Case study of 3M – a company whose commitment to innovation is such that it based its branding on themes like ‘Innovation – working for you.’
3M see strategic advantage in their being able to come up with a regular stream of product innovation, so much so that they have a policy that 50% of sales should come from products invented during the past 3 years. In practice this means that they are betting on their ability to bring new ideas to market not once or twice but consistently and across a range which now numbers around 60,000 products world-wide.