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    PESTEL Analysis

    Innovation is one of the critical areas where businesses have to take a leap from traditional models to compete in an increasingly dynamic business environment. Innovation is the ability to create new ideas, products, and services that significantly differentiate the company from its competitors. 3M is a world-leading innovation-driven company that offers endless opportunities for its employees to discover, develop, and bring new ideas to life. A critical step in innovation is to identify and address pain points in existing solutions. As part of its transformation program

    Problem Statement of the Case Study

    When I was a college student, I studied a marketing textbook with the author’s chapter on innovation. I was amazed by how he explained innovation, and the chapter’s and its summary, in simple language. Later, I learned about 3M Corp A as a consumer goods manufacturer. Here is what the chapter on innovation, and the author’s brief summary and summary in one paragraph, explained in simpler language: 3M’s approach to innovation is that it doesn’t create something new; it finds a need that