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Word Count: 500
Gold Minds From sandpaper to bioelectronic ears 3M has come a long way 3M is a prime example of how employees can turn a dying business into a multibillion dollar company 3M encourages employees to create new products and explore new ideas This management tactic allows 3M to produce over 60000 new products each year successfully keeping up with our constantly changing fast-paced economy In the last 99 years it has been in business 3M has become a well known as a worldwide business Employing more than 90000 employees it made 19 billion in sales in the year 2000 52 of which were made outside the USA It has seventeen technology centers worldwide with manufacturing sites in thirty-nine countries 3M makes the difficulty of globalization seem like a piece of chocolate cake 3Ms success is based on its 90000 intrapreneurs It recognized that employees were not merely simple workers but talented entrepreneurs who needed only to be encouraged and appreciated A business can keep its entrepreneurial spirit alive by first and foremost encouraging its employees to be inovative It should also provide incentives like money raises vacations promotions etc Businesses need to show appreciation and make its employees feel like they are valuable assets to the company Employees are a companys gold mine They are a companys most important stakeholders They can make or break a business A business needs only to please its employees and in turn these gold minds will gleam and become great entrepreneurs Though entrepreneurship is valuable can a too diverse production cause a stumbling block for a company If a business does not have the capital to support multiple products it is not encourage able Yet it should not put a total halt on new ideas and products but create closely related products instead to begin with 3M did not jump from sandpaper manufacturing to creating programmable disks They started off with regular sandpaper then created
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