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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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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Multinational Management of Working Capital MNCs tie up funds when investing in their working capital‚ which includes short term assets such as inventory‚ accounts receivable‚ and cash. They attempt working capital management by maintaining sufficient short-term assets to support their operations. Yet‚ they do not want to invest excessively in short-term assets because these funds might be put to better use. The management of working capital is more complex for MNCs that have foreign subsidiaries
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notes‚ due to their innovative nature‚ turned out to be the sort of product which is difficult to describe to people who are unfamiliar with it. A Post-it note solves a problem that people were not even aware they had‚ yet it is just a sticky piece of paper. Doesn’t sound interesting... For these reasons regular advertising campaigns proved ineffective. 2. Silver – invented the adhesive and kept the "project" alive for a long time. Fry – came up with the product idea for Post-it and led the team that
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devices 3M uses to encourage entrepreneurial activity. Why do they work? 3M heavily based its business on innovation and while doing this it always supported its employees in terms of being innovative. 3M also always followed the alternative ways in order to increase their profit and market share‚ and they found that one of the best ways is through organizational innovation. Therefore‚ in order to improve their business 3M developed 6 different strategies over its history. These strategies helped
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Outcome Presentations Declaration of Accra Conference Abstracts Internet Forum o Call for Papers o Sponsors and Affiliates o Conference Venue o Travel to Ghana o GGC 2009 Conference Committee Conference Papers • Presentations • Abstracts • Photo Gallery • Workshops o Cybercrime Workshop o Health Care Workshop • About o About GGC o Educational Projects o Partners and Affiliates • Contact Paper 4 - Working Capital Management and Firm Performance Working Capital Management
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PGDIB SUMMER PROJECT 2006-2008 “Working Capital Financing to SMEs” AT The Hong Kong and Shanghai Banking Corporation Limited TABLE OF CONTENT INDEX TO CONTENTS PAGE NO. 1. Executive Summary 1 2. Introduction 2 3. Review of literature
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assume greater importance. The company would need more working capital funds to support the expanding sales. Mr Shyam Lal knew that it may not be easy to get funds from banks. He was wondering how he could reduce the working capital funds requirement of his company without affecting the sales. In the beginning of 2009‚ Mr Shyam Lal‚ Chairman and Managing Director of Reliable Texamill Limited (RTL)was concerned about the company’s working capital management. As the company was expecting its net sales
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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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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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