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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Innovation at 3M 3M attributed much of its growth to its innovative products and incremental/extensions of existing products. However‚ of late they hadn’t come up with anything significant and they were stagnating. At this point‚ Ms. Rita Shor implemented the “Lead User Research” methodology to come up with four recommendations on new innovative products and strategy. In my opinion‚ Ms. Shor should put forward their first three recommendations to Mr. Dunlop. They consisted of development of three
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3M Optical Systems: Managing Corporate Entrepreneurship MST550 – Capstone Professor Jack Raiton HBSP Case #395-017 Discussion Questions 1. What practices make 3M such an innovative company? 2. What is Any Wong’s role as the OS Unit’s general manager? How effective has he been? 3. What is Paul Guehler’s role as division vicepresident? How effective has he been? 4. What should Andy Wong do with the computer screen AFE? If he gets the AFE‚ should Guehler fund it? Case Outline • • • • • •
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As to the strategy of 3M‚ the company mainly focuses on its innovation. The company improves its products through industrial‚ electronic market and transportation. The examples of the products of the company are waterproof sand paper (the company’s first product) and post-it-notes. The company performance on management is considered visionary because it offered innovative products which holds higher quality and is more convenient in the matter of usage. The CEO of the company has a rule which stated
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3M Strategy 1) How does your company handle strategy? How does your company handle strategy? Minnesota Mining and Manufacturing‚ also known as 3M‚ is one of the world’s premier manufacturing companies. The 3M Company handles strategy like mostly any other business. The number one reason people go into a business is because they want to make as much money as possible. This can be accomplished if they have a strategic approach to it. For example‚ the most important strategy that 3M uses is selling
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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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Case study-The 3M Company Insert name Insert institution Insert instructor’s name Insert the date Case study-The 3M Company Initially known as the Minnesota Mining and Manufacturing Company‚ this company was pioneered in 1902 at Minnesota near Lake Superior. It was set up to sell mineral deposits which were later proved to be valueless and this initiated early research and development of this company while in Duluth. This saw its success in selling sandpaper products. The company later increased
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3M The article “Strategic Stories: How 3M is Rewriting Business Planning” is a two in one type of article. The author initially discusses the drawbacks of using bullet point in presentations‚ mainly on how it contains lack of information‚ clarity and attention to the audience. The author continues by giving an alternative way of delivering the idea in mind by a strategic narrative style‚ which captures the audience and delivers the points needed to be made effectively. Throughout the article the
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New companies entering the market‚ mergers‚ and globalization‚ on pricing and the sustainability of profits Sustainability at 3M grew from a commitment to both innovation and ethical conduct. By continually increasing sustainability at the economic‚ social‚ and environmental levels‚ we believe we are building a strong‚ vital company today‚ and leaving a rich legacy on which future generation. We recognized early that doing business in new‚ smarter ways would not only create a more viable
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Case Studies 3M1: Rethinking Innovation Background Large (70K employees‚ $15bn sales)‚ global operations (200 countries)‚ multi-product (50K range)‚ multi-market business. Innovation ‘Claim to Fame’ This company has been around for just over 100 years and during that period has established a clear reputation as a major innovator. Their technical competence has been built up by a long-term commitment to R&D on which they currently spend around $1bn p.a.; this has yielded them a regular position
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