The one 'old' company that still inspires innovators is 3M. Larry Wendling, vice-president of 3M's corporate research labs at its St. Paul (Minn.) campus, gives a seven-point list to Business Week.
1. From the chief executive on down, the company must be committed to innovation.
2. The corporate culture must be actively maintained.
3. Innovation is impossible without a broad base of technology
4. Encourage networking -- formal and informal -- among its researchers.
5. Set individual expectations and reward employees for outstanding work
6. Quantify efforts.
7. Research must be tied to the customer.