competitiveness advance our market leadership across the globe and build an

Competitiveness advance our market leadership across

This preview shows page 9 - 11 out of 13 pages.

competitiveness, advance our market leadership across the globe, and build an even stronger 3M for the future,” he said. The CEO also described several initiatives launched recently to further accelerate 3M's growth. “At the top of my agenda is company wide implementation of the Six Sigma approach to process improvement,” he said. Other initiatives include leveraging 3M's global size to drive down costs of raw materials and other supplies, reducing indirect costs, increasing returns on electronic-commerce investments and accelerating the pace of new product commercialization. Noting that 3M will continue to invest in research and development, McNerney described the company's participation in dynamic markets, such as touch screens and light management products for electronic displays, and a new class of proprietary immune response modifier pharmaceuticals. He said international market expansion also remains a key growth driver.
Image of page 9
Copyright ©2007 Professor Arthur V. Hill and Kevin LindermanPage 10McNerney thanked 3M employees for their ongoing dedication and contribution. “Around the world, our people are creating opportunities, delivering innovation, accelerating growth and working hard to fully realize this company's tremendous potential,” he said. At the meeting, 3M stockholders elected the following three directors to the company's Board of Directors, for terms ending in 2004: Edward A. Brennan, retired chairman of the board, president and chief executive officer, Sears, Roebuck and Co. W. James McNerney, Jr., chairman of the board and chief executive officer, 3M. Kevin W. Sharer, chairman of the board and chief executive officer, Amgen, Inc. Shareholders also ratified the appointment of PricewaterhouseCoopers LLP as 3M's independent auditors for 2001 and rejected a stockholder proposal regarding the board member nominee process. Proponents prior to the meeting voluntarily withdrew two additional stockholder proposals regarding executive compensation. Source: 3M Public Relations, 3M Center, Building 225-01-S-15, St. Paul, MN 55144-1000, Phone: (651) 733- 8805. Appendix 4. Six Sigma Puts 3M on Fast Forward 3M Stemwinder , October 30-November 5, Vol. 15, No. 30, 2001. Process improvement isn’t new to 3M. In fact, 3Mers have been good at it for a long time. Then why is Six Sigma – a process improvement methodology being implemented across the entire company – starting to make such a difference? To learn more about this new approach, the 3M Stemwinder editorial team met with Brad Sauer, executive director, Six Sigma. Sauer and his team are responsible for providing Six Sigma strategies, tools, training and other related support to 3M business units worldwide. In this interview, Sauer discusses the progress that’s been made since Six Sigma was introduced last February, as well as Six Sigma’s long-term potential.
Image of page 10
Image of page 11

You've reached the end of your free preview.

Want to read all 13 pages?

  • Fall '13

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture