3m Technological Strategy

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Introduction Minnesota Mining and Manufacturing, also known as 3M, is one of the world's premier manufacturing companies. Through many years of innovation, 3M has established and maintained leadership in it's major markets, while devising consistent profit and dividend growth. 3M is one of 30 companies in the Dow Jones Industrial Average, which means it is one of the top 30 most traded stocks and is used to help comprise a guide for investors. (1) 3M is a highly diversified manufacturer whose creations include masking tape, Scotch Magic Tape, Scotchguard Fabric Protector and Post-it Notes. MMM also markets computer based projection, medical devices, reflective materials, specialty chemicals and major automotive parts.(2) Many of 3Ms products are considered market leaders in their respective markets.(3) 3M attributes its success to their innovative solutions to their customers' problems.(4) They serve an extremely diverse group of markets and are able to do this because they think of markets as customers, and listen to them. At 3M, we are committed to satisfying our customers with superior quality and value; providing investors with an attractive return through sustained, high quality growth; respecting our social and physical environment; and being a company of which employees are proud. -L. D. DeSimone, former Chairman of the Board and Chief Executive Officer, 3M (5) Corporate History 3M, was founded in 1902 by five businessmen, in a small town in Minnesota called Two Harbors. The business was built on the idea of mining a mineral deposit that was used as an abrasive. The mining of this mineral deposit was not a very lucrative business and the company soon relocated to the nearby town of Duluth, where it focused on sandpaper products.(6) In 1910 the company moved to St. Paul, Minnesota with the financial help of Lucius Ordway. The company struggled for the

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