3M's Philosophy

"to sustain growth, we need innovation. To sustain innovation, we need the best people. To sustain our people, we need to constantly challenge them"...and be challenged by them"... with the best practices, processes and ideas to help serve our customers"....focus on the strategic and competitive advantages of innovation in our world-wide markets".....using innovation to help gain and maintain leadership"...our success is based on the knowledge and expertise of our employees and business partners, working together to create solutions to our customers problems"....stimulating future growth depends on our ability to leverage all of our competencies on a global scale to take advantage of new opportunities"...the world changes too fast to rest on yesterday's success"...this makes co-operative relationships with suppliers and customers even more important for business success today."

D. DeSimone, Chairman & CEO, 3M as quoted by Fortune, 1997

Jack Welch, ex-CEO, General Electric

Jack Welch (when CEO of GE) states that there are 6 essential guidelines for transforming an organisation

Face reality as it is, not as it was or you wish it were

Change before you have to

If you don't have a competitive advantage, don't compete

Don't manage - lead

Be candid with everyone

Control your destiny, or somebody else will

NBDuring Jack Welch's time as CEO of GE the market value of GE rose from $14 billion in 1981 to $400 billion when he retired 20 years later

(sources: Business Book Summary, 1993; Marc Gunther, 2004)


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