Digital Twin Business Models for Strategy and Operational Management
In the business field, dynamic models have long been used for simulating long-term plans (3+ years) and medium-term challenges and issues playing out over a few months or quarters. But models have also been used to understand shorter-term phenomena, such as in supply-chain and service-delivery cases. Often, though, the same structures and mechanisms operate over both short and long-time scales. Examples include customer acquisition and retention, and staffing (hiring, promotion, and turnover), and performance-improvement programs. This webinar will show how a single model can capture both short-term and strategic views of the same issue, enabling management to have a coherent long-term plan and to check the impact of that plan on short-term tactical episodes. Taken to the extreme, this approach can get close to offering a “digital twin” of a business or some part of the business, that closely matches its actual performance as well as the development of the wider system that drives that performance. Similar considerations may well apply to plans and challenges in other domains. In this webinar, you will learn:
The benefits of using System Dynamics to capture both short-term and long-term perspectives of a business issue.
How to design and implement effective digital twin architectures that can improve organizational performance.
Real-world examples and case studies of how System Dynamics and digital twins have been used to optimize business performance and drive competitive advantage.
About the Speakers
Kim Warren is the founder of Strategy Dynamics, helping organizations improve their planning and strategy implementation. Kim spent 15 years in senior strategy roles in business before joining the Strategy faculty at London Business School, where he taught MBA and Executive programs. Realizing limitations with existing strategy methods, he developed powerful strategy dynamics frameworks. Kim is the author of several books, including Competitive Strategy Dynamics and Strategic Management Dynamics, and has collaborated with leading consulting firms to extend the scope of Strategy Dynamics’ impact. His work has also been directly applicable to issues in international development. Kim has an engineering background, an MBA, and a Ph.D. from London Business School. He was awarded the Jay Wright Forrester Award by the International System Dynamics Society in 2005 and was the Society’s President in 2013.
Martin Lycko is a Customer Success Manager at Silico. Silico’s simulation platform empowers organizations to create Digital Twins that span teams and functions. With the ability to connect these Digital Twins to real-time data from across the organization, businesses can simulate the impact of decisions virtually in a Digital Twin of the Organisation.