Innovation and New Product Development Case Study

Innovating 3M's Innovations

OR

Abstract:
3M, a globally admired company that was consistently ranked in the list of top innovators for several years, has seen a decline in the number of breakthrough products that characterised the company. 3M then brought in James W. McNerney, the first outsider to head the company. McNerney advocated a more structured approach to innovation and brought changes that became a matter of speculation.

Pedagogical Objectives:

• To discuss the essence of 3M's strengths in innovation and the corporate culture that encouraged new ideas
• To discuss whether McNerney's new approach to innovation would succeed or stifle the innovation that has been the cornerstone of the company since its inception.

Keywords : 3M innovations; Post-it-notes; Minnesota mining and manufacturing; 3M restructuring; James McNerney restructuring 3M; Six sigma; Global innovator; Innovation Management Case Study; Cost cutting strategies at 3M; Organisational restructuring; Leadership development at 3M; 3M 30% rule; Grant genesis at 3M; Corporate culture for innovation; Most admired company