BUSI4A515: Strategy Simulation and System Thinking

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• To provide students with a systematic way of understanding, visualising and modelling the major interdependencies in business and other complex systems, aimed at enhancing strategic thinking and learning.

• System dynamics as a modelling method and feedback thinking
• Causal loop diagrams
• Stocks and flows
• Time delays
• Model structure and nonlinear behaviour
• The modelling process
• Software used to build models
• Building and analyzing models
• Management flight simulator (or microworld)

Subject-specific Knowledge:

• On completion of the module students should:
• have a critical appreciation of the use of modelling and simulation for learning;
• be able to take feedback relationships, time delays and nonlinearity into consideration when facing complex problems;
• have an advanced understanding of when system dynamics might add value to the business decision-making process.

Subject-specific Skills:

• On completion of the module students should:
• be able to create causal loop diagrams from the description of a situation;
• be able to conceptualise a system dynamics model from causal loop diagrams;
• be able to build small models using the chosen software;
• be able to understand the model behaviour and conduct analysis on it;
• be able to apply system dynamics to the analysis of real-world business situations.

Key Skills:

• Written communication; planning, organising and time management; problem solving and analysis; using initiative; computer literacy.

• The learning outcomes will be met through a combination of lectures, seminars and groupwork (including group discussion of model examples, team games and group modelling project) together with individual exercises and guided reading.
• The summative assessment of the module, by individual written assignment, is designed to test students understanding and critical appreciation of the key concepts associated with system thinking and dynamic modelling, and their ability to apply them to complex problem solving.

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