Strategic Modelling and Business Dynamics: A Feedback Systems Approach

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John Wiley & Sons, Sep 10, 2007 - Business & Economics - 464 pages
John Morecroft's book is an ideal text for students interested in system modelling and its application to a range of real world problems. The book covers all that is necessary to develop expertise in system dynamics modelling and through the range of applications makes a persuasive case for the power and scope of the approach. As such it will appeal to practitioners as well as students.

Robert Dyson, Professor of Operational Research, Associate Dean, Warwick Business School.



Much more than an introduction, John Morecroft's Strategic Modelling and Business Dynamics uses interactive "management flight simulators" to create an engaging and effective learning environment in which readers, whatever their background, can develop their intuition about complex dynamic systems. The numerous examples provide a rich test-bed for the development of systems thinking and modelling skills

John Sterman, Jay W. Forrester Professor of Management, MIT Sloan School of Management



This book, with its vivid examples and simulators, will help to bring modelling, system dynamics and simulation into the mainstream of management education where they now belong.

John A. Quelch, Professor of Marketing, Harvard Business School, Former Dean of London Business School



This text fills the gap between texts focusing on the purely descriptive systems approach and the more technical system dynamics ones.

Ann van Ackere, Professor of Decision Sciences, HEC Lausanne, Universit? de Lausanne



Strategic modelling based on system dynamics is a powerful tool for understanding how firms adapt to a changing environment. The author demonstrates the appeal and power of business modelling to make sense of strategic initiatives and to anticipate their impacts through simulation. The book offers various simulators that allow readers to conduct their own policy experiments.

Dr. Erich Zahn, Professor of Strategic Management, Betriebswirtschaftliches Institut, University of Stuttgart



A website to accompany the book can be found at www.wiley.com/college/morecroft housing supplementary material for both students and lecturers.
 

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Contents

The Appeal and Power of Strategic Modelling
1
Introduction to Feedback Systems Thinking
31
Modelling Dynamic Systems
59
World of Showers
87
Cyclical Dynamics and the Process of Model Building
105
The Dynamics of Growth from Diffusion
163
Managing Business Growth
193
Industry Dynamics Oil Price and the Global Oil Producers
257
Public Sector Applications of Strategic Modelling
307
Model Validity Mental Models and Learning
373
Index
419
Copyright

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About the author (2007)

John Morecroft is Senior Fellow in Management Science and Operations at London Business School where he teaches system dynamics, problem structuring and strategy to MBAs and executives. He develops models and simulators to study the long-term performance of firms and industries.   He has collaborated with a wide range of organisations from Royal Dutch/Shell to BBC World Service and Harley Davidson.  Before joining London Business School he was on the faculty of MIT’s Sloan School of Management where he received his PhD.

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