Say what? Test your digital vocabulary

In the world of medicine, the term has been around for a long time and simply means ‘both-handedness’, i.e. being able to use the left and right hand equally well. That is generally not so easy.

But why does the chief innovation officer at Deutsche Telekom, Christian von Reventlow, also like to talk about ambidexterity? He applies the term to the company and its ability to be simultaneously efficient and innovative. Large companies have concentrated for a long time on making their core business more efficient. But every manager now knows that it takes more than that to survive. Those who want a successful future need to generate ambidexterity – space for both innovation and optimisation.

In organisation science, these company abilities are called exploitation and exploration. Exploitation means making what already exists better and making full use of existing knowledge, while exploration is creating something new; bringing new knowledge or new technologies into the company. It sounds contradictory. But for Christian von Reventlow, it is a question of leadership above all. Can I give my team the freedom to play around and experiment? Can I listen and can I motivate them to have new ideas? That is a change in culture and everyone in the company must be prepared for it and committed to it.

The clue is in the name. It is literally a chain of blocks. This describes the principle of the decentralised, Web-based database that is the basis of the cryptocurrency Bitcoin. The database collects an ever-growing list of transaction datasets.

It grows linearly, like a chain to which new links are continually added. Each partner in a transaction has full transparency regarding the process, because the blockchain does not belong to anyone – there is no longer any central authority.

A computer that is newly logged on to the blockchain administers an exact copy of the entire blockchain. That makes the data recorded from the blockchain verifiable and secure. The authenticity of the data no longer needs to be tested or ensured by a supervisory authority. This principle could considerably speed up and simplify many processes.

Major IT companies such as IBM, SAP and Microsoft are already working on developing their own applications and platforms. In June 2017, IBM was contracted by seven banks to build an international transaction platform on a blockchain basis. Start-ups are also developing new services using the principle. The technology could become very useful for mobile payment, the financial markets in general, augmented and virtual reality and many other transaction processes.

The fixed workplace is now on the move. Thanks to smartphones and tablets, we can work anywhere, whether it is at home, on a high-speed train or in the office. And we are also kept very busy by these devices in our private lives: on Facebook, texting, Tweeting and making calls. Younger employees in particular want to work with the private devices they know and trust, and the software installed on them.

This trend is already widespread in the USA, using these abbreviations:
BYOD = Bring your own device
BYOA = Bring your own application
BYOT = Bring your own tech

It was not so long ago that sending private emails from company computers was forbidden in some companies. But smartphones in particular are something that we use so intensively in our private lives that it seems pointless to uphold the distinction between ‘this is work’

and ‘this is private’. And that is the big problem with this trend. How can you guarantee data security and functioning technology if everyone works on their private tablet, smartphone or laptop? And what does it mean for the corporate culture? The advantages for employees are that it is more fun, simplifies work and increases productivity.

There are already two new trends to clear up security and service concerns on the part of the company. The first is called CYOD (choose your own device), the other COPE (corporate owned, personally enabled). In this case, the company does still own the device, but it is free to be used as a personal device at the workplace and for private purposes.