Business Dynamics: Systems Thinking and Modeling for a Complex World [With Companion]

by John Sterman and John D. Sterman

Book Overview

Today s leading authority on the subject of this text is the author, MIT Standish Professor of Management and Director of the System Dynamics Group, John D. Sterman. Sterman s objective is to explain,... This description may be from another edition of this product.

• Format: Hardcover
• Language: English
• ISBN: 007238915X
• ISBN13: 9780072389159
• Release Date: February 2000
• Publisher: McGraw-Hill Education
• Length: 982 Pages
• Weight: 4.51 lbs.
• Dimensions: 1.6" x 8.1" x 10.1"

Customer Reviews

Edward Garrity, Professor of Information Systems

Sterman's book is far and away the best and most comprehensive book on system dynamics for business. Although the title is "Business Dynamics" it really is a text on applying system dynamics to both business and larger social issues/systems. If you are a strong student of business and systems then this is the book for you. It is highly recommended if you are interested in learning the most you possibly can regarding system dynamics and how to model systems. However, if you are searching for an introduction to this area - watch out. The book is actually quite advanced - it is used at MIT and other graduate business programs at top universities. What is amazing about this book is that it blends absolute precision, correctness and detail with practical modeling advice and insight and it is written in a relaxed style with numerous examples. It is one of the best examples of clear writing about a complex topic. Dr. Sterman's years of system work has allowed him a level of clarity that is unsurpassed in the business and systems area. As mentioned earlier, the book can be overwhelming and I would recommend a newcomer to this area to pick up several books first, to provide a more gentle introduction. This is not a contradiction of what I wrote earlier, it is simply that the book packs so much information in its pages, and it is still very long. Highly recommended.

Best book on SD around

You won't find a better more informative book. This should be required reading for any consultant interested in solving real world complex business problems. It goes into detail with examples and stories about actual projects that any good management consultant should be capable of tackling.An outstanding book.

The very best SD book on my book-shelf!

This book is the ultimate resource for any serious learner of System Dynamics. Sterman covers all aspects of SD modeling in a witty and easy-to-understand- manner. He deals extensively with the foundations of SD modeling, treats extensively causal loop diagramming, the logic of stocks and flows, gives numerous examples of practical SD projects, makes an in-depth investigation into all kind of building blocks of SD models etc. All the models of the book are avaliable on the added CD in the Vensim, Stella and Powersim data formats. Although published just in spring 2000, it is IMHO already a classic. A last word: Business Dynamics is not cheap, but it is worth every cent or penny you spend for it. There may be other good or even excellent SD-textbooks, but "Business Dynamics" is simply outstanding and a category in its own.

The next ten years

Go ahead; get this book and be happy. If you're new to system dynamics, tell your family and friends that for the next ten years you'll be quoting endlessly from Sterman's insights. If you're deeply experienced in system dynmaics, better prepare them for at least the next twenty years. John captures the essential knowledge generated in the field and writes it in ways that will appeal to most everyone. Need a jump start to formulate a sticky set of circumstances? It's in Business Dynamics. But if you're like me, you'll find yourself reading on and on even after you got your answer. This book is as brilliant as his popular lectures at MIT. It is the best single book on system dynamics available.

Challenging Content but very readable

The field of system dynamics was created in 1956 under the leadership of MIT Professor Jay W. Forrester to evaluate how alternative policies affect growth, stability, fluctuation, and changing behavior in corporations, cities, and countries. Forrester founded the System Dynamics Program in the Alfred P. Sloan School of Management at MIT. John Sterman is currently Director of the System Dynamics Group at MIT.This text is a summary of the wisdom and knowledge gathered over more than twenty years of research dedicated to the study of practical methods for systems thinking and the dynamic modeling of complex systems. It is well written, easy to understand, and worthy of serious consideration.I believe the text is destined to become a classic. It is written in a straightforward style and does not require prerequisite knowledge of higher mathematics. Indeed, in the author's words, "one of the strengths of the text is the way it presents system dynamics with a minimum of mathematical formalism. The goal is to develop the reader's intuition and conceptual understanding, without sacrificing the rigor of the scientific method." This goal is achieved well.The text opens with a succinct and well organized description of approaches to the study of complex systems. It develops a set of principles for successful use of systems dynamics and provides well-written overviews of the Modeling Process and dynamic systems.It covers the construction of causal loop diagrams and describes their application in a variety of business and engineering examples.This is one of the best texts in its field for upper division undergraduate courses and graduate programs. It will be useful to many in business, engineering, and science.