7 Assignment (Case Study – 3M optical systems) 1． Consideration from the point of view of Andy Wong First of all‚ if I were Andy Wong‚ I would approve the expenditure plan in order to challenge the latest computer privacy screens again. That is why there are mainly three reasons. (1) First‚ I think we have some advantages to succeed in this new market. For example‚ we have two strong distribution channels‚ like COSD and DSMD. Or we can utilize various specialists who work for 3M and have variety
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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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Critical Issues Bright Light Innovations SWOT Analysis Strengths A group of professional members of Colorado State University excited about developing and marketing the product The Starlight Stove consumes 50 to 70 percent less fuel than regular stoves The stove generates electricity from a thermoelectric generator. Competitors do not offer the same features as the Starlight Stove. Increase household income because Starlight Stoves allows families to focus more on earning more money rather than
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the organizational structures and devices 3M uses to encourage entrepreneurial activity. Why do they work? 3M heavily based its business on innovation and while doing this it always supported its employees in terms of being innovative. 3M also always followed the alternative ways in order to increase their profit and market share‚ and they found that one of the best ways is through organizational innovation. Therefore‚ in order to improve their business 3M developed 6 different strategies over its
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what extent is 3M justifiably highlighted as the ‘innovating machine’? Answer: This case study has highlighted some of the key activities and principles that contribute to 3M’s performance. Many of these are not new and are indeed used by other companies. However‚ in 3M’s case they may be summarized as an effective company culture that nurtures innovation and a range of management techniques and strategies that together have delivered long-term success. There is evidence that 3M supports these
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Ahmed Hashmi‚ Senior Supply Chain Manager at 3M Pakistan who provided us with the required information to complete our research report on 3M. In addition‚ I would like to thank my institute PAF-KIET for providing us such a platform to complete our management project on 3M. Which increased our knowledge regarding management. Contents Acknowledgement 1 3MIntroduction 3 Company History 3 Vision Statement 4 Mission Statement 4 Quick Facts 4 SWOT Analysis 5 Key Success Factors 5 Planning & Controlling
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3M’s rhythm of change: 3M started as a mining and manufacturing company but soon developed into and moving toward technological innovations and products an example of steady rejuvenation. This kind of change was continuous throughout the life cycle of the company. The change started when a young book keeper named William L.McKnight took the place of 3M’s sales manager and observed the quality problems with company’s products. He started with a systematic change which eventually took effort after
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Competency Model: An Internally Developed Solution • 133 3M’S LEADERSHIP COMPETENCY MODEL: AN INTERNALLY DEVELOPED SOLUTION Margaret E. Alldredge and Kevin J. Nilan This article describes the development of an executive-level global competency model at 3M. The work on this model was completed in partnership with the company’s top executives and a global team of in-house professionals. The competency model itself consists of 12 competencies and generalizable behavioral anchors for each competency. The
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3M Corporation Company Background: The Minnesota Mining & Manufacturing Corporation (3M) was founded in 1902. It reported sales revenues of $16.7 billion during the year 2000. These revenues came from 3M ’s six business divisions: industrial; transportation‚ graphics‚ and safety; healthcare; consumer and office; electro and communications; and specialty materials. All business divisions were profitable in 2000. The same year‚ the company made more than 60‚000 products and about $5.6 billion sales
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Six Sigma at 3M 1. What are the potential benefits and risks of implementing Six Sigma at 3M? Benefits: Six sigma not only provides a platform to improve existing processes but also enables 3M to design new processes in an efficient manner so that it results in lowered costs‚ increased sales‚ improved customer satisfaction‚ improved managerial development‚ increased cash flow and increased pace of development of 3M. 3M Acceleration was implemented by 3M to improve efficiency and pace of product development
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