Definition - Capability
A team or company’s combination of skills, competencies, knowledge, processes, tools, and behaviors that allows them to Carry Out particular activities or achieve certain goals. Capabilities create the outcomes that customers are paying for.
Definition - Standard
Level of Performance required. May relate to a job role (person), team, company, materials, equipment, facility, etc. Required by business model as part of achieving strategic objectives.
Definition - Competency
The ability to do something (skill) at a certain level of performance (standard). A Skill Performed to Standard.