In today’s fast-changing global environment, organisations face growing challenges when deciding where and how to expand abroad. The IMPACTWHEEL project supports European organisations in making structured, sustainable and impact-oriented decisions. Within this framework, the Value Creation Wheel (VCW) stands out as an effective methodology to guide complex strategic choices.
Originally developed to strengthen innovation and problem-solving, the VCW provides a flexible and rigorous framework. It helps decision-makers manage uncertainty, prioritise options and identify solutions that create long-term value. When applied to foreign market selection, it can transform an intuition-driven choice into a transparent and rational process aligned with sustainability and impact goals.
Why the VCW matters for Internationalisation
Choosing foreign markets is more than a commercial evaluation. It requires assessing opportunities, risks, organisational readiness, resource allocation and long-term positioning. For many SMEs, this complexity can feel overwhelming, especially when information is fragmented or processes are still evolving.
The VCW addresses these challenges by:
- offering a systematic approach to identify problems, generate alternatives and prioritise options;
- allowing teams to create shared criteria based on internal capabilities and external opportunities;
- supporting evidence-based and replicable decisions;
- encouraging collaboration by making priorities and assumptions explicit.
Thanks to its ability to integrate economic, organisational and sustainability factors, the VCW aligns naturally with the goals of the IMPACTWHEEL: helping organisations make better decisions that deliver measurable and lasting impact.
The IMPACTWHEEL Approach in Practice: A Collective Learning Path
As part of the IMPACTWHEEL project, Ceipiemonte — the regional agency supporting Piedmontese companies in their internationalisation efforts — delivered a multi-session training programme based on the VCW methodology. Through this initiative, 21 SMEs learned how to apply the framework to their own strategic processes.
1. From Complexity to Informed Choices
Participants used the VCW to assess both their export readiness and their internal decision-making structure. This first step was essential. Before selecting a market, companies must understand their strengths, limits and available resources.
2. From Data to Meaningful Criteria
Through a structured workflow, SMEs identified the key factors that matter in market selection. These included trends, market size, accessibility, risks, competition and alignment with internal capabilities. The VCW helped create a shared language and reduced the risk of biased or arbitrary choices.
3. From a Long List to a Strategic Shortlist
Using VCW filtering tools, companies analysed a wide range of potential markets and reached a clear and focused shortlist. This method allowed them to move beyond intuition, reduce uncertainty and build stronger consensus around strategic decisions.
4. From Methodology to Cultural Change
Perhaps the most important result reflected the long-term vision of IMPACTWHEEL. Participants saw the VCW not only as a one-off tool, but also as a mindset that can influence organisational culture, governance and strategic planning.
How the VCW Strengthens the IMPACTWHEEL Mission
Applying the VCW to internationalisation highlights the broader ambition of the IMPACTWHEEL project. It aims to:
- build internal capacity for responsible and evidence-based decision-making;
- promote transparency and collaboration in strategic processes;
- encourage companies to consider long-term sustainability alongside economic returns;
- support SMEs in adopting decision models usually used by larger organisations.
The Ceipiemonte experience is therefore more than a training activity. It demonstrates how IMPACTWHEEL helps organisations adopt structured approaches to value creation, resilience and sustainable growth.
A Path Forward
The work carried out with the 21 participating SMEs shows how structured decision-making systems like the VCW can redefine approaches to international expansion. By providing replicable tools and a long-term impact perspective, the IMPACTWHEEL project supports the growth of a new generation of companies — competitive, conscious and sustainability-driven.
As organisations continue to navigate rapid change, tools such as the VCW offer a clear path toward more thoughtful, collaborative and impact-oriented internationalisation. This direction aligns fully with the mission and vision of Impact Wheel.
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