Page 8: Maintaining the momentum
While short-term success can arise from a one-off product or service, it is often just the entry ticket to a new market. Companies have to be able to repeat that first success, as there are always other firms ready to copy, catch up and overtake.
Innovation is at the heart of how 3M operates. The company has an entrepreneurial culture that encourages people's ingenuity managed by a structured development process.
During its first 100 years, 3M has received many accolades for innovation. The company is now focused on maintaining this momentum in increasingly tough markets to match its success of the last century.