In the last three decades, strategic management scholars have explored the organization’s need to reconfigure its capabilities to leverage opportunities in a changing environment. The first objective of this study was to identify the underlying elements of the managerial processes of dynamic capabilities, and to offer a reconceptualization of the dynamic capabilities construct. The second objective of this investigation was to determine how the reconceptualized dynamic capabilities construct could influence the alignment of ordinary capabilities. Findings from this investigation indicate that organizational processes and managerial processes are unique components of dynamic capabilities. In addition, these organizational processes were found to be significantly and positively correlated with the alignment of ordinary capabilities. Furthermore, managerial processes were found to moderate the relationship between organizational processes and one type of ordinary capability alignment (i.e. innovation-operations capability alignment). Taken together, the findings of this study support the notion that dynamic capabilities are context specific, and that understanding how they influence the organization’s ability to change is complex. The developments and findings in this study offer a reconceptualized and empirically tested framework for the capability alignment process, thereby providing a more comprehensive picture of the underlying processes.