3m in the New Millennium

INTRODUCTION Founded in 1902, the Minnesota Mining & Manufacturing Corporation (3M) when five business community agreed to mine a mineral deposit for grinding-wheel abrasives. primal technical and marketing renewals began to produce successes and, in 1916, the caller pay its graduation dividend of 6 cents a share. beforehand(predicate) innovations include: ?The initiations first waterproof sandpaper, which reduced disperseborne dusts during automotive manufacturing, was highly-developed in the early 1920s. ?Richard G. Drew, a young lab assistant, invented binding tape in 1925 - the first step toward diversification and the first of many Scotch tapes. ?In the 1950s, 3M introduced the Thermo-Fax? copying process, Scotchguard? Fabric Protector, videotape, and Scotch-Brite® change Pads (3M India). 3M has identified 21 established and new strategic brands. somewhat of its best-kn ingest brands are Scotch tapes, Scotch-Brite cleaning products, and Post-it notes. Newer brands include Thinsulate products, Filtrete air cleaning filters and Nexcare first-aid products. 3M has institutionalized a corporate culture that promotes intrapreneurship. Early in 3Ms history, chair and CEO William L.

McKnight, long considered to be the companys spiritual founder, introduced policies and philosophies that were considered to be responsible for 3Ms ability to innovate systematically ? seed capital, 15 per centum option, dual-ladder career path, etc. sure management has continued to embrace and expand these policies and philosophies, believing innovation to be the cornerstone of 3Ms future success. SWOT ANALYSIS Strengths ? Progressive/forward-moving thinking is one of 3Ms largest strengths. Mr. McKnights forethought into hiring a scientist to develop their pilot Wetordry sandpaper was years ahead of its time. Allowing employees to use fifteen percent of their on clock time to develop/experiment with their own innovations not only shows trust in employees but set their ideas and fosters a healthy... If you want to get a full essay, straddle it on our website: Ordercustompaper.com

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