Minnesota Mining & Manufacturing Company Case Study Table of contents Table of contents Page 1 Introduction to 3M Page 2 Market and products Page 2 Performance over the last 5 years Page 3 International Marketing Activities Page 4 Miscellaneous Topics Page 6 Appendix 1 Page 7 References Page 8 Introduction to 3M 3M Company‚ the Minnesota Mining and Manufacturing Company‚ was founded in 1902 by five businessmen. They wanted to make a profit out of minerals for grinding
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emerged over time? 3M goes back to 1902 when five Minnesota businessmen established the Minnesota Mining and Manufacturing Co. to mine a mineral that they thought was corundum‚ which is ideal for making sandpaper. The mineral‚ however‚ turned out to be low-grade anorthosite‚ nowhere near as suitable for making sandpaper‚ and the company nearly failed. To try and salvage the business‚ 3M turned to making the sandpaper itself using materials purchased from another source. In 1907‚ 3M hired a twenty-year-old
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3M CASE STUDY Q1) Conservative Approach: Three Product Concepts * Mandate from management * Should not risk new process; Dunlop may use “revolution” against new method * Need to validate method at least once before basing major strategic decisions on it. * Not enough data yet to make such a drastic recommendation * Three concepts appear very promising and are enough of a “success” already. Radical Approach: New Business Unit Strategy * Team was charged with finding breakthroughs;
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Strength : 1) Since 3M Co. holds its consistency in the industry for 80 years of operation‚ rendering good qualities of their products and services satisfying the needs of their customers and clients. 2) Taking risk in expanding of subsidiaries in the global market. Recruiting thousands of employees to be part of the company. Weaknesses: 1) No formal organizational chart was formulated in company. 2) Not advisable to put a word “ AUTONOMOUS” which is subject to its own laws or regulation only
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------------------------------------------------- Case Study: 3M Q: Can other Companies just copy 3M’s structures and culture and become successful innovators also? 3M’s organizational structure is built around cultures that encourage innovation. From this angle‚ the company was able to develop 6 business strategies to promote entrepreneurship and increase customer satisfaction. For decades‚ 3M has been known as an entrepreneurial organization that pursues growth through innovation. Innovation
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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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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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company----3M. 3M is a manufacturing company that has a long history‚ it has a series of well-known products and brands. The first part of the paper will identify and discuss three issues in the case study of 3M‚ which intrigues me the most. In the next part of the paper‚ the creative innovation method used in 3M will be hypothetically applied to an electronic company in Hong Kong; the difficulty that might be confronted will be discussed. In the last part of the paper‚ the method of 3M will be applied
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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 27 Recommend an integrated and coordinated set of commitments and actions which will exploit the company ’s core competencies (CCs)‚ strengthen its competitive advantage (CA)
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Innovation at 3M Corporation Case Summary 3M was and still is a worldwide leader in innovation. After a rough start in 1902‚ over decades‚ 3M enjoyed national and global growth as well as a reputation for remaining a hothouse of innovation. In the 1990’s‚ 3M was trying to move away from the incrementalism and it sought to change the mix of new products to truly create something new to the world‚ instead of line extensions‚ which typically had provided two out of three new-product sales dollars
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