benchmark study

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Southern New Hampshire University *

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Jan 9, 2024

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Erika Rivera Donate 4-1 Benchmark Study MBA 580: Innov / Strat High Perform Org October 15, 2023 Southern New Hampshire University
3M has been in the market for many years, increasing value by accelerating innovation and investing in the people and culture. The focus are markets with greater growth like e- commerce, healthcare, personal safety, electric automotive and home improvement. 3M enables innovation making faster decisions and developing strength across the market. The company is constantly moving and integrating people’s input to recognize effort over achievements. 3M has won the innovation award they also have the Hall of fame. They allow employees to explore curiosity at work which leads to new products. Their hiring process is focus on people with innovative characteristics. Looking at the success of #M over the last 100 years, how they manage innovation and overcome opportunities is a great way to implement lOT to our company and identifying gaps and possible challenges through the process. Looking at the structure of our company versus 3M there is a big communication chain that goes from higher management to customers which makes the process longer to take effect. Integrating employees to the process and empowering them to make changes and take decision to solving any problems is more effective than going through the loop of the process. This empowerment has made 3M successful. When employees are part of the decision-making process, it enables creativity, commitment and growth. Integrating an open communication system allowing informal meetings make the developing process faster and clear for those at the lower level of hierarchy. Having a clear communication system will lead to teamwork and higher performance, product development and innovation. Using 3M success as a guideline, our company will have to do a restructuration. The company need to empower people to make decision rather than going through the long line of hierarchy. Decision making process should be closer to customer and those innovators identifying opportunities, integrating technology and developing. Moving this process down the chain of command will enable better communication inside the organization. On the other hand, a recognition system will serve as a motivator for employees. Recognizing little achievements leads to happier employees, better work culture and higher performance. A recognition system
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