And I don't mean a few years, but a few decades in the past. That's one of the main reasons why things have been going the way they have been going. We need leadership that will push the company into the present and leave the old-school, failed models and processes behind. Too bad that's never going to happen.
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We used to assess leadership on new product growth (you know, Those products that make high margins cause they were innovative? Remember those? ). That stopped, and innovation stopped and me product flow stopped. Cutting costs is the easy way to make things look good. Building new profits is harder and current top leadership took the easy way out.
You mean there's something better than 1990s control logic????
You make money with a service or product. You don't make money by solely cutting costs. There's no new innovation because management sh--s on people who create waves. Get rid of the sh-t management that holds down smart minds. Careerism of this corrupt pyramid is the problem. It's really that simple.
The company that clung to Lotus Notes until the 2020s is stuck in the past? I’m deeply insulted.
It's astounding how business leaders can't get figured out the tie to R&D innovation to visions. When's the last time your business VP or div President charted out a vision on where they where going to take us? Now it's just been at least 3 yrs of COGS month after month. Deploy your lab and mfg to cost down programs instead of innovating. I say it's time to assess division VP on new product growth.
3M bowed down and was subservient to meaningless growth denying processes - name them. The allegiance to these processes made the company more and more internal. No one mentions the customers anymore. Look at EMD in Europe - they dont have a relationship with any European utility. 3M survives off of 50 - 70 year product platforms (tape, respirators, abrasives). We ki-led whatever genie that could make us grow.
Well thankfully we have u to provide us with this erudite opinion. Only now do we see the ill of our strategy. Phew, problem solved!!
3M is stuck in the present and hopefully can change the future. Take a close look at growth and profitability the last 50-100 years. One of the most successful US companies ever. Built with a strong culture of innovation, hiring the best and brightest, strong trust, great new products, best culture, gross margin dollars being reinvested into more new products that are even more successful. A company that employees rarely left - that is from 1960 to 2010. If you want to id the problems, look at the P&L starting with 2018 forward and the associated stock price. A disaster. Can you find a better example of a company that self destructed in less than 10 years after a successful 100 year run? 3M now fights for survival. What you are seeing today is not from the past, it is the present. If we could only go back to the culture, leadership, and team work of the past . . .