This document discusses knowledge conversion capability (KCC) within organizations. KCC refers to an organization's ability to transform research and discoveries into successful commercial products. The medical device industry provides an example, as firms like Boston Scientific and Medtronic exhibit strong KCC due to institutional and technological diversity. KCC is difficult for most firms to build as it requires multi-disciplinary skills that take time to develop. The document outlines that KCC has three dimensions - conceptualization, configuration, and integration - and that developing all three dimensions is needed for a full KCC. It provides suggestions on how firms can improve their KCC, such as engaging with universities.