Researching a one company and Solving 3 Questions - Essay Example
McKnight’s management principles were firstly to delegate responsibility and to encourage staff to exercise their initiative and secondly for management to learn to focus on supporting staff who have participated in failed projects move on to something else rather than punishing them (“McKnight Principles†5).
To reinforce its culture of intrapreneurship 3M has instituted several policies and philosophies. The three that jump out of 3M’s organizational culture are the 15 percent option, tolerance for failure and rewards for success.
The 15 percent option give employees authority to 15 percent of their workweek on individual projects of their choice without the need to either disclose or justify it to a manager (Govindarajan and Lang 3). This policy gives 3M staff freedom to be innovative.
Tolerance for failure philosophy guarantees employees their jobs and no punishment for a product that fails in the market.
