3m Case Study

industry covers services and platforms with a vast variety of focal markets. The portion of the

| McDonald’s is a food service retailer and aimed at making profit and its restaurants are owned and operated by local people worldwide. Its mission is becoming a leader in food sector and best customer service according to their needs. Their main product is food.

Board game industry had boomed since 2000s with a 100% increase in sales in the last 5 years (House, 2013)

They reached an all time high sales and revenues in 1995 of $20 million; however their profit margin decreased to 4.27%.

Biomet 3I is the company I have been working for since 2007. Biomet, Inc. is a medical device  headquartered in the Warsaw, Indiana business cluster. This company specializes in reconstructive products for orthopedic surgery, neurosurgery, craniomaxillofacial

Software, On-Line Retailing, Pharmaceutical and Communication Equipment. Financial statement candidates would be A, F, G & J.

1. MM possesses a competitive position in this segment in terms of quality product offering and close customer relationships through high level of customer support.

Revenue continued to double throughout the nineties. In 1995, Best Buy’s revenue was $3 billion, but there was no profit. They trained their employees to believe that customers were in charge of sales, not salespeople, and that they were there to assist in purchases, not be pushy. The consumer of the millennium was less needy for assistance in buying electronics; audio, video, and computer systems were commonplace in households of the time. Customers were allowed to help themselves to items on shelves, much like a grocery store setup, and check out when ready. This bolstered customer satisfaction rates. Revenue was above10 Billion in 1999. (Company Histories)

At the end of the fiscal year 2000, total company sales reached $191 billion dollars. This was an increase over the previous year of 15.9%. Total international sales amounted to $32 billion dollars at the end of the 2000 fiscal year, which was an increase of 41% over the previous year.

3M heavily based its business on innovation and while doing this it always supported its employees in terms of being innovative. 3M also always followed the alternative ways in order to increase their profit and market share, and they found that one of the best ways is through organizational innovation. Therefore, in order to improve their business 3M developed 6 different strategies over its history. These strategies helped 3M to promote entrepreneurship and increase customer satisfaction within the market.

The Minnesota Mining & Manufacturing Corporation (3M) was founded in 1902. It reported sales revenues of $16.7 billion during the year 2000. These revenues came from 3M's six business divisions: industrial; transportation, graphics, and safety; healthcare; consumer and office; electro and communications; and specialty materials. All business divisions were profitable in 2000. The same year, the company made more than 60,000 products and about $5.6 billion sales came from products that had been introduced during the prior four years and

o No finished good inventory, assembly on actual orders from 4 manufacturing plants, US, Ireland, Malasyia and China,

     Strong Products and Brands Global Presence High ethical standards High safety standards Highly influential market segment

The company 3M is a diverse company that was incorporated on June 25, 1929 with presence in more than 10 industries alone. “3M products are sold through a number of distribution channels, including directly to users and through wholesalers, retailers, jobbers, distributors and dealers in a range of trades in a number of countries worldwide” ("3M Co," n.d., para. 1) The company head quarters is located in St. Paul Minnesota, however 3M has locations all over the United States. 3M is best known within the consumer industry with brands such as Post-it, Scotch, Scotch-Brite, Filtrete, O-Cel-O, Nexcare, and Command. “3M is one of 30 companies in the Dow Jones Industrial Average and also is a component of the Standard & Poor's 500

H&M adopts and implements better technologies immediately, whenever they become available, regardless of whether or not any other organizations are currently using them.