Kocourek, Burger, Birchard propose 12 questions boards should ask in the course of discharging their oversigh responsibilities:

  1. Does the management have a comprehensive strategy and operating plan for the company to realize its performance potential? (Strategic direction)
  2. Are the necessary human, financial, physical and other supporting resources provided and properly allocated to achieve success? (Resource allocation)
  3. Does the CEO provide the leadership required by the company and does the organisation have a succession plan for this position? (Management)
  4. Does the management use an effective system of key performance indicators to monitor and control operation performance? (Operating Controls)
  5. … …

Methods to speed up ( as a competitive advantage)

  1. Streamlining operation
  2. upgrading technology
  3. forming partnerships

Fundamentally, 6 mandates drive innovation at 3M:

  1. Support innovation from R&D to customer sales and support
  2. Understand the future by trying to anticipate and analyse future trends
  3. Establish stretch goals
  4. Empower employees to meet goals
  5. Support broad networking across the company
  6. recognize and reward innovative people