Definition: System Dynamics is a methodology and mathematical simulation and modeling technique by Forrester for framing, understanding, and discussing complex issues and problems.
Can be seen as part of systems thinking. The basis of the method is the recognition that the structure of any system — the many circular, interlocking, sometimes time-delayed relationships and feeback loops among its components — is often just as important in determining its behavior as the individual components themselves.
SD was originally developed in the 1950s to help corporate managers improve their understanding of industrial processes. SD is increasingly used for policy analysis and design. See also Strategy Dynamics.
MBA Brief offers accurate and concise definitions of MBA concepts, frameworks, methods and models.
We love to keep things really short, but provide links to learn more about your subject and to similar concepts.
© 2021 MBA Brief - Last updated: 23-10-2021 - Privacy | Terms