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Innovation & Value creation wheel

Objectives

According to the ?The Future of Jobs Report (World Economic Forum, 2020), the top 5 skills to be developed for 2025 are 1) analytical thinking and innovation, 2) active learning and learning strategies, 3) complex problem-solving, 4) critical thinking and analysis, and 5) creativity, originality, and initiative. This course will contribute to developing these 5 skills by applying the "VCW?Value Creation Wheel?, an innovation and decision-making method which will be used as a consultancy and teaching methodology for problem-, experiential-, and practice-based learning. The VCW will be used as a meta-framework integrating different tools to innovate and provide overarching solutions for complex problem-solving. 


General characterization

Code

2485

Credits

7

Responsible teacher

Luís Filipe Lages

Hours

Weekly - Available soon

Total - Available soon

Teaching language

English

Prerequisites

n/a 


Bibliography

Before each session (final schedule will be presented at the beginning of the semester), students should read a set of articles for a much better understanding of key concepts across different fields (e.g., innovation, value creation, problem-solving, strategy, marketing), which will be applied during each specific lesson. Required readings are presented in the syllabus session by session.

Teaching method

Each class is 1h20m. day There are two classes in the same with a 10m break in between. The classes consist of discussions about both the theory and its applications with examples from different fields. Particularly, the first class will be mostly about theory, and the second part about practical applications within the projects. The key decision makers will be invited to the classes and will need to play an active role in phases 1, 3, and 5 of the VCW-Value Creation Wheel. 

This will be a real consulting project and consequently, you will be working together with the key decision-makers and different stakeholders, which have limited time but can provide you with deep insights in a very short period. You are expected to get involved, participate, question, and do exercises inside and outside the class. To provide practical advice and help launch students on a successful path, some classes will be outside the classroom and entirely reserved for the development of the coursework. 


Evaluation method

Individual Participation and Class Attendance: 10%

Individual Evaluation by the Group (group grade x individual contribution): 20%

First Individual assignment: 10% Second Individual assignment: 10%

Third Individual Assignment: 10%

Final Team Video with the final PowerPoint report (45m-60m): 20%

Final Team Poster Presentation in Class: 20% 


Subject matter

There will be a major focus on solving REAL organizational challenges , such as solving organizational challenges regarding products, services, processes, technologies, market applications, and strategy, while considering the need to develop sustainable solutions which create value. To do so, you will engage decision-makers and stakeholders in the project and make them feel that they have ownership of the final solutions. Examples of organizations that recently implemented VCW projects include Aga Khan Foundation, Airbus, Altran, AstraZeneca / Santis, AXA, Bank of Cyprus, Cathay Pacific Airways, Claranet, Cyta-Vodafone, Credit Suisse, Crowne Plaza, Eurocopter/Airbus Helicopters, Eurolife Insurance, Elecnor-Deimos, Everis-NTT Data, Flying Tiger, Forbach city, Four Seasons, GDF Suez, Gemalto, GirlMove, Government of Portuguese National Republic, InvestLisboa, IPO Porto, INCM-Casa da Moeda (Portuguese Mint), Jerónimo Martins, Liga Portugal, Lisbon MBA, Lufthansa Technik, ITER, Healthcare City, Mastercard, Marseille University, McDonald?s, Portuguese Minister of Justice, MIT, Montepio Acredita Portugal, Nova SBE, Nova University of Lisbon, Otis, Piraeus Bank, PJ- Portuguese Criminal Police, Refood, Renova, Rio Tinto Alcan, Santander, Thomson Reuters, Uniplaces, UPS, Vienna International Airport, among many others. (see www.OpenVCW.com ) For several decades, consultants and organizations have been using tools to solve complex multifaceted organizational problems. However, decision-makers and stakeholders often are not engaged with the final solutions and do not support their implementation. In this course, you will learn how to use the VCW-Value Creation Wheel to co-create, innovate and take decisions while incorporating different stakeholders? perspectives and conciliating divergent arguments to provide sustainable solutions.