Strategic Management And Strategic Competitiveness

Submitted By Brndylndrm1
Words: 1748
Pages: 7
Open Document
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
Show More

Related Documents: Strategic Management And Strategic Competitiveness

Memo Writing Guidance Essay

Memo Writing Guidance To: A Colleague From: Eli Scoggin Date:October 12, 2014 Much like picking the moment to come talk to me about how to setup a bad memo for our boss, is the same as picking the right way to present the information to our boss. First, order of information must be accounted for with an evolving perception of how the information is received. Also, picking your words wisely should be taken in to perspective with the tone of the memo, since the information will be negative. It…

Words 479 - Pages 2

Business Communications Essay

paper-based messages. Paper-based: • Business letters: letterhead stationery, best channel for permanent record, confidentiality is important, sensitivity and formality are essential, and for persuasive, well-considered presentation • Interoffice memos: internal communication, now to convey confidential information, emphasize ideas, introduce lengthy documents, or lend importance to a message, good for explaining organizational procedures or policies that become permanent guidelines. Electronic:…

Words 1701 - Pages 7

Rcm 300 Reflection

This memo talks about the progress I have made through this term in RCM 300. I will show my progress by talking about what I have learned and the areas I can still improve in. I would like to being by talking about what I have learned in this class that is not attached in my portfolio. I learned that public speaking is not as bad as I had expected. The self-introductory and final report speeches are examples of this. I felt nervous when I first started talking, my legs, hands and voice started…

Words 442 - Pages 2

Employee Dilemmas Essay

will put our focus on healthcare. Between 2000 and 2005, walmart’s stock decreased by 27 percent due to bad publicity. This was because of a memo sent by the executive vice president for benefits, Susan Chambers. The memo discussed that the workers hired should be part-time, healthy and more productive. The reason being, if workers hours are less than 30, walmart can eliminate health care for new employees and also cut health benefits for current employees. Working less than 30 hours can also be subject…

Words 374 - Pages 2

Ob Effective Communication Essay

As we can see, George was actually surprised when he found out that John was upset when he received the memo following his accomplishment. The latter misunderstood the intention because the medium used in this communication was usually used to deliver ‘bad news’. William also found that shop floor employees were not accustomed to talking with the management and office staffs. This was because, any verbal communication that occurred…

Words 2339 - Pages 10

The Writing Process Essay

company would like to honour the claim, but point out that it could not happen because the warranty is expired. 2. David’s secondary purpose in sending a message is to promote goodwill on behalf of the company. He does not want to make the company look bad in the eyes of the customers, so he will make sure to point out that the company is doing all it can to satisfy the customer. 3. The channel that is best suited to communicate this type of message is writing a letter to the customer explaining why…

Words 1298 - Pages 6

Bernard Malamud's The Natural

Humans by nature have a drive to fight for what they believe rightfully belongs to them. The “what” ranges from a vast number of things being other humans, or even objects. It is within these possessions that Warriors feel will give their life meaning and consequently allow them to achieve true happiness. Psychology author Carol S. Pearson explains in her book, The Hero Within: Six Archetypes We Live By, that to win any battle, Warriors must first go through a journey within their lives to truly…

Words 1140 - Pages 5

Nt1310 Unit 4

between a'smart' and a'smart'? Memorandum (Memo): Memos are internal documents used to communicate information within an organization. They are typically used for conveying official announcements, policy changes, or directives to employees. Memos are relatively brief and to the point, usually consisting of a header, subject line, introductory paragraph, body text, and closing. They are distributed electronically or in print within the organization. Memos should be well-organized, with important information…

Words 2165 - Pages 9

2015 BW Curriculum For Freshmen Student Packet Essay

About the Company Business Writing is a training company that teaches freshmen and sophomore students how effectively write memos, letters, reports, and other business correspondence. Purpose Our purpose is to support one of six undergraduate learning goals which states: Our graduates will have the ability to influence and inform others through effective presentation of business administration and accounting principles, practices and ideas using oral, written, and graphic expressions. Company Vision…

Words 8041 - Pages 33

Essay on Critical Thinking

of multiple possible meanings for a word or phrase” (Browne & Keeley, 2012, p. 41). Ambiguity results whenever a word or a phrase can have more than one distinct and valid meaning and can usually be eliminated through extra information. In the memo there are several ambiguous words and phrases that require further explanation. 1) The Governor states that privatization will result in “approximately” $250,000.00 per year in budgeted personnel costs. What does approximately mean? Is it plus…

Words 3492 - Pages 14