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3M's New Information

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Issue:

History

 

Written by:

Lauren H

 

Date added:

December 3, 2015

 

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Grade:

A

 

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5 / 1375

 

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(IBM Case Study on 3M) 3M, a company known for its innovation, constantly encourages employees to create new products. Thirty percent of sales must come, each year, from products less than 4 years old and scientists must spend 15% of their time trying to develop new ideas of their own. In 2001, 3M spent over $1 billion dollars alone on research and development (3M 2001 annual report)...
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In 2001, 3M spent over $1 billion dollars alone on research and development (3M 2001 annual report). 3M's corporate culture revolves around creativity, initiative, innovation, and entrepreneurship. This unique and innovative culture is largely responsible for 3M's success. (MIS Quarterly) In accordance with having a strong need to stimulate innovation and creativity, 3M has a very decentralized corporate structure...
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