|
|
This is only a preview of the paper
Click here to register and get the full text.
Existing members click here to login
|
|
|
Introduction
Since its inception in 1902, 3M as had always taken pride in its innovative zeal and entrepreneurial spirit. ... In early 1992, one of 3M’s business unit, Optical Systems (OS), had been grappling with the two-time failure of introducing new computer privacy screen product and was under pressure to abandon the idea. ...
Analysis
Company: Distinctly Innovative
3M had evolved into a highly diversified global company by 1992. ...
3M had a unique rule of 15% wherein every employee could devote up to 15% of his/her work time on innovative activities. ... However, 3M was cautious and selective enough in picking up the ideas and investing in them. ...
3M had been spinning off business units out of a new revenue generator and many such units had grown in to departments and even business divisions over years. ... The previous CEO, Alan Jake Jacobson and the current CEO, Desi DeSimone had realized the effects of slowing economic growth, growing global competition and tough competition in the technological field on the business of 3M. ... They did realize that the competitive edge of 3M lied in staying ahead of competition by bringing out new innovative products. However, they emphasized on ‘Fast to Market’ strategy and placed in house systems wherein all the players in the product launch worked together right from the inception of the idea to its marketing. ...
Collaborators within and outside the organization:
The extensive 3M networks helped in choosing the right talent within the organization at the product development stage. ... The extensive distribution network of 3M could help in marketing the new product and it could reach early to the customers
Product & Price
Based on the market research and trends, it was estimated that computer filter would sell at a distributor price of $79 and it was recommend selling the product at a retail price of $ 175. ... An innovative product like the one designed by 3M’s Optical System unit could satisfy the customers’ needs of privacy and anti glare screen. ... 4m PCs already in business use, which could be covered by the 3M filter. 3M had to tap just about one percent of the office computers to reach this beak even figure. ... If the global presence of 3M was properly leveraged, this product could be sold worldwide. ... 3M had ample experience in successfully launching and diffusing new technologies. ... More importantly, 3M could also think of collaborating with PC vendors to sell the computer filter through their channels.
Approximate Word count = 1982
Approximate Pages = 7.9
(250 words per page double spaced)
|
|
|
|
|
|