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
Words: 633 - Pages: 3
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
Words: 79591 - Pages: 319
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
Words: 3061 - Pages: 13
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
Words: 447 - Pages: 2
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
Words: 79591 - Pages: 319
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
Words: 816 - Pages: 4
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
Words: 10701 - Pages: 43
and Problems This case describes how 3M Corp. introduces and learns a new and innovative methodology titled Lead User research to understand future customer and market needs. A team from 3M's Medical-Surgical Markets Division applies the Lead User Methodology to the field of surgical infection control and discovers that there exist new product concepts together with a new business strategy. The problem here is 3M should decide whether this new strategy will be a tool for 3M 's strategy towards
Words: 1469 - Pages: 6
Internship Report Summer 2002 By: Danielle Cauthen Company: 3M Internship Dates: May 2002 - July 2002 Table of Contents 1. Biographical Sketch 2. Company Background 3. Internship Program pg. 3 pg. 3 pg. 3 4. Internship Project 4.1 Project Overview 4.2 Project Relevance 4.3 Project Timeline 4.4 In-House Training 4.5 Project Tasks and Results 4.6 Project Evaluation 5. Technical Products 5.1 Design Description 5.2 Code 5.3 Sample Outputs 6. Professional Growth 6.1 Challenges 6.2 Technical
Words: 1490 - Pages: 6
1) 3M is an exploration firm because rather than doing better in a given domain, it always strives to change domains. It has enjoyed global growth and has a reputation for remaining a “hothouse of innovation”. 3M has a defiantly non-corporate nature and though the company is gigantic, yet it is very innovative and shows enormous growth potential as though it were a small endeavor. It has developed a wide category of innovative products such as waterproof sandpaper, masking tape, Post-it notes
Words: 802 - Pages: 4
