Strategic Management And Strategic Competitiveness

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Assignment 1: Strategic Management and Strategic Competitiveness
Brandy Landrum
Dr. Ana Machuca
Business 499: Business Administration Capstone
April 18, 2014

3M is a innovative power in the business world. This paper will access how globalization and technology have impacted how the organization has changed and grown. This organization can utilize one of the business models to earn above-average returns, which this paper will explore both industrial organization as well as resource-based model to see which lead to most conduciveness in the work model. The vision statement and the mission statement of 3M has vastly impact the direction that this corporation has taken with it's business model as well as its success in recent years. The impact of the stockholders has also affect the overall success of the 3M corporation within each category. 3M is a leader in technology and innovation leading the world in ingenious solutions to problems. 3M started as a mining operation in 1902, trying to mine corundum, which failed due to lack of mineral on the mine's holdings. From the mine holding, the company started to work on water proof sandpaper, which turned into the start of 3M lucrative business. From the invention of water proof sandpaper in 1921 to the invention of Scotch and Masking tape in 1925. 3M discovered the value of research and development and in present time spend six (6) percent of the companies yearly revenue on development of new on innovative products. 3M reporting more than 30 (thirty) billion dollars per year in sales is quite an investment in new products, based on the six (6) percent stated figure. This company has approximately 88,000 employes in more than sixty-five (65) countries worldwide while producing more than 55,000 products. The companies listings include twenty-nine (29) international companies and thirty-five (35) laboratory sites. These products include dental products, adhesive, abrasives, fire protectants, materials used in the electronic industry, car polish, car wax, protective car films, interior car cleaning product, rust protections, hand sanitizers for the medical field,optical films, reflective coating and numerous items of undisclosed nature at this time. 3M operates many different markets such as electronic, office, telecommunications, industrial, consumer, health care, safety and other growing markets. 3M has globalization to more than sixty-five (65) countries, with a home base in Maplewood, Minnesota. This expansion has yielded an international sales over twenty (20) billion dollars which is approximately 58% of the companies total profits, and only 42% in the United States. 3M uses a template that is universal across the companies, service lines, and countries that it services. This template shares a centralized source code which is also important in the accessibility of services and products which lends itself to be a sophisticated working model. Consumers in Asia are seeing the same service line and data as a consumer in the United States. Simplified universal use has made their products easier to gain data as well as purchase. 3M has made great innovation and that in its self is a innovation. Many multinational corporations have gone to a business model were invention research and development is not completed by that company. Many companies buy new inventions at high prices, which is much less than the normal cost of development and control trials. Another tactic is separation of divisions, with separate budgets as well as separate facilities, also not true of 3M. This company has combined its thirty-five (35) laboratories with working facilities, which helps with development as well as speed of new product production. 3M has concentrated on varying their business model and not going with the typical business stream. When all the companies were switching to making military goods, during World War II, 3M
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