Business means taking risk and safe game is not apt for business. Brian Krzanich, Intel CEO is well aware of it and since 50th anniversary is approaching, Intel employees got a memo to “take more risks” as the company persists to expand into new growth markets.
"We're just inches away from being a 50/50 company, meaning that half our revenue comes from the PC and half from new growth markets. In many of these new markets we are definitely the underdog. That's an exciting challenge—it requires that we develop and use new, different muscles," Krzanich said.
"The new normal for Intel is that we are going to take more risks. The new normal is that we will continue to make bold moves and try new things. We'll make mistakes. Bold doesn't always mean right or perfect. The new normal is that we'll get good at trying new things, determining what works and moving forward," Krzanich continued.
Risk business strategy is a reflection of what Krzanich observed when he was new to Intel. In the memo he mentioned that when he was just three months into the job, his boss informed him that Intel would be exiting the DRAM business and shutting one of its factories down. The knee-jerk reaction was disappointment and skepticism. He even called his father and told him he would be coming home.
"I watched as Intel made a massive shift. It required downsizing, new investments, and a lot of change. Yet in December 1997—20 years ago this month—Time magazine named then-Intel CEO Andy Grove its Man of the Year. Under his leadership, Intel had transformed from embattled memory maker to the world's leading microprocessor company and a leader of the digital revolution," Krzanich says.