ves input from across the organization. It is the responsibility of international subsidiaries, working closely with regional managers, to meet the national goals of the global plan. The degree of globalization associated with any one product varies with that product (3M offers more than 60,000 products based on 100 core technologies in 55 countries) (Hammerly, March/April 1992, p. 8).
3M's competitive strategy can be identified in six values identified by its CEO: establish technology competencies; differentiate the company from the competition; establish proprietary positions; leverage existing strengths; enter segments where the company can win; and build the business through such activities as acquisitions, equity investments and licensing.
3M seeks to balance its the global and local elements of its business; its does not have a single integrated company-wide strategy. In this way, the company is able to strategically market products that have a global market, such as home videocassettes, but also give local emphasis to niche products. This approach has led to global efficiency at the same time that the company is able to realize multinational flexibility (Bartlett & Ghoshal, 1992, pp. 274-275).
One of the areas in which 3M has been particularly successful is in its operation of foreign subsidiaries. Here, the company has pursued a policy of 100 percent owned subsidiaries since the company considers itself entirely committed to the subsidiary (Hammerly, March/April 1992, p. 10). 3M prefers to be the first competitor in the market on the theory that entry by a giant discourages competition. In addition, 3M hires local employees and gives them the latitude they need to effectively run their organizations. The company does this based on the belief that local individuals are most in tune with their local markets.
This approach enables 3M to take full advantage of national differences without sacrificing its commit...