Quantifying strategy using system dynamics
System dynamics (SD) is an approach that enables the behaviour of complex systems to be better understood and simulated. SD has been extensively applied to studying and managing complex feedback systems, such as business and other social systems, over the last 50 years. SD models represent changes in system behaviour over time by using the analogy of flows accumulating and depleting over time in stocks. Often these flows and stocks will be highly interdependent and will be linked through feedback processes. Developing SD models enables the unintended consequences policy action to be revealed and explored.
During the presentation, Siôn Cave will discuss the SD approach, the benefits of its application and how he has used it to quantify strategic decisions for public and private sector organisations.
Siôn has been applying systems modelling and simulation techniques within the public and private sectors for the last 15 years. Siôn has worked across numerous organisations including the Home Office, Ministry of Justice, technology companies, financial institutions and pharmaceutical companies. Siôn is a fellow of the Operational Research society, and was awarded the Steer Davies Gleave award for system dynamics in 2013 for his work with the Centre for Workforce Intelligence modelling the supply and demand of doctors and dentists.