...3M Marketing Audit Jeremiah Lindgren University of Mary 3M Marketing Audit 3M was founded in 1902 in Two Harbors, Minnesota by five businessmen, with diverse occupations, who wanted to mine a mineral deposit for grinding-wheel abrasives (3M, 2012). The founders did what many others did in that time and that was incorporate first and investigate later so soon after their start the company moved to Duluth, Minnesota to focus on sandpaper products because the mineral deposit was of little value (3M, 2012). 3M struggled for many years, then they got the quality production and supply chain down they attracted new investors. The company moved to St. Paul, Minnesota in 1910 and in 1916 they paid their first dividends of 6 cents a share (3M, 2012). In 2004, their sales topped $20 billion for the first time and currently they are in 25 different countries worldwide. When most people think of 3M they think of Post-It notes and Scotch tape but 3M actually has many other businesses besides office supplies (3M, 2012). They currently have a very high technology platform which gives them the ability to have a graphics business that people rely on every day along with an electronic and communication business that contribute reliable sources of electrical power to markets around the world (3M, 2012). They supply innovative and reliable products that are used by health care professionals. These products make them a global leader in medical and oral care products, and drug deliver and...
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...gies. For example, when Cisco decided on a strategy of growth through acquisitions, it estab- lished a policy to consider only companies with no more than 75 employees, 75% of whom were engineers.67 Consider the following company policies: 3M: 3M says researchers should spend 15% of their time working on something other than their primary project. (This supports 3M’s strong product development strategy.) Intel: Intel cannibalizes its own product line (undercuts the sales of its current products) with better products before a competitor does so. (This supports Intel’s objective of mar- ket leadership.) General Electric: GE must be number one or two wherever it competes. (This supports GE’s objective to be number one in market capitalization.) Southwest Airlines: Southwest offers no meals or reserved seating on airplanes. (This supports Southwest’s competitive strategy of having the lowest costs in the industry.) Exxon: Exxon pursues only projects that will be profitable even when the price of oil drops to a low level. (This supports Exxon’s profitability objective.) Policies such as these provide clear guidance to managers throughout the organization. (Strategy formulation is discussed in greater detail in Chapters 6, 7, and 8.) STRATEGY IMPLEMENTATION Strategy implementation is a process by which strategies and policies are put into action through the development of programs, budgets, and procedures. This process might involve changes within the overall culture, structure...
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...For the exclusive use of Q. WEI2015. 9-699-012 REV: JULY 23, 2002 STEFAN THOMKE Innovation at 3M Corporation (A) On the evening of October 23, 1997, Rita Shor, senior product specialist at 3M, looked across the conference room at her team from the Medical-Surgical Markets Division. She wondered when to draw to close the intense ongoing debate on the nature of the team’s recommendations to the Health Care Unit’s senior management. A hand-picked group of talented individuals, the team had embarked on a new method for understanding customer needs called “Lead User Research.” But this initiative to introduce leading-edge market research methods into 3M’s legendary innovation process had now grown into a revolutionary series of recommendations that threatened to rip apart the division. While senior management wanted the “Lead User” team to execute a manageable project involving surgical draping material to protect surgery patients from infections, the team now wanted to rewrite the entire business unit’s strategy statement to also include more pro-active products or services that would permit the upstream containment of infectious agents such as germs. This went against the incrementalist approach that for so long had pervaded 3M. After all, as Mary Sonnack, division scientist and an internal 3M consultant on the new Lead User methodology, noted “3M gets so much revenue from incremental products . . . like a blue Post-it note instead of just a yellow one.” ...
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...Chapter 1 Strategic Leadership: Managing the Strategy-Making Process for Competitive Advantage Opening Case Wal-Mart Wal-Mart is one of the most extraordinary success stories in business history. Started in 1962 by Sam Walton, Wal-Mart has grown to become the world’s largest corporation. In the financial year ending January 31, 2004, the discount retailer whose mantra is “every day low prices” had sales of nearly $256 billion, five thousand stores in ten countries (almost three thousand are in the United States), and 1.3 million employees. Some 8 percent of all retail sales in the United States are made at a Wal-Mart store. Wal-Mart is not only large but also very profitable. In 2003, the company earned a return on invested capital of 14.7 percent, significantly better than rivals Costco and Target, which earned 9.4 percent and 10 percent, respectively (another major rival, Kmart, emerged from bankruptcy protection in 2004). As shown in the accompanying figure, Wal-Mart has been consistently more profitable than its rivals for years. Wal-Mart’s superior profitability reflects a competitive advantage that is based on the successful implementation of a number of strategies. In 1962 Wal-Mart was one of the first companies to apply the self-service supermarket business model developed by grocery chains to general merchandise (two of its rivals, Kmart and Target, were established in the same year). Unlike its rivals, who focused on urban and suburban locations, Sam Walton’s Wal-Mart...
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...Introduction: According to Heskett, 2012, leadership requires many top noch qualities which includes: competence, interpersonal skills, administrative, should be a snooping follower, a virtuous eavesdropper, a quest of veracity, instigator as well as empathizer, no autocraticness etc. But the main delimas that organizations are facing today is how to motivate their employees in order to improve their efficiency which will halp them in sustaining their competative advantage. Teresa M. Amabile and Steven J.Kramer had provided a breakthrough idea to deal with the motivational issues i.e. “managers are a powerful influencer, they can provide their employees with stimulating yet attainable gaoals, resources, encouragement, should protect the employees from the irrelevant goals, to cut short he/she should provide him a podium to aid him headway with a sanguine attitude.” Leaders Role: To implement the idea the companies either need to train the existing leaders or higher new ones which are having such qualities. As Barbara Kellerman in her book “the end of Leadership”, says “Teaching how to lead is where the money is,". In current eon, the utmost important practice that every organization should adopt is to have their employees satisfied yet motivated only then you will be able to achieve sky high profits. We have many examples like 3M Corp. there is a creative time for them in which they are allowed to invent small things the sticky note was one of the ideas. Now the question is...
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...6) ● WalMart Internally Ventures a New Kind of Retail Store (Chapter 8) ● Sam Walton’s Approach to Implementing Wal-Mart’s Strategy (Chapter 9) Strategy in Action Features A Strategic Shift at Microsoft (Chapter 1) ● The Agency Problem at Tyco (Chapter 2) ● Circumventing Entry Barriers into the Soft Drink Industry (Chapter 3) ● Learning Effects in Cardiac Surgery (Chapter 4) ● How to Make Money in the Vacuum Tube Business (Chapter 5) ● The Evolution of Strategy at Procter & Gamble (Chapter 6) ● Diversification at 3M: Leveraging Technology (Chapter 7) ● News Corp’s Successful Acquisition Strategy (Chapter 8) ● How to Flatten and Decentralize Structure (Chapter 9) Practicing Strategic Management Application-based activities intended to get your students thinking beyond the book. Small-Group Exercises Short experiential exercises that ask students to coordinate and collaborate on group work focused on an aspect of strategic management. Exploring the Web Internet exercises that require students to explore company websites and answer chapter-related questions. Designing a Planning System (Chapter 1) Evaluating Stakeholder Claims (Chapter 2) Competing with Microsoft (Chapter 3) Analyzing Competitive Advantage (Chapter 4) How to Keep the Salsa Hot (Chapter 5) Developing a Global Strategy (Chapter 6) Comparing Vertical Integration Strategies (Chapter 7) ● Identifying News Corp’s Strategies (Chapter 8) ● Speeding Up Product Development (Chapter 9) ● ● ● ● ● ● ● ●...
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...6) ● WalMart Internally Ventures a New Kind of Retail Store (Chapter 8) ● Sam Walton’s Approach to Implementing Wal-Mart’s Strategy (Chapter 9) Strategy in Action Features A Strategic Shift at Microsoft (Chapter 1) ● The Agency Problem at Tyco (Chapter 2) ● Circumventing Entry Barriers into the Soft Drink Industry (Chapter 3) ● Learning Effects in Cardiac Surgery (Chapter 4) ● How to Make Money in the Vacuum Tube Business (Chapter 5) ● The Evolution of Strategy at Procter & Gamble (Chapter 6) ● Diversification at 3M: Leveraging Technology (Chapter 7) ● News Corp’s Successful Acquisition Strategy (Chapter 8) ● How to Flatten and Decentralize Structure (Chapter 9) Practicing Strategic Management Application-based activities intended to get your students thinking beyond the book. Small-Group Exercises Short experiential exercises that ask students to coordinate and collaborate on group work focused on an aspect of strategic management. Exploring the Web Internet exercises that require students to explore company websites and answer chapter-related questions. Designing a Planning System (Chapter 1) Evaluating Stakeholder Claims (Chapter 2) Competing with Microsoft (Chapter 3) Analyzing Competitive Advantage (Chapter 4) How to Keep the Salsa Hot (Chapter 5) Developing a Global Strategy (Chapter 6) Comparing Vertical Integration Strategies (Chapter 7) ● Identifying News Corp’s Strategies (Chapter 8) ● Speeding Up Product Development (Chapter 9) ● ● ● ● ● ● ● ●...
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...LEADERSHIP FOR INNOVATION LEADERSHIP FOR INNOVATION How to organize team creativity and harvest ideas JOHN ADAIR London and Philadelphia Publisher’s note Every possible effort has been made to ensure that the information contained in this book is accurate at the time of going to press, and the publishers and author cannot accept responsibility for any errors or omissions, however caused. No responsibility for loss or damage occasioned to any person acting, or refraining from action, as a result of the material in this publication can be accepted by the editor, the publisher or the author. First published in Great Britain in 1990 by the Talbot Adair Press as The Challenge of Innovation This edition published in Great Britain and the United States by Kogan Page Limited in 2007 as Leadership for Innovation Reprinted 2007 Apart from any fair dealing for the purposes of research or private study, or criticism or review, as permitted under the Copyright, Designs and Patents Act 1988, this publication may only be reproduced, stored or transmitted, in any form or by any means, with the prior permission in writing of the publishers, or in the case of reprographic reproduction in accordance with the terms and licences issued by the CLA. Enquiries concerning reproduction outside these terms should be sent to the publishers at the undermentioned addresses: 120 Pentonville Road London N1 9JN United Kingdom www.kogan-page.co.uk © John Adair, 1990, 2007 The right of John...
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...publication contains information obtained from authentic and highly regarded sources. Reprinted material is used with permission, and sources are indicated. Reasonable effort has been made to publish reliable data and information, but the author and the publisher cannot assume responsibility for the validity of all materials or for the consequences of their use. All rights reserved. Neither this publication nor any part thereof may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior written permission of the publisher. The copyright owner’s consent does not extend to copying for general distribution for promotion, for creating new works, or for resale. Specific permission must be obtained from J. Ross Publishing for such purposes. Direct all inquiries to J. Ross Publishing, Inc., 5765 North Andrews Way, Fort Lauderdale, Florida 33309....
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...the restaurant—soon to be his restaurant, Tony thought—the news of his Whenever she visited the restaurant, she and Jerry would always end up huddled in one of the corner booths over her laptop screen or a spreadsheet printout discussing numbers—food costs, labor costs, and the figures for the latest marketing campaign to increase sales. Dawn always ended her visit by walking around and checking in with everyone to make sure they were doing okay. Since Jerry ran such a good crew, there were never any problems, but Tony wondered what Dawn’s reaction would have been if she had found any. Jerry’s style always seemed to Tony to be more about the people than the numbers. He obviously hit promotion finally started to sink in. Jerry’s promotion to regional manager didn’t give either of them a lot of time to manage the transition, so the day had been filled with a lot of information—forms, rules, regulations, guidelines, and plenty of tips and tricks from Jerry on how to cope with the unexpected. In the peace and quiet of his apartment, Tony started thinking back to his earlier days at the Taco Barn and to the many lessons he had learned from both Jerry and Dawn. They were very different in their approach to their jobs. Dawn was all about the numbers. 26 LEARNING objectives CH A P T ER After studying this chapter, you will be able to: 1 Explain the role of the Industrial Revolution in the development of managerial thought and identify the captains of industry...
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...Easy-To-Tie Ligature Development Susan Tzou – 9 The Art of Scheduling Terry A. Sellke, D.D.S., M.S. – 12 Continuing Education – 18 A recently reemphasized paradigm of business is that time is one of the most important factors to be considered by an organization. To use time efficiently, we need to choose and implement those products, processes and practices which are effective within the time we can provide, while maintaining the highest standards of service. The articles in this issue of Orthodontic Perspectives address this topic, and offer insight into methodology and products that can help you be successful in your practice. I am pleased to introduce two new members of The Leadership Committee (TLC) of 3M Unitek who will have an important role in how we serve you in the years ahead. Ajay Myer is appointed Senior Laboratory Manager in charge of Research and Development, and Norm Clason is now Manufacturing Operations Manager. Both have long histories with 3M, and I’m sure you will be hearing about their activities in future issues of this magazine. Following is an article by Mike Lane, TLC member and Manager, 3M Unitek Global Marketing Operations, who offers a view of the increasingly important role of marketing in today’s orthodontic practice. Marketing: Planning for Success By Michael Lane; Manager, 3M Unitek Global Marketing Operations Orthodontic Perspectives is published periodically by 3M Unitek to provide info rmation to orthodontic practitioners about 3M Unitek products...
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...CHAPTER 1 Learning Objectives The Management Process Today After studying this chapter, you should be able to: • Describe what management is, why management is important, what managers do, and how managers utilize organizational resources efficiently and effectively to achieve organizational goals. • Distinguish among planning, organizing, leading, and controlling (the four principal managerial functions), and explain how managers’ ability to handle each one can affect organizational performance. • Differentiate among three levels of management, and understand the responsibilities of managers at different levels in the organizational hierarchy. • Identify the roles managers perform, the skills they need to execute those roles effectively, and the way new information technology is affecting these roles and skills. • Discuss the principal challenges managers face in today’s increasingly competitive global environment. Management Snapshot Different Approaches to Management at The Home Depot and Lowe’s: What Is High-Performance Management? Home Depot shot to fame when its founders, Bernie Marcus and Arthur Blank, developed a new concept for a home improvement store. Their vision was to fill a warehouse-type store from floor to ceiling with a wide range of lowpriced products and to provide excellent customer service. Home Depot’s well-informed salespeople offered customers knowledgeable advice and they even conducted classes showing do-it-yourselfers how to install...
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...Different?" The piece caused an uproar in business schools. It argued that the theoreticians of scientific management, with their organizational diagrams and time-and-motion studies, were missing half the picture-the half filled with inspiration, vision, and the full spectrum of human drives and desires. The study of leadership hasn't been the same since. "What Leaders Really Do" first published im99O, deepens and extends the insights ofthe 1977 article. Introducing one of those brand-new ideas that seems obvious once it's expressed, retired Harvard Business School professor John Kotter proposes that management and leadership are different but complementary, and that in a changing world, one cannot function withoutthe other. He then enumerates and contrasts the primary tasks ofthe manager and the leader. His key point bears repeating: Managers promote stability while leaders press for change, and only organizations that embrace both sides of that contradiction can thrive in turbulent times. BREAKTHROUGH LEADERSHIP DECEMBER 2001 by John P. Kotter I EADERSHIP IS DIFFERENT I management, but not for the rea^ ^ sons most people think. Leadership isn't mystical and mysterious. It has nothing to do with having "charisma" or other exotic personality traits. It is not the province of a...
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...Technologies’ award winning “Creativity Center” was industries state-of-the art that provided leadership, passion, outstanding marketing, training and communication. Similarly, Enron was the industry “darling” for its innovation program; Enron’s major intranet program “eThink” was recognized with awards for excellence in communication. Yet four years later Enron went bankrupt, the programs of many companies were in ruins joining the ranks of Polaroid, DuPont, Reynolds, Ford and many others. What happened? We watched many companies failed while other organizations remained successful. What made the difference in the innovation process? While many companies failed, others were successful adding value fostering innovation and creativity. Many companies such as 3M, IBM, Disney, Microsoft, and Sony continued to innovate. This paper attempts to explain the reasons behind the failures and successes. 2. What is Innovation? Innovation is discovering new ways of creating value. Innovation serves as the lifeblood of many organizations whose survival and growth depend on developing new technology, products and services. A successful organization is a creative organization because creativity is the single most important contribution employees can contribute for its success. Innovation is of benefit only if it creates value. In a successful organization, innovation is sustainable and on-going, rather than a process characterized by succession of “boom and bust” events. A creative organization is “lead...
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...located in the SE region of Albuquerque, New Mexico, in the Sandia Industrial Park area east of Kirtland Air Force Base on Eubank Blvd. SIGMA, owned by Dr. Remy and Mr. Bob Sachs (of TEAM Technologies), serves as the patent holder and developer of “Ozone”. UNM Anderson has been contracted to provide an expeditionary marketing study. Ozone offers an invasive, defined space; gas based delivery system (generated by the product) to kill all living organisms in a room. It provides an affordable elimination and sterilization system for use by the Medical industry. It provides an additional layer of security against concealed germs, bacteria, and viral threats (pathogens). It may even be the cost effective solution to deliver solution based field units to disease hot spots that are engineered for quick and easy “Ozone” sterilization. The technology offers a “whole room” elimination solution (fills available defined space and kills pathogens) as opposed to standard “surface” based elimination systems (based on chemical wipe down style cleaning). Dr. Remy and his supportive team have a strong solution for a problem that has varying targets. As countermeasures are developed, potential pathogen threats evolve. The Ozone technology may offer a solution set that the pathogens cannot evolve to defeat. The primary focus of SIGMA, involves patent work, research and development of the Ozone generation technology, sales, and market development. SIGMA is the first and potentially...
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