3M Open Fund Support Area Causes

The corporation 3M was launched in 1902 in Northern Minnesota under the name Minnesota Mining and Manufacturing Company with the simple mission of mining corundum, used in sandpaper and grinding wheels. Today, 3M manufactures over 60,000 products used in businesses, homes, schools, and hospitals, with one-third of those products being developed in the last five years. 3M also donates to various causes through the 3M Open Fund.

In the last two years, the 3M Open Fund has supported charities in Minnesota. A part of PGA Tour events, the 3M Open golf tournaments support the 3M Open Fund. In July 2020, the 3M Open Fund announced its intention to give the $1.5 million raised on the 3M Open tour to local, nonprofit charities in Minnesota.

This fundraising effort was designed to highlight the power of the community during the worst of the pandemic. Area charities selected for funding included M. Health Fairview, Greater Twin Cities United Way, the YWCAs of Minneapolis and St. Paul, Science Museum of Minnesota, Urban Ventures, University of Minnesota Masonic Children’s Hospital, VEAP, and the Lake Street Council.

The YWCAs of Minneapolis and St. Paul received $100,000 each in February 2021 from the 3M Open tournament. For the YWCA of Minneapolis, this funding will support initiatives related to racial justice, education and educational disparities, wellness, gender inequity, homelessness, and employment opportunities.

For the YWCA of St. Paul, the funding went toward supporting its fundraiser, Sweet Success. It also went toward another program the YWCA supports Permanent Supportive Housing program. This program assists families who have histories of long-term homelessness overcome barriers leading to this issue.

VEAP was another area organization that received funding from the 3M Open Fund, this time $100,000. VEAP is one of Minneapolis’s largest food pantries, and the funding went to support providing housing and food assistance to area families and children.

This funding will go a long way to support an organization that distributes 4.6 million pounds of food a year to 33,000 households in Bloomington, Edina, Richfield, and South Minneapolis. Annually, more than 1,800 volunteers assist with its on-site and mobile food pantries. Outside of providing families with food and housing assistance, VEAP also offers caring, professional support for those in crisis.

Finally, in October 2021, the 3M Open Fund with the Greater Twin Cities United Way presented Jessica Rogers with the Social Leadership Award for her leadership and collaborative work that culminated in getting support for her program Connections to Independence. Connections to Independence is an organization that provides unique programming for children (ages 14 to 24) who are in foster care. Established in 2010, the program was designed to help children transition from foster care into their adulthood.

In managing the program, Rogers worked with others to build an organization that exceeded national outcomes. According to the October 2021 release, her program is one that others in the state look to for guidance. In addition to Rogers receiving the award, 3M Open Fund awarded the program a $7,500 grant.

According to 3M Open Fund Partner and Associate Vice President of the Greater Twin Cities United Way, Stephannie L. Lewis, community work is one of the best ways to disrupt inequity, which happens through change-makers such as Rogers. These people identify challenges, find solutions, and take actionable steps to transform their communities.

Strategy Consulting over Financial

Strategic consulting is inclined towards analytical thinking, with the primary focus being factual data. This is because without making the proper decisions, a business can crumble. To avoid this, the best way to arrive at the perfect and most effective decision as a business is with the help of analytical thinking and factual data.

Financial consulting, on the other hand, deals majorly with the cash flow of the business. Financial consultants are employed to manage any debts incurred by the company and bring any opportunity to save into the limelight. They also lay out the proper groundwork for selling products and services. Having both these consultants can contribute to the progress of a business. However, for some select few reasons opting for strategic consulting over financial consulting has its perks.

When employed, financial consultants focus only on the monetary aspect of a company and actively find ways to make the company excel in this aspect. However, a strategic consultant researches and studies the majority of business problems present and engineers solutions based on that. Due to its superiority in only one domain under a financial consultant, the company is more likely to serve fewer clients than under a strategy consultant. This is because strategy consultants can help the company to excel in multiple domains. They also discover cost suppressing methods that enable them to alter costs from time to time.

With strategy consulting, there is an option to work for a multinational corporation’s CEO directly. Working with the CEO is feasible because a collaboration to work on the firm’s most resilient and widest issues is inevitable. While financial consultants mostly get to work under the company’s CFO, handling things like mergers and acquisitions. Since strategy consultants solve broader problems in a shorter period, they have more impact on the progress of a company.

Strategy consulting deals with emphasis on clear and concise quick thinking, which is built rather than expertise in a certain area. Due to the nature of problems that they solve, strategy consultants have to thrive at all times.

A lot of financial consultants have a high chance of facing career stagnancy at the beginning of their careers. Most times, financial consultants have to deal with clients' emotional breakdown, which can prove quite difficult at the beginning stages of a career. They are also limited to finance and gain little experience in other domains. Strategy consultants, on the other hand, are less likely to go through incidents of this sort. They also have a wider horizon of work experience, and this acts as a boost for their career.

There is also a clear difference between the salaries of a financial and strategy consultant. In the long run, the salary earnings of a financial consultant turn out to be less than that of a strategy consultant.

Strategy consulting involves working across various industries and various firms in each industry. This prepares any strategy consultant for a broader range of work in strategy and operations and increases your exposure to future prospective employers. This makes an exit from their current company easier than for financial consultants. Working as a financial consultant in a firm only prepares individuals for a similar financial advisory role in another firm. It can cause the career progress of a financial consultant to stall when switching employers or firms.