3m Company Analysis Strategic Management

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One of the most analyzed and successful businesses of today is the 3M Company. “3M’s ability to keep churning out new innovations is very much dependent on the company’s long-standing commitment to open innovation, both internal and external”, as stated by Holman, Baker and Jaruzelski (2011).  3M has a very diversified product base that extends to many work environments in the world today. They are able to reach out to many people on many levels and provide a product relevant to each field.  3M is a company that was founded in 1902 in Minnesota.  As of today, 3M has companies operating in at least 65 different countries (Corporate Office, 2013). 3M uses science in many different ways to create products that help to improve lives.

 Another strength of 3M is their presence across the globe and a balanced revenue. According to MarketLine (2019), the company is able to operate in 80 facilities in 29 states in the United States.  They also are operating 125 manufacturing and converting facilities in 37 other countries outside of the United States. So their ability to be available all over the world gives them an upper hand over other competitors in the same markets.R & D or Research and Development are key factors in the success of any business.  

 3M uses their constant research and development to improve many factors of their business. They constantly look to improve their current products as well as enhance their manufacturing and production methods. This is also used to find ways to improve all services (MarketLine, 2019).

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