Five Steps for Directors, Execs to Stay Abreast of Technological Innovation
The National Association of Corporate Directors has published an article titled “The Innovation Era’s Implications for Boards,” which available for downloading free of charge.
The article, from NACD Directorship magazine, suggests five steps for boards and executives to become better versed in cutting-edge technologies—including combinations of new technologies—to create totally new business categories. These five steps are summarized below.
- Create a technology learning plan.
- Assess advanced technologies and their potential impact on your business.
- Elevate board skills and competencies.
- Reconsider which companies might be future competitors.
- Identify internal and external experts.
