Essay on Analysis Of 3m 's Board Of Directors

Essay on Analysis Of 3m 's Board Of Directors

Length: 1229 words (3.5 double-spaced pages)

Rating: Better Essays

Open Document

Essay Preview

Of all the pathways to growth, investing in our people is most important”. 3M considers, if their employees will grow that will unlock their energy and activities which are important for customers, this lead to company growth. Apparently, 3M 's first chairman of the board, William L. McKnight, was a unique leader and 3M has had remarkable leaders at all levels of the company ever since.
3M corporate governance rules describe how to organize business on a daily basis, which conducts permanent growth. These principles represent a framework that describes the roles, rights and responsibilities at different organizational levels. 3M’s Board of Directors supervises the Chief Executive Officer and Senior Management, and insures that company’s procedures and controls containing management 's’ activities in running the company on ethical cultures on a day-to-day basis (Appendix) .
3M Board of Directors has elaborated some guidelines, which in relation with the Certificate of Incorporation, Bylaws, and Board Committee charters, compose the framework for 3M governance and have the following structure:
The Board of Directors - 3M Company is lead under the supervision of the Board of Directors. The Board chooses the Chairman, and Chief Executive Officer, and delegates to the CEO the authority and responsibility to manage the Company’s operations. The Board of Directors represents the shareholders, advises and consults the CEO, and senior management, and supervises management accomplishments on behalf of shareholders. The Board also supervises the company’s strategic and business planning process and revises and evaluates management’s tactics to applying significant risks of company.
Management - The CEO a...

... middle of paper ...

...e advantage.
3M uses the following IT to provide advantages for their business and improve customers service:
3M website ( different languages, where customers can answer their own questions or seek answers from others.
3M uses email as a way to improve customer service and more quickly respond to certain needs or help requests.
3M uses live chat to communicate with their clients and provide answers to their questions.
3M also delivers for their customer relations through social media: Twitter, Linkedin, YouTube, Facebook and Instagram.
3M is available anywhere, anytime by utilizing all forms of communication, including email, forms, multiple social networks, chat boxes, 24-hour customer service. Accordingly, 3M offers customers the option to contact them whenever they want and however they want which offers a freedom that customers appreciate.

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

Essay on Case Analysis : Agency Theory

- Introduction Agency theory means that the agent who are the directors of the company is under contract to act on best interest of the principals who are the shareholders. Agency problem arises due to the fact that there is a breach of trust where the directors are acting on their own self interest instead of shareholders’. In regards to the problems, there is also an information of asymmetry, which would described as the agents would have more information than the principals. Executive Summary Agency Problems Reportedly there are numerous corporate scandals throughout the years, for example Robert Maxwell (1991), Barings (1995), Enron (2001), Lehman Brothers (2006)....   [tags: Corporate governance, Board of directors]

Better Essays
775 words (2.2 pages)

Analysis Of Smithville Area Aging Agency Essay examples

- Smithville Area Aging Agency is in a state of emergency. The agency has refused to deliver services to Gay/Lesbian/Bisexual/Transgender people, and now there’s a pending legal class action suit filed against the agency, its staff and its Board of Directors. Its federal and state funding has been frozen and the agency is force to close since it solely relied on funding from federal and state to operate its services. The executive board consist of mostly people who have some type of affiliation with church, but Smithville Area Aging Agency is not a faith-based organization, so when the agency refuse services to Gay/Lesbian/Bisexual/Transgender people, the organization discriminated against the...   [tags: Management, Board of directors]

Better Essays
1514 words (4.3 pages)

Analysis Of Jb Hi Fi 's Corporate Governance Essay

- 1. Introduction The Australian Stock Exchange’s (ASX) Corporate Governance Council (2014) defines corporate governance as “A framework of rules, relationships, systems and processes within and by which authority is exercised and controlled within corporations”. One goal of corporate governance is for the board members to increase shareholder value (Tricker 2015). In order to achieve this, it is important that the board act appropriately and justly so that the best interest of investors are protected....   [tags: Corporate governance, Board of directors]

Better Essays
1175 words (3.4 pages)

Analysis Of Askari Bank 's Organizational Design Essay

- ORGANIZING Askari Bank’s Organizational Design is bureaucratic because it is principally owned by the army and its working methods are directed by the board members of the bank. COMMENTS ON ASKARI BANK’S STRUCTURE Askari Bank 's structure is straightforward yet tall. The organization is predominant in this structure as it is owned by the armed force. All the power lies with the Board of Directors who dwell at the highest point of the structure. The level of formalization and work specialization is high....   [tags: Management, Bank, Board of directors]

Better Essays
1182 words (3.4 pages)

Analysis On Lincoln Electric Company Essay

- SUMMARY OF THE ANALYSIS ON LINCOLN ELECTRIC’S ORGANIZATIONAL CULTURE (BASED ON THE CASES STUDY PAPER: THE LINCOLN ELECTRIC COMPANY) BY AFOLABI, D.A Introduction According to Carpenter, Bauer, and Erdogan (2010), Organizational Culture refers to a system of shared assumptions, values and beliefs that show people what is appropriate and inappropriate behaviour. Because of its strong impact, an organizational culture can influence for success or failure, especially because of the strong link it has with a company’s performances (revenues, sales volume, market shares and stocks)....   [tags: Management, Employment, Board of directors]

Better Essays
1132 words (3.2 pages)

CEO and Board of Directors: Annual Business Plans for a Company Essay example

- ... He/she assess performance of the company beside equally the annual budget and company’s long-term strategy. He/she also engage the issues of board finance, company audit and investment committees issues. The stakeholders in the company, such as shareholder, analysts, employees, management, creditors, supplier and other members are relies on the accurate and timeliness of the information which is provided by CFO financial report. Treasury Duties CFO one of the mean duties is to control the financial condition of the company because this is his/her responsibility....   [tags: financial position, financial conditions]

Better Essays
517 words (1.5 pages)

A Speech On Board Members

- Board Members Dan Braden, Jack Connolly, Lois Holczer, Beckett Horner, Present: Robert Lowe, Frank Noonan, Debra Swanson, Travis Walker, Frank Watkins, and Dave Wilson Via Phone: Barrie Damson Guests Present: Ashley Braden-Knowles, Martin County Guild Vice President; Father Yves Geffrard, and Sheriff Ken Mascara Staff Present: Caroline Beale, Jayna D’Arcangelo, Pam LaFountain, Putnam Moreman, and Paul Sexton 1. Call To Order • The Governing Board Chairman called the meeting to order at 8:30 a.m....   [tags: Board of directors, Corporate governance]

Better Essays
1179 words (3.4 pages)

Essay about Female Representation on the Board of Directors

- Hillman, Shropshire and Cannella (2007) seeks to answer the question of why do some organizations have women on their board of directors while others do not. This review will seek to identify the objective of the study; basic assumptions and theories deployed; identify the hypothesis and research methodologies used in testing the assumptions, and discuss the results before reaching a conclusion. The research question is appropriate because it focused on the characteristics organisations have that are likely pointers to the level of female representation on its board....   [tags: women's studies, business]

Free Essays
1018 words (2.9 pages)

Summary : Mansfield School Board Essay

- Summary: The Mansfield School board meets the second Tuesday of each month; I attended the September 13 meeting. Meetings take place each month in the high school library, the tables and chairs are rearranged specifically for these meeting. The board sits at a series of long tables arranged in a U shape. The superintendent, Nate Moore, and the board secretary, Derrick Neal, sat on the left side of the U, net to the secretary sat the board president, Vicky Box, followed by the rest of the board members....   [tags: Management, High school, Board of directors]

Better Essays
1084 words (3.1 pages)

The Board Of Directors Of Radioshack Essay

- To the Board of Directors of RadioShack, 2015 and 2016 shook the confidence of RadioShack first with the bankruptcy and later the resignation of the CEO, Ron Garriques, who served less than a year in the position. Although one may consider these to be significant setbacks, I view these as opportunities, blessings and stepping stones for future of the firm. These events mark an opportunity for the Company to wipe its plate clean and make itself relevant again. It must use its rich history as a one-stop shop for offering a wide-variety of higher quality electronics to fuel the rebound story and transform the Company from being a buyer’s second thought to regaining the buyer’s focus....   [tags: Management, Future, Planned economy]

Better Essays
1056 words (3 pages)