Ankur Dixit Arpit Srivastava

SaurabhHitesh Kumar

Brijesh YaduvanshiMukul Bhalla

Priyanka Kanodia

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.

3M has stringent quality policy of six sigma across their manufacturing units.

3M at a Glance (Year-end 2010)

Global sales: $27 billion.

International (non-US) sales: $17.5 billion (65 per cent of company's total).

Operations in more than 65 countries.

3M products sold in nearly 200 countries.

80,000 employees globally.

3M In India Turnover of Rs. 1176 crores

Head Office at Bengaluru.

Innovation Labs at Bengaluru & Gurgaon (NCR).

Approximately 1800 + Employees (As of June 2011).

Approximately 7000 Products sold in India.

PRODUCT RANGE

GLOBAL PRODUCTS Adhesives, abrasives, laminates, passive fire protection, dental

products, electrical materials, electronic circuits and optical films

3M INDIA Scotch brite, Post-it, Adhesion tapes, Films on glasses, Teflon

coating(car)

Industrial Transportation, Electro and Communications, Healthcare, Display & Graphics, Safety, Security & Protection Services, Consumer & Office

Mistake = Magic = Money Belief: Random chance into company policy

William McKnight - 1959 “innovation and risk taking“

McKnight Principles'

Location of Factor TYPE OF FACTOR

Favorable Unfavorable

InternalStrengths•Strong research and development capability •Diversified business and geographic presence •Strong growth in revenues and profits

Weaknesses•Weak inventory turnover ratio •Weak performance in key segment

ExternalOpportunities•Recent acquisitions •Global expansion •Rising healthcare spending in the US

Threats•Rising energy prices •Currency risks •Environment regulations

SWOT ANALYSIS

INNOVATION “make a little ,sell a little , make a little more and keep learning from the market”

Knowledge by design Knowledge by emergence Cross divisional cooperation Coping with chaos

What 3M does right

15% of all employee’s time is allowed to be on their pet projects (the “3M Way”).

The work of outstanding technical employees is recognised by the 3M Carlton Society, this is voted on by peers.

Employees that create products which sell $4 million or more are awarded the prestigious Golden Step Award

Employees have a choice to work on a management or laboratory career ladder, no employee is forced to take a management role if the don’t wish it.

3M Mission Statement

"3M is committed to actively contributing to sustainable development through environmental protection, social responsibility and economic progress."

Vision, Objectives & Strategies

3M Brand Identity Vision Differentiation from competitors Brand essence

3M Brand Identity Objectives Consistently express the 3M brand — promise,

personality and values.

Manage the value of the 3M brand and strategic brands to instill familiarity, reinforce brand/product experience and protect our equity.

Provide tools to facilitate consistent delivery of the brand promise with every point of contact.

3M Brand Identity Strategies Increase familiarity of the 3M brand identity

through consistent application of our identity standards worldwide.

Build equity in identity assets that are globally recognized.

Build market leadership in every market we serve.

3M Innovation Strategy and Leadership

Setting stretch targets – such as ‘x% of sales from products introduced during the past y years’ – provides a clear and consistent message and a focus for the whole organization.

Allocating resources as ‘slack’ – space and time in which staff can explore and play with ideas, build on chance events or combinations, etc.

Encouragement of ‘bootlegging’ employees working on innovation projects in their own time and often accessing resources in a non-formal way – the ‘benevolent blind eye’ effect.

Provision of staged resource support for innovators who want to take an idea forward – effectively different levels of internal venture capital for which people can bid (against increasingly high hurdles) – this encourages ‘intrapreneurship’ (internal entrepreneurial behavior) rather than people feeling they have to leave the firm to take their good ideas forward.

THANK YOU…