Minnesota Mining & Manufacturing Company

Profile

Founded
in 1902

$ 27B Company
Operations
in more than
65 Countries
Launched over
55000 products

80,000 employees globally

Almost everyone knows 3M or its products. The 109-years old company is a

diversified technology giant with major brands like Post-It Notes and Scotch Tape
on its roster as well as innovative products like multi-layer optical films that go into
LCDs.One of 30 companies that make up the Dow Jones Industrial Average.

In 2002,3M celebrated its first Century of Innovation",

recognizing the companys remarkable success,
which is rooted in its ability to create new-to-the world
products.

3Ms formula for growth

Recruiting the right people
Right Working environment
To let them do their things

TIMELINE

1902Founded in
Two
Harbors,
MN.

1916 - 3M
paid first
dividend of 6
cents a
share.

Dry-silver microfilm
introduced along
with photographic
products

The world's 1st

waterproof
sandpaper

The
Adhesives
Division was

developed

established.

Pharmaceuticals,
radiology and
energy control
expand.

Introduces
Post-it
Notes.

Invested
5% of its
sales in
R&D

Sales
reach $15
billion
mark

Introduces ThermoFax copying

process,
Scotchgard,
videotape, ScotchBrite Cleaning Pads

2004 - Sales top

$20 billion. optical
films for LCD
televisions enter
the market.

"To the outside world, what we do looks a little like magic. We create entirely new product categories and
breathe new life into markets crying for reinvention. Its been called 'the 3M effect.' Harnessing innovation for
your benefit- thats the practical magic behind 3Ms success."

- George W. Buckley, Chairman, President and CEO

Organized into Six Business segments:Consumer and office

Business

Electro and
Communications
Business

Industrial and
Transportation
Business

Display and Graphics Business

Health Care Business

Safety, Security and Protection

Services Business

IN-NO-VA-TION : A new idea, method or device

Fostering the Culture of innovation

William L. McKnight
(1907-1966)
Encouraged its
employees to take the
initiative and come with
new ideas.
Carlton,Okie & Drew
(early 1920s)
Set the tone of
innovation at 3M.The
companys famous 15 %
rule resulted.

KEY FACTORS:
RECRUITING AND RETAINING TALENT
CREATING A CHALLENGING ENVIRONMENT
KNOWLEDGE SHARING

James McNerney Jr.

(2000)
Preserved the culture of
innovation.
Fostered leadership
qualities among
employees.

REWARDING INNOVATION

Mechanism Stimulating innovation

Initiatives launched by Mcnerney

Global Sourcing
Indirect Cost Reduction

E-productivity
3M Acceleration

Six Sigma Initiative

Pillars of innovation platform

Shared world-class Technology.
Shared customers, channels and Brands
Shared Manufacturing
Shared Global Infrastructure.
Shared Cultural Innovation
Values,Practices,Processes and
Toolkits.

 Act without compromising honesty and integrity.

Satisfy customers with innovative technology and
superior quality, value and service.
Provide investors an attractive return through
sustainable, global growth.
Respect social and physical environment around the world.
Value and develop the employees' diverse talents,
initiative and leadership.
Earn the admiration of all those associated
with 3M worldwide.

Conclusion

Innovation is a core competency

at 3M and is at the heart of the
companys culture.

ARUN
GANESH
GULSHAN
PRANALI
MAYUR
RUPESH
VEENA
VIKAS