Balancing between sticking with what a company already knows and trying out new things is crucial for long-term success. This paper reviews the theory of organizational ambidexterity, which is about managing this balance. While there is a lot of research on how big companies can do this, not much is known about how smaller companies can achieve ambidexterity, what factors help organizations become ambidextrous, and the role of different levels of management in the process. The paper introduces the idea of exploring and exploiting at the same time, discusses the challenges and different aspects of ambidexterity, and points out gaps in current research.