3M 2012 Annual Report Download - page 3

Download and view the complete annual report

Please find page 3 of the 2012 3M annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 132

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132

Our vision captures well the essence of 3M: technology, products and innovation. It
describes what we do for our customers every day: advance, enhance and improve.
And, it sets a stretch goal for all of us: we have the capability to reach every company,
every home and every life all around the world.
From a performance standpoint, if we can make good progress toward realizing our
vision, we can look forward to many more good quarters and many more years of
increasing value for our shareholders.
The vision has inspired and excited our employees, and it was especially encouraging
to see how our customers have responded. Whenever I meet with customers I make
a special point to share our vision. Not only does it resonate very well with them, it
generates even more interest in our technologies and products.
Concurrent with the vision, we introduced six strategies to propel the company forward.
While top-down at launch, the strategies were developed and enhanced through
a process involving literally hundreds of 3M leaders. In less than six months from
introduction, our people transformed the strategies from concept into clarity, credibility
and confidence.
– Expand Relevance to our Customers and our Presence in the Marketplace
– Gain Profitable Market Share and Accelerate Market Penetration Everywhere
– Invest in Innovation: Invigorate Existing Market Opportunities and Focus on
Emerging Megatrends
– Intensify Capabilities to Achieve Regional Self-Sufficiency
– Build High Performing and Diverse Global Talent
– Drive Consistent Superior Levels of Operational Excellence
The strategies formed the basis of a great deal of 2012 progress across the company.
For example, we aligned the organization to become more relevant and responsive
to our customers. We recommitted the company to increased funding of innovation.
We improved our ability to drive growth through new capabilities in marketing, sales,
and e-platforms. We strengthened our operational excellence through more focus on
1
3M Technology Advancing Every Company
3M Products Enhancing Every Home
3M Innovation Improving Every Life