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Clifford IT Services OD Pages (continued)

Jay Forrester page

Jay Forrester (born July 14, 1918, Anselmo, Nebraska)

Sources of information on this page:

MIT Sloan Faculty

Jay Wright Forrester (Wikipedia)

System Dynamics (Wikipedia)

He is the Professor Emeritus of Management in System Dynamics at the MIT Sloan School of Management.

A pioneer in early digital computer development and a member of the National Inventors Hall of Fame, Forrester invented random-access magnetic-core memory during the first wave of modern computers. He also pioneered the growing field of system dynamics. His research focuses on the behavior of economic systems, including the causes of business cycles and the major depressions, a new type of dynamics-based management education, and system dynamics as a unifying theme in pre-college education.

He has been recognized with numerous awards for his books and has been awarded nine honorary degrees from universities around the world.

Forrester holds a BS in electrical engineering from the University of Nebraska and an SM (Master of Science) in electrical engineering from MIT.

System Dynamics

System dynamics (SD) is a methodology and mathematical modeling technique for framing, understanding, and discussing complex issues and problems. Originally developed in the 1950s to help corporate managers improve their understanding of industrial processes, system dynamics is currently being used throughout the public and private sector for policy analysis and design. (wikipedia).

Dynamic stock and flow diagram of model New product adoption (model from article by John Sterman 2001):
(See wikipedia).

In the system dynamics methodology, a problem or a system (e.g., ecosystem, political system or mechanical system) is first represented as a causal loop diagram, a simple map of a system with constituent components and their interactions. By capturing interactions and consequently the feedback loops, a causal loop diagram reveals the structure of a system. By understanding the structure of a system, it becomes possible to ascertain a system's behavior over a certain time period.

Sterman, John D. (2000). Business Dynamics: Systems Thinking and Modeling for a Complex World. New York: McGraw
Meadows, Donella. (2008). Thinking in Systems: A Primer. Earthscan

The causal loop diagram of the new product introduction may look as follows:
(See, again, wikipedia)

See the System Dynamics (Wikipedia) link above for the above and a more in-depth discussion of system dynamics.

See also my business simulation page, here.

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