Running Head: 3M 1
4-1 Benchmark Study: 3M
MBA 580
November 7,2021
SNHU
3M 2
3M manages innovation by creating an organizational culture that nurtures, supports, and
facilitates innovation. The philosophy ‘the way we do things around here’ reflects in diverse
organizational elements such as case histories, anecdotes, etc. The organization believes in
creating the conditions that support innovation and creativity, which aids in the management of
innovation.
Within 3M, the innovation strategy and leadership style plays an instrumental role. The
innovation strategy encompasses two key elements – strong product development capabilities
and deep technological competence. The organization combines these elements, which help to
offer a consistent stream of innovative products along with product improvements. The leaders
adopt the transformational leadership style and serve as the flagbearer of innovation (Kozioł-
Nadolna, 2020). The previous CEOs of the company have played an instrumental role in
enacting and supporting an innovative culture in 3M.
3M enables the innovation process by developing a set of policies and structures that
provide guidance to the entire innovation process. These elements influence every stage of
innovation, starting from identifying minute signals to the implementation stage. The company
also focuses on establishing parallel routes which allow the adoption of innovation from close
market interactions, integrated technology research, or collaborative efforts (Kozioł-Nadolna,
2020).
Significant features or processes promoting innovation
In 3M, the management team makes sure to recognize and reward employees that
