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Published on Nov 2, 2010
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 dilapidated 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.