CNBC Maths: 1% of $30 Billion

3M CEO: Research Is 'Driving This Company' - Yahoo! Finance: ""I believe that what is driving this company in terms of return for us is the investment in research and development, and every time we do it we know that we have a competitive advantage," says CEO Inge Thulin, who took over the company in early 2012.
 Historically the company spent 5 percent of revenue on R&D, but Thulin intends to spend 6 percent of revenue by 2017. That 1 percent increase may not sound like a lot, but when annual revenue comes in at a whopping $30 billion, it's a significant amount of money: $30 million.
The goal: to increase the number of new products the company creates and, just as importantly, gets onto store shelves.
Generating revenue from ground-breaking science isn't a foregone conclusion.
 3M is so singularly focused on making sure science moves from invention to mass production, that the company has an internal measure called the "NPVI," or New Product Vitality Index. The NPVI is the percentage of revenue the company generates from products that didn't exist five years earlier.
In 2008, 25 percent of the company's revenue came from products created in the last five years. Today, that number is 34 percent."

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