3M 2010 Annual Report Download - page 5

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Driven to Innovate 3
linking them in unusual and unexpected ways. Mix
that capability in with the vision, energy, curiosity and
optimism of our people, then add our global business
and manufacturing footprint and it becomes an almost
unbeatable combination. There are still many great
engineering and manufacturing companies around
in the United States, and even a few good chemical
companies, but there really is nothing anywhere quite
like 3M. We are a truly unique company.
Over the last 100 years, we’ve learned how to compete
with our big global competitors – great iconic companies
with household names, for whom we have immense
respect. And we’ve learned how to win many of those
battles. But for the future, the competition that is most
dangerous is local competition, whether it be in Brazil,
China, India, Hungary or Indonesia. To win the battle
against them, you have to be like them in as many
respects as you can be. You have to develop locally,
manufacture locally, hire locally, purchase locally and
lead these entities locally. Only then do you have a
chance to win against these new and potent forces.
I firmly believe that there is no other company better
prepared to compete in this newly emerging world. Our
global strength is unparalleled, our culture is one of
collaboration and cooperation, and our people are hugely
imaginative and creative. I thank all of them for their
wonderful spirit and their commitment to 3M’s growth
and success. I have every confidence that their creative
work will continue to create increased value for our
shareholders.
The best of 3M’s culture has been reestablished while
appropriately modernizing it where we needed to. Credit
is due to our engineers, scientists, supervisors, managers
and executives for this great achievement.
We have rebuilt our great company, reinvented it for
modern times in order to provide the people, product
and technology platforms necessary for success over
the next 25 years. As a company, while we know pretty
clearly where we are going, we must always remember
who we are and where we came from.
George W. Buckley
Chairman of the Board, President and Chief Executive Officer
February 16, 2011