Company profileIndustry : Conglomerate

Founded : Two Harbors, Minnesota U.S.(1902)

Founder(s) : Dr. Danley Budd, Henry Bryan, Hermon Cable, John Dwan,

William Mc Gonagle.

Human resource: over 80,000 employees.

Product: more than 55,000 products.

Headquarters : Maplewood, Minnesota,U.S.

Area served : Worldwide

Key people : George Buckley (Chairman, President & CEO)

Revenue: US$ 26.662 billion(2010)

Company believes…..

Mistakes will be made, but if a person is essentially right, the mistakes he or she makes are not as serious in the long run because the person who made mistake means he/she are taking initiative and it is essential that we have many people with initiative if we are to continue to grow. .

Sustainable developmentBy an approach (3p)Policies and practices

•Satisfying our customer with superior quality and value.

•Providing investors an attractive return through sustained,high-quality growth

•Respecting our social and physical environment.

•Being a company that employees are proud to be part of

Innovation and creativityAttributed to multiple and mutual supporting layer.

Layer 1

• Primary concern is the 3m culture• The main vision is to be the most

innovative enterprise in the world and 3m basic definition is : “new idea+action or implementation which result in an improvement, gain and profit.

Layer2

Knowing when to grab and let go discipline and support, in a parody of strategic planning versus evolutionary approach.The company strives to search out customer needs while concentrating on its own abilities, and priorities development by encouraging individual initiative.

Layer3

Layer 3

• Sharing information between R&D, marketing ,sales and other dept .

• In terms of managing innovation, several themes are promoted: like 15% rule,(employee are allowed to use 15% of their working day to concentrate on their own idea)

The innovation process Things they consider…………

Q)Is sustainability was incorporated into the NPD process?

Generally they start by considering the product’s intended use and then look for risk or factor that might hamper sales they also improve or modify the product from a sustainability point of view.

Q)Assessments of the cost of moving to a new greener product vs. possible clean-up-cost if a dirtier product was used?

“Lcm” is not only about ‘green’ all environmental health and safety aspects are included cost will also included as a part of the risk assessment.The four area in which “lcm” deals with•The potential risk of certain materials in their product.•The safety and environmental risk in manufacturing and sourcing product.•The risk to customers in using product•The risk both current and future in terms of legislation in disposal of the product

At 3M, A Struggle Between Efficiency And Creativity

Proud creative cultureGreen-belt training regimenReinvigorated workforce

Terminology

• LCM => Life cycle management.• EHS => Environmental healthy & safety .• 3 P.• Enventropreneur