3M: Leading the Way in Sustainability
| Case Code: CSRS012 Case Length: 16 Pages Period: 2010-2021 Pub Date: 2023 Teaching Note: Available |
Price: Rs.400 Organization: The 3M Company Industry: Conglomerate Countries: United States Themes: Sustainability, Brand Strategy,Corporate Responsibility,Sustainable Innovation |
Abstract Case Intro 1 Case Intro 2 Excerpts
Background Note
In 1902, a small-scale mining venture Minnesota Mining and Manufacturing Company (generally referred to as 3M) was formed in Northern Minnesota, US, to mine for corundum, a mineral ideal for making sandpaper and grinding wheels. Later, the company did research and produced various sandpaper products and tape products. Over the years, 3M’s strategy was to develop a new product for a segment/niche, set the price, and then dominate that segment or niche. During the 1930s, 3M diverted around 45% of its profits into new product research, which resulted in successful products that enabled it to triple in size during the worst decade that US businesses had ever endured..
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