A policy where the company buys the phone or laptop, and staff may also use it for personal things.
Like a company car that employees may also drive on weekends, with the company keeping the keys and the rules.
An employee lost a company phone on a train. Because the company managed it, it was locked and wiped remotely the same day.
Mobile Management is a planned card for managing company phones and tablets.
Can the company see my personal data?
It depends on the policy. Ask what is monitored before you agree.

Every WILDCARD card exists to solve one named problem. Find yours.