2003 | OriginalPaper | Chapter
System Dynamics (SD) — An Approach within Corporate Planning
Author : Peter Bradl
Published in: Operations Research Proceedings 2002
Publisher: Springer Berlin Heidelberg
Included in: Professional Book Archive
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Increasing speed in business, engagement on international markets, as well as rising costs for mismanagement and wrong decisions require that effects of changes, both endogenous and exogenous, can be foreseen. At least, it is important to have the possibility to rewrite existing action plans according to the current situation almost instantly. The use of models that are built and validated according to the companies current situation (including market information etc.) not only allows playing with the status quo but is the basis for simulations that provide results on possible future outcomes.