How can businesses balance the different demands of both exploiting and exploring? Organizations and their leaders have to use both hands: on the one hand making next quarter's targets through existing business, whilst simultaneously exploring new opportunities.Mega-trends such as ageing populations, mobile technology and renewable energy are creating new opportunities for innovation that require links and convergences between industries, and leaders have to face the challenge of steering their organizations through this unchartered territory. Traditional management approaches will not work: both leaders and their organizations have to be geared towards ambidexterity. This is the first book to truly explain how to harness the power of this approach to encourage innovation. With examples from Nespresso, Daimler Benz, Zurich Financial, Intel, and industries such as packaging, pharmaceuticals, telecoms, this book identifies key challenges around: organizational perspectives; individual leaders; internal processes and culture at both the organizational and individual level. The second part provides solutions, including linking corporate and individual development; external scouting; purposeful convergence engineering; creating appropriate partnerships and approaches to managing risk.