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3M company was founded in 1902 by five industrious and tenacious northern Minnesota businessmen who had diversified occupations and they include Henry S. Bryan, Hermon W. Cable, John Dwan, William A. McGonagle, and Dr. J. Danley Budd. The company started with its main activity being mining minerals for grinding wheel abrasives, however, this did not work as expected as the value of the deposit was low and they changed their business into a lucrative venture.
The company moved to the manufacture of sandpapers after the mining failing. The company struggled to ensure quality production and also the establishment of the supply chain, and in 1910 it attracted more investors including Lucius Ordway. The production in the company proceeded successfully and it was in 1916 that the company paid out its dividend of 6 cents per share for the first time.
The company’s success has been enhanced by a series of inventions that made its products outstanding in the market, where it started with the first waterproof sandpaper that had an advantage over the existing sandpapers by then which was characterized by reduced airborne dust during the automobile manufacturing in 1920. The second major invention also arose in 1925, where a young lab assistant, Richard G. drew invented a masking tape which was a step to diversification and the first among the many Scorch pressure sensitive tapes.
The company in 1940, diverted to the manufacture of defense materials for World war II, which included the manufacture of Scotch lite Reflective Sheeting for highway markings, magnetic sound recording tapes, filament tape, and also the participation in graphic arts with offset printing plates. In the 1950s the company introduced the copying process, the fabric protector. videotape, cleaning pads, and several electro-mechanical products which all were induced to meet the changes in the societal needs by then. 3M in 1960’s it introduced the Dry-silver microfilm and also other photographic products that included carbonless papers, overhead projection systems, and also the health products like medicine and also dental products.
In the 1970s and 1980’s the company had moved to the manufacture of pharmaceuticals, radiology, and also energy control products, wherein 1980 the 3M had introduced a Post-it Notes which had a great impact on communication and the behaviors of the organization. In the 1990s the 3M still proceeded with innovations and during this time it came up with the immune response modifier pharmaceutical films that were meant for electronic displays, and flexible circuits that are used in inkjet printers, cell phones, and also in a wide range of electronic devices. By the year 2004, the 3M company sales had hit $ 20 billion worldwide and the most recent innovations include the Post-it Super Sticky Notes, Scorch transparent duct Tape, optical films for LCD televisions and also the Scortch-Brite Cleaning products.
3M company is fundamentally a science-based company that produces a wide range of imaginative products, where some of these products make the company perceived as being the leader in a score of markets. The products of the 3M company include healthcare products and highway safety facilities, office products, and also optical films for LCD displays. The competitive edge of the company is ensured by the company’s ability to apply its technologies in an endless array to meet the societal needs, that is it uses the technology the is at hand to meet the continual changes in the societal needs, hence a means of ensuring that the company does not lag behind and keeping it relevant to the market situation.
Continuous innovations and inventions have been enabling the company to overcome obsolesce from time to time since the establishment of the company in the early 1990s. The company’s competitiveness is also reinforced by the values of the company and they include acting with uncompromising honesty and integrity in everything that the company does, struggle to meet the customers’ needs with innovative technology which in turn ensures superior quality, value, and services, provide the company’s investors with attractive returns on their stock holding which in turn attracts more investors, and value and develop the company’s employees’ diverse talents which in turn improves their efficiency in performing their roles.
The 3M company has an international perspective in the sense that it’s operating in more than 60 countries, and having its products sold in over 200 countries in the world. The company’s worldwide sales for the year 2007 were worth $ 24.5Million, where out of this 63% were international sales which are accounted by sales worth $ 15.5 million during the year. Given its worldwide operation, the company has more than 75, 000 employees worldwide, in which most of the employees work within their country of origin, implying that the company is focused on improving the community welfare in places where its branches are located worldwide, where a number of less 300 3M employees worldwide are foreign service employees that are not residing in their home countries, thus a worldwide welfare promoter.
The company’s ownership is spread through the company’s stockholders and it’s among the stock investors that the board of directors is identified who is responsible for determining the management structure of the company by them hiring the relevant experts to run the everyday operations of the company in ensuring effectiveness and efficiency. The strategies are designed by the directors in co-operation with the top managers, where the junior managers are expected to execute the strategies for the prosperity of the company.
There are a number of job openings that are currently available within the 3M company but categorized according to departments and locations within the company. For instance, in the sales department, there are a number of job opportunities that are currently open and they include; Strategic accounts manager, southern regional solutions strategist: Technology, south Carolina sales representative, sales representative industrial division, retail business analyst, regional sales manager, and sales account among other openings.
The ethical dilemma that is facing the company is the pollution effect of its products on the environment after they have been used. The company is intending to use an amount between $ 50 to $56 million to clean sites in the Twin Cities’ eastern part, where the chemicals associated with its products have polluted. Thus this is likely to limit the company’s expansion as it will be forced to relate its rate of expansion to the environmental pollution caused by its products, thus an ethical dilemma.
The co-operate culture of the 3M company is that it is dynamic and normally moves according to the market situations as they vary from time to time, on them meeting the changes in demand across various sectors with a diversified application of technology to various industries.
The two main sources for the company funding are from the retained profits and also the funding from stock holdings for the company.
Reference
The 3M Official Website, 2008, History. Web.
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