3m
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Title: 3m

Essay Details:

Subject: Business
Author: Luz S
Date: July 6, 2012
Level: University
Grade: A
Length: 4 / 997

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. 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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