For 3M, 2010 was a good year. Revenues surpassed pre-recession levels, with organic volume growth expected to be near 14 percent for the year. But even with all the positive news, executives at the diversified manufacturer see opportunity to do better.

At 3M's 2011 Outlook Meeting, George Buckley, president and CEO, addressed applauded the progress made on the strategic initiative introduced five years ago, but advised the company needs to stay on that path to continue strengthening its foundation going forward.

But the place any company should begin, Buckley advises, is with the core. "Unless the core is actually dead ... it's always the place where you're likely to get the …