Changing technology The speed of technology change not only impacts consumers and individuals, but it also impacts the manufacturing and supply process. This provides the natural strategic advantage of more successful new products, more differentiated products, and greater access to new markets.
This threat may have the impact of 3M being constantly challenged for market share by niche or specialist players.
The end result is that they cannot focus on one particular area and would constantly have their resources stretched 3m the second century these requirements.
As a consequence, they would have less stability in their ongoing activities and planning. While this in itself is a threat, it also represents a weakness in the way that the organization has been structured.
Possible acquisitions As a diversified organization, potentially they can enter a number of new industries via an acquisition of a major firm. However, significant fluctuations in currency can affect the level of profitability from operations in certain countries from time to time.
Currency fluctuations This is probably a minor threat to 3M and they would probably have appropriate financial controls in place.
This Helix Commerce believes is an operating practice which differentiates 3M from the pack and in our collaboration world - enables butterfly wings to beat beautifully without constraints - creating a potential to change the winds forever in the services innovation war that is rapidly unfolding.
As a conglomerate, 3M operates in the fields of electronics, security, transport, office, healthcare, manufacturing, government and others.
Global expertise In addition to operating across multiple countries above3M have developed substantial expertise in entering new countries and markets, often setting up local manufacturing operations, sourcing local suppliers and accessing the relevant marketing distribution channels. Their global operations reach more than 65 countries and they utilize a broad range of distribution channels including wholesalers, retailers and online purchases.
Innovation 3M has a strong reputation in product innovation and heavily invests in the area of research and development.
Retailer relationships Across the globe, they have established many strong 3m the second century channels and created strong channel relationships. It is also a weakness because it forces the organization to compete in multiple industries and markets and against multiple competitive sets.
For instance, they are heavily involved in health care, security, and electronics — all of which are in growth phase in many countries. This strength provides them with stability, a lower cost structure, and it allows them to more successfully launch new products, continue to build their brands, and ensure good in-store placement and uptake of point-of-sale material.
Exposed to all environmental factors Being across multiple markets and industries, 3M needs to proactively monitor all environmental factors and regularly adapt their strategy to suit the changing conditions. Overall they have high brand awareness and strong brand equity in the markets in which they operate.
They appreciate the fragility of innovation in its weakest creative design moments, but also reinforces shareholder value which needs to be top of mind to ensure accountability in the culture.
This creative jazz time is not tracked; it is a freedom role to reflect, think, and learn to encourage ideation in its earliest stages of creativity - unencumbered by reporting practices. Further market development Although they are in over 65 countries already, there still would be other countries that they could look to enter, particularly as emerging economies obtain more purchasing power and become more financially viable in their own right.View Homework Help - Case 02 from FINANCE at BRAC University.: GROUP 3 CRACKED 3M:THE SECOND CENTURY Introduction Financial (Fahim Adnan) Value Chain (Ragib Islam) External Analysis SWOT.
3M Case Study (case study solution available) - Free download as Word Doc .doc /.docx), PDF File .pdf), Text File .txt) or read online for free/5(6). Jun 20, · Innovation Best Practices - 3M Case Study Introduction Inthe company celebrated a century of innovation since its founding. Innovation a Foundational Core Value of 3M Second, I started reading off and on about 3M Corporation 3 years ago.
I was impressed by the company then, and a couple of days ago I sat down and. Essays - largest database of quality sample essays and research papers on 3M The Second Century. LibriVox recording of The Mummy! A Tale of the Twenty-Second Century by Jane C. Loudon. Read in English by Amy Gramour; Arnie Horton; Bridget Barrett.
3M is known to have one of the most innovative work cultures. Over the years it has developed values and norms that are geared toward innovation. 3M believes its innovative work culture is a huge factor in its success. 3M Values To.Download