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ODC Section C Group 1

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    The 3M values

    0 Satisfy customers with superior quality, value and services,provide investors an attractive return through sustained qualityand growth, respect the social and physical environment, and bea company that employees are proud to be part of

    0 Chart the course & set the vision

    0 Raise the bar

    0 Energize others

    0 Resourcefully innovate

    0 The values go back a 100 years and hold true in themodern business world as well

    0 The company lives by the 3M values

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    "Innovation is the key to our growth as

    it delights our customers and it's the

    basis for long lasting customer loyalty.

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    Innovation at 3M

    0 The 3M values combined with business acumen, functionalexpertise and corporate knowledge make 3M an innovativeorganization even in the present days context

    0 Research tied to the customer - Employees spend a lot oftime with customers to understand what their needs are Post-It Photo paper

    0 Fragmentation of effort - Diversification process dividinginto new divisions and groups helped 3M with their

    greatest strength0 Targets set upon sales from products launched in past 4

    years

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    Innovation at 3M (contd.)

    0 Its practices make it Innovative

    0 The pillars of 3M's innovation platform

    0 Technology Enablers0 Strengthening People Innovation

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    The Best Practices

    0 Six Sigma

    0 3M Acceleration

    0 eProductivity0 Sourcing Effectiveness

    0 Indirect Cost Control

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    The pillars of 3M's innovation

    platform0 Shared World-class Technology

    0 Shared Customers, Channels and Brands

    0 Shared Manufacturing0 Shared Global Infrastructure, and

    0 Shared Cultural Innovation Values, Practices,

    Processes and Toolkits

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    Technology Enablers

    0 Streaming videos to collect learnings and make them

    available for global access

    0

    Comprehensive lotus notes databases forcollaboration and knowledge access

    0 Idea-hopper: Captures and helps filter ideas to move

    from concept to funding phases of implementation,

    etc.

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    Strengthening People

    Innovation0 Talent management techniques to support innovation:

    0 Staff rotational assignments to develop new skills tostrengthen innovation talent capabilities

    0 Reward and recognition programs for people to shareideas and receive peer recognition

    0 Connecting its scientists with its customers

    0 Training talent on problem solving approaches such as6Sigma

    0 Know how in 42 diverse technologies

    0 Formal as well as Informal networking amongresearchers

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    Is 3M still an innovative

    organization?

    NO!

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    0 3M expansion and growth led to lack of communication

    which is essential for innovation

    0 Economic slow down and foreign competition , especially

    competition from Japan, slowed the domestic growth

    0 Diminishing new product development quality with

    expansion led to slow rate in innovation

    0 Restructuring, redefining policies and practices of 3M ledits original core competency of innovation to diminish

    0 Choice of project and bringing new product to market in a

    fast manner led to less freedom in innovation

    0 3M innovation and improvements lied in slow movingobjects, it was not geared for the hot seller business

    commodity of today so there was a trade off.

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    THANK YOU!

    Group 1, Section C

    PGPM 2012-14

    MDI, Gurgaon

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