Just heard a keynote talk from Prof David Teece – father of the ‘dynamic capabilities’ concept. He has an outstanding record not only as a top strategy prof but also as entrepreneur and consultant … problem is no-one I spoke to could work out what exactly he means.

To summarise the idea [if I get it right?] – if ‘capabilities’ are our abilities to run things and build things as we are in the business and competitive environment we face today, ...