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Innovation: Wesfarmers' MD Richard Goyder Brings on the New
The bigger the business, the less likely it is to be innovative,
according to Wesfarmers managing director Richard Goyder. And that's no
small claim from the chief of a conglomerate with some 200,000
employees. However, the Western Australian group, that began almost 100
years ago as a farmer's cooperative, has managed to keep growing and
innovating across diverse sectors, including retail, resources and
financial services. And its latest results indicate it's on plan to
turnaround the Coles group business. In an interview with
Knowledge@Australian School of Business, Goyder outlines how Wesfarmers,
with its many smaller companies, beats the problem of innovation
shrinking in inverse proportion to the organisation's size.
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The bigger the business, the less likely it is to be innovative,
according to Wesfarmers managing director Richard Goyder. And that's no
small claim from the chief of a conglomerate with some 200,000
employees. However, the Western Australian group, that began almost 100
years ago as a farmer's cooperative, has managed to keep growing and
innovating across diverse sectors, including retail, resources and
financial services. And its latest results indicate it's on plan to
turnaround the Coles group business. In an interview with
Knowledge@Australian School of Business, Goyder outlines how Wesfarmers,
with its many smaller companies, beats the problem of innovation
shrinking in inverse proportion to the organisation's size.
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