System dynamics and strategy

System Dynamics Review

Volumn 24, Issue 4, 2008, Pages 407-429

  Gary, Michael Shayne ^a   Kunc, Martin ^b   Morecroft, John D W ^c   Rockart, Scott F ^d  

^a UNIVERSITY OF NEW SOUTH WALES   (Australia)

^b UNIVERSIDAD ADOLFO IBÁÑEZ   (Chile)

^c LONDON BUSINESS SCHOOL   (United Kingdom)

^d DUKE UNIVERSITY   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

DECISION MAKING; RESEARCH; STRATEGIC APPROACH; SYSTEMS ANALYSIS; THEORETICAL STUDY;

EID: 63449087409     PISSN: 08837066     EISSN: 10991727     Source Type: Journal    
DOI: 10.1002/sdr.402     Document Type: Article

References (108)

1. Abdel-Hamid TK. 1989. The dynamics of software project staffing: a system dynamics based simulation approach. IEEE Transactions on Software Engineering 15: 109-119.
2. Agarwal R, Gort M. 2002. Firm and product life cycles and firm survival. American Economic Review 92(2): 184-190.
3. Bakken BE, Gould JM, Kim DH. 1992. Experimentation in learning organizations: a management flight simulator approach. European Journal of Operational Research 59(1): 167-182.
4. Barnett SM, Koslowski B. 2002. Adaptive expertise: effects of type of experience and the level of theoretical understanding it generates. Thinking and Reasoning 8(4): 237-267.
5. Barney J. 1986. Strategic factor markets: expectations, luck and business strategy. Management Science October: 1231-1241.
6. Barney J. 1991. Firm resources and sustained competitive advantage. Journal of Management 17(1): 99-120.
7. Barney J. 2001. Is the resource-based "view" a useful perspective for strategic management research? Yes. Academy of Management Review 26(1): 41-56.
8. Bass FM. 1969. A new product growth model for consumer durables. Management Science 15(5): 215-227.
9. Bowman EH. 1963. Consistency and optimality in managerial decision making. Management Science 9(2): 310-321.
10. Camerer C. 1981. General conditions for the success of bootstrapping models. Organizational Behavior and Human Performance 27(3): 411-422.
11. Camerer C, Lovallo D. 1999. Overconfidence and excess entry: an experimental approach. American Economic Review 89(1): 306-318.
12. Camerer CF. 2003. Strategizing in the brain. Science 300: 1673-1675.
13. Chi M, Feltovich PJ, Glaser R. 1981. Representation of physics knowledge by experts and novices. Cognitive Science 5: 121-152.
14. Cockburn IM, Henderson RM, Stern S. 2000. Untangling the origins of competitive advantage. Strategic Management Journal 21(10/ 11): 1123-1145.
15. Cohen MD, Burkhart R, Dosi G, Egidi M, Marengo L, Warglien M, Winter S. 1996. Routines and other recurring action patterns of organizations: contemporary research issues. Industrial and Corporate Change 5(3): 653-698.
16. Cooper KG. 1980. Naval ship production: a claim settled and framework built. Interfaces 10(6): 20-36.
17. Cyert RM, March JG. 1963. A Behavioral Theory of the Firm. Blackwell: Oxford (2nd edn published 1992).
18. Dawes RM. 1979. The robust beauty of improper linear models in decision making. American Psychologist 34(7): 571-582.
19. Dawes RM, Corrigan B. 1974. Linear models in decision making. Psychological Bulletin 81(2): 95-106.
20. Diehl E, Sterman JD. 1995. Effects of feedback complexity on dynamic decision making. Organizational Behavior and Human Decision Processes 62(2): 198-215.
21. Dierickx I, Cool K. 1989. Asset stock accumulation and sustainability of competitive advantage. Management Science 35(12): 1504-1511.
22. Eden C, Spender J-C (eds). 1998. Managerial and Organizational Cognition: Theory, Methods, and Research. Sage: London.
23. Ericsson KA, Krampe TT, Tesch-Romer C. 1993. The role of deliberate practice in the acquisition of expert performance. Psychological Review 100: 363-406.
24. Ford DN, Sterman JD. 1998. Dynamic modelling of product development processes. System Dynamics Review 14(1): 31-68.
25. Forrester JW. 1961. Industrial Dynamics. MIT Press: Cambridge, MA. (Now available from Pegasus Communications, Waltham, MA.)
26. Forrester JW. 1963. Dynamics of corporate growth. In Management Strategy for Corporate Growth in New England. Massachusetts Institute of Technology: Cambridge, MA.
27. Forrester JW. 1964. Modeling the dynamic processes of corporate growth. Paper read at Proceedings of the IBM Scientific Computing Symposium on Simulation Models and Gaming, 7-9 December 1964, Yorktown Heights, NY (also available as D-Memo 4054).
28. Forrester JW. 1983. Future development of the system dynamics paradigm. Paper read at International System Dynamics Conference. http://www.systemdynamics.org/newsletters/PresAddrss83Conf.pdf [7 October 2008].
29. Forrester JW. 1992. Policies, decisions, and information sources for modeling. European Journal of Operational Research 59(1): 42-63.
30. Forrester JW, Senge PM. 1980. Tests for building confidence in system dynamics models. TIMS Studies in the Management Sciences 14: 209-228.
31. Foss NJ, Knudsen C, Montgomery CA. 1995. An exploration of common ground: integrating evolutionary and strategic theories of the firm. In Resource-Based and Evolutionary Theories of the Firm, Montgomery CA (ed.). Kluwer: Boston, MA; 1-17.
32. Gary MS. 2002. Exploring the impact of organizational growth via diversification. Simulation Modelling Practice and Theory 10: 369-386.
33. Gary MS. 2005. Implementation strategy and performance outcomes in related diversification. Strategic Management Journal 26: 643-664.
34. Gary MS, Wood RE. 2008. Mental models, decision rules, strategies, and performance heterogeneity. Social Science Research Network (SSRN) Working Paper Series. http://ssrn.com/abstract=1135763 [7 October 2008].
35. Gary MS, Dosi G, Lovallo D. 2008. Boom and bust behavior: on the persistence of strategic decision biases. In The Oxford Handbook of Organizational Decision Making, Hodgkinson GP, Starbuck WH (eds). Oxford University Press: Oxford; 33-55.
36. Gavetti G, Levinthal DA. 2004. The strategy field from the perspective of management science: divergent strands and possible integration. Management Science 50(10): 1309-1318.
37. Gavetti G, Rivkin JW. 2005. How strategists really think: tapping the power of analogy. Harvard Business Review 83(4): 54-63.
38. Gavetti G, Levinthal DA, Rivkin JW. 2005. Strategy making in novel and complex worlds: the power of analogy. Strategic Management Journal 26(8): 691-712.
39. Ghemawat P. 1991. Commitment. Free Press: New York.
40. Ghemawat P, Cassiman B. 2007. Introduction to the special issue on strategic dynamics. Management Science 53(4): 529.
41. Gick ML, Holyoak KJ. 1983. Schema induction and analogical transfer. Cognitive Psychology 15: 1-38.
42. Gigerenzer G, Todd P and the ABC Group. 1999. Simple Heuristics that Make Us Smart. Oxford University Press: Oxford.
43. Ginsberg A. 1990. Connecting diversification to performance: a sociocognitive approach. Academy of Management Review 15(3): 514-535.
44. Hall RI. 1976. A system pathology of an organization: the rise and fall of the old Saturday Evening Post. Administrative Science Quarterly 21: 185-211.
45. Hodgkinson GP, Maule AJ, Bown NJ. 2004. Causal cognitive mapping in the organizational strategy field: a comparison of alternative elicitation procedures. Organizational Research Methods 7(1): 3.
46. Hogarth RM. 1987. Judgment and Choice (2nd edn). Wiley: Chichester.
47. Huber J. 1975. Bootstrapping of data and decisions. Journal of Consumer Research 2(3): 229-234.
48. Huff AS. 1990. Mapping Strategic Thought. Wiley: New York.
49. Kahneman D, Tversky A. 2000. Choices, Values, and Frames. Cambridge University Press: Cambridge, U.K.
50. Kunc M. 2007. Portraying managerial dynamic capabilities: a case study in the fast-moving consumer goods industry. International Journal of Learning and Intellectual Capital 4(1): 92-110.
51. Kunc M, Morecroft JDW. 2005. Exploring managerial cognition in resource-building strategies. Paper read at European Academy of Management Conference, Munich.
52. Kunc M, Morecroft JDW. 2007. Competitive dynamics and gaming simulation: lessons from a fishing industry simulator. Journal of the Operational Research Society 58: 1146-1155.
53. Lane DC. 1998. Can we have confidence in generic structures? Journal of the Operational Research Society 49: 936-947.
54. Langley PA, Morecroft JDW. 2004. Performance and learning in a simulation of oil industry dynamics. European Journal of Operational Research 155: 715-732.
55. Lenox MJ, Rockart SF, Lewin AY. 2006. Interdependency, competition, and the distribution of firm and industry profits. Management Science 52(5): 757.
56. Lenox MJ, Rockart SF, Lewin AY. 2007. Interdependency, competition, and industry dynamics. Management Science 53(4): 599.
57. Levinthal DA. 1995. Strategic management and the exploration of diversity. In Resource-Based and Evolutionary Theories of the Firm: Towards a Synthesis, Montgomery CA (ed.). Kluwer Academic: Boston, MA; 19-42.
58. Levinthal DA. 1997. Adaptation on rugged landscapes. Management Science 43: 934-950.
59. Markman AB, Gentner D. 1993. Structural alignment during similarity comparisons. Cognitive Psychology 25: 431-467.
60. Meadows DL. 1970. Dynamics of Commodity Production Cycles. Productivity Press: Cambridge, MA. (Now available from Pegasus Communications, Waltham, MA.)
61. Mollona E. 2002. A competence view of firms as resource accumulation systems: a synthesis of resource-based and evolutionary models of strategy-making. In Systems Perspectives on Resources, Capabilities, and Management Processes. Elsevier Pergamon: Oxford; 93-125.
62. Morecroft JDW. 1983. System dynamics: portraying bounded rationality. Omega 11(2): 131-142.
63. Morecroft JDW. 1985a. The feedback view of business policy and strategy. System Dynamics Review 1(1): 4-19.
64. Morecroft JDW. 1985b. Rationality in the analysis of behavioral simulation models. Management Science 31(7): 900-916.
65. Morecroft JDW. 1999a. Management attitudes, learning, and scale in successful diversification: a dynamic and behavioral resource system view. Journal of the Operational Research Society 15(4): 315-336.
66. Morecroft JDW. 1999b. Visualising and rehearsing strategy. Business Strategy Review 10(3): 17-32.
67. Morecroft JDW. 2002. Resource management under dynamic complexity. In Systems Perspectives on Resources, Capabilities and Management Processes, Morecroft JDW, Sanchez R, Heene A (eds). Elsevier Pergamon: Oxford.
68. Morecroft JDW. 2007. Strategic Modelling and Business Dynamics: A Feedback System Approach. Wiley: Chichester.
69. Moxnes E. 1998. Not only the tragedy of the commons: misperceptions of bioeconomics. Management Science 44(9): 1234-1248.
70. Nelson RR, Winter SG. 1982. An Evolutionary Theory of Economic Change. Harvard University Press: Cambridge, MA.
71. Nord OC. 1963. Growth of a New Product: Effects of Capacity Acquisition Policies. MIT Press: Cambridge MA.
72. Ocasio W. 1997. Towards an attention-based view of the firm. Strategic Management Journal 18: 187-206.
73. Oliva R, Sterman JD. 2001. Cutting corners and working overtime: quality erosion in the service industry. Management Science 47(7): 894-914.
74. Oliva R, Sterman JD, Giese M. 2003. Limits to growth in the new economy: exploring the "get big fast" strategy in e-commerce. System Dynamics Review 19(2): 83-117.
75. Paich M. 1985. Generic structures. System Dynamics Review 1(1): 126-132.
76. Paich M, Sterman JD. 1993. Boom, bust, and failures to learn in experimental markets. Management Science 39(12): 1439-1458.
77. Penrose E. 1959. The Theory of the Growth of the Firm. Wiley: New York.
78. Peteraf MA. 1993. The cornerstone of competitive advantage: a resource-based view. Strategic Management Journal 14: 179-192.
79. Porter ME. 1980. Competitive Strategy. Free Press: New York.
80. Porter ME. 1991. Towards a dynamic theory of strategy. Strategic Management Journal 12: 95-117.
81. Prahalad CK, Bettis RA. 1986. The dominant logic: a new linkage between diversity and performance. Strategic Management Journal 7: 485-501.
82. Prahalad CK, Hamel G. 1990. The core competence of the corporation. Harvard Business Review 68(3): 79-91.
83. Repenning NP. 2003. Selling system dynamics to (other) social scientists. System Dynamics Review 19(4): 303.
84. Roberts EB. 1978. A simple model of R&D project dynamics. In Managerial Applications of System Dynamics, Roberts EB (ed.). Productivity Press: Cambridge, MA. (Now available from Pegasus Communications, Waltham, MA.)
85. Rockart SF. 2000. Calling spirits from the deep: developing sophisticated customers. Doctoral dissertation, System Dynamics Group, MIT Sloan School of Management, Cambridge, MA.
86. Rockart SF. 2007. Learning, industry structure, and competition. Manuscript in progress.
87. Rockart SF, Mitchell W. 2007. High point or hobgoblin? Consistency and performance in organizations. Manuscript in progress.
88. Rodrigues AG, Williams TM. 1998. System dynamics in project management: assessing the impacts of client behaviour on project performance. Journal of the Operational Research Society 49(1): 2-15.
89. Rubin PH. 1972. The expansion of firms. Journal of Political Economy 81(4): 936-949.
90. Rumelt RP. 1991. How much does industry matter? Strategic Management Journal 12(3): 167-185.
91. Saloner G. 1991. Modeling, game theory, and strategic management. Strategic Management Journal 12: 119-136.
92. Sastry A. 1997. Problems and paradoxes in a model of punctuated organizational change. Administrative Science Quarterly 42: 237-275.
93. Schmidt HG, Boshuizen HPA. 1993. On acquiring expertise in medicine. Educational Psychology Review (Historical Archive) 5(3): 205-221.
94. Selznick P. 1957. Leadership in Administration: A Sociological Interpretation. Harper & Row: New York.
95. Senge PM. 1990. The Fifth Discipline: The Art and Practice of the Learning Organization. Doubleday Currency: New York.
96. Sengupta K, Abdel-Hamid TK. 1993. Alternative conceptions of feedback in dynamic decision environments: an experimental investigation. Management Science 39(4): 411-428.
97. Simon HA. 1960. The corporation: will it be managed by machines? In Management and the Corporations, Anshen ML, Bach GL. McGraw-Hill: New York; 17-55.
98. Sterman JD. 1987. Testing behavioral simulation models by direct experiment. Management Science 33(12): 1572-1592.
99. Sterman JD. 1988. Modeling the formation of expectations: the history of energy demand forecasts. International Journal of Forecasting 4(2): 243.
100. Sterman JD. 1989a. Misperceptions of feedback in dynamic decision making. Organizational Behavior and Human Decision Processes 43(3): 301-335.
101. Sterman JD. 1989b. Modeling managerial behavior: misperceptions of feedback in a dynamic decision experiment. Management Science 35(3): 321-339.
102. Sterman JD. 2000. Business Dynamics: Systems Thinking and Modeling for a Complex World. McGraw-Hill: New York.
103. Sterman JD, Henderson R, Beinhocker ED, Newman LI. 2007. Getting big too fast: strategic dynamics with increasing returns and bounded rationality. Management Science 53(4): 683-696.
104. Thornton PH. 2002. The Rise of the corporation in a craft industry: conflict and conformity in institutional logics. Academy of Management Journal 45(1): 81-101.
105. Warren K. 1999. The dynamics of rivalry. Business Strategy Review 10(4): 41-54.
106. Warren K. 2002. Competitive Strategy Dynamics. Wiley: Chichester.
107. Wernerfelt B. 1984. A resource-based view of the firm. Strategic Management Journal 5: 171-180.
108. Zajac EJ, Bazerman MH. 1991. Blind spots in industry and competitor analysis: implications of interfirm (mis)perceptions for strategic decisions. Academy of Management Review 16(1): 37-56.