Ethics and Product Consumption Paper (3M Company) Keith D. Howard MKT/41 February 23‚ 2015 Instructor: Glenna Twing Ethics and Product Consumption Paper (3M Company) The paper will identify how 3M Company conducts business in an ethical manner by evaluating the company’s performance when marketing their products using the six pillars of the marketing codes of ethics. These codes of ethics include honesty‚ responsibility‚ caring‚ respect‚ fairness‚ and citizenship. To ensure the codes of ethical
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timeout. chill yo hacks care no worrieshuecfcfvgvflkfc ckjcc jvj 3M should regain its closeness to the consumers ic./lr;‚vl/ds becausgtge the current metgtgthujhod is insufghytrecficient to produgvhce and pvgrsrepare the company for thvfvgbe futuvgvfre magvgfbgbrket. As ‚dxjsxldwixkldckr.the current method works mainly on incremedcvdzxrxntal innfgbhnyujovatjurydions‚ it neglects the radikdmklcm cal innoswvations which are mnkclkmrucial to keep up with the cum stomers’ expectaklmxs axtions
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3M Moves to a Customer Focus Using a Global Data Warehouse Dale Goodhue‚ University of Georgia Barbara Wixom‚ University of Virginia Introduction In 1995‚ 3M Chairman and CEO L. D. DeSimone along with his top management team recognized that the focus of 3M had to change. For nearly 100 years‚ 3M manufactured products to make life easier‚ safer‚ healthier‚ and more productive for people in nearly 200 countries. In the excitement of creating innovative products‚ however‚ 3M was ignoring its
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the external environment (part 1) What’s going on out there now and in the future? Environmental influences in the broadest sense Macro/general environment: PESTEL Environmental influences related to the dynamics of the industry under question Competitive environment: Porter’s Five Forces (Porter‚ 1980) Example PESTEL The automobile industry Political – Climate change agenda – Fuel prices – Expansion of EU Economic – – – – Changes in disposable income Exchange rates
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Cultures. 3M tries to make a difference Russia Should 3M export its American ethical standards to Russia? 1. If 3M doesn’t like the way things are done in Russia‚ it shouldn’t do business there. Explain your rationale. I do not agree with this statement. From my marketing perspective‚ it is a challenge of 3M in order to go worldwide‚ and this is a challenge they should take. Russia is booming in oil and gas‚ mining‚ construction‚ IT‚ retail‚ and service sectors. (Klumov‚ 2006). 3M should realize
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3M Questions 1. How can 3M hold on to the notion of accepting failures to achieve the winners during recessionary times and shorter product life cycles (PLC)? 2. What changes would you make in the 3M marketing strategy if it became apparent that generic competitors were consistently able to copy the innovative 3M products? 3. How well has 3M applied the marketing concepts discussed in the text chapter? Suggested Responses 1. With its vaunted positive attitude toward accepting
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and Technological forces. These are known as PEST factors. 1 2 PESTEL analysis of the macro-environment There are many factors in the macro-environment that will effect the decisions of the managers of any organisation. Tax changes‚ new laws‚ trade barriers‚ demographic change and government policy changes are all examples of macro change. To help analyse these factors managers can categorise them using the PESTEL model. This classification distinguishes between:
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Besides that‚ PESTEL analysis will also be taken into account not only as a remarkable tool to analyze business environment but also as a supportive technique to utilize SWOT analysis. Moreover‚ this essay will shortly touch upon the Tows matrix as a sophisticated upgrade
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3M’s Sports and Leisure Products business unit took an existing technology‚ 3M’s “micro-replication” and applied it to a golf glove. 3M has enjoyed great success from combining the “micro-replication” with high quality Cabretta sheep leather to create a high quality golfing glove that is second to none being offered on the market. Since the introduction of the 3M Greptile Grip golf glove there has been a large influx of competitors who offer a similar technology in the golf market. Although the
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Using PESTEL Analysis in Strategic Planning For Non-Profits PESTEL is a method of analysing the impact a variety of factors may have on potential profitability of an organisation or industry. A macro environmental analysis technique‚ PESTEL analyses the impact that political‚ economic‚ socio-cultural‚ technological‚ environmental and legal factors may have on an industry’s profitability potential (Johnson‚ Scholes & Whittington‚ 2005). Within each major PESTEL heading‚ there are a variety of sub-factors
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