So I was doing some random Googling and stumbled across two good points for when building a conglomerate that consists of multiple companies operating under a single holding company:
1) Create an employee stock-ownership program so that the individual member companies operating under the holding company have a financial stake in the performance of the holding company; this will incentivize the management to adopt an entrepreneurial approach to running their companies.
2) Decentralization as opposed to centralized management. Basically let the member companies operate as independent subsidiaries (this is also what I had theorized about earlier, as obviously a conglomerate where everything is run with a top-down management style would probably be sluggish and bureaucratic).
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