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- 1. Individual project assessed bypeers Culture of innovation By Paola Vacca
- 2. 5 Innovations of3M 1. Wetordry sandpaper® (20´s, 20th century) 2. Scotch® Painter's Tape (20´s, 20th century) 3. The first dose-regulated inhaler (50s, 20th century) 4. Magnetic recording tapes for audio and video (50s-60s, 20th century) 5. Sticky post-it notes (80s, 20th century)
- 3. Culture of 3M •3M has products for manufacturing sectors of cleaning products, offices, chemicals, pharmacological, automotive, energy, transport, manufacturing, among others. • For more tan 100 years, 3M has a culture of innovation by creating new products. In fact, 30% of the revenues from the company come from products with 4 years old. • They have a Research & Development department. Employees of technologies can spend 15% of their time creating innovations for 3M. • 3M thinks that “You have to Kiss a lot of frogs to find the prince”, thats the reason employees can créate by taking risks and not being afraid about making mistakes. • Managers at 3M said: “it takes six to seven years to kill an idea in 3M”, that´s the reason they encourage employees to create. • Because sometimes they have new products, to create demand 3M decided to offer simples and thus captivate the consumer . That´s another way to innovate. • 3M works in improving the new products.
- 4. 3M Culture´s withits innovations • 3M is a company that owns around 5000 patents; innovation is the most valuable asset they have. They encourage employees to create new products or ideas. They replace products or make them better. 3M are not afraid of making mistakes. • Innovation can occur at any time, and to create networks inside or outside the company can help to reach that goal. • Some ideas or products start with little start-up capital and without a customers demand. But in 3M they innovate in the way they introduce products with marketing strategies to create the demand of customers by givig simples. • Employees in 3M could developed and managed their innovations, depending on the sucess of the product. As a result, the structure of the business and of the company has evolved for leadership for innovation. In that way, people stayed at the company, ina a culture of happiness and creating more.
- 5. Bibliographic research • Strategysynthesis. Resolving Strategy Paradoxes to Create Competitive Advantage. Bob de Wit and Ron Meyer Thomson Learning, second Edition. 2005 London. • Revista Semana https://www.semana.com/economia/empresas/articulo/tapabocas-asi-enfrento-3m-la-escasez-y-posterior-falsificacion-de-los-n95-habra-mas-riesgos/202102/ • GURUX 3M, UNA CULTURA DE INNOVACIÓN https://www.elgurux.com/3m-cultura-de-innovacion.html • FORBES 3M https://forbes.co/2021/08/17/empresas/3m-colombia-cumple-60-anos-apostandole-a-la-ciencia-y-la-innovacion/ • Innovation at 3M: https://www.youtube.com/watch?v=ngEwmVS3ILY https://www.3m.com/3M/en_US/company-us/about-3m/innovation-center/ https://www.3m.com.co/3M/es_CO/inicio/sobre-3m/ • Institute of next https://www.instituteofnext.com/las-claves-de-la-innovacin-en-3m/ • 3M: el reto de cambiar una cultura complaciente http://www.eexcellence.es/index.php/expertos-en-gestion/3m-el-reto-de-cambiar-una-cultura-complaciente
- 6. Lessons learned 1. As3M did, it´s important to make innovation as a strategy to build your organization. 2. Networking is an important tool to create. To work with clients can help to develop innovations. 3. Not to be afraid of making mistakes. 4. Give time and incentives to employees to innovate. 5. Decentralize decision-making and innovation. 6. To provide a Budget for innovations and create opportunities for innovators in order they can grow with their innovations and make a carrer in the company. 7. It´s important to develop or use a model to evaluate innovations.