What is the Value Creation Wheel (VCW)?


The Value Creation Wheel (VCW) is a framework for change management, decision making and innovation.

The VCW is designed to identify solutions to complex problems involving key decision-makers in different phases and stakeholders to generate solutions and filters to select the best ideas.

What is Value Creation in the VCW?


The VCW defines value creation as the benefits received by Key Decision Makers (KDMs) and their stakeholders resulting from VCW solutions, minus the required resources (e.g., 3Ms- Manpower, Money, Minutes) to develop those solutions. Hence, the value created by the VCW implies allocating resources to receive something of higher worth.

The five stages of the VCW

VCW Sprint

  • Key Decision Makers (KDMs) present a diagnostic and define the available resources (3Ms: Manpower, Minute & Money). They present the challenge/problem and establish the expected Key Performance Indicators (KPIs).

  • Many people (e.g., VCW team, stakeholders, and KDMs) generate numerous ideas and criteria to solve the challenge. In this phase, ideas and criteria should not be evaluated.
    There are no good/bad ideas and criteria.

  • The KDMs select the best ideas and best criteria to solve the challenge. They establish a ranking for the criteria that are compulsory. Weights are then given to the optional criteria. Stakeholders might be invited for the discussion.

  • The selected ideas go through the ranked filters and through the weighted optional filters until finding the final solutions.
    They will then be conceptualized and/or prototyped. Stakeholders and KDMs might be involved in this analysis and discussion.

  • The final solutions need to be operationalized by KDMs and stakeholders. KDMs validate the available resources (3Ms) and implement and monitor the execution of the final solutions. Stakeholders might be engaged in this phase.

Previous Projects

  • Which one is the best Market Application for Big Data?


    VCW applied to SenSyf-Earth Satellite Observation

    Deimos is a R&D company composed by top-engineers that are specialized on the development of technological solutions within the space engineering sector. This tech-led company is now facing a major challenge: How to bring breakthrough technologies that are in the shelf to the market?

    In order to solve this challenge Deimos applies the VCW to identify the market application with the highest potential for SenSyf, a system that has the potential to use earth satellite observation data for a wide range of purposes.

  • Which International Market is more suitable for an Innovative Technology?

    VCW applied to MyFarm irrigation system

    MyFarm irrigation management system allows maize producers to monitor vegetation’s growth and diseases. Moreover, it provides weekly information on the amount of water to be applied by pivot or sprinkler.

    MyFarm ended in the domestic market because users ere conservative and skeptical towards new technologies. In order to extend its product life-cycle, the VCW team identified the international market with more potential for MyFarm service.

  • How to create an Innovation Ecosystem?


    VCW Ecosystem at INCM- the Portuguese Mint

    To address the new challenges of the 21st Century, INCM-Imprensa Nacional Casa da Moeda, has applied the VCW Innovation Ecosystem in order the systematize the innovation process and develop an innovation culture inside the organization.

    To engage different stakeholders in the new innovation ecosystem, the VCW developed a project in partnership with NTT Data-Everis with the goal of finding out how to cut costs while creating value and making this organization more efficient.

Welcome

VCW Lab

@ Nova SBE


We help others make better decisions


We contribute for better innovation, decision making and problem solving, while constantly improving the VCW method. We develop and test a wide range of VCW’s products and services, always supported by research & development (R&D), testing, go-to-market, comercialisation, and sustainable sales.

VCW Creator


Luís Filipe Lages


Luis Filipe Lages is Full Professor and Director of the VCW Lab at Nova School of Business and Economics. He was a Visiting Scholar is several schools across the globe including LBS, MIT Engineering School, MIT Sloan School of Management, and Stanford Graduate School of Business. He is a Professor of Innovation, Value Creation, Marketing Strategy, International Marketing, and Managerial Decision Making. Among others, he was recipient of the “American Marketing Association Global Marketing SIG Research Excellence Award”. His work has been presented to corporate, business, governmental and university audiences across the globe and appeared in the main international business media such as Time & Wall Street Journal.

Visit Us!

VCW Lab @ Nova SBE
Nova School of Business and Economics
R. da Holanda 1, 2775-405 Carcavelos

 

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