The 3 M Company
I feel 3M is justifiably highlighted as the ‘innovating machine’ and should be proud to be referred to as this. “For years, people around the world have looked to 3M for products and ideas that solve problems and make their lives easier and better. Our achievements are the foundation of a proud past and the bright future of many innovations to come.” (3M, para1) I think that statement alone shows how people trust the 3M Company in making new products that will help them out. They have implemented strategies and encouraged their employees to use their creative imagination to come up with new products, even if it …show more content…
In this day and age, customers are looking for the newest products out there, so 3M’s goal of 30 percent makes sense to me. They have lived by this for quite some time, so when this was changed, the whole structure of the company and their ideals changed. When they went back to their “old ways” everyone seemed happier.
5. Some people may argue that 3M’s success is largely due to the significance given to science and technology and this is the main lesson for other firms. Discuss the merits of such a view and the extent to which this is the case.
This view is a good argument in many ways. In this day and age, it is important to focus on science and technology. I think it is always a good idea to put time, money, and effort into research and development in order to keep up with innovation. “To support these activities the company invests 6.5 per cent of its annual sales turnover in research and development. This is about twice that of the top 50 industrial companies in the United States. The money is used to employ over 7,500 scientists and technologists in developing new and interesting technology. It is this technological intensity that provides the company with the competitive advantage to compete with its rivals.” (Trott, 546) While science and technology is a large focus for the 3M Company, it implements other strategies that have allowed them to be viewed as innovative. I think corporate culture and the