Innovation at 3m
Table of ContentsBackground of 3M Health Care Unit The “Economy” Line Benefits Flaws/Limitation Feasibility The “Skin doctor” line Benefits Flaws/Limitation Feasibility The Antimicrobial “Amour” Line Benefits Flaws/limitation Feasibility Infection containment (Evolution or Revolution) Openness to new business opportunities Strategic fit to company Effectiveness Evaluation
References Background of 3M Health Care UnitThe Medical-Surgical Market division, under the larger umbrella of 3M Health Care group is one the most important departments in 3M. In 1994 Health Care group contributes $2 billion USD in sales, which is 12.6% of the total revenue of 3M. In the domestic market (US), 3M has been the leading manufacturer of health-related products like surgical drapes for years. By the mid-1990s, surgical drapes are creating more than 100 million dollars revenue for the company. However, sales have been stagnating and timeframe for innovation has been increasing. This report expresses how Rita Shor, senior product specialist, presents the following recommendations to the company in order to improve its sales. The main assumption for this report is that the time period discussed is the current year of 3M in the 1990s. The “Economy” Line Manufacturing an “Economy” line of surgical drapes that is low cost, one-size fits-all and easy-to-dispense helps to gain an edge in the competitive market and expand into developing countries. 3M does it by leveraging on its pre-existing adhesives technology and fastening devices to manufacture the new line of surgical drapes. (Thomke, Stefan, & Nimgade, 2002)The reinvented surgical drapes is a form of incremental innovation. 3M refines and improves the existing surgical drape design and reduces the cost of production by using pre-existing technologies in the production process. The main component did not change and the product still serves the same purpose but enhancements were made to allow surgeons to focus on the wounded body parts. The changes in design can be implemented quickly and efficiently, reducing the cost of transition. (Thomke et al, 2002)