The VCW-Value Creation Wheel: A Framework for Market Selection and Global Growth

Abstract

Executives spend considerable time looking for solutions to deal with paradox challenges. However, there is a lack of practical frameworks to deal with their specific needs, namely: How to select the most attractive international market in the presence of so many choices? How to benefit from economies of scale while satisfying local needs? How to explore the true potential of products/services in the target markets? How to explore a company’s growth potential in the presence of limited resources? How to provide international customers the same level of service given to the domestic ones? Over the last two decades, the VCW-Value Creation Wheel helped firms to deal with the paradox of choice and helped executives find solutions for these and many other challenges. This chapter demonstrates how the VCW meta-framework has been successfully implemented by firms to deal with international challenges while incorporating the insights of key decision makers and inputs from key internal and external stakeholders. VCW’s implications for research and practice are discussed.