Program Overview

Business Dynamics Program

Description

The Business Dynamics program explores the reasons behind the failure of many business strategies and the inability of others to produce lasting results. It delves into the challenges faced by managers in learning and adapting to accelerating economic, technological, social, and environmental changes. The program focuses on developing systems thinking and representing dynamic complexity to accelerate learning throughout an organization.

Objectives

The program introduces students to system dynamics modeling for the analysis of business policy and strategy. The objectives include:

• Visualizing a business organization in terms of its structures and policies that create dynamics and regulate performance
• Recognizing and dealing with situations where policy interventions are likely to be delayed, diluted, or defeated by unanticipated reactions and side effects
• Using state-of-the-art software for computer simulation and gaming

Required Materials

The program uses the Vensim Personal Learning Edition (VensimPLE) software by Ventana Systems, which is free for academic use.

Sustainable Development Goals

The program aligns with the following sustainable development goals:

• Good health and well-being
• Quality education
• Industry, innovation, and infrastructure
• Reduced inequalities
• Sustainable cities and communities
• Responsible consumption and production

Teaching Mode

The program is taught in presence.

Learning Methods

Class sessions combine lectures, interactive exercises, group presentations, and discussions. Students are expected to engage in and prepare for discussions, participate actively during class, and review readings and assignments for their applicability to concepts covered in class. A minimum attendance of 75% is recommended.

Examination Information

The examination consists of:

• Assignments: 50% (5 highest grades out of 6 assignments, 10% each)
• Final exam: 50%

Bibliography

• Compulsory: Sterman, John D., "Business Dynamics: Systems Thinking and Modeling for a Complex World", Boston etc.: Irwin/McGraw-Hill, 2000.

Education

The program is part of the following degrees:

• Master of Science in Economics in Management, Lecture, 1st year
• Master of Science in Management and Informatics, Lecture, Elective, 1st year

Additional Information

• Semester: Spring
• Academic year: Not specified
• ECTS: 3.0
• Language: English