MBA580 4-1 Benchmark Study

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Southern New Hampshire University *

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Jan 9, 2024

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4-1 Benchmark Study: 3M Angelie Augustin Southern New Hampshire University MBA 580 – Innovation and Strategy for High Performance Organization Dr. Quiana Bradford December 29, 2023

The Minnesota Mining and Manufacturing Company known as (3M) is an American multinational company that operates in the industry or worker safety, healthcare, and consumer goods. According to Wikipedia, 3M constitutes global operations that appear in two hundred countries and amble a multi-product and multi-market business. 3M employs 70,000 employees while producing $15 billion in sales, the company also produces over 60,000 products under brands they sell. 3M is always in alert when it comes to innovations, it has always been a huge factor to their organization, as a result for one hundred years 3M has established a reputation as a major innovator. 3M manages innovation through employee engagement, processes, and collaboration. They are strong believers in keeping employees happy and engaged to develop their inventive mind so they can contribute current ideas into the company. 3M developed processes that support and facilitate innovation by creating a culture that encourages risk-taking, tolerates mistakes and reward achievements. According to 3M, they use and combine technology in a unique way across companies to create new products and new lines of business, all by maintaining value sustainability commitment that demonstrates how the product drives impact for the greater good (3M 2023). The innovation strategy and leadership style within 3M, is that the company foster innovation through diversification and employee support. Their ideas involve creating and developing ideas through “open innovation” which means the collaboration of external and internal partners to generate novel solutions. Its leadership style is based on empowering its employees to experiment, learn and share their insights across organizations (3M 2023). According to 3M, they enable their innovation process by implementing the “15% rule” which

allows employees to spend 15% of their time working on their own projects. They are engaged in scientific research/development and are committed to open innovation (3M 2023). According to 3M, the management team at 3M rewards employees through recognition points based on revenues that come from products introduced in the last four years. Employees receive bonuses based on successful achievement of their goals and ideas. The company knows not every product created will result in a final usable product which is why they employ the thirty percent rules, where 30% of each division’s revenue must come from the product introduced. According to 3M, they also use a tactic called permission to play, where they will allow employees to spend a proportion of their time in curiosity-driven activities which may lead to zero results but in many cases has given them breakthrough/successful products. Because 3M company is rooted on the idea of collaboration and individual initiative, their tolerance for mistakes and the absence of pressure for short-term results is high, this cultural trait enhanced the innovation culture because it creates an environment of entrepreneurial that derives from original thoughts, give employee a sense of purpose and belonging which are crucial to 3M’s success. When comparing 3M with our organization mentioned in the scenario, we can recognize there is a difference in organizational structure. 3M creates an environment of independent workers/thinkers and has a solid foundation that ensures the voice of the people from top management to new employees. However, our company almost seems dysfunctional, disorganized and does not properly account for the levels of hierarchy. Communication within our company is repeatedly disinclining and difficult, which often time makes the design-making process idle. The document mentioned “Specialists are pulled from functional areas to work on a specific project or product design. They report to two managers at the same time and may work on multiple projects simultaneously.” (SNHU, n.d.). Having bountiful expertise CEO’s working

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