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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International college of business & technology NUGEGODA CAMPUS Managing Corporate Responsibility in the wider Business Environment Student: Ali Aslam Student number: Lecturer: Mr. Akash Hettiarachchi 12/31/2013 Statement of the originality of submitted work I; Ali Aslam Student ID number: Module Name: Managing Corporate Responsibility in the Wider Business Environment I hereby confirm that the work presented here in this assignment/report and in all the associated
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Two of the most important sensory systems in human body are optical system and auditory system. Optical system or sometime called visual system involved in the process of taken amount of stimuli and transfer it into some figure that we can perceive as images that make senses. Auditory systems involved in sound wave that transduced by drum ear into some kind of vibration that eventually gets converted back into wave what we perceive as noise. There are a lot of similarities in their mechanisms of
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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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Innovation generally refers to renewing‚ changing or creating more effective processes‚ products or ways of doing things. Innovation in your business means doing something new‚ different‚ smarter or better that will make a positive difference. Innovation can be a catalyst for the growth and success of your business‚ and help you adapt and grow in the marketplace. Being innovative does not mean inventing; innovation can mean changing your business model and adapting to changes in your environment
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3M Introduction 3M is fundamentally a science-based company. We produce thousands of imaginative products‚ and we’re a leader in scores of markets - from health care and highway safety to office products and abrasives and adhesives. Our success begins with our ability to apply our technologies - often in combination - to an endless array of real-world customer needs. Of course‚ all of this is made possible by the people of 3M and their singular commitment to make life easier and better for people
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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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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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disaster into best plant? This report is going to examine a dramatic change conducted by NUMMI’s leadership. It will address three main reasons which made this change possible: • Creating a new production system • Developing a new management system • Reformation of corporate culture. And finally‚ the recommendations will be identified that should have been implemented in order to run the plant efficiently another two or more decades. Analysis of Situation By 1982‚ GM’s Fremont
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3M and Norton Evolutionary vs. Classical Strategic Management A Case Study from Jim Collins & Jerry Porras‚ Built to Last‚ 1997 Questions for Discussion (1) 3M’s strategy contradicts nearly everything that an MBA program is supposed to teach you about planning and control. Explain: a. How would marketing studies and product planning benefit 3M in producing more successful products? b. How 3M can expect to survive in the long run if it is unable to compute the return on investment and cash
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