3M's top leadership and BOD's commitment to their strategy, initiatives, and people has suffered greatly since about 2015. The company has fallen on hard times financially and has replaced much of its highly talented leadership with outsiders who do not understand how to make the company successful. They have come to rely on consultants to come in and sell them a bill of goods on what needs to be done only to discover that the recommendations are infeasible to actually carry out within the time and budget allocated. Instead of retooling and working it out, leadership rather conducts yet another reorganization and lays off thousands of good and talented people. They've lost the reigns and do not know how to operate a large, diversified company whose strong suit of product and technology innnovations has been lost. Very sad to see a previously great company falter as 3M has.
Advice to Management
Return to your roots of innovative product development to get that pipeline opened back up, promote your top talent into important roles and rely on them to get the company back on course, stop hiring consulting firms that misguide your decision making, develop your strategic plans and stick to them. Work through the hard things instead of abandoning them and stop with the constant reorganizations.