Diversification Strategy of 3M

What are the key industries in which 3M operates?

3M operates in healthcare, transportation, consumer goods, electronics, energy, and safety and graphics industries. Is this related or unrelated diversification?

Key Industries in which 3M operates:

3M operates in healthcare, transportation, consumer goods, electronics, energy, and safety and graphics industries. This is an example of unrelated diversification.

3M, a diversified company, operates in multiple industries such as healthcare, transportation, consumer goods, electronics, energy, and safety and graphics. This diversification strategy is considered unrelated diversification because these industries are not directly related to each other.

The benefit of unrelated diversification for 3M is that it helps reduce risk by not relying on a single industry. By operating in different industries, 3M can leverage its expertise in research and development, manufacturing, and marketing across multiple value chain activities.

For example, 3M's expertise in materials science can be applied in various industries such as healthcare, transportation, and consumer goods. This allows 3M to share resources, knowledge, and technologies across different businesses, increasing efficiency and creating competitive advantages.