In this chapter, we make a case for the plurality of conceptual understandings as a constructive element in achieving theoretical progress in the field of research on dynamic capabilities. For this purpose, former members of the doctoral program on „dynamic capabilities and relationships “share their stories of how they came to understand dynamic capabilities, and how this way-finding has helped them advance their research. We argue that their theoretical progress has emerged not in spite, but because of the struggles they faced when engaging with conceptual ambiguities related to dynamic capabilities. This insight has important implications for dealing with the plurality of understandings advanced in the field of research on dynamic capabilities.