12 Questions that every Director should ask!
Asking the right questions is at the heart of good Corporate Governance.
I have had good and disastrous experiences on various boards, including my own companies. Based on these experiences I have compiled a list of twelve questions directors of an organization should ponder over. If not comfortable with the self-responses, I believe directors should table these questions at board meetings.
- What are the key responsibilities of Independent Directors?
- What are Independent Directors accountable for?
- Do we have the right CEO?
- Is the CEO compensation linked to actual performance?
- What is the collective vision of the leadership team?
- Do the leaders own specific strategic goals that will enable reaching the vision?
- How rigorous is succession planning?
- Is process capability the basis for selecting suppliers and partners?
- How do managers solve chronic problems?
- Organization-wide, how productive are meetings?
- What is the Cost Of Poor Quality of the organization?
- Do we practice the Triple Bottom Line?
There will always be many more questions that should be asked. Ask.
There will always be many more questions that should be asked. Ask.
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*The MADE IN INDIA tiger is a creative representation of the idea behind becoming a manufacturing behemoth in the global markets. Any resemblance to any other logo, is purely unintentional.
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About Suresh Lulla
SURESH LULLA established Qimpro Consultants Pvt. Ltd. in 1987 as a focused quality management consultancy based on The Juran Trilogy: quality planning, quality control, and quality improvement. Since inception, Qimpro has saved Indian corporates over Rs 20,000 crores in terms of cost of poor quality, using the Juran methodologies. In 1989, Mr Lulla established Qimpro Convention as a culmination of a quality improvement competition for the QualTech Prize. Currently, there are three parallel competitions?—?improvement, innovation, and sustainability in the manufacturing, services, and healthcare sectors. Areas of Specialization • Problem Solving • Process Excellence • Performance Excellence • Benchmarking Best Practices Author Mr Lulla has authored ‘World-Class Quality: An Executive Handbook’ published by Tata McGraw- Hill (2003). Quality Fables In 2014, Mr Lulla released Quality Fables. Unlike Aesop’s Fables, these 25 fables are not based on fiction and/or animals. They are based on real experiences and involve real people. Each is a short narrative making a significant point. Recognition In 2004, Mr Lulla was awarded the IMC Juran Centennial Medal for his pioneering contribution to quality practices in India. In 2005, Mr Lulla was awarded the Distinguished Alumnus Award by the Indian Institute of Technology, Bombay in recognition of his outstanding achievements in Quality Management Consultancy. In 2006, the Institute of Management Consultants of India conferred on Mr Lulla the award of Fellow Member. Professional Bodies • Chairman, IMC Quality Awards Committee?—?IMC Ramkrishna Bajaj National Quality Award; IMC Juran Medal • Director?—?Membership Retention and Engagement, Global Benchmarking Network
Click here to buy his new book: Quality Fables?—?now available on Amazon Kindle
