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

The VCW-Value Creation Wheel® is for the Key Decision Makers (KDMs)
who believe in the Power of Co-Creation
to take Reliable Decisions and Find Solutions for their Challenges

(VCW Lab version: 17/03/2019)

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VCW CASE-STUDIES & SCIENTIFIC ARTICLES

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WHAT IS THE VCW?

What is the VCW? (Video)

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

The VCW-Value Creation Wheel is a decision making framework supported by co-creation and collective intelligence, which helps the leaders who are Key Decision Makers (KDMs) to solve a problem/challenge. A KDM is defined as a leader who has power and access to 3Ms resources (Manpower, Minute and Money) in order to lead and solve challenges in his/her life, group, organization, or country. The VCW helps KDMs to find customized and consensual solutions for problems/challenges for which they are in charge.

Sharpen your Leadership Development with the VCW (video)

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The VCW is composed by 5 phases: 1) Discover Value, 2) Create Value, 3) Validate 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 that 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.

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VCW AND THE SUSTAINABLE DEVELOPMENT GOALS

The VCW has the capability to create partnerships and involve all the stakeholders in a clear decision making process. It helps them to be aligned in order to achieve a common solution which is transparent for all the different parts.

The VCW has been used to contribute to achieve the Sustainable Development Goals.

“A successful sustainable development agenda requires partnerships between governments, the private sector and civil society. These inclusive partnerships built upon principles and values, a shared vision, and shared goals that place people and the planet at the centre, are needed at the global, regional, national and local level.”

source: https://www.un.org/sustainabledevelopment/globalpartnerships/

Within this context, the VCW is currently being used to support three EU/ Horizon2020 applications in the fields of Aerospace, Oceans/Fishing, and Farming/Forests. In the past, the VCW supported different EU / Horizon2020 projects and helped to manage the consortium across different countries, the decision making process, and/or support transference of technology to the market. This was the case of:

Over the years, the VCW has contributed for Social Impact and contributed to address many of the Sustainable Development Goals (SDG). The projects professionally developed and subjected to NDAs are not presented in here. Below we present only the VCW videos of non-confidential projects, the great majority of them developed by students that are concerned with SDG:

• Goal 1: End Poverty in all its forms: video 1, video 2, video 3
• Goal 2: Zero Hunger: video 1video 2, video 3 (starts 3m57s), video 4, video 5
• Goal 3: Good Health and Well-Being: video 1, video 2, video 3, video 4, video 5, video 6, video 7, video 8, video 9, video 10, video 11
• Goal 4: Quality Education: video 1, video 2, video 3, video 4, video 5, video 6, video 7, video 8, video 9
• Goal 5: Gender Equality and Women’s Empowerment: video 1, video 2, video 3, video 4, video 5, video 6, video7
• Goal 6: Clean Water and Sanitation: video 1
• Goal 7: Affordable and Clean Energy: all projects developed by the VCW in this topic were confidential
• Goal 8: Decent Work and Economic Growth: video 1, video 2, video 3, video 4, video 5, video 6, video 7, videos 8, video 9, video 10, video 11, video 12, video 13
• Goal 9: Industry, Innovation and Infrastructure: video 1, video 2, video 3, video 4, video 5, video 6,  video 7
• Goal 10: Reduce Inequality: video 1, video 2, video 3, video 4, video 5
• Goal 11: Sustainable Cities and Communities: video 1, video 2, video 3, video 4, video 5
• Goal 12: Responsible Production and Consumption: video 1, video 2, video 3
• Goal 13: Climate Action: video 1, video 2
• Goal 14: Oceans & Life Below Water: video 1, video 2, video 3
• Goal 15: Life on Land: Biodiversity, Forests, Desertification: video 1, video 2
• Goal 16: Peace, Justice and Strong Institutions: video 1, video 2, video 3
• Goal 17: Partnerships for the Goals: video 1, video 2, video 3, video 4, video 5

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OTHER VCW MATERIAL & READINGS IN PORTUGUESE

Portugal/Brasil:

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VCW LAB:
A Laboratory for Research, Development and Testing of VCW Products/Services
powered by the VCW-Value Creation Wheel
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WHICH SERVICES ARE DEVELOPED BY THE VCW LAB?

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

The VCW Lab can develop the following products/services with its partners: 

  1. VCW events (e.g., challenges, talks, round-tables, conferences)
  2. VCW pre-university programs (e.g., for kindergartens, schools, high-schools)
  3. VCW university programs (e.g., for undergraduate and post-graduate programs),
  4. VCW courses in MBAs and EMBAs,
  5. VCW executive education (e.g., open-education, closed-education, customised education, corporate universities),
  6. VCW certification,
  7. VCW consulting (across different industries and fields of knowledge),
  8. VCW funded research projects (e.g., national governments, EU-Horizon 2020, ESA-European Space Agency),
  9. VCW research (e.g., MPhil & PhD thesis, post-doc projects, scientific papers),
  10. VCW spin-offs.

Each one of these products/services/actions have different degrees of complexity (theory and/or practice) and require different levels of engagement and resources (3Ms-Manpower, Minute & Money) by its partners and/or clients.

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VCW LAB AND ITS PARTNERS

VCW Lab partners include the VCW Center at Nova, consulting firms, and a wide range of organizations.

Please explore different examples of products/services resulting from partnerships with consultancy firmscompaniesorganizationsuniversitiescorporate universitiesexecutive education centers, primary schoolstrade associations,  event organizersNGOs, among many others.  The products/services developed by the VCW Lab are customized, together with its partners, with the final goal of helping organizations and individuals to solve their own problems/challenges.

Numerous examples of these products/services can be found at www.OpenVCW.com

In a relationship between the VCW Lab and its partners, the VCW can be used to:

  1. complement existing solutions of a partner (e.g., complementing solutions of organizations and consulting firms that have already their own solutions),
  2. be integrated into a larger project supervised by a partner (e.g., as a workpackage in Horizon 2020, as being part of the process of building a house),
  3. integrate tools developed by a partner (e.g., financial plans, business plans, business model canvas, design thinking), due to the fact of being a meta-framework, and/or
  4. develop and support corporate governance (e.g., through the creation of an innovation ecosystem) and coordination of an innovation process (e.g., coordinating different partners using the VCW to support the governance model).

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One of VCW’s premium services is to develop and support corporate governance, 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 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 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 Lab is to constantly develop new products/services and support scalability and growth of our partners around the world.

The VCW Lab is constantly looking for global 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, programming, strategy, technology).

The effectiveness of VCW’s partnerships is proven through projects in more than 20 countries which helped 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 Lab 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 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

The  VCW Center at Nova is supported by the VCW Lab and develops numerous products/services and go-to-market actions, quite often with different partners. Its products/services are present in numerous countries, industries, fields and functional areas.

VCW Student 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 undergraduate, graduate and post-graduate students from different fields to collaborate on a volunteer basis with the VCW Student Program at Nova SBE Ecosystem, while having the opportunity to design their own experience.

Which benefits can I get from joining the VCW Student Program as a volunteer at the VCW Center at Nova? Please explore this link.

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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 products developed by the VCW Lab together with its partners, are used in over 20 countries by KDM-Key Decision Makers (e.g., owners, C-Level, directors, individuals) of organizations, governments, societies and NGOs to find a customized solution for KDMs’ 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 customized solutions to the challenges of KDMs.

3) The VCW has a systematized 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 Lab, which has its headquarters at Nova School of Business and Economics, Portugal. The main goal of this webpage is to inform VCW’s partners, advanced VCW users, VCW’s internal and external stakeholders. This page is complemented by the page of the VCW Center at Nova where different products/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 develop 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