3M CORPORATION BUSINESS STRATEGY Essay Example | Topics and Well Written Essays - 1000 words

3M CORPORATION BUSINESS dodging - Essay ExampleThis structural change comprised of very fast changes in information and product technologies and the sphericisation of markets. This globalization had influenced the kind of leadership capabilities that were inevitable for the success of the organization. The two challenges faced by 3M that I cared to separate are First, it needed to update its model of corporate leadership, while at the same time cultivating the leadership talent that was required for the companys growth. Secondly, 3M needed to make its succession planning process more than effective so that the company could make sure the deployment of capable leaders on the organization. The head embossed for 3M became a major issue for the company.3M has had an emphasis on its efficiency as a result of which the question was raised on the companys creativity and pattern being neglected. 3M is the company whose identity is construct on innovating so this was a vital issue to consider for 3M. 3M had launched a couple of efficiency programs which were knowing to correct their work processes in order to make them defect less or at least minimize defects. Because of these kind of efficiency increasing initiatives, 3ms creativity was very easily neglected. As innovation was a necessity and something that brings about new challenges and changes the problem was of managing innovation along with efficiency. Factors involved FUTURE harvest-tide 3M needed to fight Competitive pressures in order to survive. The company needed to grow as nearly to deal with these issues. So the company needed to strengthen its leadership on its management side and as well as high potential leadership talent side. LEADERSHIP SUCCESSION The second challenge face by 3M was about its leadership team policy of the company is to do its promotions from within only so that employees who leave behind become future leaders would have a good understanding of 3Ms diversified blood li ne so they can be capable of being effective leaders. Therefore, it was quite an issue for the company to manage its succession planning and properly target its leadership suppuration process. 3M needed a companywide leadership indite on which it could base its assessment of leadership potential Strategic options The strategic options being explored are in different aspects of the business. One of these is the creation of new models to capture the value created for the customers For this it was required by 3M to have an up to date model of leadership so that the company would be able to guide the leadership development across the companys very strong succession planning process and diversified business. What 3M required to do, as figured by its senior executives, was to develop a global framework of leadership competencies which would be specific with the companys vision, values and business 3M had to create a model that would clearly throttle the companys desired competencies. T his model would then help the management of the company in exploitation behaviors and skills that would be in line with the companys corporate objectives. This became a major issue for 3M in the midst of the competitive pressures. This approach was to increase overall effectiveness. In the past, 3M has developed a leadership faculty model of this sort however current literature suggested that competencies needed to be updated because of the changing philosophies of the new global business environment. (S. Sharma, 2011) Strategic analysis tools The strategic analysis tools that can be used in this oddball are SWOT analysis, core competence analysis of 3M, Porters five forces and PEST analysis. The rationality why these tools can be used is because they will help the company in