Analysis of the 3m Company
| 3M Company | By Peggy Nenninger |
Introduction: 3M Company
My interest in 3M Company comes from the fact that my brother used to work for them. Also the diversity and globalization of 3M intrigued me.
3M Company was founded in 1902 in Two Harbors, Minnesota as the Minnesota Mining & Manufacturing Co. (MSN Money, 2009) It is now known simply as “3M”.
3M is a primary manufacturer of products for many of the markets it serves. 3M operates in six operating business segments: industrial and transportation; health care; safety, security and protection services; consumer and office; display and graphics, and electro and communications. The Company’s products are sold through numerous distribution channels, including directly to users and through numerous wholesalers, retailers, jobbers, distributors and dealers in a variety of trades in many countries worldwide. In February 2009, the Company announced the formation of its Renewable Energy Division within 3M 's Industrial and Transportation Business. (MSN Money, 2009)
3M is a diversified technology company serving customers and communities with innovative products and services. Each of their six businesses has earned leading global market positions. A recognized leader in research and development, 3M produces thousands of innovative products for dozens of diverse markets. 3M’s core strength is applying its more than 40 distinct technology platforms – often in combination – to a wide array of customer needs. With $24 billion in sales, 3M employs 75,000 people worldwide and has operations in more than 60 countries. (Our Company, 2009). Included are countries in The Americas, Europe, The Middle East & Africa, and Asia & the Pacific.
In this paper I will discuss the international products and strategies around Marketing, Sales, Operations R&D, Human Resources, Manufacturing/Production, and Distribution.
Strategies for Functional Areas:
Marketing
Most 3M products involve expertise in
Introduction: 3M Company
My interest in 3M Company comes from the fact that my brother used to work for them. Also the diversity and globalization of 3M intrigued me.
3M Company was founded in 1902 in Two Harbors, Minnesota as the Minnesota Mining & Manufacturing Co. (MSN Money, 2009) It is now known simply as “3M”.
3M is a primary manufacturer of products for many of the markets it serves. 3M operates in six operating business segments: industrial and transportation; health care; safety, security and protection services; consumer and office; display and graphics, and electro and communications. The Company’s products are sold through numerous distribution channels, including directly to users and through numerous wholesalers, retailers, jobbers, distributors and dealers in a variety of trades in many countries worldwide. In February 2009, the Company announced the formation of its Renewable Energy Division within 3M 's Industrial and Transportation Business. (MSN Money, 2009)
3M is a diversified technology company serving customers and communities with innovative products and services. Each of their six businesses has earned leading global market positions. A recognized leader in research and development, 3M produces thousands of innovative products for dozens of diverse markets. 3M’s core strength is applying its more than 40 distinct technology platforms – often in combination – to a wide array of customer needs. With $24 billion in sales, 3M employs 75,000 people worldwide and has operations in more than 60 countries. (Our Company, 2009). Included are countries in The Americas, Europe, The Middle East & Africa, and Asia & the Pacific.
In this paper I will discuss the international products and strategies around Marketing, Sales, Operations R&D, Human Resources, Manufacturing/Production, and Distribution.
Strategies for Functional Areas:
Marketing
Most 3M products involve expertise in
Cited: 3M Facts. (2008). Retrieved July 5, 2009, from solutions.3m.com: http://solutions.3m.com/wps/portal/3M/en_US/our/company/information/financial-facts/ 3M posts Q1 earnings. (Earnings: Facts and Figures From Key Industry Players)(Financial report)(Brief article. (2009, June). Nonwovens Industry , p. 56. 3M Press Releases. (2008, February 28). Retrieved July 5, 2009, from solutions.3m.com: http://solutions.3m.com/wps/portal/3M/en_US/3MGraphicsMarketCenter/Home/GMC/PressReleases/?PC_7_RJH9U5230GE3E02LECFTDQ0LD5_assetId=1180596620194 Buckley, G. W., & Campbell, P. D. (2008). 2008 Annual Report. 3M Company. Johnson, A. (1986, July). 3M OORGANIZED TO INNOVATE. Management Review, 75(7), 38. Retrieved July 5, 2009, from Business Source Elite database: http://0-web.ebscohost.com.library.acaweb.org/login.aspx?direct=true&dbAN=6023979&site=ehost-live Lilien, G. L., Morrison, P. D., Searls, K., Sonnack, M., & Von Hippel, E. (2002, August). Performance Assessment of the Lead User Idea-Generation Process for New Product Development. Management Science, 48(8), 1042-1059. Retrieved July 5, 2009, from Business Source Elite database. http://0-search.ebscohost.com.library.acaweb.org/login.aspx?direct=true&db=bsh&AN=7389955&site=ehost-live MSN Money. (2009). Retrieved June 21, 2009, from moneycentral.msn.com: http://moneycentral.msn.com/companyreport?Symbol=US:MMM Our Company. (2009). Retrieved June 21, 2009, from solutions.3m.com: http://solutions.3m.com/wps/portal/3M/en_WW/About3/3M/ Shor, R. (2009). Manufacturing & Technology News. Retrieved June 30, 2009, from Manufacturing & Technology News.com: http://www.manufacturingnews.com/news/editorials/shor.html thefreelibrary.com. (2005, November 1). Retrieved July 5, 2009, from The Free Library: http://www.thefreelibrary.com/3M Selects HighJump 's Manufacturing Advantage Software to Standardize...-a0138192444