Answer the following case questions:
1. What is 3M’s strategy to spend on human capital, and what can it do to compare its metrics with competitors. (read McNerney’s Plan for 3M, pdf page 1-5)
2. The identification of the company’s internal strengths and weaknesses. (read Institutionalizing Innovation, pdf page 6-8)
Requirements: 3 pages with double space
Answer preview
Secondly, the CEO introduced the Six Sigma process, which had caused tremendous benefits to General Electric. The Six Sigma process is a statistically based and rigorous process that aims to improve the company’s quality control. The Six Sigma process has a set of different tools designed to prioritize customers and meet their needs, grading and selecting all projects based on their financial impact on the company and reducing variations in the different business activities and processes (Baranova, 2018). Six Sigma is also a tool that enables the CEO to optimize the 3M’s human capital by ensuring every task or process is broken down into measurable parts. Thirdly, the CEO introduced a performance evaluation system that aimed at monitoring the performance of every employee and ensuring their skills and expertise is optimally utilized. Finally, McNerney introduced an Acceleration Program that aimed at enhancing the company’s growth by providing more resources to the faster-growing markets by developing a tool known as 2x/3x.
[1039 Words]
