Capability management in business quickly or would not be very different from competitors' capabilities). Enabling capabilities are distinguished from supplemental capabilities in that they are required, but do not necessarily add value to core capabilities. A business capability is "what" a company needs to do to execute its business strategy (e.g., enable ePayments, tailor solutions at point of sale, demonstrate product concepts with customers, combine elastic and non-elastic materials side by side, etc.). Another way to think about a capability is that it is an assembly of people, process and technology for a specific purpose. Capability Management is the active management, over time, of
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