CRANEFIELD COLLEGE Of Project and Programme Management INDIVIDUAL EXAMINATION Transformational Corporate Strategy (M4) CASE: Revitalising innovation at 3M Declaration “I hereby declare that this assignment is entirely my own work‚ and that it has not previously been submitted to any other Higher Education Institution. I also declare that all published and unpublished sources have been fully acknowledged and properly referenced. This includes figures‚ tables and exhibits. Where modified
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Case study An analysis of 3M‚ the innovation company Introduction Any review of the literature on new product development and innovation management will uncover numerous references to 3M. The organisation is synonymous with innovation and has been described as ‘a smooth running innovation machine’ (Mitchell‚ 1989). Year after year 3M is celebrated in the Fortune 500 rankings as the ‘most respected company’ and the ‘most innovative company’. Management gurus from Peter Drucker to Tom Peters continually
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Reputation: 1950s Such growth could not be ignored. Now that 3M was publicly traded‚ investment bankers took to recommending it as a buy‚ business magazines sent reporters to write about it‚ and other companies tried to figure out how 3M continued to excel. McKnight’s immediate successor as president‚ Richard Carlton‚ encapsulated the company’s special path to prosperity with the phrase: "we’ll make any damn thing we can make money on." Yet the 3M method involved a great deal more than simply making and
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Pre-reading Reading: “3M Post-It Notes: A Managed or Accidental Innovation?” As you read this case story‚ think about the following two questions: 1. What were the critical factors that enabled 3M Post-it Notes to be successfully commercialized and what can we generalize about managing the innovation process from this case history? 2. What were the critical roles performed by some of the key individuals‚ including Silver‚ Oliveira‚ Nicholson‚ Fry‚ and Ramey? 1 33 3M’s Post-it Notes: A Managed
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3M Optical Systems: Managing Corporate Entrepreneurship Submitted by: GROUP 6 Padilla‚ Rachelle Pangader‚ Abdul Najib P. Penallosa‚ Mary Ann Pizon‚ Rosjeb Ravanera‚ Aaron Sumanpan‚ Hester Lee WRITTEN ANALYSIS OF CASE (BA 115) I. PROBLEM Mr. Andy Wong is in a dilemma on whether he should support an investment request for a third attempt at launching the privacy screen project developed by the struggling Optical Systems Unit. II. POINT OF VIEW Andy Wong III. OBJECTIVES
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1. How the 3 M innovation process evolved from the time the company was found? Answer: The innovation process at 3M has typically been a focus area for the upper management. The company had taken a getoutoftheway attitude towards the product developers who in turn have worked accordingly towards innovation. Along with technicians each team had a process engineer to ensure that the product was efficiently made. The entire team did not face any risk if the product failed.
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1. How has 3M’s innovation process evolved since the company was founded? Why‚ if at all‚ does 3M known as a "hothouse" of innovation‚ need to regain its historic closeness to the customer? First‚ they discover their first product by accident. Technician bypass purchasing agents in order to better understand product needs. Walked into factories and workplaces and talk directly to workers. Then‚ one developer discovered some success ignoring company order. Causing the attitude. It is better
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Making Study Notes Making good notes is an open secret of success of student. Making notes is a part of preparation for exam. Good Notes ensures high grades in exam. Questionnaires filled out by successful students show that 80% students attribute their success to good notes. Making good notes is a skill. How to make good Notes. First let me tell‚ what are the properties of good notes 1. Easily understandable 2. Easily revisable 3. Save time – because you don’t have to read
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the top spot by increasing the annual revenues by at least 50% and that would be possible only through the acquisition of another company. Sumitomo Rubber Industries Ltd of Japan seemed to be a good strategic acquisition for Goodyear because of its Dunlop brand and manufacturing facilities in Japan – a market that Goodyear was looking to aggressively enter into. In this paper‚ we analyze the Goodyear – Sumitomo alliance by broadly discussing about the creation process‚ rationale behind the alliance
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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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