Strategy simulations: tutorial on business and market modeling to aid strategic decision making: system dynamics in perspective and selecting appropriate analyssis approaches

Authors:
Donna D. Mayo;Knud Erik Wichmann
Affiliations:
Decision Sciences Practice, Cambridge, MA;Decision Sciences Practice, Hellerup, Denmark
Venue:
Proceedings of the 35th conference on Winter simulation: driving innovation
Year:
2003

Citing 3
Cited 2

Business Dynamics

Business Dynamics
A Multimethod Approach for Creating New Business Models: The General Motors OnStar Project

Interfaces
Strategy simulations: steering strategic decisions at london underground: evaluating management options with system dynamics

Proceedings of the 35th conference on Winter simulation: driving innovation

Linking strategic objectives to operations: towards a more effective supply chain decision making

Proceedings of the 38th conference on Winter simulation
Applications of discrete-event simulation to support manufacturing logistics decision-making: a survey

Proceedings of the 38th conference on Winter simulation

Quantified Score

Hi-index	0.00

Visualization

Abstract

System dynamics models have been used to address strategic questions in many hundreds of companies and government agencies around the world over the past 40 years, including a broad range of organizations in the transport sector. However, this technique remains less well known than other approaches among potential client organizations and within the simulation community. This paper provides a pithy tutorial on the system dynamics method and the modeling process, uses transport sector case examples to illustrate how such models have been valuable in practice, and compares key characteristics of system dynamics to discrete event simulation. We close with some guidance on factors to consider when selecting an analysis approach that is appropriate to the problem under study.