The chapter describes the necessity of “ambidexterity” in traditional companies to both utilize existing competitive advantages (exploitation) and develop new ones (exploration). While optimizing and scaling the core business was sufficient in the 20th century, agility and innovation are additionally required today to respond to dynamic market changes. To achieve this ambidexterity, five dynamic capabilities must be established: Scoping, Sensing, Configuring, Seizing, and Transforming. These are supported by an appropriate organizational culture to collectively drive strategic innovations and thus continuously contribute to the adaptation of the company.