Annual Report Project on 3M

In this paper we have selected a company from U.S. Its called 3M. The overview of the company is given below:

Overview

3M Company (NYSE: MMM), once was called the Minnesota Mining and the Manufacturing Company, was came into being in 1902. Now the company posses 80,000 employees, which is producing products such as projector systems, Scotch tape, Tartan track, Post-it notes and Thinsulate. This is conglomerate which manufactures products for so many industries and for business and personal use both, and their production, research and the sales offices are all over the globe.

3M is specifically foreign company; yet more than the most of the other American blue chip firms. The organization generates just 35% of the sales from The United States of America. The rest of the sales come from Asia Pacific which is 31%, Europe generates 23% and Canada and Latin America produce 11% of sales.

Question # 1

Corporate Governance

The principles of corporate governance govern that how the company conducts its business on every day basis, it enables them to outperform and to lead the company to a growth which is sustainable. The governance principles give a framework which defines the rights, roles and responsibilities of various groups inside the organization. The board of Directors of 3M oversees the CEO (Chief Executive Officer) and the senior management which ensures that proper polices and controls are at the place which covers the activities of management in the operation of the company on the grounds of ethics on every day basis.

The Board has taken up the following guidelines of governance and the charters of committee, which in combination with the articles of incorporation of 3M and the Bylaws, for the framework governance of 3M.

Company Structure

3M's units of business are made up of two sectors: The consumer and industrial Sector, ...