Today’s leading authority on the subject of this text is the author, MIT Standish Professor of Management and Director of the System Dynamics Group, John D. Sterman. Sterman’s objective is to explain, in a true textbook format, what system dynamics is, and how it can be successfully applied to solve business and organizational problems. System dynamics is both a currently utilized approach to organizational problem solving at the professional level, and a field of study in business, engineering, and social and physical sciences.
DescriptionBy John D. Sterman, MIT Standish Professor of Management and Director of the System Dynamics Group. Business Dynamics: Systems Thinking and Modeling for a Complex World explains what System Dynamics is, and how it can be successfully applied to solve business and organizational problems. System Dynamics is both a currently utilized approach to organizational problem solving at the professional level, and a field of study in business, engineering, and social and physical sciences. University and graduate-level texts, particularly those focused on business and public policy applications, have not kept pace with the growth of the field. This book is designed to provide thorough coverage of the field of system dynamics today, by examining
- Systems thinking and the system dynamics worldview;
- Tools for systems thinking, including methods to elicit and map the structure of complex systems and relate those structures to their dynamics;
- Tools for modeling and simulation of complex systems;
- Procedures for testing and improving models;
- Guidelines for working with client teams and successful implementation
- Corporate growth and stagnation,
- The diffusion of new technologies,
- The dynamics of infectious disease such as HIV/AIDS,
- Business cycles,
- Speculative bubbles,
- The use and reliability of forecasts,
- The design of supply chains in business and other organizations,
- Service quality management,
- Transportation policy and traffic congestion,
- Project management and product development,
- and many others.
- Process Points that provide practical advice for the successful application of the tools in real organizations.
- Case studies of System Dynamics in Action that present successful applications ranging from global warming and the war on drugs to reengineering the supply chain of a major computer firm, marketing strategy in the automobile industry, and process improvement in the petrochemicals industry.
- Challenges. The challenges, scattered throughout the text, give you practice with the tools and techniques presented in the book and stimulate your original thinking about important real world issues. The challenges range from simple thought experiments to full-scale modeling projects.
- Simulation software and models. The accompanying CD-ROM and website (http://www.mhhe.com/sterman) include all the models developed in the text along with state-of-the-art simulation software to run them. There are several excellent software packages designed to support system dynamics modeling. These include ithink, Powersim, and Vensim. The CD and website include the models for the text in all three software formats. The disk also includes fully functional versions of the ithink, Powersim, and Vensim software so you can run the models using any of these packages without having to purchase any additional software.
- Additionally, the Instructor’s Manual and instructor’s section of the Website include suggested solutions for the challenges, additional assignments, Powerpoint files with the diagrams and figures from the text suitable for transparencies, suggested course sequences and syllabi, and other materials.