Business Dynamics: MIT's Approach to Diagnosing and Solving Complex Business Problems
Duration: A Five-Day Program for Managers, Planners, and Strategists
Location: MIT Campus, Cambridge, Massachusetts
Cost: $8,100 (excluding accommodations)
Accelerating economic, technological, social, and environmental change challenges executives and policy makers to learn at increasing rates. At the same time, the complexity of the systems in which we live are growing.
To manage effectively in a world of mushrooming complexity, business executives must become systems thinkers. They must learn to expand the boundaries of their mental models and develop modeling tools to understand how the structure of complex systems creates their behavior.
Developed at MIT more than thirty years ago by computer pioneer Jay Forrester, system dynamics modeling is a set of conceptual tools that enable us to build computer simulations of complex issues - management flight simulators. In so doing, we can experience the long-term side effects of decisions, accelerate learning, and design structures and strategies for greater success.
Business Dynamics is an intensive, hands-on introduction to system dynamics modeling with a focus on business and public policy applications.
Participants learn to:
- Think systemically and dynamically
- Map the structure of complex systems and understand their dynamics
- Use state of the art software for modeling and simulation of complex systems
- Implement systems thinking and modeling in teams and organizations
- Apply lessons from a variety of successful applications
In presentations and workshops, working in teams and using personal computers, participants employ a variety of models and management flight simulators to explore:
- Growth strategy
- Supply chain design
- Service quality management
- Process improvement
- Project management and product development
Participants leave the program armed with state-of-the-art simulation software and texts so that they can transform their own organizations.
Business Dynamics is for managers, planners, and strategists who work with management teams. The program also benefits administrators of public and not-for-profit organizations, management scientists, educators, and members of the general public interested in the technique. Recent international participants have included general and functional managers of banks, hospitals, schools, telecommunications organizations, health care, and automotive companies as well as faculty. No prior computer experience is necessary, but computers are used as an aid to understanding systems.