3 approaches towards further product innovation
              "dual ladder" approach
              * 10% annual growth in EPS line extensions
              * 27% ROC hiring out for
              20-25% ROE market research
             Stage II: Trends/Needs Identification
             Stage III: Preliminary Concept Generation
             Stage IV: Final Concept Generation
             In the early 1900's, 3M corporation began its product innovation process by focusing on a single product at a time, starting with the production of abrasives. After realizing a loss due to the low-grade materials, 3M turned to the sandpaper business. Unfortunately, once again, the company realized a loss when the previously imported abrasives failed to stick to the sandpaper.
             In the 1920s, lab assistant, Richard Drew created the concept behind masking tape while working on ways to improve the sandpaper. By ignoring specific instructions to improve their preexisting products, Drew continued to develop the masking tape concept and opened up the path for 3M's first core technology, which helped the company prosper through the financial hardships of the Depression. 3M then realized their potential success and implemented three approaches towards further product innovation.
             The first of three was to encourage innovation through a variety of means including awards for innovation as well as in-house grants for innovative projects. Second, the company allowed all staff to spend 15% of their time to explore new ideas outside of their assigned responsibilities. Through this came the idea for Post-It Notes. Third, the "dual ladder" approach allowed technically inclined senior status individuals with attractive career opportunities to advance, without having to switch to management. This allowed for a control over turnover and acted an i
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