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3M successfully encourages innovation through policies that balance strict management with employee freedom, ensuring cost cutting does not hamper new ideas. Communication across different elements is crucial, as market analyses and technology alone do not guarantee success - market demand must be created. Key factors in 3M's structure include maintaining a culture like a small company despite its size, focusing on core technologies with variations, supporting innovation across business areas financially through grants, and prioritizing technology development over short-term market size.

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Tariq Khan
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10 views2 pages

Untitled 1

3M successfully encourages innovation through policies that balance strict management with employee freedom, ensuring cost cutting does not hamper new ideas. Communication across different elements is crucial, as market analyses and technology alone do not guarantee success - market demand must be created. Key factors in 3M's structure include maintaining a culture like a small company despite its size, focusing on core technologies with variations, supporting innovation across business areas financially through grants, and prioritizing technology development over short-term market size.

Uploaded by

Tariq Khan
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPT, PDF, TXT or read online on Scribd
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Lessons from 3M

Innovation------>encouraged----------->policies. Balance the desire of strict management with need to give employees freedom Ensure cost cutting does not affect innovations Communication amongst diffrent ELEMENTS- Crucial Market analyses are NOT always important Market pull must be created even if technology push is present R&D= innovation, manufacturing and distribution =market success Technology on shelf is worth nothing!

to create new things

Factors in 3M's corporate structure permitting Innovation. 3M- A big company which acts small Core technologies + variations = innovation One quarter rule Supporting innovation irrespective of its buisness protfolio and regardless its Financial support to innovators- eg genesis grants Technology council

market size

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