Wally Bock

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Vail’s third decision led to the establishment of one of the most successful scientific laboratories in industry, the Bell Laboratories. Again, Vail started out with the need to make a private monopoly viable. Only this time he asked: “How can one make such a monopoly truly competitive?” Obviously it was not subject to the normal competition from another supplier who offers the purchaser the same product or one supplying the same want. And yet without competition such a monopoly would rapidly become rigid and incapable of growth and change. But even in a monopoly, Vail concluded, one can ...more
The Effective Executive
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