3M: The culture of the Company and its innovation
- Industry analysis
- The intensity of competitive rivalry
- The bargaining power of the suppliers
- The bargaining power of the customers
- The threat of the entry of new competitors
- The threat of substitute products or services
- SWOT analysis
- The internal analysis
- The external analysis
- The financial analysis
- The strategies
- Conclusion: Kuchen's opportunities and objectives
3M is an American company which was created in 1902 by five businessmen. It has activities in various fields such as: industry and transport, health, signaling, communication and optical systems, office equipment, security and protection, electricity, electronics and telecommunications.
This company is the home of famous brands such as 'Scotch tape', 'Scotch-brite', 'Scotchgard', 'Post-it', 'Nexcare' and 'Filtrete'. This company now has 130 factories world-wide and subsidiary companies in 60 countries.
In France, the 3M group includes six different companies: 3M France, 3M Health SAS, 3M Pouyet Telecommunications, 3M CUNO Filtration, EMFI and Faab Industries/Fabricauto. The company generated a turnover of 25.3 billion dollars in 2008.
A great part of this success was due to constant innovation. Innovation forms the cornerstone of the culture of this company.
Can it be said that the culture of 3M has had an impact on the operation of the business? We will see how first appeared corporate culture through the historical society, then we will expose the values that constitute the corporate culture. Finally, we will see how culture influences the lives of 3M Company.
The culture of a company is rooted in its history. Therefore it seems essential to explain how 3M has managed to grow so dramatically worldwide. In 1902, five businessmen from Two Harbors, established a Minnesota based company, Minnesota Mining & Manufacturing (3M).
They wanted a mine which they said contained a mineral body ideal for making sandpaper and grinding wheels. But this body mineral was of poor quality, and 3M moved to Duluth in 1905 to concentrate on making paper.
After some difficult years in 1910, 3M Left Duluth to St Paul in Minnesota. Technical innovations and business began to bear fruit, and in 1916, 3M paid its first dividend of 6% per share. From the 1920s, their innovations succeeded.
Tags: history of 3M Company, innovation of 3M, company culture ? 3M