3M Corporation

Great Essays
Introduction to 3M Corporation

3M Corporation is an industrial conglomerate that develops products which serve propose in a variety of industries. The original function of 3m was mining. Founded in 1902, 3M was originally known as the Minnesota Mining and Manufacturing Co. This firm’s main function was to harvest the mineral corundum, extremely hard aluminum oxide. This mineral is found in a crystalline form. Some precious stones such as rubies and sapphires are some types of corundum. 3M mined out of a mine known as Crystal Bay. Although this was the intention function of the company they have since moved into the huge industry leader it is today. 3M focus has since shifted into mining other materials and developing products. Since its
…show more content…
These products are used in various industries such as safety, Transportation, Manufacturing, health Care, and electronics amounts others. 3M boast a portfolio of brands. Some of their featured brands are but not limited to ACE, which are bandages, braces, wraps, etc. and Scotch Tape, which is used for various applications.
Goals and Mission of 3M
The Mission at 3M has evolved over the years. From the early beginnings as a mining company to an industrial conglomerate who’s products are present in various industries. From sandpaper to post it notes all the way to real-time facial recognition technology, 3M has an extensive catalog of products. This level of wide-ranging products requires the people at 3M to continually innovate and develop products.
When reviewing the evolution of 3M there are fundamental, or core values, which the company has adopted to further the mission of 3M and realize the goals set forth. At 3M the leadership implemented core values to which it holds every member of the organization accountable for the compliance of. Many organizations have similar values like those of social responsibility, integrity, and superior service. In an organization like 3M with so many moving parts, and recognition to set the example in the global
…show more content…
Philanthropy became increasingly import at 3M as well. Other development which occurred which sprung from the earlier goals of the firm was the investment into the health care industry. The company continued to innovate and expand its position globally. As the firm continued to expand into the global markets the goals had to shift to serve other purposes beyond the growth of revenue. The company was a huge producer of was and pollution, thus, 3M became involved with lowering the amount of pollution its business products. Although it can be safe to assume that some political and social pressures may have also influenced the company to take such measures it is important for one to be ethical and be held accountable for its practices and the consequences resulting due to those practices.
This focus, as well as the other building blocks of 3M, has only strengthened and have become the cornerstone of the company’s overall vision and mission apart from continuous innovation and incremental improvement to its already vast empire. Once the 1990’s came about the company began to add a new focus to its mission and core value structure. This also stemmed from some of the firms earlier beliefs and practices. The company began to campaign heavily into building customer loyalty. 3m placed great emphasis on value, service, and superior

Related Documents

  • Improved Essays

    Manufacturing Company

    • 1450 Words
    • 6 Pages

    Introduction Manufacturing companies, like Hampshire Company, rely on the costing data provided by various costing methods to determine financial successes and downfalls. “By tracking and categorizing this information according to a rigorous accounting system, corporate management can determine with a high degree of accuracy the cost per unit of production and other key performance indicators” (Kucera 2018). Therefore, Hampshire Company has requested that I calculate how traditional and activity-based costing impact the company’s operating income. In addition, Hampshire Company has requested that I research and alternative costing method and decide whether or not it should be implemented (Kucera 2018).…

    • 1450 Words
    • 6 Pages
    Improved Essays
  • Improved Essays

    Rayovac Swot Analysis

    • 894 Words
    • 4 Pages

    Rayovac as a company are the third largest battery manufacturer in the world. They sell various types and styles of batteries. The batteries are sold throughout the world and they have made great strides in terms of gaining more of the market share. They have positioned themselves as the ''value brand''. In terms of Bob Falconi he has 27 years experience in the battery industry.…

    • 894 Words
    • 4 Pages
    Improved Essays
  • Superior Essays

    Target Corporation Essay

    • 2072 Words
    • 8 Pages

    The company I choose to summarize current SCM practices and to make specific technology recommendations on how to improve them as a company is Target. Target is one of the biggest U.S. retailing store in the world along with the big juggernaut Wal-Mart. The company was created in 1903 by John Dayton and from then to now the goal of Target was and still is to fulfill the needs and fuel the potential of their guests. To be more specific, to make Target the people 's preferred shopping destination in all channels by delivering outstanding value, continuous innovation, and exceptional experiences—consistently fulfilling our Expect More. Pay Less.…

    • 2072 Words
    • 8 Pages
    Superior Essays
  • Improved Essays

    Marketing research is the systematic and objective search for, and analysis of, information relevant to the identification and solution of any problem or situation facing the company. It is the process of gathering information to learn about something that is not completely known. Marketing research is important because does include market research but it also explores new product research and distribution methods. Marketing research helps to make good sound decisions.…

    • 620 Words
    • 3 Pages
    Improved Essays
  • Decent Essays

    For nearly 90 years, our technological innovations have provided value for our customers by helping them increase production and recovery from nonrenewable resources—efficiently and with lower environmental impact. We strive to be a unifying voice for social and environmental stewardship in the communities where we—and our customers—live and work. Here, too, Schlumberger has a long and positive track record. “Today Schlumberger is one of the most culturally diverse companies in the world, with men and women employed in over 85 countries, representing more than 140 nationalities. We encourage in each of you a deep sense of corporate responsibility and empower you to continue to help improve the living conditions of the thousands of communities…

    • 206 Words
    • 1 Pages
    Decent Essays
  • Decent Essays

    • Impress customers through conveyance magnificence. • Attract, prepare and keep skilled workers through dynamic employee participation. • Deliver solutions and services in view of cutting edge apparatuses, advances and strategies. • Continuously enhance processes and accomplish operational incredibleness.…

    • 88 Words
    • 1 Pages
    Decent Essays
  • Decent Essays

    Change is inevitable and little can be done to stop a transformation when newfound technologies and competition emerge to alter the fundamental core of a business. A simple, summarized explanation of how organizational changes for AALP became detrimental and lead to the demise of the company. Environmental changes, the innovation of technology, ultimately lead AALP to change their strategic practices and modify their organizational structure. Over time, these changes proved to alter the mental scape of AALLP’s employees from “think straight, talk straight” to a murky value system that altered the integrity of their business standards.…

    • 96 Words
    • 1 Pages
    Decent Essays
  • Improved Essays

    Strategic advantage Over the last decade, Honeywell has been able to increase annual sales exponentially and amplify its acquisitions. By diving the organization into three Strategic Business Groups (SBG), Aerospace, Automation and Control Solutions, and Performance Materials and Technologies, they have been able to better execute their strategy and focus on the global market (Honeywell.com, 2016). In an effort to continue the growth globally in the organization and to maintain a strong competitive advantage, the CEO has established an aggressive strategy, to align the acquisitions that are entered into with the current business model and those areas of market that the organization is presently operating. Therefore, the business has been able…

    • 769 Words
    • 4 Pages
    Improved Essays
  • Decent Essays

    Marketing strategy: We choose to market our products in various components such as social media, newspaper, magazines, and other techniques. We desired our brand named products to be one of the top talked about companies. We focused on the prices, advertising and brands to be the most competitive product in the market. Our determining factor was to strive to attract as many customers that would make our company be the top manufacturing company in the marketplace simulation. Our search for brand profitability was to obtain responsible priced products that were affordable, dependable, and desirable.…

    • 222 Words
    • 1 Pages
    Decent Essays
  • Improved Essays

    “A business model reflects management’s hypothesis about what customers want, how hey want it and what they will pay, and how an enterprise can organize to best meet customers needs, and get paid well for doing so.” Do you agree with this statement? Why? Be specific. Feel free to use examples.…

    • 1148 Words
    • 5 Pages
    Improved Essays
  • Decent Essays

    Three customer groups ride this wave of technology, Performance, High End and Size. Behind the wave are the two low technology segments, Traditional and Low End. There is a tendency to focus on the Perceptual Map. Keep in mind that the Perceptual Map is more important as a Rough Cut consideration than a Fine Cut distinction. It takes time and maintenance to build a solid product offering.…

    • 180 Words
    • 1 Pages
    Decent Essays
  • Improved Essays

    Materialism and Capitalism In our society, the majority of people strive to maximise their material welfare. The objective applies to individuals and companies in the same way. On the stock exchange listed companies are under pressure to increase their shareholder value to ensure their success in a globalised and highly competitive marketplace. According to shareholder wealth maximisation theory a company is conditioned to increase the wealth of their shareholders to maximise the society 's welfare.…

    • 1151 Words
    • 5 Pages
    Improved Essays
  • Improved Essays

    Mira Flags Essay

    • 639 Words
    • 3 Pages

    We are committed to our employees, customers, shareholders, and the economy and our improvements will reflect that. Part 3: New Innovation A manager with Mira Flags recently approached me with the new ordering concept of three-dimensional (3D) printing. 3D printing is a process in which many layers of a gelatinous substance are applied one over the next to create a three-dimensional…

    • 639 Words
    • 3 Pages
    Improved Essays
  • Improved Essays

    Jack Welch Case Study

    • 1814 Words
    • 8 Pages

    Jack Welch, is United States one of the most successful CEO, running the most valuable firm in the US, General Electric. His main philosophies are: • Keep Business Simple and don’t over complicate it • Be practical and face reality • Don’t fear change • Fight Bureaucracy • Use your worker's brain • Identify people with best ideas and put them into practice And always keep learning from your associates, competitors, and customers. Learning should be consistent and then only you will be able to successfully position your company to take advantage of upcoming opportunities that will arise in future.…

    • 1814 Words
    • 8 Pages
    Improved Essays
  • Improved Essays

    Organizational Culture, analysis of the Lincoln Electric Company Case In Brazilian law, we say that all people have personality, and this is a condition to all rights that come along. It is for this reason that plants and animals do not have rights in the Brazilian legal system, although they end up being protected for the sake of the environment. Brought by the notion of personality, comes the personal characteristics. In Brazil we say that individuals are physical people, while companies and other organizations are legal people.…

    • 821 Words
    • 4 Pages
    Improved Essays