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3m

Essay specific features

 

Issue:

Business

 

Written by:

Benjamin S

 

Date added:

November 15, 2013

 

Level:

University

 

Grade:

A

 

No of pages / words:

4 / 997

 

Was viewed:

6472 times

 

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Essay content:

The entire team did not face any risk if the product failed. ? The product developers used to visit the factories and workplaces to talk to the workers to get ideas for products. ? The developers were not given the share of product royalties as the company believed that innovation was driven by sheer love of it...
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But the developers were encouraged by various means like rewards for innovation and grants for innovative projects. ? There was also a dual ladder approach that provided the senior technical persons with great career opportunities to advance without switching over to management. ? In the 1990s as the innovation was stagnating, most of the innovations were extension of existing product lines, management came up with a protocol that 30% of 3M's revenue should come from innovative products that did not exist four years ago...
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