For nine of the past 10 years, 3M has ranked in the top 10 of Fortune's annual survey of "America's Most Admired Corporations." In 1994 alone, major reporting about 3M included articles in Fortune and Business Week in the United States and 3M's success can be measured by the fact that one original share of stock has become 1,536 shares today with a value of $840,000.
Found in 1902, 3M has evolved from near failure to become one of the world's most innovative companies -- with 60,000 products that contribute to health and safety, productivity, and communication in more than 200 countries. It is said that one quarter of the world's population uses one or more 3M products every day. Technology helped lift 3M from near failure after an initial mining venture produced a single $20 sale of poor-quality abrasive material, and the company's first crude sandpaper began shedding its grit. The company's only technician solved this problem by identifying the source. The grit was shipped from Spain as ballast aboard a freighter, and olive oil leaked into it from casks broken open during a storm. From these early difficulties, 3M has evolved into a company with annual sales of more than $14 billion and operations in the United States and 61 other countries.
[...] In Japan alone, 3M's largest single-country market outside the United States, the company's sales top $ 1.4 billion annually, and it is a leader in a number of markets. On a global basis, 3M is the only U.S. company to be a leader in videotape, and it is the undisputed leader in computer diskettes, data cartridges and tapes. 3M stresses proper funding of science and technology to provide the new products that are the building blocks of its growth. The company spends 7 cents of every sales dollar on R&D more than twice the average of U.S. [...]
[...] 3M has and will continue to recognize and exercise its responsibilities to the community it serves Solve its own environment pollution and conservation problems Prevent pollution at the source wherever and whenever possible Develop products that will have a minimum effect on the environment Conserve natural resources through the use of reclamation and other appropriate methods Assure that facilities and products meet and sustain the regulations of the country and environmental agencies Assist wherever possible, government agencies and other official organizations engaged in Environmental activities. [...]
[...] SOCIETAL OBJECTIVE:-To be ethically and socially responsible to the need and challenges of the society while minimizing the negative impact of such demands upon the organization ORGANISATIONAL OBJECTIVE:-To recognize the role of HRM in bringing about organizational effectiveness FUNCTIONAL OBJECTIVE:-To maintain the department's contribution to a level appropriate to the organization needs PERSONAL OBJECTIVE:-To assist employees in achieving their personal goals at least insofar as their goals enhance the individual contribution to the organization. FUNCTION OF HUMAN RESOURCE/OFFICE SERVICE IN 3M INDIA LTD. [...]
[...] MARKETING DEPARTMENT Marketing in a challenging and exciting job harmonizing any problem relating to market which requires insight experience and analytical ability. For instance, a company has a major objective of increasing its sales. Increasing sales at the cost of profits cannot be held as a desirable objective. Again there are many ways in which sales can be increased e.g. by finding new customer or by increasing advertising and by providing the reduced price etc. The marketing manager must decide which strategy combination of method, he should adopted for increasing his sales profitability he must also keep in touch with the changing moods and desires of the consumers as well as his competitors activities. [...]
[...] Recently, a new “Production Incentive Scheme” has been introduced at the Atibele plant to help the employees cope with production pressures, however no such scheme has been introduced in the Electronic City plant When asked about management intervention to increase productivity on the shop floor, the operators sited Productivity Plus, QICR and the training programs to be the most beneficial schemes introduced by the management. Employees link their success to the companies success and so, to the question: what more can 3M do to make you proud?” the resounding answer was: “Manufacture more products here”. [...]
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