Simulation Articles from McKinsey
An insightful and provocative series of simulation articles (40 page PDF document) from McKinsey & Company that explain how simulations can be the key to successful strategic change.
Articles include--
- Is Simulation Better Than Experience? Three McKinsey consultants argue that experience may not always be the best teacher. The reason is that in real-life, cause-and-effect relationships are blurred because real-time is too slow. Using simulation to collapse time and space may be the best way to change people's understanding and behavior.
- Games Managers Should Play presents practical tools developed from game theory to help managers make better strategic decisions when facing uncertainties of competition.
- Strategy Under Uncertainty provides an overview that presents a four-level framework for thinking rigorously about different levels of undertainty companies face.
Posted by Michael Bean
