Dynamic Business Models for Strategic Management Accounting
Feb, 28 at 11 am NY | 4 pm London | 12 am Beijing | Time Converter
This seminar is part of our special series System Dynamics for Business Innovation with Kim Warren. A series of nine webinars offering a deep dive into the application of System dynamics in Business. The sessions will explore strategic modeling techniques and their transformative impact across different business domains, from strategic management to IT systems planning and environmental impact. This series will reveal the potential of System Dynamics as a powerful tool for business innovation and complex decision-making.
Session 2
Dynamic Business Models for Strategic Management Accounting
Overview
This session explains the aims of strategic management accounting (SMA) – giving senior leaders insight about how a business develops and performs, beyond just the financials – and the challenges faced by those trying to do so. This seminar will explain that strategic management covers many more responsibilities than simply building the business plan. It will show that Dynamic Business Models can very largely fulfill those needs, in an efficient, reliable and transparent manner. DBMs provide exactly the joined-up view of a business and financials that leaders say they want. (The session is supported by two substantial practitioner articles)
Learning Outcomes
- Understand the aims of strategic management accounting.
- See how DBMs transform the contribution that SMA can offer.
- Learn to integrate dynamic modeling of a business system’s behaviour with the financial outcomes it generates.
Target Audience
- Accountants seeking to upgrade their contribution to organizations’ strategic performance.
- Business strategists and consultants needing to demonstrate both strong business development and financial performance.
- Academic professionals and students in business, accounting, and finance.
- Business professionals wanting to integrate their strategic management efforts and financial outcomes.
This session is designed to provide practical skills and theoretical knowledge, making it valuable for professionals aiming to leverage dynamic modeling in strategic management accounting.
Certificate of Attendance
About the Presenter
Kim Warren is an accomplished strategist with a wealth of experience in the business world. He spent 10 years in senior strategy roles, including as Retail Strategy Director at Whitbread PLC. Warren then transitioned to academia, teaching Strategic Management at London Business School for two decades. During his tenure, he developed a keen interest in System Dynamics, finding traditional strategy tools insufficient for modern business challenges. This led him to embrace and adapt System Dynamics, creating the Strategy Dynamics method. Warren’s method focuses on designing and managing business systems dynamically to adapt to changing markets and internal business conditions. He has authored influential books on the subject, including “Competitive Strategy Dynamics” and “Strategic Management Dynamics,” and has been recognized with the prestigious Jay Wright Forrester Award from the International System Dynamics Society, where he also served as president in 2013. Warren, along with his partner Christina Spencer, has developed a range of learning materials and courses to disseminate the Strategy Dynamics method, utilizing the Silico online modeling app to support this approach.
For more detailed information, you can visit his website here.
Up Next
How Did En-ROADS Get 755,000 users? Lessons on Modeling, Interface Design, and Facilitation
May, 8 at 11 am NY | 4 pm London | 11 pm Beijing | Time Converter
How Did En-ROADS Get 755,000 Users? Lessons on Modeling, Interface Design, and Facilitation
In this participatory webinar, Drew Jones of Climate Interactive will share insights on how to create a System Dynamics model and online simulator that will succeed at improving mental models and system performance at scale. The teams at Climate Interactive, MIT Sloan, and Ventana Systems designed its System Dynamics models C-ROADS and En-ROADS with the goal of improving the understanding of climate policy choices amongst decision-makers around the world, leading to deliberate strategies in three major areas: 1) modeling, 2) interface/UX design, and 3) facilitation, workshop design, game creation, training, and user support. This webinar will cover the design decisions made over the ~30 years of the project, generalizing the more universal insights for any system dynamics project.
About the Presenter
Andrew (Drew) Jones is Co-Founder and Co-Director of Climate Interactive. An expert on international climate and energy issues, his quotes and data stories appear in the New York Times, The Washington Post, and other media. Jones and his team at CI and MIT Sloan developed the climate simulations used by John Kerry and others to secure the 2014 bi-lateral U.S.-China deal that set up the Paris Agreement, as well as currently in the White House and Congress. Trained in System Dynamics modeling at Dartmouth College and MIT, Jones has worked at Rocky Mountain Institute and was a protégé of Dana Meadows. Jones co-accepted the System Dynamics Society’s award for the best real-world application of modeling. He won Dartmouth College’s Ray W. Smith award for the most significant contribution to the status of the College.
Special Guests
John D. Sterman is the Jay W. Forrester Professor of Management at the MIT Sloan School of Management and Director of MIT’s System Dynamics Group. He is the author of many scholarly and popular articles on the challenges and opportunities facing organizations today, including the book Modeling for Organizational Learning, and the award-winning textbook Business Dynamics. Prof. Sterman’s research centers on improving decision making in complex systems, focusing on environmental sustainability, climate change, alternative fuel vehicles and process improvement in organizations. He pioneered the development of “management flight simulators” of corporate and economic systems, many of which, including the C-ROADS interactive climate policy simulation he helped developed, are used around the world by governments, businesses, universities and the public. Among his honors, Sterman is the recipient of an honorary doctorate, has twice been awarded the Jay W. Forrester Prize for the best published work in system dynamics, received the best application award from the System Dynamics Society, was named one of MIT Sloan’s “Outstanding Faculty” by the BusinessWeek Guide to the Best Business Schools, and has received seven awards for teaching excellence from the students at MIT.
Florian Kapmeier is Professor of Strategy at ESB Business School at Reutlingen University, Germany. He received his doctorate from the University of Stuttgart on “Interorganizational Learning in Learning Alliances”. He has strengthened his academic profile with research visits at MIT Sloan School of Management (Cambridge, USA), McGill University (Montréal, Canada), University of Lugano (Switzerland), and Emlyon Business School (Lyon, France). For his research and teaching activities, he links the System Dynamics methodology with empirical research on theory development and testing, focusing on organizational aspects of the understanding of complexity, increasingly addressing environmental sustainability issues. He works closely with the Climate Interactive to raise awareness of the consequences of climate change, using the suite of Climate Interactive’s simulation models. Florian has collaborated closely with Climate Interactive to develop the En-ROADS Climate Workshop, the Climate Action Simulation Game, and resources for the World Climate Simulation. In addition, he has helped translate both event materials and website resources for the World Climate Simulation. Florian has facilitated numerous En-ROADS and World Climate events with groups between 12-60+ people since 2014, from high-school and university students to corporate and political policy makers.
Workshop: Visualize and Analyze Complex Challenges the Easy Way
February, 7 at 11 am NY | 4 pm London | 12 am Beijing | Time Converter
Workshop: Visualize and Analyze Complex Challenges the Easy Way
Facing challenges that involve multiple interacting factors requires a methodical approach to visualize and analyze these interconnections. Qualitative modeling provides a straightforward way to map out cause-and-effect relationships. This approach is adaptable, suitable for use in workshops, collaborative models, or individual analysis.
This workshop introduces the user-friendly Consideo iModeler tool to assign weights to connections without the need for complex formulas. Utilizing the Insight Matrix, participants can easily identify key factors that either contribute to or hinder progress towards their objectives.
The session delves into the scientific principles underpinning this qualitative approach, explaining how results are derived. Additionally, it offers a comparative analysis of qualitative and quantitative models, drawing on real-world project examples. This seminar is designed to equip you with the tools to make informed decisions in complex scenarios.
About the Presenter
About Consideo iModeler
Consideo iModeler is a cutting-edge software tool designed to visualize and analyze complex situations, making it easier for users to plan, make decisions, and communicate more effectively. This software stands out for its unique Insight Matrix feature, which provides a revolutionary way to handle complexity. It allows both qualitative and quantitative modeling, including System Dynamics for scenario modeling.
Systems Thinking for Sustainability: A Proposal for International Cooperation
January, 17 at 11 am NY | 4 pm London | 12 am Beijing | Time Converter
Systems Thinking for Sustainability: A Proposal for International Cooperation.
The international cooperation proposal “System Thinking for Sustainability” is an initiative led by the Autonomous University of Bucaramanga (UNAB) whose fundamental objective is to address current challenges in favor of global sustainability. It is based on the application of Systems Thinking, a comprehensive approach that seeks to understand and solve complex problems from a holistic and interconnected perspective.
This proposal focuses on promoting sustainable development through collaboration and promoting innovative solutions. Through the analysis of complex systems and the identification of interdependent relationships, it seeks to find strategies to address contemporary dilemmas in key areas such as energy transition, organizational and institutional change for sustainability, water management, cybersecurity and the promotion of education and scientific vocations.
A look at the problems of dissemination of systems thinking: Recognizing the challenges of effectively disseminating Systems Thinking, the proposal focuses on identifying strategies to overcome dissemination barriers and promote a broader and deeper understanding of this approach, promoting its adoption and application in various areas and sectors.
An organizational proposal for coordination to improve impact: The initiative focuses on establishing an effective organizational structure that facilitates coordination between various actors interested in Systems Thinking. It seeks to enhance the impact of this approach by creating collaborative platforms, knowledge-sharing networks and strategies to promote its practical application in relevant contexts.
Development of educational tools and resources: The creation and dissemination of educational materials and practical tools that allow the understanding and effective application of Systems Thinking are sought. This includes the development of digital resources, methodological guides and training programs to encourage greater adoption and understanding of this approach.
About the Presenter
Integrating Systems Thinking into Science Education and Curriculum
April 24, 2024 at 9 am NY | 2 pm London | 9 pm Beijing | Time Converter
Integrating Systems Thinking into Science Education and Curriculum
For teaching and learning science through rich-contexts and complex real-world scenarios, application of systems thinking approaches offers convenient platform. This framework can be well integrated into problem-based learning, learning from case studies, project-based approaches etc. Compared to reductionist approach, systems approach will also facilitate students’ holistic and interdisciplinary understanding about a complex problem. Along these lines, this seminar focuses to explore the scope of applying systems thinking concepts into science teaching and curriculum with a focus in the context of chemistry teaching and learning.
About the Presenter
Dr. Bellam Sreenivasulu, Senior Lecturer and Resident Fellow at the Residential College-4 (RC4), National University of Singapore (NUS), holds a Ph.D. in Chemistry and a postdoctoral fellowship from the Institute of Chemical and Engineering Sciences (ASTAR, ICES). He has extensive teaching experience in chemistry and applied chemistry such as supramolecular chemistry. Currently, at RC4, Dr. Bellam specializes in systems thinking and system dynamics (ST&SD) curriculum with a focus on modeling real-world complex problems in relation to energy systems- sustainable energy, renewable energy, carbon emissions etc. He also teaches topics such as ‘Sleep Health for Holistic Wellbeing’ applying systems thinking approach. His educational research interests include chemistry education, ST&SD education exploring students’ learning and misconceptions in these areas.
Hands-On Workshop: Modeling Non-Renewable Resources Dynamics
Feb 21, 2024 at 9 am NY | 2 pm London | 10 pm Beijing | Time Converter
Hands-On Workshop: System Dynamics Modeling Non-Renewable Resources Dynamics
This session about modeling the depletion of non-renewable resources is intended to enable participants to understand the problem holistically through systems approach. First, they will learn to construct causal loop diagrams (feedback loops) by applying systems thinking concepts, and then learn to develop stock and flow diagrams as models for simulations to study how a system structure generates the behavior of overshoot and collapse of non-renewable resources. At the end of this session, the participants will be enabled to:
- Identify the cause and effect interactions among the key variables in the given system scenario to develop feedback loops
- Build stock and flow diagram to quantify the model on Vensim
- Run the simulations on Vensim to observe predicted dynamic behavior
- Propose policies for sustainable use of resources
This hands-on practice session is intended to engage beginners in the field of systems thinking and System Dynamics. It is expected to run for 2 hours.
Download the Software
This workshop will make use of Vensim PLE, the free version of the modeling software provided by Ventana Systems. To ensure efficient use of time during the workshop, we kindly ask all participants to download the software in advance from https://vensim.com/free-downloads/
Pre-Work Tasks
Before attending the workshop, please complete the PRE-WORK TASKS to ensure a productive learning experience:
- Watch the introductory segment (up to 10 minutes) of the video on ‘drawing causal loop diagrams (CLDs) in Vensim’ to familiarize yourself with the basics of CLD creation in Vensim. Access the video here: Vensim Causal Loop Diagramming Video.
- Practice drawing CLDs by replicating the example shown in the video. Once comfortable, save your version of the CLD in the ‘.mdl’ format with your name as the filename.
- Learn about constructing simple Stock and Flow Models in Vensim by watching the relevant video. This will provide foundational knowledge in creating stock and flow diagrams (SFD). Access the video here: Building a Simple Vensim Model.
About the Instructor
Dr. Bellam Sreenivasulu, Senior Lecturer and Resident Fellow at the Residential College-4 (RC4), National University of Singapore (NUS), holds a Ph.D. in Chemistry and a postdoctoral fellowship from the Institute of Chemical and Engineering Sciences (ASTAR, ICES). He has extensive teaching experience in chemistry and applied chemistry such as supramolecular chemistry. Currently, at RC4, Dr. Bellam specializes in systems thinking and system dynamics (ST&SD) curriculum with a focus on modeling real-world complex problems in relation to energy systems- sustainable energy, renewable energy, carbon emissions etc. He also teaches topics such as ‘Sleep Health for Holistic Wellbeing’ applying systems thinking approach. His educational research interests include chemistry education, ST&SD education exploring students’ learning and misconceptions in these areas.
Machine Learning and System Dynamics: a Threat or an Opportunity?
The recent webinar presented by Hesham Mahmoud, an experienced professional in the fields of multinational corporations, academia, and the United Nations, focused on the intersection of Machine Learning (AI) and System Dynamics. This post summarizes the webinar’s key points, including the Q&A session, offering insights into how these two methodologies can be effectively integrated.
Presenter Background:
Hesham Mahmoud, currently a Junior Lecturer and Machine Learning Researcher at Radboud University, brings a wealth of experience from his roles in various sectors, including his tenure at the Food and Agriculture Organization of the United Nations. His expertise in Economics and Political Economics, combined with his professional experience, provides a unique perspective on the application of Machine Learning in System Dynamics.
Webinar Summary:
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Defining the Relationship between AI, Machine Learning, and System Dynamics: Mahmoud began by delineating the distinctions and connections between AI, Machine Learning, and System Dynamics. He emphasized the potential of Machine Learning to enhance the analytical capabilities in System Dynamics, moving beyond the traditional view of AI as a complex and opaque field.
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Addressing Bias and Ensuring Objectivity: The webinar highlighted the challenge of bias in Machine Learning algorithms. Mahmoud discussed the importance of feature selection and the role of human oversight in ensuring that machine-learning models are as objective and unbiased as possible.
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Data Challenges in Machine Learning: Mahmoud pointed out that both the scarcity and abundance of data present challenges in Machine Learning. He stressed the importance of careful decision-making in feature selection to avoid introducing biases into the models.
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Complementarity of Machine Learning and System Dynamics: The discussion underscored how Machine Learning could uncover patterns in data that might not be immediately apparent in System Dynamics models, while System Dynamics can provide a human-centric approach to guide Machine Learning analyses.
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Practical Applications in Healthcare: The webinar touched on the application of these methods in healthcare, demonstrating how combining Machine Learning with System Dynamics could enhance predictive models in medical systems.
Key Points from the Q&A:
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Machine Learning as a Complement to System Dynamics: Mahmoud clarified that Machine Learning should be seen as a complementary tool to System Dynamics, not as a replacement. He emphasized its utility in providing data-driven insights that can inform and refine System Dynamics models.
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Bias Mitigation in Combined Approaches: In response to concerns about bias, Mahmoud discussed how integrating Machine Learning with System Dynamics could help mitigate biases from both fields. He suggested that the triangulation of data-driven insights and System Dynamics models could lead to more balanced and objective outcomes.
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Ethical Considerations in Model Design: Mahmoud acknowledged the importance of ethical considerations in the design and application of Machine Learning models, especially when used in conjunction with System Dynamics. He stressed the need for ethical frameworks to guide decision-making in these integrated approaches.
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Technical Aspects of Integration: Addressing the technicalities, Mahmoud mentioned the availability of tools and packages in programming languages like R, which facilitate the integration of traditional System Dynamics models with Machine Learning techniques.
This webinar provided a comprehensive overview of how Machine Learning can be integrated with System Dynamics to enhance model accuracy and objectivity. The key takeaway is that these two methodologies, when combined, can offer a more robust approach to understanding and solving complex problems, particularly in fields like healthcare. The Q&A session further reinforced the idea that Machine Learning and System Dynamics are not competing but are complementary tools that, when used together, can lead to more effective and ethical outcomes.
This session is organized and led by MINDS – the student-led System Dynamics Association at the University of Bergen in Norway.
Watch the recording below
About the Speaker
Hesham Mahmoud has working experience in Multinational Corporations, Academia, and the United Nations. Double Master’s degree holder in Economics and Political Economics with ten years of professional experience in the domains of ICT, Business Analysis, Business Development, Partnerships, Project Management, and Marketing. Before becoming a researcher at Radboud University in the Netherlands, Hesham served as Due Diligence Senior Analyst at the Food and Agriculture Organization of the United Nations and currently works as a Junior Lecturer and Machine Learning Researcher at Radboud University.
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Systems Thinking Through Storytelling
“”The recent webinar hosted by the System Dynamics Society featured Linda Booth Sweeney and Philip Ramsey, offering an overview of the world of systems thinking and its application in education and storytelling. Linda, an accomplished educator and author, shared her journey in integrating systems thinking into various educational materials and books. Philip Ramsey, an author and senior lecturer at Massey University, New Zealand, discussed his Billy Bonk and Frankel series, aimed at teaching systems thinking to children.
Linda Booth Sweeney: Bridging Systems Thinking and Storytelling
Linda emphasized the importance of early exposure to systems thinking, noting that it can become a habitual way of thinking if introduced at a young age. Her approach involves using simple, yet powerful, questions to encourage children to visualize and discuss the connections in the world around them. She introduced her new book, “Apart Together,” which aims to cultivate systems literacy, a growth mindset, and resilience in children.
Key Takeaways from Linda’s Presentation:
Early Systems Thinking: Linda highlighted the necessity of introducing systems thinking to children, potentially preventing the fragmentation of knowledge as they grow older.
Curious About Connections: She introduced her methodology involving three questions – “What’s happening here?”, “What if this is connected to that?”, and “What caused what to change?” – to help children visualize and think about systems.
Access the free companion guide when you subscribe to the “Curious About Connections” Newsletter here.
Practical Implementation: Linda shared how her methodology and book can be utilized in various everyday scenarios, from family discussions to classroom settings, to instill a sense of curiosity and interconnectedness in children.
Philip Ramsey: Storytelling with Systems Thinking
Philip Ramsey’s part of the webinar focused on his Billy Bonk and Frankel series, republished recently with the help of the System Dynamics Society. These books are designed to teach systems thinking to children around age 10. He emphasized the role of storytelling in making complex concepts accessible and engaging for young minds.
Key Insights from Philip’s Presentation:
Targeted Age Group: Philip’s books are primarily aimed at children around 9-11 years old, making them a suitable tool for educators and parents to introduce systems thinking at a slightly more advanced level.
The Power of Storytelling: He underscored storytelling as an effective method to communicate systems thinking concepts, making them relatable and easier to understand for children.
Series Development: The Billy Bonk and Frankel series were developed to not only entertain but also educate children, demonstrating the practical application of systems thinking in various scenarios.
The webinar with Linda Booth Sweeney and Philip Ramsey was an enlightening exploration of systems thinking through storytelling. Linda’s approach of simple questioning to induce systems thinking in young children and Philip’s use of storytelling to teach more complex systems concepts to older children present a framework for educators and parents. These methods can be instrumental in fostering an early understanding and appreciation of systems thinking, shaping a more aware and connected generation.
Watch the recording below
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Resources
About the Speakers
Linda Booth Sweeney is an educator, writer and strategist for healthy socio-ecological systems change, Dr. Linda Booth Sweeney is internationally recognized for her efforts to make systems thinking actionable by a wide range of audiences. In her Systems Leadership Labs, Linda creates experiences for leaders to think differently, and to experiment with language, visualization tools and knowledge architecture that better mirrors the complexity they are navigating. She is co-author of The Systems Thinking Playbook, The Climate Change Playbook, and numerous other books and journal articles. Her newly published book, Apart, Together, is a gentle introduction to systems thinking for children. Linda holds her doctorate from Harvard’s Graduate School of Education and lives outside of Boston where she enjoys swimming in Walden Pond and amateur farming. For more information, see:
(systems) www.lindaboothsweeney.net
(children’s) www.lindaboothsweeney.com
(metaverse) https://togglelab.com
How Children’s Stories Help Us See Real-World Patterns (on Medium.com)
Philip Ramsey is the author of the Billibonk and Frankl series, jungle-based fables aimed at teaching children systems thinking through fascinating animal adventures. Phil is a Senior lecturer at Massey University in New Zealand, where he teaches Organizational Learning, Leadership, and Teamwork. He also works as a Director of Incite Learning, a consulting company that mainly works with schools, helping school leaders apply Organizational Learning concepts to solve tough problems.
Billibonk and Frankl Series
Webinar Highlights and Recording: Navigating Client Dissatisfaction
Dennis Sherwood, a stalwart in the consulting industry, recently presented a webinar that peeled back the curtain on the not-so-glamorous aspect of consulting—client dissatisfaction. With over 20 years under his belt and roles in prestigious firms like Deloitte and Goldman Sachs, Dennis brought a wealth of experience to the discussion, centered around a challenging government project that spanned a decade.
The Struggle for Educational Reform: Dennis dove into the intricacies of a flawed examination grading system he audited, which affected countless students’ futures. Despite his comprehensive analysis and solution-oriented approach, he encountered stiff resistance from the powers that be, illuminating the daunting task consultants often face when their findings and client expectations don’t align.
Advocacy in the Face of Resistance: His unwavering commitment to rectify the grading system, even after being turned away, highlights a consultant’s duty to pursue the truth and advocate for change. Dennis’s call to action rallied lawyers, educators, and policymakers to join the fight for transparency and fairness in education.
The Takeaway: Dennis Sherwood’s “Navigating Client Dissatisfaction” session is a testament to the perseverance needed in consultancy, especially when advocating for societal change against entrenched systems. For those inspired by his dedication, Dennis remains open to dialogue and can be reached for further insight at dennis@silverbulletmachine.com
Watch the recording below
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About the Speaker
Dennis Sherwood has championed organizational innovation and creativity for over 20 years through his UK-based consultancy. A fervent advocate of systems thinking, Dennis’s vast experience ranges from being a consulting partner at Deloitte to holding pivotal roles at establishments like Goldman Sachs and SRI Consulting. An acclaimed author, Dennis has authored 15 books on topics spanning innovation, creativity, and systems thinking, with titles such as “Seeing the Forest for the Trees” and “How to Be Creative: A Practical Guide for the Mathematical Sciences.” Join us as Dennis unravels the nuances of client relationships, providing invaluable insights from his distinguished career.
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Navigating Client Dissatisfaction
Navigating Client Dissatisfaction
Every consultant has their share of success stories, but what happens when the client doesn’t like the analysis? Dive deep into the realities of professional consultancy where not every project ends with a fairy tale conclusion. In this session, Dennis Sherwood will share his personal journey of a decade-long engagement with a government client. Through this lens, he will shed light on the complexities and challenges faced when results don’t align with client expectations.
Join us to:
- Delve into the intricate dynamics of client relationships beyond conventional success narratives.
- Unpack strategies to manage, navigate, and turn around situations when clients are dissatisfied with the outcomes.
- Engage in an open forum to share your own experiences of when project outcomes diverged from client expectations.
About the Presenter
Dennis Sherwood has championed organizational innovation and creativity for over 20 years through his UK-based consultancy. A fervent advocate of systems thinking, Dennis’s vast experience ranges from being a consulting partner at Deloitte to holding pivotal roles at establishments like Goldman Sachs and SRI Consulting. An acclaimed author, Dennis has authored 15 books on topics spanning innovation, creativity, and systems thinking, with titles such as “Seeing the Forest for the Trees” and “How to Be Creative: A Practical Guide for the Mathematical Sciences.” Join us as Dennis unravels the nuances of client relationships, providing invaluable insights from his distinguished career.