Theory and reality aren't always compatible. However a "bottom-up" approach does make sense for major companies. If the systems and processes are sound at the lowest level, then there should be good solid building blocks for the more complex levels. Often, things don't work because they aren't sound at any level, but if one makes sure that things are working properly on all levels, starting at the bottom, they should be.
I do not think it would be beneficial for a company just to go with a bottom up approach. I think that you have to be smart about what is working and what is not. If your industry is not going well then you should not assume that your company will do well. You have to really have a good business plan and dedicationf or it to work.
I do not believe a bottom-up approach is needed to succeed in the future for major companies. I believe companies are use to their current methods and seeking out profits. A bottom-up approach is unlikely to be considered a necessity, when cheaper approaches work with less effort. I have my doubts this will be the norm.
No, a bottom-up approach is not needed to succeed in the future for major companies, because the leaders on top still do a good job. With a bottom-up approach, there would be no one to make a final decision on anything. Someone needs to have the final say for how things will be done.