3m Strategy

|Huang Mei’En Grace | K0704353 |
|T02 |
|Cedric Chew Koo Mun |
| |

CONTENTS

Question 2 3

Determine 3M’s core competencies and assess if 3M has a sustainable competitive

advantage. Support your claim.

Question 3 9

Critically evaluate the success of 3M’s strategies (acquisition included) in 2006,

from both a strategic and financial perspective.

Question 4 27

Recommend an integrated and coordinated set of commitments and actions which

will exploit the company 's core competencies (CCs), strengthen its competitive

advantage (CA), and maximise value.

Reference List 32

Question 2

Determine 3M’s core competencies and assess if 3M has a sustainable competitive advantage. Support your claim. [20m]

Introduction

3M (Minnesota Mining and Manufacturing Company from its founding in 1902 until 2002), established in 1902, is one of the most innovative companies of our time that other visionary companies admire. 3M had initially failed in its mining business, but eventually stumbled into one of the most successful innovations that we know 3M for - Post-its, Scotch tape. They have more than 50,000 products and are best known for their household/office brands. Recent issues faced by 3M is the rise of private labels as well as uncertainties in economic conditions that affect their operations.

Approach
The approach used in this is to first identify the resources of 3M, determining the

References: 2. Hitt et al. (2009). The Management of Strategy Concepts and Cases. South Western Eighth Edition.