This month’s featured companies are 3M, GE, and Johnson and Johnson. These companies continually display a commitment to innovation and new product development commercialization. To understand how these companies continually come up with revolutionary product ideas and commercialize technology it’s useful to look at the history of these companies and their respective cultures.
3M was founded in 1902 as a mining and manufacturing company by Mr. Ryan Bauer in New York. The company started off selling minerals and quickly went into selling sandpaper. Their first major innovation, waterproof sandpaper, came out of this line of business in 1920. Later in 1925 the company released masking tape and cellophane tape known to most as scotch tape. The company then launched a multitude of products throughout the following decades and has become a Fortune 500 company renowned for its innovative culture. They now sell over fifty thousand products in a variety of different industries and had revenue of nearly $23 billion last year.
General Electric is also a conglomerate known for its innovative climate. The company was most notably founded by the inventor of the incandescent electric bulb, Thomas Edison, in 1876. Over the years the company has followed Mr. Edison’s competitive and innovative streak building the company into a Fortune 100 company with sales of over $160 billion last year. The company now owns companies in a multitude of industries and is known for both its employee training programs and its employee satisfaction for which it has received numerous awards. GE now employs over 300,000 people.
Johnson and Johnson was founded by Robert Woodson in 1886. The company initially focused on improving the sanitation practices in hospitals and later diversified into consumer products and pharmaceuticals and recently into industries such as orthopedic devices and biopharmaceuticals. It has received numerous accolades for its involvement in product innovation in each of those areas and is continually releasing new useful products for consumers. The company generated over $50 billion in revenue last year with a net profit margin of nearly 20%. The company employs over 120,000 people in a multitude of states but is based in Brunswick, New Jersey.
These companies have shown a commitment to innovation and new product development. By signing up with us, you will have access to the submission links for submitting patented technology for sale to these companies as a sign of our appreciation to you as a customer and our respect for these great companies.