SWOT ANALYSIS ON 3M
(Minnesota Mining and Manufacturing Company)
3M Company, formerly known as the Minnesota Mining and Manufacturing Company, is an American multinational conglomerate corporation based in Maplewood, Minnesota.
With over 76,000 employees, they produce over 55,000 products, including: adhesives, abrasives, laminates, passive, dental products, electronic materials, medical products electronic circuits and optical films. 3M has operations in more than 60 countries – 29 international companies with manufacturing operations, and 35 with laboratories.
3M are an innovative company, they devote part of the working week to coming up with new ideas and developing those ideas. They identify with their customers’ needs well and dominate the market space they occupy.
SWOT ANALYSIS ON 3M:
Strengths:
- Diversified businesses - industrial and transportation, healthcare, display and graphics, consumer and office, safety, security and protection services, and electro and communications.
- Strong research and development capability
- Diversified geographic presence
- Solid revenue & profit growth
- Established distribution channels,
- Brand loyalty,
- Well capitalized
Weaknesses:
- Low inventory turnover which impacts inventories and margins.
- Weaker than expected performance in key segments
- Not as nimble as smaller, more focused competitors
- Lack of synergy between business units
- Poor recruitment strategy,
- Poor organizational culture,
- Poor marketing strategy
Opportunities:
- Acquisitions in key operating areas
- Continued global expansion
- Rising healthcare spending in the us
- Security concerns with weaker economy in the us could present opportunities for 3m's security business
- Move into a new market
- A specific capital projects
Threats:
- Rising commodity and energy prices
- Exchange rates fluctuations
- Environmental regulations
- Emerging competitor
- Skills shortage
- Does not identify with customers