Case Study 7: 3M - Where Innovation Is a Way of Life

3M sells more than 50,000 products in nearly 200 countries across dozens of industries, including office products, construction, telecommunications, electronics, healthcare, aerospace, and automotive. Among its products are some of the worlds most recognizable consumer brands, such as Scotch tape, Nexcare first aid products, Filtrete home filtration products, and Post-it Notes. But 3Ms portfolio is also packed with hundreds of brands that most people have never heard ofsuch as Pruven waste bags for picking up dog poop. This case examines the systems and culture of a company that is on the cutting edge of innovation, releases new products every year, and maintains a strong profit margin without fail.

Questions:

1. Based on concepts discussed in this chapter, describe the factors that have contributed to 3Ms new product success.

2. Is 3Ms product development process customer centered? Why or why not?

3. Considering the product life cycle, what challenges does 3M face in managing its product portfolio?

4. Are there limits to how broad 3Ms product portfolio can grow? Explain.

5. Is it possible for 3M to maintain steady growth and profitability and raise that growth to much higher levels?