Organizations have a variety of reasons to diversify their business and many ways to diversify and retrench. Please provide an explanation.
Review the products 3M offers (http://www.3m.com/http://www.3m.com/) and the markets it serves. Select one or more 3M businesses and comment on their business diversification strategies discussing the role of business diversification in the strategic planning process.
3M is one of the most diversified companies in the world. It produces thousands of products which are a result of science and are sold across all four continents. 3M is currently organized into six business units; Consumer and Office, Display and Graphics, Electro and Communications, Health Care, Industrial and Transportation, and Safety, Security and Protection Services. Some of its commercially successful products include Post-it Notes, Scotch-Brite ...
Solution includes a detailed explanation of the reasons behind why an organization would diversify her business.