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    3M Corporation

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    3M Corporation is an American multinational conglomerate corporation founded in 1902 with sales revenues of $16.7 billion in 2000. 3M operates in six business segments across Asia Pacific, Europe, and Latin America. Early CEO William McKnight introduced policies that fostered consistent innovation, including allowing scientists to spend 15% of their time on projects of their choice, rotating managers every 5 years to new roles, and providing seed capital for new ideas. These policies and philosophies have helped 3M implement its strategy of innovation over its history.

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    3M Corporation

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    309 views6 pages
    3M Corporation is an American multinational conglomerate corporation founded in 1902 with sales revenues of $16.7 billion in 2000. 3M operates in six business segments across Asia Pacific, Europe, and Latin America. Early CEO William McKnight introduced policies that fostered consistent innovation, including allowing scientists to spend 15% of their time on projects of their choice, rotating managers every 5 years to new roles, and providing seed capital for new ideas. These policies and philosophies have helped 3M implement its strategy of innovation over its history.

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    3M Corporation is an American multinational conglomerate corporation founded in 1902 with sales revenues of $16.7 billion in 2000. 3M operates in six business segments across Asia Pacific, Europe, and Latin America. Early CEO William McKnight introduced policies that fostered consistent innovation, including allowing scientists to spend 15% of their time on projects of their choice, rotating managers every 5 years to new roles, and providing seed capital for new ideas. These policies and philosophies have helped 3M implement its strategy of innovation over its history.

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    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    309 views6 pages

    3M Corporation

    Uploaded by

    help_me_pls
    3M Corporation is an American multinational conglomerate corporation founded in 1902 with sales revenues of $16.7 billion in 2000. 3M operates in six business segments across Asia Pacific, Europe, and Latin America. Early CEO William McKnight introduced policies that fostered consistent innovation, including allowing scientists to spend 15% of their time on projects of their choice, rotating managers every 5 years to new roles, and providing seed capital for new ideas. These policies and philosophies have helped 3M implement its strategy of innovation over its history.

    Copyright:

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    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 6

    Case Study: 3M Corporation

    By: Aniket Reddy Lovenish Ruhela Sagar Thakkar Pankaj Vhatkar 130 131 165 172

    Introduction
    Founded in 1902, the Minnesota Mining & Manufacturing Corporation (3M) Reported sales revenues of $16.7 billion during the year 2000 Presence in Asia Pacific, Europe, and Latin America Active in six business segments. 21 established and strategic brands More than 75,000 3M employees worked to create more than 500 new products every year Between 1985 and 2000, 3Ms gross profit margin averaged over 48 % and return on equity for the company averaged 22.2% 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 consistently

    Case Study
    Discussion Question Evaluate the policies and philosophies of 3M from the standpoint of helping the company implement its strategy, rooted in innovation.

    Selected Policies and Philosophies


    15% Option 30% Rule Dual-Ladder Career Path Seed Capital

    Selected Policies and Philosophies


    Rewards for Success Tolerance for Failure R&D Spending Intrapreneurs

    Selected Policies and Philosophies


    Three-Tiered Research Technology Forums Customer Contact Learnings

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