We all know what it stands for but what is it really?
BYOD is a company defined set of policies, applied to the network infrastructure.
Together these policies or framework, control access to different areas of your company network depending on the who/what/where scenario: who’s asking, what device they’re using and the location they’re using the device at.
For example, a corporate-issued laptop accessing the network from within the office. Usually, full access to company resources. Personal smartphone over a public Wi-Fi hotspot? This may have some restrictions.
For organisations, their decision to introduce a BYOD framework comes down to a balance of improved productivity vs cost of implementation/integration and the higher risk of loss of sensitive data.