Please read the attached case study and answer the following questions.
There are many examples of successful companies. To what extent is 3M justifiably highlighted as the ‘innovating machine’?
In the 3M case study, what is meant by the statement: ‘the message is more important than the figures’?
Discuss the merits and problems with the so-called ‘15 per cent rule’. Consider cost implications and a busy environment with deadlines to meet. To what extent is this realistic or mere rhetoric?
Encouraging product and brand managers to achieve 25 per cent of sales from recently introduced products would be welcomed by shareholders, but what happens if a successful business delivers profits without 25 per cent of sales from recently introduced products?
Some people may argue that 3M’s success is largely due to the significance given to science and technology and this is the main lesson for other firms. Discuss the merits of such a view and the extent to which this is the case.
Explain how the innovation dilemma affected 3M.