Ankur Dixit Arpit Srivastava Saurabh Hitesh Kumar Brijesh Yaduvanshi Mukul 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 (Yearend 2010)

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.

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.

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'

SWOT ANALYSIS
Location of Factor Favorable TYPE OF FACTOR Unfavorable

Internal

Strengths 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

External

Opportunities Recent acquisitions Global expansion Rising healthcare spending in the US

Threats Rising energy prices Currency risks Environment regulations

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 employees 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 dont 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