Compared to homogeneous top management teams, heterogeneous top management teams are more likely to change their firm's strategies when necessary and to support innovation.

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Studies have shown that heterogeneous top management teams, which are composed of individuals with diverse backgrounds, experiences, and perspectives, are more likely to challenge the status quo, generate new ideas, and be open to change. As a result, they are often better equipped to handle complex and dynamic environments and support innovation. Homogeneous teams, on the other hand, may be more resistant to change and more likely to maintain the status quo.

Compared to Homogeneous Top Management Teams, Heterogeneous Top Management Teams