Saturday, July 10, 2010

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.

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