Founded By: 2 Railroad Oprators, a Physician, a meat mkt operator and an

Attorney

Henry S. Bryan
Hermon W. Cable
John Dwan
William A. McGonagle
Dr. J. Danley Budd

Mining biz faild aftr selin 1 ton of material no further purchasers cud b found
copnay stumbled along via personal accounts of the investors and were saved by
a new investor Louis Ordway who helpd d company shift 2 sandpaper production
in 1905 3M cud not afford to pay its president Edgar Ober a salary during his 1st
Eleven years

Strengths
• Diversified businesses - industrial and transportation, healthcare, display and
graphics, consumer and office, safety, security and protection services, and electro
and communications.
• Strong research and development capability
• Diversified geographic presence
• Solid revenue & profit growth

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Weaknesses
• Low inventory turnover which impacts inventories and margins
• Weaker than expected performance in key segments
• Not as nimble as smaller, more focused competitors
• Lack of synergy between business units

Opportunities
• Acquisitions in key operating areas
• Continued global expansion
• Rising healthcare spending in the US
 • Security concerns with weaker economy in the US could present opportunities for
3M's security business
• Markets similar to areas it is currently in, such as renewable energy, water
infrastructure, architecture, and lighting.

Threats
• Rising commodity and energy prices
• Exchange rates fluctuations
• Environmental regulations

Open innovation is a paradigm that assumes that firms can and should use
external ideas as well as internal ideas, and internal and external paths to
market, as the firms look to advance their technology