As a Key Decision Maker (KDM), how can I use the
VCW-Value Creation Wheel® to find solutions to MY challenges?

 SELECTED VCW  READINGS

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VCW VIDEOS AND PROJECTS

  • Please explore over 300 VCW videos and projects developed by the VCW Lab and its partners at openVCW.com

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LATEST NEWS FROM OUR VCW CENTER @ NOVA

VCW Internship Program: The VCW Center@Nova is currently hosting students.

The VCW Center @Nova, Portugal in the wonderful campus of Nova School of Business and Economics in front of the ocean, enables students (undegraduates and graduates) from different fields to do do an internship while having a unique experience at Nova SBE Ecosystem.

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”.

WHO OWNS THIS WEBPAGE?

This webpage belongs to the VCW Lab of the VCW Center @ Nova, which has its headquarters at Nova School of Business and Economics, Portugal. This webpage exists  exclusively to inform worldwide VCW partners and advanced VCW users about VCW research outputs, VCW research projects, and VCW R&D state-of-art (this version: 18/01/2019). In partnership with the VCW Lab, each VCW official partner can develop its own VCW webpages, VCW proposals and VCW products/services customised for its customers. Examples of VCW partnerships and customers might be found at at www.openVCW.com

WHY THE VCW?

  • As Key Decision Makers (KDMs) we are unique, we are powerful, we can have an impact! Depending on the context, we all can be KDMs. Examples of KDMs include CEOs, Directors of Departments, Intra- and Entrepreneurs, Consumers and Ourselves while managing our daily life. However, KDMs have a wide range of challenges/problems which are hard to solve, due to a wide range of reasons such as problem complexity, lack of support,  lack of choice or too many options, lack of creativity and imagination, difficulties in integrating different perspectives, and/or inexistence of an established problem-solving process which can help KDMs solve their challenges/problems.
  • As a KDM, the VCW can help you to solve your challenges/problems. The VCW starts by defining a challenge/problem using the KDMs. Then, it identifies a wide range of solutions and criteria/filters to solve the challenge/problem, and the KDMs analyses them. Then the VCW narrows the ideas using the filters, and implements the final solution(s).
  • The VCW defines the Key Decision Maker (KDM) as someone, or a group of people (KDMs), who is committed and has the power to solve a challenge/problem at the organizational and/or individual level. To become a KDM is critical to have access to critical resources, i.e. the 3Ms (Manpower, Minute and Money). The KDMs need to be involved in the solving the challenge/problem and, consequently, in the VCW process, because they are the only ones who can implement a solution and define the real challenge/problem.
  • In addition to KDMs, the VCW can be used by all the people (e.g., employees, consultants, and other stakeholders), which were empowered and desire to help KDMs to take their decisions in a better way.

The VCW as a solution for KDMs:

  • The VCW is a problem-solving decision making framework which helps the KDMs and people supporting them to find justified, well-supported and convincing solutions.
  • VCW’s effectiveness was proven to solve the challenges in the context of start-ups, NGOS, SMEs, and Large Organizations. For examples of companies which have previously applied the VCW see section below.
  • The VCW is a meta-framework which finds solutions while complementing, integrating and/or being integrated by tools from different fields.
    • The VCW has proven to provide well supported and convincing solutions to a wide range of relevant problems/challenges of KDMs across different industries and countries.
    • The VCW does not impose to KDMs any pre-established solutions and magic formulas. It is a structured and agile meta-framework, which has the capability to integrate, be integrated and/or complement the more traditional “in-the-box” formulas/matrices with “outside-the-box” and “no-box” tools, frameworks and theories across different fields.
    • The VCW can combine the different perspectives of KDMs and stakeholders, and get their overall in the implementation of the final solution(s).

Who has been using the VCW over the years?

  • At the organizational level, the VCW has been used by:
    • leaders, owners, C-Level, directors and other key decision makers for  innovation governance, technology-transfer, transform strategy into tactics, product and/or market growth, organizational transformation and corporate change, internationalization, corporate innovation and intrapreneuship, overcome the lack of communication across departments, and other challenges.
    • KDMs which are directors of SBUs and departments (e.g., MKT, HRM, OM, IB, INOV) to find transversal solutions across different fields for their specific challenges,
    • Employees, consultants and others providing support to KDMs of organizations, governments, societies and NGOs,
    • Entrepreneurs to solve their daily challenges of start-ups (e.g., find the right partners, tech-transfer, financing, go-to-market) as well as Intrapreneurs to address their organizational challenges.

    Hundreds of organizations across different sectors, in over 20 countries, have collaborated with VCW teams. Examples of organizations include Aga Khan Development Network, Ageas, Airbus, AstraZeneca / Santis, AXA, Bank of Cyprus, C.A. Papaellinas group, Cathay Pacific Airways, Cyta-Vodafone, Claranet, Credit Suisse, Crowne Plaza, Deimos-Elecnor Group, Eurocopter, Everis-NTT Data, Forbach city, Flying Tiger, Four Seasons, Gemalto, GDF Suez, GirlMove, IGT, INCM, InvestLisboa, IPO Porto, ITER, Healthcare City, Jerónimo Martins, Liga Portugal, Lufthansa Technik, Mastercard, 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.

  • At the educational level, the VCW has been used by professors and students in over 20 countries, in courses across different fields, as a supporting tool for projects at the individual and organizational level (e.g., innovation, value creation, consulting, entrepreneurship, decision making, marketing, int. business, strategy, business law, bioentrepreneurship, air traffic management) which involve the KDMs. Tipically these courses have a strong practical component and require a strong involvement of KDMs in students’ real VCW projects.
    Examples of leading universities where the VCW was used for research and education include Aalto University, Babson College, CIIM, City University of Hong Kong, Goethe University Frankfurt, MIT, Marseille University, Nordakademie, Nova University, Korea University, Solvay University, Vienna University, Warwick University, among many others.
  • The VCW has also been used for years by Individuals (myVCW) to find supported and convincing solutions to solve their challenges and problems. The VCW works particularly well when solving personal challenges/problems because quite often at the individual level there is a single KDM. It has been successfully used at the individual level to answer for example:
      • What is my value proposition for the job-market?
      • What is my life purpose?
      • Where shall I emigrate?
      • How to better organize my time?
      • How can I quit smoking?
      • How can I find an extra income?
      • What to do in my free time?
      • How to find my partner?
  • The VCW has also been used by Consumers/Buyers, to find solutions for important challenges when there is a lack of choice or too much choice.  It has been used to find for example:
    • Which house to buy?
    • Which car to buy?
    • Which computer to buy?
    • Which school/university to enter?
    • Where to go on holidays?
    • How to design our new house?

For which kind of questions and challenges/problems has the VCW been really popular?

  • The VCW has been very  popular to answer divergent questions (e.g., what is the best market segment for my product/service) and/or convergent questions (e.g., which criteria shall I use to select the best market).
  • The VCW is often used to address HOW, WHAT, WHICH, and WHO questions. By the end of the VCW process it becomes possible to answer questions which require deep critical thinking skills (e.g., Why this option and not other? When and how shall we implement the solution?).
  • At the organizational level, it has been very popular in Innovation and New Product Development (e.g., to find the right product/service for a market need), Engineering/Technology (e.g., Technology Transfer, find unique selling point), Marketing (e.g., to find the right value proposition, and target market), Branding/Communication (e.g., to find the right brand, slogan, message), HRM (e.g., how to hire highly qualified people with limited resources, how to motivate my employees over the long-term), Strategy (e.g., to create new markets, differentiate from competitors, repositioning strategy) and International Business (e.g., find the right distributors in market X, which markets to export my products/services).
  • At the personal level, the most popular challenges have been a) what should be my value proposition for the job-market, b) what is the most appropriate job for myself,  and c) where to emigrate?
  • It is frequently used to address the value-cost trade off, (in)existence of options and the paradox of choice. Other paradoxes also addressed include GloCal paradox & tech-push / market-pull paradox, paradox of closeness/openess, coopetition/competition paradox.

For which kind of problems the VCW should not be used?

  • When the KDMs are not involved and committed to the problem and VCW process,
  • When the KDMs have no power and/or access to the 3Ms (Manpower, Minute and Money),
  • When the KDMs do not believe in co-creation and innovation for idea generation and problem-solving.

 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).

WHICH SERVICES ARE OFFERED BY THE VCW?

The VCW offers a wide range of services in educationtraining, corporate governance and consulting. These services are offered to universities, executivescompanies, organizationsprimary schoolstrade associations, partnerships between different organizationsevent organizers, and NGOs. These services are customized and developed by the VCW for team building activities and help organizations and individuals to solve their own problems/challenges. The VCW team is also highly specialized in supporting Corporate Governance, namelly by creating VCW Innovation Ecosystems inside those organizations which desire to involve different stakeholders to develop a systematized innovation process (watch example).

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.

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.

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

This video presents the highlights of the VCW 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

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