CASE #4: 3M Canada: Industrial Business Division PROBLEM RECOGNITION * The target is to increase growth rate from 3-5% to 12-15% in 18 months * OEM market is mature with limited prospects of expansion * Ultimately shifting overall focus from OEM market to MRO market * High unfamiliarity and low exposure to the MRO market * IBD’s share of distributor sales was 2% of distributors’ revenue * Transitioning focus from Special and Niche accounts to Large National accounts
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Innovation at 3M Corporation Case Summary 3M was and still is a worldwide leader in innovation. After a rough start in 1902‚ over decades‚ 3M enjoyed national and global growth as well as a reputation for remaining a hothouse of innovation. In the 1990’s‚ 3M was trying to move away from the incrementalism and it sought to change the mix of new products to truly create something new to the world‚ instead of line extensions‚ which typically had provided two out of three new-product sales dollars
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Case: Innovation at 3M Corporation What had been 3M’s traditional approach to innovation? Product developers at 3M generally relied on more traditional methods of seeking marketing input. They collect data from sales representatives‚ focus groups‚ customer evaluations‚ site visits‚ and data on risk factors for diseases. Product developers mainly focused on finding new angel or twist on early trends and basically didn’t have direct access to customers. In 3M‚ Sales representatives contacted with
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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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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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3M Corporation 3M was founded in 1902 and has grown into an extremely diversified international organization. The company offers a variety of products and services: "consumer and office; display and graphics; electro and communications; health care; industrial and transportation; and safety‚ security and protection services‚" (3M‚ 2007). 3M does business in several countries all over the world; because of this‚ they participate in e-business on an international level. This opens the door to many
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Guide for Educating Rita The following information was put together using the written text of Educating Rita and is not specifically about the production taking place at The Segal Centre this fall. Some of the magic of live theatre comes from the fact that every performance is an event unto itself. As a result there may be some differences between the play as it is described here and the performance that you will see at The Segal Centre. Background Information Educating Rita‚ written by British
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RITA: “Explain how moving into the world opens up new phases of life experiences” Phase 1-Idealism Phase 2- bewilderment Phase 3 –Ambivalence‚ choice‚ Autonomy‚ Critical self-knowledge. 1 Movements into new realms of experience are often motivated by a native belief in the possibility of change; hat must negotiate the emotionally challenging reality of confronting new attitudes and values. The movement by individuals into new realms of experience and knowledge may be driven by an idealism
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| | | 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
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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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