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Title: 3m

Essay Details

Subject: Business
Author: Luz S
Date: July 6, 2012
Level: University
Grade: A
Length: 4 / 997
No of views: 0
Essay rating: good 0, average 0, bad 0 (total score: 0)

Essay text:

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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