...met the business challenges and once again delivered strong results. George W. Buckley Chairman of the Board, President and Chief Executive Officer Despite all this turbulence, full-year sales increased 11 percent to $29.6 billion, with double-digit growth in Industrial and Transportation; Safety, Security and Protection Services; and Health Care. Operating margins were 20.9 percent for the company, and all businesses delivered margins of 20 percent or higher, which is an amazing feat of consistency. Inge G. Thulin named President and Chief Executive Officer, 3M Company, Feb. 24, 2012 Inge G. Thulin, 58, was named president and chief executive officer of 3M Company effective Feb. 24, 2012. A 32-year veteran of 3M, he served as executive vice president and chief operating officer of 3M since May of 2011, after having served as executive vice president, 3M International Operations since 2003. Mr. Thulin joined 3M Sweden in 1979, working in sales and marketing, and subsequently assumed...
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...people also met the business challenges and once again delivered strong results. George W. Buckley Chairman of the Board, President and Chief Executive Officer Despite all this turbulence, full-year sales increased 11 percent to $29.6 billion, with double-digit growth in Industrial and Transportation; Safety, Security and Protection Services; and Health Care. Operating margins were 20.9 percent for the company, and all businesses delivered margins of 20 percent or higher, which is an amazing feat of consistency. Inge G. Thulin named President and Chief Executive Officer, 3M Company, Feb. 24, 2012 Inge G. Thulin, 58, was named president and chief executive officer of 3M Company effective Feb. 24, 2012. A 32-year veteran of 3M, he served as executive vice president and chief operating officer of 3M since May of 2011, after having served as executive vice president, 3M International Operations since 2003. Mr. Thulin joined 3M Sweden in 1979, working in sales and marketing, and subsequently assumed levels of...
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...Innovation Organisations: The 3M Way Damian Gordon Recommended Reading 3M formerly known as the Minnesota Mining and Manufacturing Company Founded on the North Shore of Lake Superior at Two Harbors, Minnesota in 1902 With over 76,000 employees they produce over 55,000 products, including: adhesives, abrasives, laminates, passive fire protection, dental products, electrical materials, electronic circuits and optical films Richard Drew June 22, 1899 – December 14, 1980 American inventor who worked for 3M in St. Paul, Minnesota, where he invented; – – – Masking tape, Cellophane tape, and Duct tape. Masking Tape In 1923 3M employee Richard Drew visited an autorepair shop in St. Paul, Minnesota. 3M produced and sold sandpaper and Drew was in the shop to test out a new batch. Masking Tape When he entered the shop employees were expressing disappointment at a failed attempt to paint a car in the two-tone style that was becoming popular at the time. Masking Tape Typically how the effect was achieved was by painting part of the car in one colour while covering the other parts with butcher paper The butcher paper was usually held in place with a heavy adhesive tape. Unfortunately, removing the adhesive tape peeled away part of the paint job. THE IMPORTANT BIT: Rather than just sympathise with his customers and move on, Drew decided to do something about it. Masking Tape His company 3M had a lot of know-how in creating adhesives...
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...Introduction The Minnesota Mining and Manufacturing company, or more commonly known and abbreviated as 3M, was found in 1902 in Two Harbors, US. The company started out by mining corundum which was to be used to make sandpaper and grinding wheels but soon seized operations when artificial replacements made the mineral worthless. 3M then turned to producing grinding wheels and sandpaper themselves, and only then were things were then looking up. Having difficulty with quality and marketing its products, the management supported its workers to innovate and develop new products which became its core business. Over the years, 3M and its division have produced many unique and inventive products for households and production alike. Popular Innovations from 3M: Waterproof sandpaper Post-it notes Scotch tape – Masking tape Imation Corporation Nowadays, with the vision of “the ability to not only develop unique products, but also to manufacture them efficiently and consistently around the world”, 3M operates with over 80,000 employees in more than 60 countries producing in access of 55,000 different products. 3M Business Unit: Abrasive Systems Division 3M Abrasive Systems is the core business that the company started with over 100 years ago. Part of the Industrial and Transportation business, today, it produces a complete line of coated abrasives, abrasives, microfinishing and microreplicated abrasives, plus hardware accessories which are available in sheets, rolls...
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...is a product so conceptually simple, that in the technologically advanced time we live in, we have been almost desensitised to its brilliant innovation. The innovation of the Post It Note went through a number of distinct stages and processes. In this assignment I will attempt to give a clear and cohesive analysis starting from the earliest ideas of the Post It right through to the products available today. 3M The physical invention of the post it spanned over a period of 10 years, however, I believe the earliest derivation of the modern day Post It Note can be traced back to the very establishment of the 3M Company itself. In 1902 the business got off to a rather bad start when a group of investors by mistake bought a mountain containing worthless mineral to start a business to mine corundum to manufacture sand paper). Unsurprisingly the company did not generate profit for 14 years. Seemingly spurred on by their less than successful origins, 3m have since always strived to create a working environment in which innovation can flourish. Brand (1998) on the topic of 3m states that “to guarantee such conditions are in place and sustained over time, requires a long term commitment from top management, the recruitment and retention of the right people and a strong support and recognition programme.” Brand (1998) insists however that innovation cannot be allocated to one or two individuals in an organisation, that “it must permeate the entire fabric of an organisation and every department...
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...3M has been known for decades as an entrepreneurial company that peruses growth through innovation. It generates a quarter of its annual revenues from products less than 5 years old. Long before “reinvention” became a buzzword of American business, 3M already had made change a central part of its corporate culture [1]. Many say the company’s success over the years is linked to its ability to change as 3M, its products and the world marketplace evolves. Once 3M top management has long felt that the 3M innovation process was being focus on incremental improvements to existing product lines. They urgently wanted to improve matters, and wanted especially to improve 3M's ability to respond to the "unarticulated needs" of customers by providing breakthroughs and services. Among many methods of innovation that the 3M used to improve their capability of making breakthroughs, The Lead User process offered a promising solution to that problem. Von Hipple (1999) marks that the Lead User market research method is built around the idea that the richest understanding of new product and service needs is held by just a few "Lead Users." They can be identified and drawn into a process of joint development of new product or service concepts with manufacturer personnel. In this research after a general description of innovation definition, the 3M Company is introduced as the research case study. In the fourth part the culture and methods of innovation that made or used by the 3M is discussed. And...
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...opportunities and threats to assist 3M in making business strategic plans and decisions (Renault 2015). Whereas, opportunity-based theory is used to support the behavior of 3M’s leaders in discovering and taking advantages of possibilities in the business without regarding to resources currently controlled (Pramanik 2015). SWOT Analysis stands for strengths, weaknesses, opportunities and threats existing in the business of 3M. In term of strengths, 3M has a diversified business because of their broad range of products and 6 different types of business segments provided. For example, the various products include Post-It Notes, Scotch Tape, high-tech LCD films and so on while the business segments include Healthcare, Industrial & Transportation, Consumer & Office, Display & Graphics (D&G) and so on to figure 1 in appendix list. Besides, 3M has also a strong Research and Development (R&D) where they spend more than a billion dollars on R&D in a year, around 20% of this budget supports its 32 technology centers. At the same time, 3M also employed approximately 1000 researchers that work in each of the technology centers to improve new product development (Gerybadze n.d.). In addition, there are various R&D centers established such as central research function in 1937, Technical Forum in 1951 and so on based on the 3M case study. Furthermore, another strength of 3M Company is that it has strong innovation and made 3M included in the list of 50 most innovative...
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...3M in 2006 Prior to reading the 3M case, I was unaware of this historic corporation that dominates a wide range of markets today. I have heard and purchased products such as Post-it Note, Scotch Tape, and Scotch-Brite; however, I did not know all these products and many more belong to 3M Company. 3M was initiated in 1902 by five businessmen in Minnesota and its first product was the development of sandpaper. William McKnight was the leading figure and CEO of 3M who revolutionized the company and led it to its initial success. He and other prominent figures at that time evolved the company culture into a unique innovative organization. 3M was the first company to utilize various strategies that differentiated them from other organizations at the time. For instance, they applied product diversification, which was done by creating brand extensions, production modifications, or creating brand new products. A large number of ground-breaking products were created by, “leveraging existing technology and applying it to new areas”. (p. C437) This strategy was not common in other industries during that time period. This unique culture assisted 3M by allowing the company to reach out to markets their competitors could not have access too. This advantage gave 3M the opportunity to acquire a wide range of new consumers across different market sectors. It placed them as the top dog in supplying daily essentials for individuals, families, manufacturers, and suppliers. Another strategy...
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...THE COMPANY U.M.I. was incorporated in the state of Florida in 1993. We are manufacturers and distributors of parts, specialty pressure sensitive tape products and services for the production of daily and weekly newspapers. The legal name of the business is Uhrig & MacKenzie, Incorporated, d.b.a./ U.M.I. U.M.I. is an “S” Corporation. Our principal offices are located at 2821-A Worth Avenue, Englewood, Florida 34224. STRATEGIC ALLIANCES U.M.I. has developed important and profitable strategic alliances and exclusive marketing agreements with several larger and more established businesses. For example, We have developed exclusive marketing agreements with: • Lohmann Technologies of Hebron, KY • 3M Company • Support Products of Effingham, IL • The Flint Ink Company Lohmann Technologies is a world leader in the manufacture of medical and industrial pressure sensitive tapes. Through a concerted effort, we have been able to secure 20% percent of sales of these products to the newspaper industry. Support Products is a recognized leader in the manufacture of various equipment used by both commercial printers as well as newspapers. We have an exclusive marketing agreement to sell a new and unique cost saving, quality enhancing, anti-fanout device that has the potential to be utilized by...
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...arriving in Minnesota from Milan last year, Mauro and his wife, Elisa, can't help but stand out. | Photo by David Bowman The Nine Passions Of 3M's Mauro Porcini By Chuck Salter 1. Mauro loves his pink lion. One Saturday afternoon last spring, he and his wife, Elisa, front-runners for the title of Minnesota's most glamorous Italian transplants, stumbled onto an eclectic sale in a parking lot on the outskirts of St. Paul. As soon as he saw the white stone statue of a regal lion, Mauro didn't hesitate forking over a few hundred bucks. He knew exactly what he wanted to do with it. "I painted it fluo [as in fluorescent] pink myself," he says. And he put it in his front yard for all to see. Mauro Porcini is the resident design guru at 3M, the materials-science conglomerate based in St. Paul. Throughout the company, he's simply known as Mauro--a renaissance man who's transcended his last name. Although most of his Midwestern colleagues pronounce it MORE-oh, it actually rhymes with WOW-whoa, which is also the typical reaction to the flamingo-colored sculpture that now resides across the street from the Oak Ridge Country Club. The club had been lion-free for 90 years until Mauro moved from Milan in 2010 to Hopkins, a Minneapolis suburb dotted with low-pitch ranch homes like his. "The neighbors stop and take pictures," he says, smiling as he gazes at his yard one night in June. In his mind, Mauro says, the beast roars, "This house is owned by a designer, someone who likes to think...
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...Overview 1. Market Analysis 1.1 Market Environment 1.2 Market Segment 2. Competitor Analysis 3. Consumer Analysis 3.1 Consumer Trend 3.2 Consumer Needs And Wants 3.3 Consumer Behaviour 4. Post-it Analysis 4.1 Target Segment 4.2 Distribution Characteristics 4.3 Business Performance 4.4 Business Strategy – 5Ps 4.5 SWOT Analysis 5. Proposed Marketing Plan 5.1 Target Segment 5.2 Positioning 5.3 Strategy 5.4 Conclusion 1. Market Analysis The repositionable notes market is made up of paper or tabs with adhesive, which allows the product to be stuck on surfaces and moved, without leaving residue. They are also known as ‘sticky notes’ and the idea was first conceived by 3M innovators. Post-it, the original inventor of ‘sticky notes’ have seen other competitors entering the market, yet having little success in toppling Post-it as the market leader. This is especially so in Singapore, where most of the brands shy away from competing head-on with Post-it, by differentiating their products. 1.1 Market Environment 1.1.1 Technology The ease of accessing wireless networks via Wireless@SG, since its introduction in 2006, has led to a surge in consumers switching to 3G phones. The implications of this on the repositionable notes market is that gadgets like phones are increasingly being used as a substitute in place of sticky notes, in reminding people of certain events or things. Instead of physically placing a post-it on the desk, people choose to set...
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...HRM in an MNE Human Resource Management involves a broad set of managerial activities focused on developing and maintaining a qualified workforce in ways that contribute to an effective organization. HRM is becoming more important every day and requires dedicated employees who can balance legal and ethical issues for organizations to be successful; which result from the importance of people as a source of competitive advantage. For a company to produce its goods and services in a productive manner, HRM accommodates employees with the right skills and training, and provide them with an environment in which they can make a powerful impact (Denisi/Griffin, 2012). Compare and contrast two main differences between domestic and international HRM. One main difference between domestic and international HRM is that staff are transferred to different countries to work various roles within the international company’s foreign operations; these employees are called expatriates, who temporarily work and live in a foreign country. For a human resource department to operate in international HRM, they must participate in a variety of activities, such as international taxation, administrative services for expatriates, and services for language translation (Dowling/Festing/Engle, 2013). The second difference between domestic and international HRM, is that IHRM requires a greater involvement in the personal life of the employees. The HRM are responsible for making sure the expatriate understands...
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...Marketing Fudamentals June 17, 2014 3M Case Post-it. Preguntas 1. A) ¿Cómo obtuvo David Windorski ideas de los estudiantes universitarios que le ayudaron a diseñar la versión comercial final de marca textos con banderitas Post-it? B) ¿Cuál fue la importancia de estas ideas para el éxito del producto? 2. ¿Que A) Ventajas especiales y B) problemas potenciales tuvo 3M al introducir un nuevo producto de marca textos con banderitas para los estudiantes universitarios en 2004? 3. Visite su librería universitaria antes de responder A) ¿dónde exhibiría el marca textos con banderitas Post-it en una librería universitaria? B) ¿de qué modo puede usted lograr que el exhibidor comunique al mayor número de estudiantes la existencia del producto? 4. ¿de qué manera podría 3M promover su marca textos con banderitas Post-it para que los estudiantes se den más cuenta de la existencia del producto? 5. ¿Cuáles son A) las oportunidades particulares y B) los desafíos potenciales para 3M derivadas de llevar su marca textos con banderitas Post-it a los mercados internacionales? C) ¿en qué países debería 3M concentrar sus esfuerzos de marketing? Questions 1. (a) How did 3M’s David Windorski get ideas from college students to help him in designing the final commercial version of the Post-it® Flag Highlighter? (b) How were these ideas important to the success of the product? 2. What (a) special advantages and (b) potential problems did 3M have in introducing a new highlighter-with-flags...
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...Case study An analysis of 3M, the innovation company Introduction Any review of the literature on new product development and innovation management will uncover numerous references to 3M. The organisation is synonymous with innovation and has been described as ‘a smooth running innovation machine’ (Mitchell, 1989). Year after year 3M is celebrated in the Fortune 500 rankings as the ‘most respected company’ and the ‘most innovative company’. Management gurus from Peter Drucker to Tom Peters continually refer to the company as a shining example of an innovative company. This case study takes a look at the company behind some of the most famous brands in the marketplace, including Post-it® Notes. It examines the company’s heritage and shows how it has arrived at this enviable position. Furthermore, the case study attempts to clarify what it is that makes 3M stand out from other organisations. Background Originally known as the Minnesota Mining and Manufacturing Company, with its headquarters in St Paul, Minnesota, 3M was established in 1902 to mine abrasive minerals for the production of a single product, sandpaper. From these inauspicious beginnings, the company has grown organically, concentrating on the internal development of new products in a variety of different industries. The latest review of the company’s position reveals that it manufactures over 60,000 products, has operations in 61 countries, employs 75,000 people and has achieved an average year-on-year growth...
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...Abstract . 3M Corporation History of the 3M Corporation What started off as a small company in the Lake Superior Town of Two Harbors, Minnesota in the year 1902 – 3M has grown into a worldwide corporation with companies in over 60 countries. Things seemed bright in June 1902, when Two Harbors attorney John Dwan drew up articles of incorporation and added his $1,000 to that of other charter board members, meat market owner Hermon Cable, Dr. J. Danley Budd, the city’s leading physician, and Duluth and Iron Range Railroad executives William McGonagle and Henry Bryan (3M Corporation, 2015). The five men set out looking for the next new product. They wanted to mine a certain type of mineral deposit (Corundum) to use as an adhesive for grinding-wheels. Corundum was in demand as the premier abrasive for grinding wheels, sandpaper and other items to polish, shape, sharpen and decorate items produced by America’s increasingly industrialized economy. This new source of corundum was greeted jubilantly; the only other North American source was in Ontario. The problem – one that surfaced after the company had incurred a large start-up debt – was that the corundum was not there on Lake Superior’s Minnesota north shore. What was there was anorthosite, which is useless as an abrasive (Bishop, 2005). So within a couple of years of its founding, 3M had tons of mineral for sale, no customers and was all but bankrupt. When mining turned out to be of little use and a failed attempt with mineral...
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