TechNova Ltd$.,$ a mid$-$sized technology company based in Shenzhen, China, has emerged as a leading developer of smart home solutions. Its flagship products, including AI$-$driven thermostats and voice$-$controlled home security systems, have achieved rapid market growth. However, as customer expectations evolve and competitors introduce increasingly innovative offerings, TechNova faces the critical challenge of maintaining a balance between fostering innovation and ensuring operational efficiency. The company currently manages a dual focus: promoting innovation through cross$-$functional collaboration while ensuring efficiency by adhering to clear processes and organizational goals.

$$

Discuss how can companies like TechNova strike an optimal balance between horizontal coordination for innovation and vertical control for efficiency without compromising one for the other, ensuring neither is compromised. $(35$marks$)$

$$

Note: Provide a detailed explanation of strategies that TechNova can adopt to balance these objectives. $$