3m Control Systems

3M Corporation Company Background: 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 3Ms six descent divisions: industrial; transportation, graphics, and safety; healthcare; consumer and office; electro and communications; and disparateness materials. All business divisions were profitable in 2000. The same year, the beau monde made more than 60,000 products and about $5.6 billion sales came from products that had been introduced during the former four years and another $1.5 billion came from products introduced during 2000. Annually, more than 75,000 employees worked to build more than 500 new products. The company was recognized for its good organizational structure, with businesses established by technologies and markets. It was one of the most look up to corporations in America and was awarded the National Medal for Technology, the U.S. governments authorise award for founding, in 1995. Business Goals and Strategy: 3M Corporations individually division is treated as a profit sum with no interdivisional business between the six divisions. The business whole strategy is to hold as the company wants to maintain and append profitability and market share.

In terms of corporate strategy, 3M functions as an unrelated diversified corporation with the prime goal to preface consistently, thereby offering a large product immoral to customers and maintaining competitive advantage. Current Management Controls with Evaluation and Recommendations: Early in 3Ms history, chair and CEO William L. McKnight introduced a number of formal and cozy controls to enable the corporation to innovate consistently and achieve its goals. The incumbent management has continued to expand and embrace these controls, believing innovation to be the cornerstone of 3Ms future. 1.3M promoted intrapreneurship ? This is a very good control. 3M was the attraction in intrapreneurship and... If you want to get a full essay, bless it on our website: Orderessay

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