Assignment Task
1 Early Struggles Plant the Seeds of Innovation 1
3M opened for business as Minnesota Mining and Manufacturing in the little town of Two Harbors, hoping to capitalize on a mineral used for grinding wheels. Nothing is easy for the optimistic founders, but their persistence pays off and they begin manufacturing sandpaper.
2 3M Innovation—A ‘Tolerance for Tinkerers’ 13
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Get Help Now!3M welcomes innovative people who are creative, committed and often eccentric. The “architects” of innovation, Richard Carlton, Dick Drew and Francis Okie, create a climate that turns 3M into a new product powerhouse. Researchers explain valuable lab lessons and provide a glimpse into the fabled, highly productive Pro-Fab Lab.
3 3M Innovation—How It Flourished 29
Sustaining innovation in a growing company is a massive challenge. 3M walks the innovation “high wire” and invests mightily in Research and Development. 3M people share ideas and solve customer problems across oceans and continents. The highest potential product ideas attract company champions and are rewarded with additional capital.
4 Ingenuity Leads to Breakthroughs 49
The most important innovations respond to unarticulated needs. 3M calls work in this arena “the fuzzy front-end,” and it can lead to significant breakthroughs. That’s what happens in nonwovens, fluorochemicals, optical lighting film and microreplication—technologies that spawn a wide array of products and new “technology platforms” for 3M.
5 No One Succeeds Alone 67
While 3M people must take personal initiative to build rewarding careers, they are rarely “lone rangers.” 3M people naturally gravitate toward being champions, sponsors and mentors even before these were popular business buzzwords.
6 No Risk, No Reward—‘Patient Money’ 77
For most of the century, 3M demonstrates its bias toward growth through diversification. Follow three business ventures where long-term investments, known as “patient money,” pay off in multiples. These include: reflective technology; 3M Health Care, which today has more than products; and 3M Pharmaceuticals, developer of innovative drugs.
7 The Power of Patents 95
Intellectual property is imbedded in 3M’s “DNA.” Protecting the company’s unique technology, products and processes has been a priority. Because innovation is the
growth engine at 3M, intellectual property has more currency than cold cash. 3M defends its patents—at home and abroad.
8 Look ‘Behind the Smokestacks’ 109
When William McKnight becomes the company’s sales manager, he develops an enduring philosophy—the best way to find business is to “look behind the smokestacks.” Move beyond the purchasing office and find out what your real customers need
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