3M CO (Minnesota Mining and Manufacturing) is a company that manufactures all over the world, introducing new technologies and marketing a wide scope of products. It is present in the markets of healthcare, industrial markets, markets of display and graphics, consumer and office markets, safety, security and protection services, electronics, telecommunications and electrical and transportation. I will make a SWOT analysis of the company, discussing its major strengths, weaknesses, opportunities and threats,
According to Reuters, one of the main strengths of 3M is significant intercompany cooperation in research, manufacturing and marketing of products. Enterprise uses numerous distribution channels to sell its products. They are sold directly to its users, and also through numerous wholesalers, retailers, jobbers, distributors and dealers worldwide. 3M owns 197 sales offices in many countries of the world, 12 of which are in the United States and 185 internationally.
The 3M brands are the important strength of the company, as they are well-known and trusted all over the world.
The company produces great number of products in various areas, such as technology, office supplies, automotive, medical, and food services. Most of the brands are market leaders.
Potential for revenue growth is an important strength of 3M. Looking at the company's income statement we see that the company has showed strong achievements in increasing the sales volume with all seven business segments, stimulating positive local-currency growth globally. Operating income is one of the most important indicators of company's business performance. 3M has continually been improving its activity for the past two years, and eventually its operation income reached the rate of 23.7% of sales in the second quarter of 2004. Six out of 3M's seven business segments showed better operating income margins in the second quarter of 2004 compared to the same period last year.
Also, the company...