Competitors • Who Any person or entity which is a rival against another. In business‚ a company in the same industry or a similar industry which offers a similar product or service. Competition also requires companies to become more efficient in order to reduce costs. [ http://www.businessdictionary.com/definition/competitor.html] 1. Actual Major Competitors are Direct Competitors. Their production and operation of the same kind of products and services‚ with this enterprise compete for common
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ANALYSIS OF CURRENT COMPETITORS Competitors’ Profile The Shell Refining Company (Federation of Malaya) Berhad was formed in 1960 and is a public listed company with 49% public participation. It operates with state-of-the-art technology and is the key supplier to Shell’s Oil Products’ businesses in Malaysia. The Company’s oil refinery at Port Dickson produces a comprehensive range of petroleum products‚ most of which are consumed within Malaysia. In 1999 the Company completed its RM 1.4 billion
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Topic: How 3M draws up sales and spending forecasts? Questions: 1. Sketch out the 3M organization structure from the board of directors to the production foreman as best as you can from the information in the article Management committee (President‚ seven group vice presidents and nine vice presidents of staff departments) Controller Groups of divisions (Group vice presidents and Group head) Divisions (General managers) Departments (Department managers) Top aides Foreman 2. How many
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There is no need to change basic corporate culture of innovation at 3M. 3M already has impressive internal strengths and in order to avoid further stagnation and increase company’s earnings per share more cohesive and systematic plan is needed. We would recommend the long term strategy development to increase the efficiency and competetiveness of the 3M products. 3M is fundamentally a science-based company. We produce thousands of imaginative products‚ and we’re a leader in scores of markets -
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COMPETITOR ANALYSIS No business is an island. For success‚ the business will need to deal with customers‚ suppliers‚ employees‚ and others. In almost all cases there will also be other organizations offering similar products to similar customers. These other organizations are competitors. and their objective is the same: to grow‚ make money and succeed. Effectively‚ the businesses are at war‚ fighting to gain the same resource and territory i.e. the customer and like in war‚ it is necessary to
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INNOVATION AT 3M CORPORATION: CASE STUDY There are two major issues highlighted in this case study: 1. Is the ‘lead-user’ process‚ an effective method for research and subsequent product innovation? 2. Should the Medical-Surgical Markets Division (MSMD) lead-user research team present its revolutionary new approach to treating infection to senior management despite the fact that it challenged the existing business strategy? QUESTION 1 The answer to the first question is ‘yes’. By the
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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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companies. To what extent is 3M justifiably highlighted as the ‘innovating machine’? 3M has an impressive performance when it comes to developing new products. 3M hires good hardworking people and puts trust in them; this brings about innovation and excellent performance. 3M ensured that developing new products is much higher on the agenda in management meetings than in other companies. Moreover‚ the success of the approach is due to the continual reinforcement of its objectives. 3M has concentrated the
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3M Optical Systems: Managing Corporate Entrepreneurship MST550 – Capstone Professor Jack Raiton HBSP Case #395-017 Discussion Questions 1. What practices make 3M such an innovative company? 2. What is Any Wong’s role as the OS Unit’s general manager? How effective has he been? 3. What is Paul Guehler’s role as division vicepresident? How effective has he been? 4. What should Andy Wong do with the computer screen AFE? If he gets the AFE‚ should Guehler fund it? Case Outline • • • • • •
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Summer Project Report Format Length: Approx 70 to 80 pages (ideal)‚ 60 pages minimum but if the project is very exhaustive the report may run up to 200 pages. Paper: A4 White bond paper Typing: Standard letter size: Title – 14 and Text – 12 Black Colour One side of the paper One and half line spacing Margin: Left and Top – 35 mm Right and Bottom – 20 mm Cover: Hard bound Black Front Cover – Engraved letters in block capital (please refer to specimen
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