Integrated Venture Map (IVM)
The Integrated Venture Map (IVM) enables us to put all our information concerning current and past ventures into a common format to facilitate assessment. The IVM is not only useful for assessing current and past ventures but is also extremely useful in developing the venture strategy and planning new ventures. The IVM can best be understood by going through an example, that of the Cagey Computer Corporation, shown in Figure A-1.
The initial entries, shown in the first column of the IVM, provide the status of products, markets, and processes at the beginning of the map. As shown in the product section of Figure A-1, the Cagey Computer Corporation has a product line consisting of two product families: one composed of three computers (Cl, C2, and C3) and the other composed of three printers (Pl, P2, and P3). Looking at the market section, we see Cagey is marketing its products in two markets: a Consumer (C) market and an Industrial (1) market. As shown by the initial entries in the IVM in 1990, they are marketing products c1, c2, p1, and p2 in the Consumer (C) market and products c3 and p3 in the Industrial (1) market. Looking at the process section, we can see they are producing the computers (c,1 c2, and c3) in their Boston (B) plant and the printers (p1, p2, and p3) in their Hartford (H) plant.
After the initial entries in each area (each horizontal line), there will be no further entries until there is a change. Products, markets, or processes that undergo change and cause new entries are indicated by underlined bold italics on the IVM. Development efforts are indicated by dotted lines, with the type of development denoted by three-letter abbreviations, which were explained in Figure 2-1 and the ensuing discussion. For example, on line 5 in column 1991, entry (P1-COST-P11) indicates that product P1 underwent a cost reduction type of development and was replaced by the lower-priced product Pll. To