The 3M Success Story

From smooth to bioelectronic ears, 3M has come a long way. 3M is a prime example of how employees potful e preciseplacerule a dying line of mathematical products into a multi one million million-dollar beau monde. 3M encourages employees to create clean products and explore newly ideas. This management tactic allows 3M to produce over 60,000 new products each course, winnerfully holding up with our constantly changing, fast-paced economy. In the last 99 years it has been in business 3M, has do a salubrious known as a world-wide business.Employing more than 90,000 employees, it made $19 billion in sales in the year 2000. 52% of which were made outside the USA. It has 17 technology centers worldwide, with manufacturing sites in thirty-nine countries. 3M makes the fuss of globalization seem resembling a piece of chocolate cake. 3Ms success is based on its 90,000 intrapreneurs. It recognized that employees were non merely simple workers, but dexterous entrepreneurs who needed only to be advance and appreciated.A business can nurture its entrepreneurial spirit alive by, initiative and foremost, encouraging its employees to be innovative. It should besides abide incentives like money, raises, vacations, promotions, etc. Businesses need to render appreciation and make its employees feel like they are valuable assets to the guild. Employees are a societys gold mine. They are a companys most important stakeholders. They can make or break a business. A business needs only to please its employees and in turn, these gold minds will gleam and become great entrepreneurs.Though entrepreneurship is valuable, can a too various production start out a stumbling block for a company? If a business does non become the swell to support multiple products, it is non encourage able. Yet it should not contrive a total halt on new ideas and products, but create close related products instead to begin with. 3M did not jump from sandpaper manufacturing to cr eating programmable disks. They started off with regular sandpaper then created environmentally upright waterproof sandpaper.However, if a company has the capital to produce new things and support new ideas, it is highly advisable to be compound in diverse industries. A company needs to keep up with the times. crossway and service demands change with time. If a company only knows one business and is not widely diverse, it has higher chances of failure. Will diverse industries prevent a corporation from having expertness in all the areas? How could it not accept experts? The employees are the inventorsAfter creating new ideas and products a company should always follow up on its products from production through grocery storeing. This is very important in order to retrieve any signs of defects and safety issues quickly. This will overly keep the company aware of how their product is doing out on the market and what they can do to improve their products. It will also give the c ompany an insight into what the market wants. Now that we have a comprehend on the importance of intrapreneuring, could 3M survive without it? I dont know. How often do you buy sandpaper?