3M Company

Vance D. Couffman, the lead director of 3M said "Inge is a proven leader with a terrific blend of strategic, business and analytical skills, and an excellent record of delivering both sales growth and operational efficiency in a wide range of global businesses"

Leadership Strategies

• Constantly advancing innovation in research and development as the companys prime driver for growth
• Prospector Theory - New market opportunities and risk taking
• Leadership Development Strategies

Achievements

• Increased sales outside the U.S. by almost $20 billion
• Promoted around 20 times while working at 3M

Employee Motivation

• Very strong overall emphasis on employee motivation
• Annual Energy Recognition Program
• Enacted to boost employee participation by enacting more than 1,900 employee-inspired projects
• resulted in over $100 million in energy savings and a 22% increase in energy efficency

Threats

Bad Economic Conditions

Competition

Opportunities

Aquisitions

Selling Brands

Product Innovation and R&D

Weaknesses

Market Saturation

Highly Cyclical Business

Current Debt

Questions?

Strengths

Diversified Product List

Research and Design Capibilities

Global Presence

SWOT Analysis

SWOT Analysis

A look into the internal Stregnths and Weaknesses, and external Oppertunities and Threats

Financial Control

Quality Control

Strategic Control

Controlling

Goals

Continously Increasing Sustainability

Being Profitable

Quality Control

Inge Thulin

Leading

• CEO and President of 3M since Febuary 24, 2012
• Degree in Hospitality Managment at Gothenburg University in Sweden
• Originally hired by 3M Sweden in 1979 as a sales representative
• 59 years of age and has a total calculated compensation of $5,360,270.
• Embedded sustainability, growth, and innovation into 3M allowing them to lauch an average of 20 products per week

Leading

Decentralization

Flat Organization

Increase Innovation

Technology

10,000 R&D Employees

15% to 20% Employees Work In Corporate Research

Multidivisional Structure

Traditional Consumer

Industrial

Health Care

Safety and Graphics

Electronics and Energy

Organizing

“Emphasize 3M’s new focus on ‘emerging mega trends’ such as health care, the booming oil and gas industries and products that foster sustainable, clean technology, clean water and green products”.

- CEO, Inge Thulin

Business-Level Strategies

Differentiation

Always provide best customer service and attempt to understand customer needs

Prospector

Innovation: Launches avg of 20 new products a week

Porter's Generic Strategies:

Innovative and growth oriented, encourages risk taking

2011: $1.57 billion on research and development (37% of net income)

Miles and Snow Typology:

Approach to Innovation

7 Pillars of Innovation

1. Committed from chief executive on down

2. Corporate culture must be actively maintained

3. Maintain broad base of technology

4. Communication

5. Set expectations and give rewards

6. Quantify efforts

7. Research must be tied to the customer

Globalization

• Operations in 65 countries

• Products sold in ~200 countries

• Non-US sales were 66% of total sales in 2011

• Business Conduct Policies: Operating in a Global Marketplace

Corporate Responsiblity

One of the first companies to address environmental issues in 1975

Vision: "Everything we do is underpinned by our corporate values and our day-to-day actions are guided by our Business Conduct Policies"

Pollution Prevention Pays

Decreased toxic releases by 99% and greenhouse gas emissions by 72%

Only company that has won the EPA Energy Star Award every year the honor has been presented

Planning

Planning

Innovation and Sustainability

3M Company

Values and Objectives:

• Act with honesty and integrity
• Satisfy customers with innovative technology and superior quality, value, and service
• Provide investors an attractive return through sustainable global growth
• Respect the physical environment around the world

An evaluation of 3M's management functions.

"3M is a global innovation company that never stops inventing"