Discuss the significance of the "ambidextrous organization" concept in contemporary business management. Explain how ambidextrous organizations balance the exploitation of existing capabilities with exploration of new opportunities to achieve long$-$term success and competitiveness. Analyze the challenges and strategies involved in creating and maintaining ambidexterity within organizations, considering factors such as organizational culture, leadership approaches, resource allocation, and innovation management. Provide examples of companies that have effectively embraced ambidextrous strategies, illustrating how they have managed to reconcile conflicting demands between exploiting current competencies and exploring new markets or technologies to drive sustainable growth and innovation.

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The concept of the ambidextrous organization has gained significant importance in contemporary business management due to the increasingly dynamic and competitive business environment Ambidextrous org... View the full answer