by Knowledge@SMU, 13 April 2010
Go ahead and experiment with your idea. But what if I fail, you may ask. It is okay, said Geoff Nicholson, a former senior executive with multi-product manufacturer 3M, famous for its wide range of innovative products for both consumers and businesses.
In fact, that is the trait you should look for in your employees – people who are not afraid to make mistakes – if you want your company to go far in innovation, said Nicholson, who retired in 2001 as 3M’s vice president of international technical operations. The brightest example of 3M’s innovation is the surprising success of its Post-it Note, the ubiquitous yellow sticky pad of paper. Derided in 3M’s laboratories as an adhesive that could barely stick, the Post-it Note turned out to be one of the company's most popular products, helping to cement its position as an innovative company. Nicholson, who graduated from Britain’s Imperial College in 1963 with a doctorate in chemistry, was instrumental in the development and success of 3M's Post-it line of products. The “Father of Post-it Note Program”, as he is sometimes described, spoke at Singapore Management University’s Institute of Innovation and Entrepreneurship [11] Distinguished Speaker Series. Putting in time for innovation
What does ‘innovation’ mean to 3M? According to Nicholson, it is about creating something that is new and of value to the world. If the company wants to grow, it needs to innovate and make improvements continuously. Innovation keeps products competitive and helps the company to survive. “If you don’t continue to reinvent your products, your company will die,” he said bluntly. People may think of 3M only for its grocery store offerings, like Scotch tape and Post-its, but the company's tradition of innovation goes back 108 years to when the then-Minnesota Mining and Manufacturing Company (that’s the origin of the three ‘M’s) came up with products