Innovation at 3m Corporation

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Innovation at 3M Corporation



1 1 2 3 4 Background Source of Innovation Innovative Culture Lead User Research

5 Impact of Lead User Method 6

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Background of “ Lead User Innovation”

“ Traditional strategic planning does not leave enough room for innovation “

understand leading _edge customer needs to change the basis of Competition

working closely with customer & understanding market need


Definition of lead users Lead users refers to users who are ahead of the majority of the market on a major market trend, and who also have a high incentive to innovate. Producers seeking user innovations to manufacture try to source innovations from lead users - because these will be most profitable to manufacture

Milestone of 3M in Innovation
 1902 The Minnesota Mining and Manufacturing Company (3M) founded  The company has a long and famous history of innovation. They are known for such products as the Post-it which revolutionized the way individuals communicate, masking tape, and waterproof sandpaper.  1961 Medical Products Division, the first 3M division dedicated solely to health care, founded.  The Health Care Unit was an important component of 3M’s business model, contributing a large percentage to the company’s revenue streams  The unit had failed to introduce a successful product in almost a decade  3M is third in this year's BusinessWeek ranking of the world's most innovative companies, based on a global survey of top executives


3M's Seven Pillars of Innovation
• • • • • • 1. From the chief executive on down, the company must be committed to innovation 2. The corporate culture must be actively maintained 3. Innovation is impossible without a broad base of technology 4. Talk, talk, talk.…...

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