The aim of this course is to provide participants with knowledge and tools for modelling and analyzing business systems to understand the behaviours of system variables, hence, to improve the quality of decisions to be made.
This course is designed in two parts: discrete-event simulation and system dynamics. The first part introduces the concepts of simulation, manual simulation, simulation on spreadsheets, and simulation with softwares such as Crystal Ball. Applications of simulation in some areas of business management such as operations management, finance, and marketing are presented. Systems thinking concept and supporting tools including tools for system dynamics are introduced in the second part. Vensim software is introduced to demonstrate examples in system dynamics.
This course provides students with the knowledge and tools to model business systems and examine the behavior patterns of system variables to improve the quality of decisions.
