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3M
Title: 3M
Category: Literature / English
Details: Words: 1110 | Pages: 4.7 (approximately 235 words/page)
3M
3M’s Innovation Process
“Core Technologies”
Sandpaper/abrasives
Masking tape
3 approaches towards further product innovation
In-house grants
Exploring outside ideas
“dual ladder” approach
Goals for growth R&D
30% of sales from products
that did not new products
previously exist -vs-
* 10% annual growth in EPS line extensions
* 27% ROC hiring out for
20-25% ROE market research
reports
Lead User Research
Stage I: Project Planning
Stage II: Trends/Needs Identification
Stage III: Preliminary Concept Generation
Stage IV: Final Concept …showed first 75 words of 1110 total…
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…showed last 75 words of 1110 total…with satisfying them, which can also be seen with such companies as Wal-Mart.
Core capabilities come in many different shapes and sizes, so to speak. The problem is deciding which one would work best for each individual firm. The key is to remember to ensure a connection between the business processes and the needs of the customer. “A capability is strategic only when it begins and ends with the customer” (“Competing on Capabilities”; pg.60).
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