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Organizational goals hold the key to success as they determine the direction a company should take to achieve its stated mission (Parker, 2003). This principle is clearly illustrated in the case of 3M, a $18 billion diversified technology company that markets innovative products and services to the transportation; consumer and office; display and graphics; electro and communications; health care; industrial; safety, security and protection services industries. 3M owes its success primarily due to the fact that its organizational goals are in total alignment with a well conceived mission that incorporates the company's core ideology and purpose. Indeed, this is reflected in 3M's description of itself as "a global technology company that delivers innovative solutions to life's everyday puzzles." It is important to note that 3M has also built its reputation on the core values of trust, integrity, and ethical business practices (3M, 2005)
3M's organizational goals, which are derived from the company's core ideology and purpose are innovative products; extension of global reach; powerful brands; strong relationships with customers; and ever increasing productivity (2003 Annual Report, p. 7). These goals are also effective because the company takes care to spell these out in quantifiable and time-specific terms (Parker, 2003). For example, in the area of innovation, 3M is known to have specified that 25% of its sales must come from products that are less than 5 years old. This goal is also backed by an operational strategy, namely, the "15% rule," which states that 3M employees can spend up to 15% of their time working on innovative ideas of their own choosing (Management First). Similarly, in the area of increasing productivity, 3M uses Six Sigma initiatives to set and achieve measurable production and cost reducing targets (2003 Annual Report, p. 17).
Thus, it is evident that 3M is a company that is a valuable organizational case study in effective goal setting that leads to business success and a company meeting its mission.
References
3M. (2005). Our Company. 3M Web site. Retrieved February 26, 2005 from http://solutions.3m.com/wps/portal/_s.155/113894/_l/en_US/
2003 Annual Report. (2003). 3M 2003 Annual Report. 3M Web site. Retrieved February 26,
2005 from http://media.corporate-ir.net/media_files/NYS/MMM/reports/2003ar.pdf
Management First. Learning Curve: Strategies for Innovation. Management First Web site.
Retrieved February 26, 2005 from http://www.managementfirst.com/innovation/curves/innovation_strategy.htm
Parker, W. (2003). Strategic Planning 101 -- Goal Setting. The WorkStar Library Web Site.
Retrieved February 26, 2005 from http://workstar.net/library/goals.htm
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