Innovation at 3M 3M attributed much of its growth to its innovative products and incremental/extensions of existing products. However‚ of late they hadn’t come up with anything significant and they were stagnating. At this point‚ Ms. Rita Shor implemented the “Lead User Research” methodology to come up with four recommendations on new innovative products and strategy. In my opinion‚ Ms. Shor should put forward their first three recommendations to Mr. Dunlop. They consisted of development of three
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Case Studies 3M1: Rethinking Innovation Background Large (70K employees‚ $15bn sales)‚ global operations (200 countries)‚ multi-product (50K range)‚ multi-market business. Innovation ‘Claim to Fame’ This company has been around for just over 100 years and during that period has established a clear reputation as a major innovator. Their technical competence has been built up by a long-term commitment to R&D on which they currently spend around $1bn p.a.; this has yielded them a regular position
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Current situation Canada Goose has experienced steady organic growth as a niche brand‚ selling their product through independently owned stores. By June 2008 it was selling product in 28 different countries across North America and Europe plus two authorized online retailers. Now it has a significant opportunity to further cement itself as a market leader by placing its product with a national chain. Initially‚ Canada Goose considered offers from two national chain retailers. One offer came from
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pursue their inventions. Having said that‚ low rankings employees can’t always get their products up the ladder‚ this is certainly the case for 3M. Products don’t die at 3M‚ but this case study does suggest that many good ideas never materialize to a good product. After all‚ the Post-It success looks a bit miraculous‚ and miracles don’t happen very often. 4. Every 3M researcher gets to spend up to 15% of his time pursuing his own interests. This policy is immeasurable because of the very nature of
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3M Strategy 1) How does your company handle strategy? How does your company handle strategy? Minnesota Mining and Manufacturing‚ also known as 3M‚ is one of the world’s premier manufacturing companies. The 3M Company handles strategy like mostly any other business. The number one reason people go into a business is because they want to make as much money as possible. This can be accomplished if they have a strategic approach to it. For example‚ the most important strategy that 3M uses is selling
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Canada Business Etiquette Appearance [pic]Plan for a very cold climate‚ especially during their winter. [pic] Men should wear a dark conservative business suit with tie‚ especially in cities. Build a wardrobe based on classic lines (selecting suits with a traditional lapel width‚ and ties staying within a traditional width range). Conservative colors of navy and gray‚ and shirts in white and light blue. [pic] Women should wear a conservative business suit or dress‚ especially in cities
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3M Optical System Managing Corporate Entrepreneurship Andy Wong ( manager of the OS business unit): how managing the formal approval process of the Authorisation for Expenditure – minimizing the risk of kill ideas- presented by his team? Informal channels: seeking support from mentors higher in the organization but this option has to be used carefully and not often. Restructure the project: carrying on within the unit. Paul Gueheler (vice president of SSSD) is worried about OSunit. His
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mergers‚ and globalization‚ on pricing and the sustainability of profits Sustainability at 3M grew from a commitment to both innovation and ethical conduct. By continually increasing sustainability at the economic‚ social‚ and environmental levels‚ we believe we are building a strong‚ vital company today‚ and leaving a rich legacy on which future generation. We recognized early that doing business in new‚ smarter ways would not only create a more viable company—it could also enable us to meet
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Innovation: Championing 3M’s Post-it Notes 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
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However‚ the dispute between the union and the management escalated and got sent to the Canadian Industrial Relations Board (CIRB)‚ and resulted in prohibition of work stoppage. Unwantingly‚ the employees had to resume daily operations at Air Canada. The main issues the employees brought to the table during the negotiations were: job protection‚ wages‚ working conditions and pension changes. Air Canada was planning to launch a low-cost carrier using lower paid new hires. This alarmed the current workers
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