What is the VCW method?

VCW landscape

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VCW elements

The VCW- Value Creation Wheel helps to identify and solve problems by providing a step-by-step dynamic process for creating value for society and all the stakeholders involved in the value chain (e.g., customers, employees, suppliers, distributors, investors, and shareholders).
The DIANA theoretical framework provides a holistic approach to problem-solving, which supports scientific, technological, managerial, and societal advancements trough a wide range of scientific methodologies and managerial approaches. The TIAGO practical tool appears as a chameleon framework, completely customized to each specific case and problem, being supported by DIANA’s accumulated knowledge over two decades.

VCW characteristics

VCW application method

The VCW is composed by five phases, going from the formulation of the problem/challenge to the final solution. Click the respective phase for further explanation:

Phase 1: How to discover value?

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Definition of the context & background, concerning the internal and external perspectives to get a clear knowledge about the market, the product and the team;

Research question: Definition of the problem to solve or the challenge to address.

Phase 2: How to create value?

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Induce solutions: generation of ideas/solutions to answer the problem/challenge;

Induce filters: generation of criteria/filters to select the ideas/solutions.

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Phase 3: How to validate value?

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Key decision makers: Analyze previous ideas/solutions and rank the criteria/filters.

 

Phase 4: How to capture value? 

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Application of the Value Creation Funnel (VCF) to narrow the number of potential solutions;

Drawing the concept and/or prototype for the final solution(s).

Phase 5: How to consolidate value?

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Operationalization: Go, No-Go or Go back. If applicable, apply the 3Ms and/or a Business Model to support the final decision;

Identification of next challenges & future partners.

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Value Creation Wheel Advantages

Helps to solve paradoxes and complex problems

Systematizes the generation of solutions

Releases the process of creating ideas

Organizes the selection criteria for those ideas

Enables organizations to simultaneously look inside and outside

Read the scientific paper:

Lages, L. F. (2016). VCW—Value Creation Wheel: Innovation, technology, business, and society. Journal of Business Research.

See the video:

VCW – Why? What? How?