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The Usage Of System Dynamics In Strategic And Operational Decisions In The Financial Sector

Author

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  • Nicoleta Liliana ROBU

    (The Bucharest University of Economic Studies, Bucharest, Romania)

Abstract

This paper proposes an additional technique in the decision-making process in the financial sector – the application of the system dynamics method in strategic and operational decisions. The applicability of this method is substantiated by an analysis of its relevance for the financial sector, the analysis of opinions of 35 experts (primary research through direct interviews and surveys), and by exploring its usage through two case studies, and the evaluation of the insight obtained and its benefits for an organization in the financial sector. Decision-making is a fundamental component of strategic and operational management; it requires the ability to interpret and act on feedback quickly. System dynamics is a way of studying complex systems to understand their behavior and decisions outcomes.

Suggested Citation

  • Nicoleta Liliana ROBU, 2015. "The Usage Of System Dynamics In Strategic And Operational Decisions In The Financial Sector," Business Excellence and Management, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 5(4), pages 16-25, December.
    • Handle: RePEc:rom:bemann:v:5:y:2015:i:4:p:16-25
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    Cited by:

    1. Akhtar, Ch. Shoaib & Awan, Sajid Hussain & Naveed, Shaheryar & Ismail, Kamariah, 2018. "A comparative study of the application of systems thinking in achieving organizational effectiveness in Malaysian and Pakistani banks," International Business Review, Elsevier, vol. 27(4), pages 767-776.

    More about this item

    Keywords

    Analytical method; Simulation; Interpretation; Decision making; Feedback systems; Systemic correlations; Managerial methodology;
    All these keywords.

    JEL classification:

    • A1 - General Economics and Teaching - - General Economics
    • A2 - General Economics and Teaching - - Economic Education and Teaching of Economics
    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology

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