Capability management is a scholarly concept and methodological approach centered on the systematic identification, definition, development, and strategic alignment of an organization's core abilities or 'capabilities'. It investigates the processes by which entities determine 'what they do' independent of structure, assess the maturity and performance of these capabilities, and implement initiatives for their enhancement and integration across the enterprise. Key characteristics include a focus on strategic linkage, process improvement frameworks, cross-functional perspective, and performance assessment. Its significance lies in providing a framework for organizations to effectively translate strategy into operational reality, optimize resource allocation, and foster organizational resilience and adaptability.