While important conceptual advancements have been made concerning the role of dynamic capabilities (DC) and how they are developed, empirical work in the area is still scarce. Further, empirical studies are hampered by the lack of precision as to measures used to study DCs. In order to test theory, and thus develop the field further, we must have access to valid measures of the key constructs. In particular, this is important to distinguish between DC’s and business outcomes. The purpose of this paper is twofold:

(1) We aim to develop a measurement instrument to gauge Teece et al’s (1997) as well as Eisenhardt and Martin’s (2000) conceptualization of DCs. This provides the theoretical domain for the measurement instrument.
(2) We aim to empirically validate this measurement instrument. This includes an examination of discriminant validity through comparisons with the widely used entrepreneurial orientation scale (EO) (Covin & Slevin, 1989) and measures of intangible resources (Barney, 1991).