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Asset mapping is part of the discovery phase of the ViTAL Economy (VE) Journey. It typically is implemented after an economic region creates measurable CED vision and goals. The VE Asset Mapping Tool™ supports a region’s transition from a needs-based to an asset-based CED process, where economic strategies leverage the region’s indigenous resources.
Our asset mapping approach is unique in that it incorporates “opportunity analysis.” Opportunities are found by identifying what is truly unique in the region, blended with an entrepreneurial climate. Analysis asks key questions about the asset’s current status, how it can be leveraged and the value of such leverage. Opportunity analysis is the first step in building a business case for an asset.
The VE Asset Mapping Tool™ uses two distinct asset-mapping processes:
Indigenous Resources mapping – this process provides a disciplined process to discover a region’s unique assets and its competitive advantages. The discovery includes both tangible assets such as infrastructure, and intangible assets such as excellence, innovation and knowledge.
Industry Cluster Value Chain mapping – this process defines the entire producer-to-consumer chain, the value of transactions, the location of the chain element and trends. Opportunity analysis identifies local gaps in the value chain and develops strategies for moving the producer closer to the consumer, thereby increasing prosperity to the region.
The VE Asset-Mapping Tool is web-based to allow 24/7 access and open analysis of the information by all VE Journey participants. Information is placed into an online SQL database that includes complete data tables and asset relational reports. Contact us to see for yourself the impact this tool has on the VE Journey.