Ambidexterity refers to the ability to use both hands equally well. In business administration, this concept describes the ability of organizations to pursue incremental and radical innovation simultaneously. Chapter 2 introduces the concept and its manifestations and links it to the field of corporate governance. It highlights why ambidexterity becomes a key competence of supervisory boards when it comes to successfully accompanying major transformations in companies. Harvard Professor Michael Tushman, one of the world’s leading minds in transformation and ambidexterity research, illustrates this in an interview with examples from research and practice.