Decision Support Models in a Complex Context

Objectives

A. Knowledge and Understanding about:
•what are the challenges associated with solving real problems for an organization or individual,
•the process of innovation and value creation using the Value Creation Wheel,
•the importance of considering stakeholders’ needs when solving problems/challenges,
B. Subject-Specific Skills about:
•how to innovate to create a successful solution,
•how to create value for existing customers and new customers,
C. General Skills about:
•how diverse tools and techniques from different fields might be combined to allow firms to operate in a complex and dynamic world using the VCW meta-framework,
•the value of working with people with mixed backgrounds and nationalities,
•the value of social responsibility when developing new solutions.

General characterization

Code

14207

Credits

Responsible teacher

Luis Filipe Costa Lages

Hours

Weekly - Available soon

Total - Available soon

Teaching language

Portuguese | English

Prerequisites

Available soon

Bibliography

• DELONG, T. J., & VIJAYARAGHAVAN, V. (2012). SHOULD YOU LISTEN TO THE CUSTOMER? HARVARD BUSINESS REVIEW, 90(9), 129-131
• FONSECA, VÂNIA; LAGES, LUIS FILIPE; KIM, PHILIP H. (2018), “DEIMOS: EXPANDING TO A NEW MARKET USING THE VALUE CREATION WHEEL“, CASE BAB370-PDF-ENG, HARVARD BUSINESS PUBLISHING.
• LAGES, LUIS FILIPE (2016), “VCW—VALUE CREATION WHEEL: INNOVATION, TECHNOLOGY, BUSINESS, AND SOCIETY“, JOURNAL OF BUSINESS RESEARCH, 69(11): PP. 4849-4855.
• LAGES; LUIS F. RICARD, ANTONIN; HEMONNET?GOUJOT, AURÉLIE; GUERIN, ANNE?MARIE (2020), “FRAMEWORKS FOR INNOVATION, COLLABORATION, AND CHANGE: VALUE CREATION WHEEL, DESIGN THINKING, CREATIVE PROBLEM?SOLVING, AND LEAN“, STRATEGIC CHANGE, 29(2), 195-213.
• LAGES, LUIS FILIPE; FONSECA, VÂNIA; PAULINO, MIGUEL (2018), “THE VCW-VALUE CREATION WHEEL: A FRAMEWORK FOR MARKET SELECTION AND GLOBAL GROWTH“, IN: LEONIDOU L., KATSIKEAS C., SAMIEE S., AYKOL B. (EDS) ADVANCES IN GLOBAL MARKETING. SPRINGER,

Teaching method

This course will be supported by both theoretical and practical components. To provide practical advice and help launch students on a successful path, students will be working in a project in the class. This will help students to get deep insights in a very short period.

Evaluation method

The assessment of this curricular unit is done together with the block of curricular units of the same area of knowledge. This assessment has 3 moments, which together define the final grade of the curricular unit:
• Individual exam with a weighting of 50% of the total mark
• Group work with a weighting of 35% of the total grade value
• Individual reflection-action exercise carried out at the end of the curricular unit, with a weighting of 15% of the total grade value. The set of individual action-reflection exercises is a journaling activity, which will constitute, at the end, a learning portfolio capable of synthesising the contributions of the Executive Master for that student.

Subject matter

1. Introduction to Decision Making Methods
2. Application of the VCW meta-framework for Decision Making
a. Discover Value: Key Decision Makers (KDMs) present a diagnostic and the challenge/problem. They define the 3Ms available for the VCW project (Manpower, Minute & Money), and establish the Key Performance Indicators (baseline KPIs & desired KPIs).
b. Create Value: Stakeholders generate numerous ideas and criteria/filters to solve the challenge;
c. Validate Value: KDMs select ideas, select and rank the criteria/filters to solve the challenge.
d. Capture Value: The selected ideas go through a funnel of ranked filters (or MCDA) until finding the final solution(s), which will then be conceptualized and/or prototyped.
e. Consolidate Value: KDMs validate the 3Ms & business model, the implementation of the final solution(s), assess achieved KPIs, monitor the execution, and develop a sustainability plan.

Programs

Programs where the course is taught:

Master's in Innovation and Entrepreneurship - Executive