Mba 580 4-1 Benchmark Study: 3m Answer Pdf (Shnu)

This study source was downloaded by 100000859819779 from CourseHero.com on 02-05-2023 05:25:08 GMT -06:00https://www.coursehero.com/file/186627545/MBA-580-4-1docx/ Brittany StearnsSouthern New Hampshire University4-1 Benchmark Study: 3MMBA 580This study source was downloaded by 100000859819779 from CourseHero.com on 02-05-2023 05:25:08 GMT -06:00https://www.coursehero.com/file/186627545/MBA-580-4-1docx/1Benchmark Study: 3M3M is a large, Global, multi-product business that has been around for over 100 years. Duringthis time, it has gained a reputation of being a major innovator. The company has always valuedinnovation, and this has been a consistent and key theme since their inception (Bessant, 2013) CEOs of 3M have been strongly associated with the innovation culture and the innovation strategy is focused on two core themes. These themes are deep technological competence and strong product development. By combining these themes, 3M is able to offer a steady stream of new innovations and breakthrough products. 3M encourages innovation by setting stretch targets,allocating time and resources as slack, encouraging bootlegging, and providing resource support to innovators who want to take an idea forward.3M rewards innovation in a variety of ways. These rewards can include the Innovators Award and the Hall of Fame where members are elected based on their achievements. 3M also gives their employees time during their day to pursue curiosity driven activities