The Growth And Success Of 3M
3M is one of the largest and most successful multinational conglomerate corporations that have its headquarters in Maplewood in Minnesota. It is also known for producing over 55,000 products which include the passive fire protection, abrasives, adhesives, electric materials, car-care products, and medical products.
It was founded in 1902 by five people with a purpose of carrying out mining. The company underwent some serious challenges before it became successful. By 2016, the company had made total sales of over $30 billion.
The company has operations in over 65 countries and has employed over 90,000 people worldwide. One of the things that have made this company successful is diversification when it comes to manufacturing and selling products. It has remained to be one of the largest and oldest companies that are available today. Learn What is 3M here!
The company has an impressive track record of senior managers. These managers are the ones who have been responsible for its success through the years. One of these managers is the current Chairman, CEO, and President, Inge Thulin. Ever since he joined the top-level management in 2011, he has played a crucial role in improving and establishing the trading capabilities of the company. His experience in running businesses allowed him to take 3M to the next level.
Much of 3M's success can be traced back to the nature of its business. Unlike many businesses that venture in one line of production, 3M has managed to diversify and create more products in the market. You can trace it in almost any industry and it is conducting more research to see how it can reach more industries.
Every business has undergone a series of challenges and 3M is not exceptional. The company struggled during its first years and was sold off to Edgar Ober and Lucius Ordway. These gentlemen are the ones who managed to steer the company out of financial crisis together with others who joined the management.
The company is traded publicly and has its shares listed on major stock exchange markets. By 2016, the total assets of 3M were estimated to be over $32 billion.
3M is a classic example of the bricks and motor companies that have managed to overcome all the odds and established themselves. If you want more info and to learn all about 3M, you can visit this website, which has detailed information and history of the company. You will be able to know what is 3M in the current market.