I doubt that could successfully be done more than rare occasions, for some of the problems see Christensen's "The Innovator's Dilemma" http://www.amazon.com/Innovators-Dilemma-Revolutionary-Busin...
If you're interested in this, you should check out The Innovator's Dilemma by Clayton Christensen. He walks you through how large companies (most of his examples are from the hard drive industry) are often structurally incapable of embracing the revolutionary change which will inevitably overtake them.
http://www.amazon.com/Innovators-Dilemma-Revolutionary-Busin... (not an affiliate link)
http://www.amazon.com/Innovators-Dilemma-Revolutionary-Busin... (not an affiliate link)