Transcript
Business venture
Answering a billion diverse dreams…Through innovative technologies…
That Help people succeed…
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Inspired past.. Enabling today.. Leading tomorrow … our journey is yours.. 3M
Minnesota
Mining
Manufacturing
Science-based company
Technology giant
Market Cap $73.42 B (As of May
2013)
Industry: Conglomerates
Founded: 1902
Country: United StatesCEO: Inge Thulin
Employees: 87,677
Sales: $29.9 B
http://www.forbes.com/companies/3m/
25 years ago… A global innovation giant ventured into India
3M’s India Operation begin. The seeds of innovation sown.
[1998 – 1993] Foundation years
• 3M joins hands with the Birla group to set up JV• Manufacturing operations established at
Electronics city, Bengaluru
• 1st product UY connector, addresses the newly opened telecom sector
• MS2 (modular splicing system) - India's first local innovation
• Solutions targeting Home care, Telecom, automotive & industrial markets
• Goes public in 1991, the only public listed 3M subsidiary
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25 years ago… A global innovation giant ventured into India
Key Insights Revealed
Growth begins with added manufacturing & innovating capabilities
[1993 – 2008] Growth years
• Birla 3M becomes 3M India• Graphic production Center for Automotive
graphics – a key business growth driver established
• 3M’s first Innovation Centre in India, set up at Bengaluru to focus on local product development
• Ahmedabad plant begins manufacturing anti-corrosive coatings targeting infrastructure growth
• Strategic business acquisitions• Manufacturing facility at Ranjangaon, Pune
commissioned to cater to adhesive, Abrasive & Healthcare business
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25 years ago… A global innovation giant ventured into India
Key Insights Revealed
‘In India for India’, customer centric approach drives ‘Go to market’
[2008 – 2013] Transformative years
• ‘In India for India’, - localized product innovations target Road safety, Healthcare, Industrial & Automotive & Home care markets
• Newly launched retail foray, 3M Car Care Centers, - ‘Go to market’
• New R & D Centres at Bengaluru & Gurgaon to drive local innovation
• Growth plans afoot become a Billion $ Mumbai, Gurgaon, Kolkata, Pune & Hydrabad become hubs to channel regional reach.
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3M Products
Consumer and Office Business
Safety, Security and Protection Services Business
Industrial and Transportation Business Health Care Business
Electro and Communications Business
Display and Graphics Business
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7
Open innovation
Product Brought to market
Select successful
Ideas
From External or
Internal sources
Develop New ideas
Idea Generation
Selection
Execution
Commercialization
Organization
Current Market
Prototypes and
Production
3M™ Littmann TeleSteth™
Electronic stethoscopes
Electronic stethoscopes + telemedicine/diagnostic software
Telesteth online auscultation
software
Stethassist software
Cardioscan heart sound-analysis
software
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Post it (repositionable notes)
Spenser Silver
• Born 1941• Co-creator of the Post-it note• In 1966, earned a doctorate in organic chemistry from the University of Colorado in 1966, before taking a position as a Senior Chemist in 3M's Central Research Labs.
• Born 1931• Co-creator of the Post-it note•In 1953, while still enrolled in undergraduate school, Fry took a job at 3M as a new product development researcher.
Arthur Fry
1980 - Term "Post-it" & Canary yellow color - trademarks
In 1968, Spencer Silver (with the help of Jesse Kops) accidentally developed a "low-tack", reusable pressure sensitive adhesive.
For five years, Silver promoted his invention within 3M, both informally and through seminars, but without much success.
He was unable to find a marketable use for his invention.
In 1974, Arthur Fry attended a seminar given by Silver asking for ideas for his adhesive.
“slips of paper” to mark the pages of his hymnal.
Silver's adhesive could be put to use to create a better bookmark. If it could be coated on paper, Silver's adhesive would hold a bookmark in place without damaging the page on which it was placed.
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THE PROCESS OF TECHNOLOGY INNOVATION
THE PROCESS OF TECHNOLOGY INNOVATION 3M's Scotchgard brand fabric protector (1956)
Patsy Sherman and Sam Smith
Do-it-yourself
Fluorochemical polymer
Experiment - repel oil and water from fabrics
Resilience
Enhance the liquid repellency
1956 & market leader
Versatile fabric and material protector
Website, TV
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Strategies for long-term, sustained innovation
Foster a culture of innovation by allowing team members to take risks in a protected environment
Apply and use Open Innovation; host ideation sessions with members of all departments
Reward and encourage creativity
Vision: 3M Technology Advancing Every company; 3M Products Enhancing Every Home; 3M Innovation Improving Every Life
Dedicated R&D – 6% of its yearly revenue to R&D
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