Reflections on System Dynamics and Strategy

If you've heard of system dynamics but aren't really sure how that seemingly academic approach can deal with the practical details of running a business or organization and if you have an hour to spare, check out John Morecroft's WPI lecture on YouTube. There are lots of insights, including some about a taxonomy of modeling on his last slide.

Incidentally, Morecroft has published a book, Strategic Modelling and Business Dynamics: A Feedback Systems Approach,  that gives about as good a feeling as I've seen for the experience of running a simulation without actually running one.