Learning From Behavioral Modeling, and Simulation of Business Policy, (What the Experienced Modeler Learns) (Classic Reprint) - Softcover
Synopsis
Excerpt from Learning From Behavioral Modeling, and Simulation of Business Policy, (What the Experienced Modeler Learns)
What does experienced modeler learn from a purely descriptive survey of business policies and speculation about their structure and interaction? What more does he learn from writing equations and drawing structural diagrams? What does he learn from simulation that he cannot guess from speculation? The paper explores these questions using the results of a modeling project for a growing firm in the telecommunications industry.
The project was divided into two distinct phases a descriptive survey of business structure followed by simulation modeling and analysis. A written report, issued immediately after the survey, served as a benchmark for measuring new insights from the simulation modeling phase. The paper shows the independent value of a descriptive survey, which comes from organizing, visualizing and interpreting one's knowledge of the firm's policies and their feedback structure. The paper also shows the added value of simula tion modeling and analysis, which comes from better structuring of poli cies, visualizing dynamic behavior and explaining behavior in precise stories. But at present one pays a high price for these insights from simulation. A modeler spends a lot of time interpreting simulations, and much of that in the painstaking process of discovering formulation errors. Very often the discovery of errors doesn't improve his understanding of business policy instead it reveals his limitations as an equation writer. To learn more quickly from simulation requires better simulation languages to improve the interface betweeen the model and intuition.
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About the Author
Morecroft is Associate Professor of Strategic Management at London Business School.
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Learning From Behavioral Modeling, and Simulation of Business Policy
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Paperback. Condition: New. Print on Demand. This book delves into the field of business policy and strategy through an analysis of behavioral modeling and simulation. It explores how a modeler's understandings develop as they delve deeper into a subject matter. The author presents their findings in a unique way - by dividing the learning process into three distinct phases, each with its own set of insights and revelations. The book starts with a descriptive survey of business structures and policies, then progresses to examining policy functions through equation writing and structural diagrams. Finally, the author delves into computer modeling and simulation and shares the insights that can only be gleaned through such methods. At its heart, this book is about the power of modeling and simulation to enhance our understanding of complex systems like business policies and strategies. The author effectively demonstrates how these techniques can help us to visualize dynamic behavior and explain it in precise, logical terms. While the book has a particular emphasis on business applications, its insights are applicable to a wide range of disciplines and fields. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item. Seller Inventory # 9781330632222_0
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Learning From Behavioral Modeling, and Simulation of Business Policy, What the Experienced Modeler Learns Classic Reprint
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