3m Managing Corporate Entrepreneurship

3M Optical Systems: Managing Corporate Entrepreneurship

Company History and Background

3M represents the three M's from Minnesota Mining and Manufacturing. It was founded in 1902 in the state of Minnesota by five businessmen. Their intention was to mine mineral deposits for grinding wheel abrasives but the minerals they found were not of significant commercial value. The company moved to Duluth where they began research and development and production of sandpaper product from abrasive materials.

After a difficult and slow start in the early 1920s 3M developed the world's first waterproof, this product could be used with water or oil to reduce dust and decrease friction. They also went on to invent masking tape from testing abrasive samples at the body shop. When painters ran into problems whilst marking car parts, the idea of a masking tape developed. The development of the masking tape led to innovation and diversification into a whole range of adhesive tape products whilst launching them into the consumer market. Scotch cellophane tape was invented in 1930 and soon many practical uses were discovered, it went on to become the company's most successful consumer product. In 1937 3M's vice president established a lab that focused research on long term technologies and this initiative gave rise to reflective materials. This lead to Scotchlite reflective and it proved to be very useful in the visual improvement of highway signs and markings. The reflective material innovation gave rise to 3M’s involvement in graphic arts, developing products like magnetic sound recording tape.

In the 1950s 3M introduced Thermo-fax copying process, Scotchgard fabric protector for upholstery, video tape and the likes of Scotch-Brite cleaning pads. 3M even ventured successfully into decorative ribbon and gift wrap markets. The 1960s brought innovation into dry-silver microfilm, photographic products and overhead projector systems. 1970s and 1980s saw products launched...