Forget about startups, says Intel's co-founder. It's large companies that generate real change. Apple upended the music industry. Wal-Mart may reinvent health care. Now if only G.E. would build an electric car.
I usually try to control myself and resist giving compliments or unsolicited advice to people I don’t know well. But I recently did just that. I emailed letters to Lee Scott, C.E.O. of Wal-Mart, and Jeff Immelt, C.E.O. of General Electric. I wanted to share with them some of my thoughts about their businesses. Both companies are leviathans that have struggled recently to grow in ways that satisfy shareholders. Wal-Mart, I wrote to Scott, has created a phenomenal opportunity for itself by offering in-store health clinics and, in the process, may transform the U.S. health-care industry. G.E., I told Immelt, could boost its fortunes by complementing its experience in power generation with building an electric car.
In my position as a lecturer at Stanford Graduate School of Business, I’ve been working with my colleague Professor Robert Burgelman to examine how large companies can defeat the law of big numbers.
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