VCW-VALUE CREATION WHEEL®: A NEW WAY OF THINKING

The VCW-Value Creation Wheel® is a New Way of Thinking for Key Decision Makers (KDMs) to take Reliable Decisions and Find Solutions for their Challenges

WHAT IS THE VCW?

As a KDM, how can I use the VCW to solve my challenges?

VCW-Value Creation Wheel is a decision making framework, which helps Key Decision Makers (KDMs) to find customized and consensual solutions for their problems and challenges. It is being used by KDMs to solve from personal challenges to the problems of the largest organizations in the world.

The VCW is composed by 5 phases: 1) Discover Value, 2) Create Value, 3) Validade Value, 4) Capture Value, and 5) Consolidate Value. The VCW and its phases are capable of complementing, be integrated and/or integrating  existing frameworks, models and tools across different fields. This explains why the VCW is known worldwide as a meta-framework.

The VCW follows a structured and dynamic process which involves the KDMs and their stakeholders (e.g., customers, employees, suppliers, distributors, investors, & shareholders) in the problem-solving process. Through a co-creation process, different parts of the ecosystem are invited to generate ideas to solve a challenge as well as the filters/criteria to select those ideas. Nevertheless, the KDMs have the final word in deciding the initial challenge and KPIs (phase 1), selecting the main ideas and criteria (phase 3), and validating the implementation and monitoring achieved KPIs (phase 5).

Source: Lages, Luis Filipe (2016), “VCW-Value Creation Wheel: Innovation, technology, business, and society”, Journal of Business Research, 69(11), 4849-4855.

SELECTED VCW  MATERIAL & READINGS

What is the VCW? (Video)

USA/UK:

Portugal/Brasil:

 

WHICH SERVICES ARE DEVELOPED BY THE VCW GLOBAL LAB?

The VCW Global Lab has it headquarters at Nova School of Business and Economics in front of the beach in Carcavelos/Cascais. This Lab develops a wide range of products/services in educationtraining, consulting and/or corporate governance which are brought to the global market by its partners.

VCW partner include companies,  organizationsuniversities, executive education centers, primary schoolstrade associations, different organizationsevent organizersNGOs, the VCW Center at Nova, among many others.  The products/services developed by the VCW Global Lab are customized with its parners to help organizations and individuals to solve their own problems/challenges.

One of the premium services of the VCW team is to support Corporate Governance, namelly through the creation/development of VCW Innovation Ecosystems inside  organizations, which desire to involve different stakeholders to develop a systematized innovation process (watch example). This VCW Innovation Ecosystem is built on three fundamental layers:

  1. The VCW Governance Model that establishes the main responsibilities and functions for the innovation management challenges.
  2. The VCW Framework, which has five phases: 1) Identification of the problem to be solved. 2) Generation of solutions and filters. 3) Selection of main ideas and ranking of the “must have” and “nice to have” filters. 4) The VCF-Value Creation Funnel, followed by the development of concepts and prototypes. 5) The final decision phase, in which the implementation model for the final solution(s) is developed.
  3. The Network of Partners / Stakeholders, fundamental to increase the potential of the VCW framework. Through co-creation with all the stakeholders involved in the value chain (e.g., customers, employees, suppliers, distributors, investors, and shareholders), it becomes possible to solve the different problems/challenges in a consensual manner.

To explore examples of VCW products/services previously developed by the VCW Global Lab and tested in over 20 contries around the world visit www.openVCW.com.

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WOULD YOU LIKE TO BECOME ONE OF OUR
BUSINESS AND/OR TECHNOLOGICAL PARTNERS?

The VCW Global Lab is mostly focused in a) R&D activities, and b) testing market adherence and  viability of its problem-solving services/products (e.g., via education, workshops, training, events, and consultancy) across different industries and functional areas. Once the VCW Lab proves the market concept and market acceptance, together with its official partners (e.g., VCW Center at Nova). The main aim of the VCW Global Lab is to constantly develop new products/services and support scalability and growth of our partners around the world.

The VCW Global Lab is constantly looking for partners with know-how in specific industries (e.g., aerospace, auto, biotech, coaching, consulting, engineering, energy, healthcare, finance, law, logistics, media, retailing, science, software, technology, tourism) and/or functional areas (e.g., A.I., cloud, big data, digital, governance, HRM, innovation, leadership, marketing, M&As, operations management, programing, strategy, technology).

The effectiveness of VCW’s partnerships is proven through projects in more than than 20 countries which helpted to solve challenges of individuals, local governments, NGOs, start-ups, SMEs, large organizations, and numerous Fortune 500. 

Examples of organizations across the world who have applied the VCW method, often with the support of our partners, include: Airbus, AstraZeneca / Santis, AXA, Babson College, Bank of Cyprus, Cathay Pacific Airways,  Claranet, Cyta-Vodafone, Credit Suisse, Crowne Plaza, Deimos-Elecnor Group, Eurocopter, Flying Tiger, Forbach city, Four Seasons, GDF Suez, Gemalto, GirlMove, IGT, INCM, InvestLisboa, IPO Porto, ITER, Healthcare City, Jerónimo Martins, Liga Portugal, Lufthansa Technik, Mastercard, MIT, McDonald’s, OKTAN, Otis, Piraeus Bank, Renova, Rio Tinto Alcan, Santander, Santa Casa Misericórdia Lisboa, Technik, theCamp, Thomson Reuters, Uniplaces, UPS, Vienna International Airport, among many others.

Each VCW official partner, can develop together with the VCW GlobalLab its own VCW products/services, webpages, and proposals customised for its own B2G, B2B, and B2C customers.

Numerous examples of VCW R&D activities and VCW partnerships (e.g., products/services, workshops, training, events, consultancy, research projects) might be found at at www.openVCW.com

Both the VCW Global Lab and the VCW Center at Nova have their headquarters at Nova School of Business and Economics, Portugal. The establisment of win-win partnerships is our top priority. Please contact directly Professor Luis Filipe Lages (lflages @novasbe.pt), if you wish to discuss a win-win partnership. 

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LATEST NEWS FROM THE VCW CENTER AT NOVA

VCW Internship Program: The VCW Center at Nova is currently hosting students (see link).

We are welcoming students from different schools with diverse backgrounds. The VCW Center at Nova, in the wonderful campus of Nova School of Business and Economics in front of the ocean (Portugal), allows undegraduate, graduate and post-graduate students from different fields to do an internship at Nova SBE Ecosystem, while having the opportunity to design their own internship experience.

Which benefits can I get from doing an internship at the VCW Center at Nova? Please explore the internship link.

What is your passion? We will match your interests with our needs during your internship.  

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Luis Filipe Lages was recipient of the 2018 American Marketing Association Research in Excellence Award

This award recognised his JIBS 2008 work with Sandy Jap & David Griffith as “an outstanding article published in a widely recognized and highly respected refereed journal that has made a significant contribution to the literature on global marketing in previous 10 years”.

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 VCW IMPACT

The VCW is used in over 20 countries by individuals as well as owners, C-Level, directors and other key-decision makers of organizations, governments, societies and NGOs to find a customised solution for their problems and challenges. 

VCW’s components received coverage from leading international media (e.g., Time, Wall Street Journal), scientific publications (e.g., Harvard Business Publishing, Journal of Business Research, JIBS, Springer), and are taught in over 20 leading universities across the globe (e.g., Babson College, City University of Hong Kong, Korea University, Marseille University, MIT, Nova University of Lisbon, Vienna University).

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HOW DIFFERENT IS THE VCW FROM EXISTING TOOLS & FRAMEWORKS?

1) The VCW focus exclusively on solving challenges of KDMs. Moreover, it involves the KDMs in critical stages. This explains the high success rate of the VCW framework and why the majority of the final solutions are implemented.

2) The VCW meta-framework can complement, integrate or be integrated by other frameworks in order to find well justified, implementable and customised solutions to the challenges of KDMs.

3) The VCW has a systematised co-creation process of discovering customized, consensual and implementable solutions (Go/No-Go) for KDMs. As such, the final solutions are often supported by the different stakeholders.

4) The VCW creates value by offering supported solutions which can be defended by KDMs due to a sequence of well-established arguments. As such, the VCW simplifies and saves resources in the problem-solving process.

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WHO MANAGES THIS WEBPAGE?

This webpage is managed by the VCW Center at Nova, which has its headquarters at Nova School of Business and Economics, Portugal. The  VCW Center at Nova is a transversal R&D center, which is directly connected with the VCW Global Lab and develops numerous products/services and go-to-market actions, quite often with different partners. Its products/services are in numerous countries, industries, fields and functional areas. The main goal of this webpage is to inform VCW’s partners and advanced VCW users. This page is complemented by the page of theVCW Center at Novawhere differentproducts/services and actions are presented.

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CONTACT:

Contact the creator of the VCW (lflages@novasbe.pt) if you wish to become a VCW partner and/or find a tailored solution for your challenge.

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PORTUGUESE MEDIA (IN PORTUGUESE)

O que é a VCW para os media portugueses?

Qual a visão dos media brasileiros?

Qual o impacto da VCW a nível governamental, sectorial e áreas empresariais?

Prémios mundiais

Be the OWNER of YOUR best SOLUTION

How to maximize the individual’s potential while ensuring the participation of different partners / stakeholders?

How to manage different groups in complex situations, while sharing responsibilities and outcomes?
How to stimulate the generation of numerous ideas and then converge to the final solution(s)?

How to combine innovation and strategy, while integrating new and established tools?
How to involve different stakeholders?

How to engage people with different perspectives, while preserving the vision of the key decision makers?
How to incorporate different and/or conflicting perspectives and benefit from their input?

How to include C-Level and avoid hierarchy to kill individual creativity?
How to develop a strategy which allows benefiting from economies of scale while satisfying local needs (GloCal Vision)?

How to make a project grow (e.g., via new products or new markets) while preserving inheritances and cultural identities?

The VCW: Why? What? How?

Want to know more? Click here!

Meet the VCW creator

lfl

Luis Filipe LAGES is Full Professor (Catedrático) at Nova SBE, Portugal […]
Learn more about Luis F. Lages

Testimonials

Highlights of a VCW Annual Conference. The Portuguese Minister of Economy, Portuguese Secretary State of Health, different CEOs and Directors provide their perspectives on the VCW-Value Creation Wheel.
Over 20 speakers presented VCW problem-solving cases and/or discussed the importance of VCW for practice, public policy making and theory. All videos available at www.openVCW.com
We can bring some of the ideas coming from the VCW methodology, not only for business and market, but also for public policies and health.
Pedro Pita Barros, NOVA Health | Vice Chancellor of Universidade Nova de Lisboa
One of the advantages of the VCW is to help to anticipate, identify and evaluate impact.
João Viana Ferreira , EVERIS | Director
The VCW allows us to focus on the problem and analyze possible solutions from various sources, while enabling constant adjustments. The VCW can be used permanently in the organization to feed the innovation network.
Nuno Ferreira, INCM | Head of Section
The Value Creation Wheel model is very useful to understand reality, to model it, and then to use it for policies and policy making.
Peter Villax , HOVIONE | CEO
With the VCW we got fresh and out-of-the-box ideas. We can replicate the process to other products and services.
Aurélio Duarte, CLARANET | Marketing Manager
The path that this project has indicated will be implemented in the future new business plan for the company.
Marta Lopes, JMD | New Business Manager
I think innovation for the future should be much more methodical and method for innovation is exactly what the VCW is about.
Daniel Traça, Nova SBE | Dean
The VCW is a methodology that helps to focus in every aspect of a project, company or organization within the scope of problem-solving. With the VCW we can develop solutions regardless of any constraints.
João Valente, SURF Portugal | CEO

VCW in the news