30% of income must come from new products

Adapted extract from an article entitled 'After you've made a better mousetrap' by Richard Tofel in The Wall Street Journal (April 21st '95) monitored for the Institute by Roger Knights.

The 3M company has for a long time insisted that each division generate at least 25% of sales from products and services introduced in the past five years - and recently responded to the increased pace of change by increasing the figure to 30% and shortening the time period to three years.

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