System Dynamics Modelling for Business Analysis

This course covers the theory, tools, and techniques associated with systems thinking approach which allows students to understand the relationship and connections between components of a system, instead of looking at the individual components one by one. Moreover, this course provides an introduction to system dynamics modelling for the analysis of business policies and strategies. This online program categorizes students to small working groups regarding the students’ background and offers them special tutorial services for business simulation based on their research interests.

The course uses role playing games and simulation software to develop principles for the successful management of complex strategies. Special emphasis will be placed on the nature of interrelationships between different components of a system, as well as the question of how to quantify time-dependent factors in this context.

This program helps students to develop understanding and proficiency in system dynamics simulation to evaluate the future of one business in the real world by system thinking approach to consider the linear and nonlinear impacts between different components of one business.

Course leader

Dr. Hamid Mostofi

Target group

This course is designed for current university students, working professionals and any individuals with an interest in furthering their knowledge and understanding in systems thinking and business modelling.

As well as bachelor graduates and master/PhD students of:

Business and Economics
Management
Industrial, Civil, IT and Computer Science, Mechanical, Electrical Engineering

Course aim

Learning Goals

Systems Thinking and Business Dynamics
• Learn the relevance of taking a wider system perspective in examining challenges and understand why decisions and responses change naturally over time
• Learn to examine the possible impacts of policy changes and technological innovations on business environment

Tools for System Dynamics Modeling
• Develop skills in the use of simple mapping and spreadsheets to elicit mental models of system structures, and be able to anticipate from their structures, the dynamic behavior of simple closed‐loop systems

• Learn quantitative approaches for simulation business policy
Simulating Complex Business Systems

• Be able to model and simulate multi‐looped systems by using system dynamics software and simulate possible future scenarios of real‐world business, government, community and global challenges

• Learn modeling software such as VensimPLE. In this course, the Vensim Personal Learning Edition (Vensim PLE) by Ventana Systems will be used. It is free for academic use and available for Windows and Mac

Credits info

3 EC
ECTS

Fee info

EUR 950: 950 euros for students and 1140 euros for working professionals