A value-chain strategy begins with capabilities.

PERSPECTIVE

Choose the activity

An industry label is too broad to guide an investment strategy. The useful unit of analysis is the activity: what firms would do, which inputs they need and where that activity sits in the production network.

Examine the requirements

Evaluate skills, suppliers, infrastructure and institutional requirements against the chosen activity. A capability gap is not automatically a reason to stop; it is a question about the time, resources and coordination needed to close it.

Sequence the next steps

A credible roadmap connects the present ecosystem to a feasible next activity. Separate immediate opportunities from longer-term ambitions and state what evidence would justify moving from one stage to the next.