Innovation: Lessons to be learned from 3M

Who is the most Innovative company?  Likely that most people would say Apple.  Well, do you know that there is a $30 BB firm that has been historically “fostering organic growth  by inventing entirely new, market changing products?”   Yes that firm would be 3M…..the inventor of Post-It pads and Scotch Brands.

How do they do this?  Read more at:      click here   

Their time tested principles include:

      – Dedicated R&D, long-term development and separate from concept to launch efforts

      – Apply and use Open Innovation; host ideation sessions with members of all departments

      – Foster a culture of innovation by allowing team members to take risks in a protected environment

      – Reward and encourage creativity

How many of you use some of these concepts?  You might just want to study more about 3M to apply to your need for Innovation.