Capability management in business Capability management in business Capability management is the approach to the management of an organization, typically a business organization or firm, based on the "theory of the firm" as a collection of capabilities that may be exercised to earn revenues in the marketplace and compete with other firms in the industry. "Capability Management" seeks to manage the stock of capabilities within the firm to ensure its position in the industry and its ongoing profitability and survival. Prior to the emergence of capability management, the dominant theory explaining the existence and competitive position of firms, based on Ricardian economics, was the
Lake Forest Graduate School of Management address the issue, three companies, Abbott Laboratories, Fansteel Metallurgical Corporation, and Johns-Manville Products Corporation joined with Lake Forest College to form the Lake Forest College Industrial Management Institute (IMI) in 1946. IMI provided management training for returning veterans to help them transition into business. Since then LFGSM amicably separated from Lake Forest College, changed its name to Lake Forest Graduate School of Management, and established itself as a leading provider of both degree and non-degree business management education in the Chicago metropolitan area. LFGSM operates as an independent, private, not-for-profit organization. As an independent, not-for-profit enterprise, LFGSM is accredited by