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The most recent operations and management frameworks in innovation have not been complete to explicit required knowledge to manage the cooperation of its networked open innovation value chain in the knowledge economy and open enterprise. Strategic actors from the Virtual Innovation Society network were interviewed to identify critical semantic parameters that address this issue. As a result, this study suggests the characterization of inter-dependent added-values and its performance metrics, under the "managing as designing" approach, as input for managing the externalities, the integration of the articulation between business operations, strategy and information technology, and waste of innovation. In this context, the identification of the main managerial indicators for future command and control of existing innovation network operations under the "managing as designing" approach becomes a new challenge for future research. Keywords: Managing as Designing; Innovation Management; Network Managament; Operations Management; Virtual Networks.