3M Strategy
Submitted to: Prof. Ray Titus Submitted by: Group 1
Alok
Aswathy
Ashwini
Nayanshree
Sai Sujeetha
Shivani
INTRODUCTION
The 3M Company, formerly known as the Minnesota Mining and Manufacturing Company, is an American multinational conglomerate corporation based in St. Paul, Minnesota. 3M headquarters are in the St. Paul suburb of Maplewood, Minnesota.
Five businessmen founded 3M in Two Harbors, Minnesota, in 1902. Originally a mining venture, the goal was to mine corundum, but this failed because the mine 's mineral holdings were anorthosite, which had no commercial value. During the 1950s, the company expanded worldwide with operations in Canada, Mexico, France, Germany, Australia, and the United Kingdom in large part by Clarence Sampair. In 1951, international sales were approximately $20 million. 3M’s achievements were recognized by the American Institute of Management naming the company “one of the five best-managed companies in the United States" and included it among the top 12 growth stocks (3M).
3M’s investment in communities, where the company operates, reflects the philosophy and practice of our governing principles since 1908. Messrs. William L. McKnight and Archibald Bush, early 3M leaders, understood the importance of community vitality to business success. Community engagement was encouraged at all levels of the company. Junior Achievement was 3M’s first volunteer program and dates back to 1949. To formalize 3M corporate philanthropy, the 3M Foundation was established in 1953, during the same year of the formation of the respective McKnight and Bush Foundations.
Since 1953, 3M and the 3M Foundation, coming together under the banner of 3Mgives, have invested $1.3 billion in cash and product in 3M communities around the world. Today, Belgium, Spain, Italy and Brazil maintain their own foundations and all other international subsidiaries manage corporate giving
Alok
Aswathy
Ashwini
Nayanshree
Sai Sujeetha
Shivani
INTRODUCTION
The 3M Company, formerly known as the Minnesota Mining and Manufacturing Company, is an American multinational conglomerate corporation based in St. Paul, Minnesota. 3M headquarters are in the St. Paul suburb of Maplewood, Minnesota.
Five businessmen founded 3M in Two Harbors, Minnesota, in 1902. Originally a mining venture, the goal was to mine corundum, but this failed because the mine 's mineral holdings were anorthosite, which had no commercial value. During the 1950s, the company expanded worldwide with operations in Canada, Mexico, France, Germany, Australia, and the United Kingdom in large part by Clarence Sampair. In 1951, international sales were approximately $20 million. 3M’s achievements were recognized by the American Institute of Management naming the company “one of the five best-managed companies in the United States" and included it among the top 12 growth stocks (3M).
3M’s investment in communities, where the company operates, reflects the philosophy and practice of our governing principles since 1908. Messrs. William L. McKnight and Archibald Bush, early 3M leaders, understood the importance of community vitality to business success. Community engagement was encouraged at all levels of the company. Junior Achievement was 3M’s first volunteer program and dates back to 1949. To formalize 3M corporate philanthropy, the 3M Foundation was established in 1953, during the same year of the formation of the respective McKnight and Bush Foundations.
Since 1953, 3M and the 3M Foundation, coming together under the banner of 3Mgives, have invested $1.3 billion in cash and product in 3M communities around the world. Today, Belgium, Spain, Italy and Brazil maintain their own foundations and all other international subsidiaries manage corporate giving
References: 3M. (2007). Retrieved September 1, 2007, from Hoover’s Web site: http://hoovers.com/3m/-- ID__11003--/free-co-factsheet.xhtml http://www.3m.com 3M company (2010). Retrieved April 2010; by the World Market Intelligence