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VCW—Value Creation Wheel: Innovation, technology, business, and society

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  • Luis Filipe Lages

Abstract

Similar to animal and plant species, companies and society also need to adapt to the environment or they disappear. This adaptation process implies solving paradoxical problems, overcoming crises, and addressing constant challenges. The Value Creation Wheel (VCW) helps to identify, analyze, 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). Two decades of cooperation with companies, executives, scientists, academics, and students across the world have provided ample opportunities to test and refine the VCW. The VCW has two major components: DIANA and TIAGO. After the 20-year journey of applying the principles of Darwinism to companies and society, the DIANA theoretical framework provides a holistic approach to problem-solving and supports scientific, technological, managerial, and societal advancements. The TIAGO tool appears as a chameleon puzzle, completely customizable to each specific case and problem. The 15 Is of innovation and the input provided by a wide range of stakeholders help to customize the TIAGO tool.

Suggested Citation

  • Luis Filipe Lages, 2016. "VCW—Value Creation Wheel: Innovation, technology, business, and society," Nova SBE Working Paper Series wp600, Universidade Nova de Lisboa, Nova School of Business and Economics.
    • Handle: RePEc:unl:unlfep:wp600
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    References listed on IDEAS

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    1. Eric von Hippel, 1986. "Lead Users: A Source of Novel Product Concepts," Management Science, INFORMS, vol. 32(7), pages 791-805, July.
    2. Luis Filipe Lages & Sandy D Jap & David A Griffith, 2008. "The role of past performance in export ventures: a short-term reactive approach," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 39(2), pages 304-325, March.
    3. Coelho, Filipe & Augusto, Mário & Lages, Luis Filipe, 2011. "Contextual Factors and the Creativity of Frontline Employees: The Mediating Effects of Role Stress and Intrinsic Motivation," Journal of Retailing, Elsevier, vol. 87(1), pages 31-45.
    4. Lages, Luis Filipe & Fernandes, Joana Cosme, 2005. "The SERPVAL scale: a multi-item instrument for measuring service personal values," Journal of Business Research, Elsevier, vol. 58(11), pages 1562-1572, November.
    5. Lages, Carmen & Lages, Cristiana Raquel & Lages, Luis Filipe, 2005. "The RELQUAL scale: a measure of relationship quality in export market ventures," Journal of Business Research, Elsevier, vol. 58(8), pages 1040-1048, August.
    6. Luis Filipe Lages, 2015. "How to grow, create and capture in domestic and international markets," Nova SBE Working Paper Series wp599, Universidade Nova de Lisboa, Nova School of Business and Economics.
    7. Cooper, Robert G., 1990. "Stage-gate systems: A new tool for managing new products," Business Horizons, Elsevier, vol. 33(3), pages 44-54.
    8. Jahanmir, Sara F. & Lages, Luis Filipe, 2016. "The late-adopter scale: A measure of late adopters of technological innovations," Journal of Business Research, Elsevier, vol. 69(5), pages 1701-1706.
    9. Lages, Luis Filipe & Silva, Graça & Styles, Chris & Pereira, Zulema Lopes, 2009. "The NEP Scale: A measure of network export performance," International Business Review, Elsevier, vol. 18(4), pages 344-356, August.
    10. Lages, Luis Filipe & Mata, Jose & Griffith, David A., 2013. "Change in international market strategy as a reaction to performance decline," Journal of Business Research, Elsevier, vol. 66(12), pages 2600-2611.
    11. Jahanmir a,b,c,, Sara F., 2016. "Paradoxes or trade-offs of entrepreneurship: Exploratory insights from the Cambridge eco-system," Journal of Business Research, Elsevier, vol. 69(11), pages 5101-5105.
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    3. Jahanmir, Sara F. & Cavadas, Joana, 2018. "Factors affecting late adoption of digital innovations," Journal of Business Research, Elsevier, vol. 88(C), pages 337-343.
    4. Jahanmir a,b,c,, Sara F., 2016. "Paradoxes or trade-offs of entrepreneurship: Exploratory insights from the Cambridge eco-system," Journal of Business Research, Elsevier, vol. 69(11), pages 5101-5105.
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