3M is a multinational company, also known as Minnesota Mining and Manufacturing Company (1902-2002). It is a conglomerate multinational business company established in 1902. This multinational company is currently operating the sectors of industry, worker safety, US health care, and consumer goods.
They have a wide area of business categories.
The Founders and their legacy
Five businessmen founded the century-earning company of the world. The founders of the company are Danley Budd, William McGonagle, John Dwan, Hermon Cable, and Henry Bryan. It was first founded in Two Harbors, Minnesota in 1902.
At first, the goal was to mine Corundum but that fails because the mineral holdings were anorthosite, which had no commercial value. Then they started making business with new ideas.
3M is a company with a view of industrial and consumer markets development. They invest in the research and development of many new products. They are known for their culture of innovation.
The industrial achievement of 3M is unbelievable! It has grown its sections in every sphere of business. They are currently making their deals in
- Commercial solutions
- Consumer markets
- Design and constructions
- Safety and transportation.
These wide ranges of business industries are earning their profit to invest them in the technology sector and for the development of consumer goods.
From automotive to transportation, where its presence is absent! In each sector, it's making its value higher.
Headquarter of 3M
The company is running its offices from the headquarter of Maplewood, Minnesota, United States. Globally 78 countries with 149 office locations the 3M is running its business. The locations of these corporate offices are available on the official site of the company.
There are many conglomerate companies in the world right now. They all are working with vast sectors of brands, products, and services of their own. The popular conglomerate companies, like, corning, general electronics, Honeywell, Emerson, Johnson and Johnson, the Walt Disney Company, etc. are the direct competitors of 3M.
Still, the company is increasing its profit margin at a noticeable rate.
By the end of 2020, the company 3M increased its percentage of share by 0.15%. And the final revenue is $32.184 billion according to the annual financial statement of the company. This shows that the company is stepping up with every possible chance it can grab.
From the very beginning, 3M is investing at a larger quantity in the sector of technological research. All the technology-based workshops and research under 3M is unique and they are trying every day to invent something new that’ll help with peoples' lifestyle improvement.
Products and Patents
Over 60,000 products are produced under several brands for 3M Company, including adhesive, abrasive, laminates, passive fire protection, personal protective types of equipment, Window films, paint protection films, dental and orthodontic products, electrical and electronic materials, medical products, car care products, electronic circuits, software, and optical films.
The company annually acquires approximately 3,000 patents. 3M obtained its first patent in 1924. It has surpassed the number of 118,000 by the year 2016.
3M Company owns 29 brands altogether. Some of them are,
3M Aqua-Pure Brand
3M Attest Brand
3M Avagard Brand
3M Bair Hugger Brand
3M Bondo Brand
3M Clarity Brand
3M Clinpro Brand
3M Cubitron II Brand
3M DBI-SALA Brand
3M DI-NOC Brand
3M E-A-R Brand
3M Filtek Brand and many more.
With over 60,000 products, the mother company 3M is doing its business with a greater value. The annual earning of the company hits a billion.
These brands with a variety of products
In the USA, 3M operates 80 manufacturing facilities in 29 states. The company’s general offices and corporate research laboratories are in St. Paul, Minnesota, in the United States of America. 125 manufacturing and converting facilities are under 3M in 37 countries outside the US.
Position in conglomerates companies
3M is in third place among other giant conglomerate companies as of May 2020 ranking. The company’s innovating and investing skills make them one of the fast-growing multinational Companies.
As I mentioned earlier, the sectors 3M currently working on, are making the best of their profit with a high margin rate. This company first came with the idea of mining. Then, gradually diverted into making other sectors of business their own.
At 3M, customers are the heart of everything they do. With a positive impression and business strategy with strong ethical culture, the company gets their confidence to grow business in anywhere the world.
Their employees know that they don’t need to compromise with ethics to do business.
3M related post:
3M Playing role in Corona like situations
3M is proudly leading the fight against COVID-19 and supporting the mass people to return to life. Collaborating with governments of the countries, other giant business corporates, and companies, 3M is trying to make solutions for the people who are suffering from economical and environmental issues.
The N95 musk was first developed by 3M that can filter several viral and contaminated particles. In this COVID-19 the N95 played its part.
The activity of 3M is praiseworthy. 3M is working deeply in scientific exploration, problem-solving, and helping the world around you to make it better and sustainable. The company is trying to create a better world of technology available for everyone.
From the early ‘19s, they are organizing and doing programs like 3P. 3P works for the prevention of pollution
1. What does 3M do?
Ans. 3M is a multinational company working with innovating and technological improvements.
2. Do they available in underdeveloped countries?
Ans. There are facilities in underdeveloped countries administrated by 3M.
3. What are the strategies of 3M?
Ans. 3M is working with 3 strategies to make a better impact on the world. They are
1. Science for circular (Design solutions)
2. Science for climate
3. Science for communication.
4. Does it participate in charity?
Ans. 3M does the job of improving lives and sustainability, not making the charity.
Last Updated on June 22, 2022 by Tufail