VCW 4 Leaders: Strategic Problem Solving
A framework for generating innovative solutions and driving organizational change.
How can leaders use the VCW?
The Value Creation Wheel (VCW) helps leaders address critical challenges, fostering innovation and guiding strategic decisions, for company-wide impact and improvement.
Overview
The presentation described how leaders can use the VCW framework. It covered the key stages, starting with understanding the company's context. Real-world applications were presented, showcasing how the VCW helped organizations like Jerónimo Martins, Mastercard, and Casa da Moeda. The framework helps with solution idea generation, and the making decision of busineses
Application: Steps of VCW use for Leaders
Context (Phase 0): Identify the level of the problem (board, business unit, department), key decision-makers, and critical challenges.
Problem Definition: Formulate the central question or challenge that needs to be addressed.
Solution Generation: Brainstorm a wide range of potential solutions, emphasizing quantity over quality initially.
Filter Generation: Identify criteria to evaluate the solutions, involving diverse perspectives, including "devil's advocates."
Funnel: Apply the filters to the solutions, narrowing down the options to the most promising ones.
Operationalization: Develop the chosen solutions, using tools like business models, and create action plans (man, minute, money).
Implementation and Control: Monitor progress, adjust as needed, and consider long-term growth and scaling.
Key Takeaways
Structured Approach: The VCW provides a systematic way to tackle complex business problems.
Stakeholder Involvement: Engaging diverse stakeholders, including internal and external, leads to better solutions and filters.
Board Alignment: The board's involvement is crucial for selecting the most relevant solutions and filters.
Adaptability: The VCW can be customized to fit a specific organization's needs, as seen with Casa da Moeda.
Innovation Culture: The VCW can become a core tool for fostering a culture of continuous problem-solving and innovation.
Conclusion
The VCW is a powerful tool for leaders to solve strategic issues and support innovation. It is flexible and may be adjusted to different firms and settings.