About the company <br />One of the great examples of success through change and innovation<br />Scotch tape and Post-it no...
 Key Issues	<br />Increasing input cost<br />Slow growth rate<br />
Strategy<br />Categorize the products into six broad categories<br /><ul><li>Health care
Specialty material
Industrial products
Consumer and office products
Electro and communication products
Transportation, graphics , safety products</li></li></ul><li>Strategy<br />Cutting down input cost by : <br /><ul><li>Sele...
Shifting some production overseas
Centralizing the purchasing process
Cutting the supplier roaster</li></li></ul><li>Strategy <br />Stream lining internal inefficiencies<br /><ul><li>By curing...
Upcoming SlideShare
Loading in …5
×

3M

7,666 views

Published on

Published in: Business
  • Be the first to comment

3M

  1. 1.
  2. 2. About the company <br />One of the great examples of success through change and innovation<br />Scotch tape and Post-it note : Two main products innovations<br />James Mc.Nerney appointed as CEO of 3M <br />
  3. 3.
  4. 4. Key Issues <br />Increasing input cost<br />Slow growth rate<br />
  5. 5. Strategy<br />Categorize the products into six broad categories<br /><ul><li>Health care
  6. 6. Specialty material
  7. 7. Industrial products
  8. 8. Consumer and office products
  9. 9. Electro and communication products
  10. 10. Transportation, graphics , safety products</li></li></ul><li>Strategy<br />Cutting down input cost by : <br /><ul><li>Selective layoffs
  11. 11. Shifting some production overseas
  12. 12. Centralizing the purchasing process
  13. 13. Cutting the supplier roaster</li></li></ul><li>Strategy <br />Stream lining internal inefficiencies<br /><ul><li>By curing the dental ceramics
  14. 14. $600 million saved from expenses</li></li></ul><li>IMPORTANT FACTS<br /> Company has more than 76000 employees<br /> Produces over 55000 products<br /> Operates in more than 60 countries<br />
  15. 15. ALREADY STATED FACTS 3M<br />One of the great examples of success through change and innovation<br />Scotch tape and post it : Two main product innovations<br />
  16. 16. MOVEMENT<br />Managers asked to change and determine early in development process<br />Company was asked to build plant for a new product after analyzing its demand in the Marketplace<br />Change approach towards “yes or no” of the production<br />
  17. 17. REFREEZING<br />Abolishment of seniority based compensation plan in favor of merit based structure <br />Pay and promotions to outstanding Employees and Managers<br />Leadership development school<br />
  18. 18. CONCLUSIONS<br />Broad categorizing of products increased market peneteration<br />Cost cutting saved $6oo million from 3Ms expenses<br />Company’s internal inefficiency and quality improved : Gave a sizeable boost to 3M<br />
  19. 19. THANK YOU<br />Hitesh Bhardwaj<br />Robin Bansal<br />Isha Sharma<br />PriyankaRawat<br />DeeptiBhardwaj<br />

×