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''PRESIDENT AND CHAIRMAN OF 3M "William Mcknight''
THE MINNESOTA Mining and manufacturing company was a struggling
young enterprise on the verge of bankruptcy when McKnight became general
manager in 1914.By the time he retired as chairman in 1966, 3M was a vast
conglomerate with the operations all over the world and products that were familiar
household names to hundreds of millions of consumers. At the heart of this
growth was Mcknight talent for encouraging innovation, the influence of
which can be seen in modern management practice
Biography:
1887-1978. Born in white,south dakota.His parents owned a farm claimed under the homestead Act, Which encouraged the settlement of undeveloped land. He attended Duluth Business university in Minnesota
Leadership style:
Softly spoken but also direct and efiicient. Mcknight provided strong encouragement and motivation to his employees through to his delegating style.
Key strength:
Giving his people free rein to develop their creativity
Best decision:
Setting up a small laboratory in 1916, ensuring that 3M's future was guided by science
The edge of bankruptcy:
Mcknight joined the business that later became know as 3M as an assitant bookkeeper in 1907, when
the company founded only five years earlier,
was struggling to recover from a series of initial blunders that nearly sank it. These errors,including misidentifying a crucial mineral
deposit looked likey to make the enterprise a short lived one but
Mcknight's ability turned 3M around and put it on the path to growth.
Freedom to Innovate:
Mcknight quickly recognized that making mistakes was an intrinsic part of innovation and that innovateion was the key to success.Putting this insight into practice he made research the heart of 3M's activities, establishing a laboratory. The research and development approach created breakthrough product after breakthrough product many of which have remained in use ever since among them waterproof sandpaper, masking tape,cellophane tape,scotchgard, reflective sheets for highway markings and post it notes. Mcknight also understood that invention required a looser approach to managemnet that alowed people delegating and allowing employees a far greater time. He allowed his engineers to spend 15 percent of thier time on projects of their own, stimulating creativity. McKnight formulated a series of pioneering management principles based around the importance of delegation made they will be less damaging than the mistakes management wil make in telling everyone what to do
Lessons in business Encouraging Autonomy:
Rather than treating them as tools to transmit your directions trust your people and give them the room to exercise their creativity even if it means they make mistakes that you could have avoided]
* Record successes and mistakes and make this information accessible to everyone.That way the organization learns from its mistakes.
* Encourage people to look at potential risks, estimating the impact and probability of the risk occuring
* People are your greatest asset. Make sure that how you look after your people is consistent with your words.
"If you put fences around people, you get sheep."
-William Mcknight
''PRESIDENT AND CHAIRMAN OF 3M "William Mcknight''
THE MINNESOTA Mining and manufacturing company was a struggling
young enterprise on the verge of bankruptcy when McKnight became general
manager in 1914.By the time he retired as chairman in 1966, 3M was a vast
conglomerate with the operations all over the world and products that were familiar
household names to hundreds of millions of consumers. At the heart of this
growth was Mcknight talent for encouraging innovation, the influence of
which can be seen in modern management practice
Biography:
1887-1978. Born in white,south dakota.His parents owned a farm claimed under the homestead Act, Which encouraged the settlement of undeveloped land. He attended Duluth Business university in Minnesota
Leadership style:
Softly spoken but also direct and efiicient. Mcknight provided strong encouragement and motivation to his employees through to his delegating style.
Key strength:
Giving his people free rein to develop their creativity
Best decision:
Setting up a small laboratory in 1916, ensuring that 3M's future was guided by science
The edge of bankruptcy:
Mcknight joined the business that later became know as 3M as an assitant bookkeeper in 1907, when
the company founded only five years earlier,
was struggling to recover from a series of initial blunders that nearly sank it. These errors,including misidentifying a crucial mineral
deposit looked likey to make the enterprise a short lived one but
Mcknight's ability turned 3M around and put it on the path to growth.
Freedom to Innovate:
Mcknight quickly recognized that making mistakes was an intrinsic part of innovation and that innovateion was the key to success.Putting this insight into practice he made research the heart of 3M's activities, establishing a laboratory. The research and development approach created breakthrough product after breakthrough product many of which have remained in use ever since among them waterproof sandpaper, masking tape,cellophane tape,scotchgard, reflective sheets for highway markings and post it notes. Mcknight also understood that invention required a looser approach to managemnet that alowed people delegating and allowing employees a far greater time. He allowed his engineers to spend 15 percent of thier time on projects of their own, stimulating creativity. McKnight formulated a series of pioneering management principles based around the importance of delegation made they will be less damaging than the mistakes management wil make in telling everyone what to do
Lessons in business Encouraging Autonomy:
Rather than treating them as tools to transmit your directions trust your people and give them the room to exercise their creativity even if it means they make mistakes that you could have avoided]
* Record successes and mistakes and make this information accessible to everyone.That way the organization learns from its mistakes.
* Encourage people to look at potential risks, estimating the impact and probability of the risk occuring
* People are your greatest asset. Make sure that how you look after your people is consistent with your words.
"If you put fences around people, you get sheep."
-William Mcknight
http://sonalworldh.blogspot.com/2011/02/3m-ceo-william-mcknight.html
datzzzzz really a gr88 role model!!!
ReplyDeleteGud job on CEOS
ReplyDelete.
ReplyDelete