This study represents one of the earliest attempts to bring together two siloed paradigms viz. design thinking and knowledge management process capabilities to propose a novel ambidextrous approach for developing dynamic capabilities in individuals. An alternative conceptualization of connection between design thinking and dynamic capabilities has been unfolded by empirically establishing that the effect of design thinking on dynamic capabilities of individuals is indirect and realized through the development of knowledge management process capabilities. Through rigorous statistical analysis, including subgroup analyses based on gender, design thinking training, and work experience, the study provides valuable insights for individuals and organizations seeking to cultivate dynamic capabilities. The newly developed assessment instruments can be used to identify strengths, weaknesses, and areas for development in these areas.