3M has earned a top spot on Booz & Company’s list of most innovative companies for the third consecutive year, ranking number three behind Apple and Google.
Booz & Company, a global management consulting firm, surveyed nearly 700 innovation leaders from companies worldwide to determine which companies those leaders see as the most innovative companies in the world.
In addition to the survey, Booz & Company also examined corporate R&D spending through its Global Innovation 1000 Study, which looked at the 1,000 public companies that spent the most on R&D in 2011. Last year, 3M spent approximately $1.6 billion on R&D. The studied revealed that the most innovative companies are not necessarily the biggest spenders. For example, among the Global Innovation 1000 companies 3M ranked 86th in R&D spending, while Apple and Google ranked 53rd and 26th respectively.
Earlier this year, 3M set a vision for the company that captures the essence of its innovative culture: 3M technology advancing every company; 3M products enhancing every home; and 3M innovation improving every life.
3M captures the spark of new ideas and transforms them into thousands of ingenious products. Our culture of creative collaboration inspires a never-ending stream of powerful technologies that make life better. 3M is the innovation company that never stops inventing. With $30 billion in sales, 3M employs 84,000 people worldwide and has operations in more than 65 countries. For more information, visit www.3M.com or follow @3MNews on Twitter.