|Date:||July 6, 2012|
|Length:||4 / 997|
|No of views:||0|
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The entire team did not face any risk if the product failed.
? The product developers used to visit the factories and workplaces to talk to the workers to get ideas for products.
? The developers were not given the share of product royalties as the company believed that innovation was driven by sheer love of it...
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But the developers were encouraged by various means like rewards for innovation and grants for innovative projects.
? There was also a dual ladder approach that provided the senior technical persons with great career opportunities to advance without switching over to management.
? In the 1990s as the innovation was stagnating, most of the innovations were extension of existing product lines, management came up with a protocol that 30% of 3M's revenue should come from innovative products that did not exist four years ago...
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