3M in 2024 : Tiding Over Colossal Challenges / Rohit Prabhudesai.

Format:

Book

Author/Creator:

Prabhudesai, Rohit, author.

D'Costa, Clifford, author.

Denny, Debin, author.

Awasthi, Punit, author.

Jaiswal, Avinash, author.

Series:

SAGE business cases.

SAGE business cases

Language:

English

Subjects (All):

3M Company--Case studies.

3M Company.

Business losses.

Physical Description:

1 online resource

Place of Publication:

London : SAGE Publications: SAGE Business Cases Originals, 2025.

Summary:

In January 2024, 3M, which had a presence in over 200 countries through its portfolio of over 60,000 products, was going through arguably the worst period in its more than hundred years of existence (3M News Center, 2024). It was one of the worst performing stocks in the Dow Jones as well as the Standard & Poor (S&P) 500 Index, with the share price declining by more than half from January 2021 levels. It had also agreed to pay a cumulative amount of USD 6 billion in compensation to over 250,000 users of its Combat Arms earplugs, over complaints that they were defective and had caused hearing damage (Chase, 2024). There was also another settlement of over USD 10 billion with public water suppliers in the United States, based upon claims that the perfluoroalkyl and polyfluoroalkyl substances (PFAS) that were used in its products had caused water contamination (Feeley, 2023). The PFAS settlement was only partial in nature as it did not include personal claims or claims by various states. A source estimated that the PFAS liability beyond the settlement stood at an approximate figure of USD 30 billion (Askew, 2022). Given the host of problems it was confronted with, what would 3M have to do to effect a turnaround and get back to its glory days?.

Notes:

Description based on publisher supplied metadata and other sources.

ISBN:

9781071968772

1071968777

OCLC:

1483993261