debería 3M concentrar sus esfuerzos de marketing? Questions 1. (a) How did 3M’s David Windorski get ideas from college students to help him in designing the final commercial version of the Post-it® Flag Highlighter? (b) How were these ideas important to the success of the product? 2. What (a) special advantages and (b) potential problems did 3M have in introducing a new highlighter-with-flags...
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...3M Case Study (4) “3M has been known for decades as an entrepreneurial company that pursues growth through innovation. It generates a quarter of its annual revenues from products less than five years old. 3M started life as the Minnesota Mining and Manufacturing Company back in 1902. Its most successful product - flexible sandpaper - still forms an important part of its product line but this now comprises of over 60000 products that range from adhesive tapes to office supplies, medical supplies and equipment to traffic and safety signs, magnetic tapes and CDs to electrical equipment. Originally innovation was encouraged informally by the founders, but over more than a century some of these rules have been formalized. But most important of all there has built up a culture which encourages innovation. And because this culture has built up a history of success, it perpetuates itself.” 3M is a global innovation company that never stops inventing. Over the years their innovations have improved daily life for hundreds of millions of people all over the world. They have made driving at night easier, made buildings safer, and made consumer electronics lighter, less energy-intensive and less harmful to the environment. Every day at 3M, one idea always leads to the next, igniting momentum to make progress possible around the world. Innovation is a way of life. It’s a deliberate, ongoing and persevering process of discovery, a curiosity for the new and a passion for making things better...
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...What actions, policies, strategy are used by the selected organization to motivate innovations among its employees? 3M Company, previously known as the Minnesota Mining and Manufacturing Company is an US MNC. They focus on two core themes – Deep technological competence and Strong product development capabilitie. * Setting stretch targets – such as demarcation of profit generated from X product in Y year sets benchmark for others. * Allocating resources as “Slack” – Ample of space, time and opportunity to grow. * Encouragement of “bootlegging” employees working on innovative projects. * Access to resources in a non-formal manner. * Different levels of Venture capitalist and provision to stag resource for innovators. * Intra-Entrepreneurship – Letting people take their idea forward within the organization and without having them leave. Are innovations are introduced by individuals or teams? 3M has department demarcation at various levels. For instance, they not only address the one who has done a great innovation but also the ones who have put in a lot of effort for the product; therefore having an award for effort rather than achievement. At 3M, the strategy is to reward the one who is actually involved in the process hence enabling everyone to come forward. If it is group effort, it will be introduced by the group leader having all the members recognized and if it’s in an individual effort; he/ she will also reckon the people who have...
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...Harvard Business School 9-395-016 January 3, 1995 3M: Profile of an Innovating Company As a perennial winner in Fortune magazine’s annual poll of American CEOs to determine “The Ten Most Admired Corporations,” 3M was almost universally recognized as one of the world’s most consistently innovative companies. Indeed, Fortune described it as “a kind of corporate petri dish that fosters a culture of innovation.” In an era when large companies were struggling to reignite employees’ entrepreneurial spark, 3M was the benchmarking standard. Yet, in November 1991, as “Desi” DeSimone assumed the job of CEO in the midst of a worldwide recession, he was more focused on 3M’s uncertain future than on its glorious past. Beyond the stagnating sales and declining margins he knew would be reflected in his first annual report (see Exhibit 1), DeSimone was aware that the company faced some longer term challenges. With a portfolio of over 100 core technologies being leveraged into some 60,000 products which it sold in 200 countries, some observers were beginning to ask whether this $14 billion giant with over 88,000 employees could continue its extraordinary innovation-powered growth and expansion. It was a question that the new CEO knew he would have to confront honestly. A lot more than the continued admiration of his Fortune 500 peers depended on it. The Beginning: Foundations of 3M’s Values In 1902, on the basis of a report that deposits of corundum, an abrasive mineral, had been found...
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...Question 1 There are many examples of successful companies. To what extent is 3M justifiably highlighted as the ‘innovating machine’? Answer: This case study has highlighted some of the key activities and principles that contribute to 3M’s performance. Many of these are not new and are indeed used by other companies. In 3M’s case they may be summarized as an effective company culture that nurtures innovation and a range of management techniques and strategies that together have delivered long-term success. Many companies pay lip service to the management principles and practice set out in this case study. There is evidence that 3M supports these fine words with actions. 3M hire good people and trust 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. Question 2 In the 3M case study, what is meant by the statement: ‘the message is more important than the figures? Answer: The 15 per cent rule does not make so much sense, some employees use more than 15 percent of their time on projects of their choose, on the other hand some employees use less than that and some none at all. The figure is not so important as the message, meaning...
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...Post it Notes – Case Study Questions Question 1 In the development of this product, how did the creative thinking process work? Describe what took place in each of the four steps. . The Post-It Notes case has clearly illustrated the 4 phases in creativity development and each step has demonstrated by the inventor of Post-It Notes as described below: * Background or knowledge accumulation This phase was demonstrated by Art Fry who is the inventor of Post-It Notes whereby he recalled about the adhesive invented by Dr. Spencer Silver from a seminar he attended in the past. He approaches the R&D department to gather a background information and knowledge about adhesives that developed by Dr. Spencer Silver. * The mind incubation process This incubation process occurs while Art Fry singing in the church choir. Most of the time, the bookmark kept failing out of his hymnal, causing him to lose his page while performing. This prompted him to find a solution or something that could adhere to the page but not tear it. He went on to explore the possibility with the helps from R&D team and managed to find a low-tack adhesive that turn out to be a perfect solution to prevent the bookmark falling out. * The idea experience As Fry’s idea of applying the low-tack adhesive on the bookmark was proven an effective solution, he begin to realize that the same concept could possible turn into a new product. * Evaluation and Implementation This phase was demonstrated...
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...Innovation, ideas and solutions for a modern world 1 Introduction – A Century of Innovation 3M is a global diversified materials science company and a powerful, diverse and integrated enterprise. Although 3M identifies its core competency simply as “applying coatings to backings”, the company’s operations extend far beyond this. 3M, famous for its consumer brands such as Scotch® Tape and Post-it ® Notes, also creates thousands of industrial products used by manufacturers and service providers to create their own products. From its beginnings in 1902 as Minnesota Mining and Manufacturing, 3M has grown to achieve sales revenue of $US25.3 billion and an operating income of $US3.5 billion in 2008. The company has over 79,000 employees with approximately 13 percent employed directly as technical staff. As a truly global presence, 3M services almost 200 national markets, and operates subsidiary companies, such as 3M Australia, in more than 60 countries. Almost 64 percent of 3M’s entire sales revenue originates from international operations. With a vision “to be the most innovative enterprise and preferred supplier in the markets we serve”, 3M prides itself on its history of innovation – reinforced through its brand promise, “practical and ingenious solutions that help customers succeed”. Key values underpinning 3M’s continual success include its commitment to: • Satisfy our customers with superior quality and value • Provide investors with an attractive...
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...Case Question 1: With reference to the case study, provide one example with a paragraph of not more than 5 lines, which clearly illustrate a link between topics or theory/ concepts drawn from at least 2 modules you have studied. SWOT Analysis concept is a structured planning method used to identify strengths and weaknesses and also broader opportunities and threats to assist 3M in making business strategic plans and decisions (Renault 2015). Whereas, opportunity-based theory is used to support the behavior of 3M’s leaders in discovering and taking advantages of possibilities in the business without regarding to resources currently controlled (Pramanik 2015). SWOT Analysis stands for strengths, weaknesses, opportunities and threats existing in the business of 3M. In term of strengths, 3M has a diversified business because of their broad range of products and 6 different types of business segments provided. For example, the various products include Post-It Notes, Scotch Tape, high-tech LCD films and so on while the business segments include Healthcare, Industrial & Transportation, Consumer & Office, Display & Graphics (D&G) and so on to figure 1 in appendix list. Besides, 3M has also a strong Research and Development (R&D) where they spend more than a billion dollars on R&D in a year, around 20% of this budget supports its 32 technology centers. At the same time, 3M also employed approximately 1000 researchers that work in each of the technology centers...
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...3M has been known for decades as an entrepreneurial company that peruses growth through innovation. It generates a quarter of its annual revenues from products less than 5 years old. Long before “reinvention” became a buzzword of American business, 3M already had made change a central part of its corporate culture [1]. Many say the company’s success over the years is linked to its ability to change as 3M, its products and the world marketplace evolves. Once 3M top management has long felt that the 3M innovation process was being focus on incremental improvements to existing product lines. They urgently wanted to improve matters, and wanted especially to improve 3M's ability to respond to the "unarticulated needs" of customers by providing breakthroughs and services. Among many methods of innovation that the 3M used to improve their capability of making breakthroughs, The Lead User process offered a promising solution to that problem. Von Hipple (1999) marks that the Lead User market research method is built around the idea that the richest understanding of new product and service needs is held by just a few "Lead Users." They can be identified and drawn into a process of joint development of new product or service concepts with manufacturer personnel. In this research after a general description of innovation definition, the 3M Company is introduced as the research case study. In the fourth part the culture and methods of innovation that made or used by the 3M is discussed. And...
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...3M in 2006 Prior to reading the 3M case, I was unaware of this historic corporation that dominates a wide range of markets today. I have heard and purchased products such as Post-it Note, Scotch Tape, and Scotch-Brite; however, I did not know all these products and many more belong to 3M Company. 3M was initiated in 1902 by five businessmen in Minnesota and its first product was the development of sandpaper. William McKnight was the leading figure and CEO of 3M who revolutionized the company and led it to its initial success. He and other prominent figures at that time evolved the company culture into a unique innovative organization. 3M was the first company to utilize various strategies that differentiated them from other organizations at the time. For instance, they applied product diversification, which was done by creating brand extensions, production modifications, or creating brand new products. A large number of ground-breaking products were created by, “leveraging existing technology and applying it to new areas”. (p. C437) This strategy was not common in other industries during that time period. This unique culture assisted 3M by allowing the company to reach out to markets their competitors could not have access too. This advantage gave 3M the opportunity to acquire a wide range of new consumers across different market sectors. It placed them as the top dog in supplying daily essentials for individuals, families, manufacturers, and suppliers. Another strategy...
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...for their wonderful efforts in 2011 and to their entire nation for the dignified and orderly way in which they dealt with the tsunami and related challenges. They have my profound personal admiration. Through all of this, while dealing in many cases with enormous personal challenges presented by these disasters, 3M’s people also met the business challenges and once again delivered strong results. George W. Buckley Chairman of the Board, President and Chief Executive Officer Despite all this turbulence, full-year sales increased 11 percent to $29.6 billion, with double-digit growth in Industrial and Transportation; Safety, Security and Protection Services; and Health Care. Operating margins were 20.9 percent for the company, and all businesses delivered margins of 20 percent or higher, which is an amazing feat of consistency. Inge G. Thulin named President and Chief Executive Officer, 3M Company, Feb. 24, 2012 Inge G. Thulin, 58, was named president and chief executive officer of 3M Company effective Feb. 24, 2012. A 32-year veteran of 3M, he served as executive vice president and chief operating officer of 3M since May of 2011, after having served as executive vice president, 3M International Operations since 2003. Mr. Thulin joined 3M Sweden in 1979, working in sales and marketing, and subsequently assumed...
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...Case study An analysis of 3M, the innovation company Introduction Any review of the literature on new product development and innovation management will uncover numerous references to 3M. The organisation is synonymous with innovation and has been described as ‘a smooth running innovation machine’ (Mitchell, 1989). Year after year 3M is celebrated in the Fortune 500 rankings as the ‘most respected company’ and the ‘most innovative company’. Management gurus from Peter Drucker to Tom Peters continually refer to the company as a shining example of an innovative company. This case study takes a look at the company behind some of the most famous brands in the marketplace, including Post-it® Notes. It examines the company’s heritage and shows how it has arrived at this enviable position. Furthermore, the case study attempts to clarify what it is that makes 3M stand out from other organisations. Background Originally known as the Minnesota Mining and Manufacturing Company, with its headquarters in St Paul, Minnesota, 3M was established in 1902 to mine abrasive minerals for the production of a single product, sandpaper. From these inauspicious beginnings, the company has grown organically, concentrating on the internal development of new products in a variety of different industries. The latest review of the company’s position reveals that it manufactures over 60,000 products, has operations in 61 countries, employs 75,000 people and has achieved an average year-on-year growth...
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...Insights on Innovation – A primer from 3M 3M is widely recognized as a model of innovation. From an abrasives company, 3M has grown to generate $4 billion in net income on nearly $27billion in sales with 30% of sales consistently generated from products made in the last 5 years. 3M has nearly 60 business units grouped into six segments ranging from consumer and office to industrial and transportation. 3M does not make a secret of its success. Here are their steps to drive new products to market: 1. As a science based company they have a culture formed from a history of innovation and risk taking. Risk taking is encouraged and failure is seen as a natural part of creating new products. In fact, sandpaper without the abrasives led to adhesive tapes—consumer, medical, electrical and eventually audio and video tapes. 2. Management is focused on customers and their problems. They seek to truly understand what customers want. In some cases customers cannot explain their needs well so deep understanding on 3M’s part is what delivers a meaningful new product or improvement. Adhesives on the upper quarter of the back of small squares of paper? Yes, Post-It Notes. 3. Managers set stretch goals that require creation of new products at a rate that represents 30-40% of sales within a 4 year period. With a focus on new products in plans, the organization is driven to think and act in a new products direction. 4. Employees are given great freedom to pursue...
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...colleagues for their wonderful efforts in 2011 and to their entire nation for the dignified and orderly way in which they dealt with the tsunami and related challenges. They have my profound personal admiration. Through all of this, while dealing in many cases with enormous personal challenges presented by these disasters, 3M’s people also met the business challenges and once again delivered strong results. George W. Buckley Chairman of the Board, President and Chief Executive Officer Despite all this turbulence, full-year sales increased 11 percent to $29.6 billion, with double-digit growth in Industrial and Transportation; Safety, Security and Protection Services; and Health Care. Operating margins were 20.9 percent for the company, and all businesses delivered margins of 20 percent or higher, which is an amazing feat of consistency. Inge G. Thulin named President and Chief Executive Officer, 3M Company, Feb. 24, 2012 Inge G. Thulin, 58, was named president and chief executive officer of 3M Company effective Feb. 24, 2012. A 32-year veteran of 3M, he served as executive vice president and chief operating officer of 3M since May of 2011, after having served as executive vice president, 3M International Operations since 2003. Mr. Thulin joined 3M Sweden in 1979, working in sales and marketing, and subsequently assumed levels of...
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...CASE STUDY #1 PAUL’S FOUR SHORTCOMINGS Paul Enden has always been very reliable and a hard worker. For the past eight years Paul has been working in a large auto service garage. During this time he has made a number of recommendations to the owner regarding new services that could be provided to customers. One of these is called the “fast lubes”. With this service people who want to have their oil changed and their car lubricated do not have to leave the auto and come back later in the day. Three service racks handle this job. It generally takes less than 10 minutes to take care of a car, and most people can have the job completed within 25 minutes of the time they arrive. The service, which has become extremely popular with customers, resulted in an increase in overall profits of 5 percent last year. Paul’s wife believes he has a large number of ideas that could prove profitable. “You ought to break away and open your own shop,” she has told him. Paul would like to do so, but he believes for things help account for entrepreneurial success and he has none of them. Here is how he explained it to his wife: “To be a successful entrepreneur, you have to be a thinker, not a doer. I’m a doer. Thinking bores me. I wouldn’t like being an entrepreneur. Second, those guys who do best as entrepreneurs tend to be inventors. I’m not an inventor. If anything, I think of new approaches to old ways of doing business. I’m more a thnkerer than an inventor. Third, you’ve got to be lucky to...
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