Number of Words : 4493
Number of References : 10
This report is based on the following requirement –
Choose any MNC that you are familiar with. Present a report analyzing how this company has capitalized on innovation to succeed in this fast changing market condition.
Your report should cover the following:
1. What is the current situation of the company
2. Why is it necessary for them to employ innovation into the company
3. What type of innovation has been deployed in the company? What are the challenges when deployment of this innovation?
4. Evaluate how innovations have change its business and has lead it to today’s success.
This report analyses how 3M, a U.S based multinational firm has used innovation to succeed in the fast changing markets. At the beginning a situation analysis is conducted which reveals that there are many internal strengths of the company but the competition and global economic slowdown acts as a threat to the company. The report then explores the importance of innovation for 3M and finds that it is important because it acts as a competitive advantage for the firm and has helped it to reach this position. After this the report attempts to find the type of innovations deployed by 3M.<br />
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AKey : C3-18284