The company 3M is a diverse company that was incorporated on June 25‚ 1929 with presence in more than 10 industries alone. “3M products are sold through a number of distribution channels‚ including directly to users and through wholesalers‚ retailers‚ jobbers‚ distributors and dealers in a range of trades in a number of countries worldwide” ("3M Co‚" n.d.‚ para. 1) The company head quarters is located in St. Paul Minnesota‚ however 3M has locations all over the United States. 3M is best known within
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Introduction 3M stands for Minnesota Mining and Manufacturing Co. It was founded by five businessmen in 1902 at the town of Two Harbors‚ Minn (3M‚ 2012). They originally financed the company to mine the mineral cornundum for grinding wheel abrasives but the investment became a failure because it turned out that the mineral was actually low-grade anorthosite (Goetz‚ 2011). After being done with mining‚ the founders bought a sand paper company but struggled on how to run it. Eventually‚ Lucius Ordway
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Innovation Best Practices - 3M Case Study Introduction We have been working with a number of global organizations on innovation practices for New Product Introduction (NPI) and have found in companies like: SAP‚ Microsoft‚ Bell Canada‚ Siemens etc‚ - that operationalizing innovation from its early creative stages is a stocatto like tango. Balancing creative tension to ensure innovation downstream execution traction requires tremendous leadership navigation and skill. It is so difficult for
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Hospitals $3.9M sales/month 350 hospitals by VARs Electronic Orders 1‚650 orders/months $2.15 /order Manual Orders 3‚900 orders/months $8.5 /order Direct Electronic Orders 419 orders/months $2.15 /order Manual Orders 654 orders/months $8.5 /order 3M CANADA CS Distribution Center 2.25 FTEs‚ Fixed cost: $37‚500 /month Operated by 3PL Inventory level: $4.5M Storage costs: $6‚750 /month Out-of hospitals $1.7M sales/month 5000 organizations Material Mgmt 2 Material management staffs
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3m Case Study Question 1 There are many examples of successful companies. To what extent is 3M justifiably highlighted as the ‘innovating machine’? 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. 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
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3M “Profile of an Innovating Company” The 3M case traces the history of this Minnesota-based company from its inception in 1902 through 1992. By looking at the tenure of three CEOs‚ the case examines how 3M worked to maintain a culture of innovation while continuing to grow into an international multibillion dollar organization. While the organization’s values are critical to the success of 3M‚ internal and external forces also forced 3M to adjust their business model.
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Advantages and Disadvantages of Fiber Optics An optical fiber is a thin and flexible fiber that carries the light between the two ends of the fiber. Optical fibers are widely used in Fiber Optic Communications‚ which is the transmission over longer distances at higher bandwidths than other communications. A fiber optic communication system consists of three components: an optical transmitter‚ a fiber optic cable‚ and an optical receiver. The optical transmitter converts electrical signal to
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cInnovation Organisations: The 3M Way Damian Gordon Recommended Reading 3M formerly known as the Minnesota Mining and Manufacturing Company Founded on the North Shore of Lake Superior at Two Harbors‚ Minnesota in 1902 With over 76‚000 employees they produce over 55‚000 products‚ including: adhesives‚ abrasives‚ laminates‚ passive fire protection‚ dental products‚ electrical materials‚ electronic circuits and optical films Richard Drew June 22‚ 1899 – December 14
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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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Fiber Optic Safety Rules 1) Keep all food and beverages out of the work area. If fiber particles are ingested they can cause internal hemorrhaging 2) Do not smoke while working with fiber optic systems. 3) Always wear safety glasses with side shields. Treat fiber optic splinters the same as you would glass splinters. 4) Never look directly into the end of fiber cables until you are positive that there is no light source at the other end. Use a fiber optic power meter to make certain the
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