Top management should promote entrepreneurship through experimentation, embrace diversity in strategic activities, and identify potential entrepreneurs early on for organizational success.
Top management should promote entrepreneurship through experimentation to create a culture of innovation and adaptability within the organization. This approach is exemplified by companies like 3M and IBM, where experimentation and risk-taking are encouraged to drive growth and change.
Additionally, embracing diversity in strategic activities can lead to a stronger and more dynamic organization, as highlighted by the importance of having a multicultural top management team, as seen in companies like the Adidas Group.
Identifying potential entrepreneurs early on and fostering their growth and development is crucial for long-term success, rather than waiting until after an innovation program is in operation.
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