Question.1928 - Overview: This case traces the development of 3M’s innovative and global culture from its early days through 2018. The main focus of the case is on the evolution of culture at 3M, and how this culture drove their global strategy through a continual stream of product innovations that have taken the company into a large number of different industries. The case also looks at how management deliberately institutionalized the emerging culture at 3M by creating rules and procedures that provided opportunities for, and rewarded, innovative risk taking. Instructions: You will need to review the case study in your textbook (Case 19), the weekly readings, and outside research, then answer the following questions utilizing topics covered in chapters 9 and 10. • How was the culture of entrepreneurship and innovation nurtured at 3M from the era of McKnight through to that of DeSimone? How has entrepreneurship been institutionalized within the company? • What were the strengths of the organization and culture of 3M during the McKnight to DeSimone era? What were the potential weaknesses? • Over their existence, 3M has utilized both related and unrelated diversification. Please provide an example of each in relation to 3M. How did each type of diversification work out for the company? • Utilizing different examples than in question 3, what has 3M done right with their diversification? What have they done incorrectly? Why? Requirements: • Submit a two-three page Word document covering the elements of the assignment. • Develop a clear introduction, body, and conclusion. Use paragraph format and transitions. • Focus on the quality of writing and content. BUS411 – Business Policy Seminar 3M: The Innovation Engine – Case 19• Use elements of APA formatting (title, references, and in-text citations). Abstract is not required. The title page, reference page, and appendices are excluded in page length requirement. • Research and cite at least two academic sources in APA format. Be sure to read the criteria below by which your work will be evaluated before you write and again after you write.
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Introduction The case study on 3M investigates the company's entrepreneurial and innovative culture, tracing its evolution from the McKnight through the DeSimone eras. This examination will look at how 3M fostered and institutionalized entrepreneurship. It will also assess the culture and organization's strengths and weaknesses during this time. The study will also look at how related and unrelated diversification are used by 3M, giving instances of each and evaluating the results. Finally, it will talk about how 3M's diversification approach has worked and not worked. Main Body Question 1 From the McKnight to the DeSimone eras, 3M's entrepreneurial and innovative culture was fostered through various programmes and procedures. First, under McKnight's direction, the business established a welcoming environment that promoted risk-taking and experimentation. According to Abdullaeva et al. (2021), the ability to test out their concepts and work on creative initiatives was granted to the staff. The "15% Rule" was implemented, allowing staff members to dedicate 15% of their time to personal endeavours, encouraging idea generation and individual innovation. Secondly, entrepreneurship was nurtured through empowering personnel. 3M followed a decentralized choice-making system, granting autonomy to employees to make choices and take ownership of their tasks. Finally, entrepreneurship turned institutionalized within 3M through planned management actions. According to Alm et al. (2020), the corporation created regulations and methods that supported and rewarded revolutionary threat-taking. Question 2 During the McKnight to DeSimone era, 3M had several organizational and cultural qualities that supported its success, including: Firstly, 3M had a longstanding commitment to innovation, deeply ingrained in its lifestyle. According to Guerrero & Urbano (2019), the business enterprise fostered an environment that recommended creativity, danger-taking, and idea technology. Secondly, 3M embraced a decentralized selection-making method, granting personnel the autonomy to make selections and take movements. Despite these beneficial characteristics, 3M's organization and culture had potential flaws. Firstly, with various industries and product strains, 3M confronted challenges preserving a pure strategic consciousness. According to Kwilinski et al. (2019), the enterprise's diversification efforts resulted in numerous portfolios, which sometimes made it challenging to allocate resources effectively and prioritize investments. Secondly, the decentralized decision-making technique, although empowering, carried the hazard of fragmentation inside the company. With multiple enterprise units and various initiatives, there was an opportunity for duplicated efforts, lack of coordination, and inefficiencies. Question 3 3M has used both related and unconnected diversification techniques throughout its history. First, one instance of related diversification for 3M is its acquisition of Capital Safety in 2015. Capital Safety become an international leader in fall protection gadgets and services. Second, an instance of unrelated diversification for 3M is its access into the healthcare quarter thru the purchase of Aearo Technologies in 2008. While unrelated to its conventional business and consumer organizations, this diversification opened new boom avenues for 3M. According to McIvor (2000), to capitalize on its core competencies, expand into new areas, and spur growth, 3M has successfully implemented both linked and unrelated diversification initiatives. Question 4 The entry of 3M into the automotive sector is one example of the company's successful diversification. 3M created cutting-edge automotive solutions using its knowledge of adhesives, abrasives, and other materials. Salampasis & Mention (2019) state that automotive manufacturers and repair shops have adopted several products, including automotive tapes, adhesives, and paints. 3M's diversification strategy was successful because it could take advantage of a high-demand market and leverage its core skills to provide beneficial solutions to the sector. Conversely, 3M's entry into the pharmaceutical sector could have been a more successful attempt at diversification. Early in the new millennium, 3M bought enterprises involved in inhalation technology and drug delivery. According to Sergi et al. (2019), the company needed help navigating the complex and tightly regulated pharmaceutical industry. Conclusion In conclusion, a positive work environment, employee empowerment, and reward for success have fostered the culture of innovation and entrepreneurship at 3M. However, the likelihood of fragmentation and a lack of strategic focus are possible drawbacks. With synergistic acquisitions, 3M has successfully used related and unrelated diversification. However, some diversification efforts have encountered difficulties like resource overuse and integration problems. References Abdullaeva, M. N., Masharipov, M. N., & Allamuratova, M. S. (2021). DIVERSIFICATION OF PRODUCTION AS A CONDITION FOR THE DEVELOPMENT OF INDUSTRIAL ENTERPRISES. ????????? ? ??????, (2-1 (81)), 5-10. DIVERSIFICATION OF PRODUCTION AS A CONDITION FOR THE DEVELOPMENT OF INDUSTRIAL ENTERPRISES – ???? ??????? ?????? ?? ????????? ? ??????? ??????? ????????? ????? ??????-????????????????? ?????? ? ??????????? ?????????? ???????????? (cyberleninka.ru) Alm, A. A., Bergman, A., & Åge, E. (2020). Balancing Vertical Acquisitions and Strategic Outsourcing: A study of how non-efficiency conceptions can influence vertical integration strategies and impact organizational boundaries. Balancing Vertical Acquisitions and Strategic Outsourcing: A study of how non-efficiency conceptions can influence vertical integration strategies and impact organizational boundaries. (diva-portal.org) Guerrero, M., & Urbano, D. (2019). A research agenda for entrepreneurship and innovation: the role of entrepreneurial universities. A research agenda for entrepreneurship and innovation, 107-133. Chapter 8: A research agenda for Entrepreneurship and Innovation: the part of entrepreneurial universities in A Research Agenda for Entrepreneurship and Innovation (elgaronline.com) Kwilinski, A., Dalevska, N., Kravchenko, S., Hroznyi, I., & Kovalenko, O. (2019). Formation of the entrepreneurship model of e-business in the context of introducing information and communication technologies. Journal of Entrepreneurship Education, 22, 1-7. FORMATION OF THE ENTREPRENEURSHIP MODEL OF E-BUSINESS IN THE CONTEXT OF THE INTRODUCTION OF INFORMATION AND COMMUNICATION TECHNOLOGIES - ProQuest McIvor, R. (2000). Strategic outsourcing: lessons from a systems integrator. Business Strategy Review, 11(3), 41–50.Strategic Outsourcing: Lessons from a Systems Integrator - McIvor - 2000 - Business Strategy Review - Wiley Online Library Salampasis, D., & Mention, A. L. (2019). From a-value to value-multiplication: leveraging outbound open innovation practices for unrelated diversification in the sensor industry. Technology Analysis & Strategic Management, 31(11), 1327-1340. From a-value to value-multiplication: leveraging outbound open innovation practices for unrelated diversification in the sensor industry: Technology Analysis & Strategic Management: Vol 31, No 11 (tandfonline.com) Sergi, B. S., Popkova, E. G., Bogoviz, A. V., & Ragulina, J. V. (2019). Entrepreneurship and economic growth: the experience of developed and developing countries. In Entrepreneurship and Development in the 21st Century (pp. 3-32). Emerald publishing limited. Entrepreneurship and Economic Growth: The Experience of Developed and Developing Countries | Emerald InsightMore Articles From Business Law
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