Foundations of Dynamic Economic Analysis or Supporting Strategy

Foundations of Dynamic Economic Analysis: Optimal Control Theory and Applications

Author: Michael Ralph Caputo

Presenting a thorough introductory exposition of optimal control theory, this work differs from the existing textbooks on the subject due to its emphasis on the economic interpretation of the mathematics and the qualitative properties of the solutions. Moreover, it is a modern exposition of optimal control theory in that it presents numerous complementary methods. It is aimed at first-year and second-year PhD students in economics, agricultural and resource economics, operations research, management science, and applied mathematics.

Interesting textbook: Daily Word for Weight Loss or Power Yoga

Supporting Strategy: Frameworks, Methods and Models

Author: Frances A OBrien

"In this unique book, management science lifts its view to take in the broader horizons of strategy. the result is a frame work for strategy development, and a range of methods and models to make it operational." - Professor Jonathan Rosenhead, London School of Economics

"This book will be invaluable for both strategists who need practical tools and for management scientists who are interested in strategic decisions."- John Mingers, Professor of Operational research and Systems, Kent Business School, University of Kent, UK

"The authors see strategy formulation and implementations as inseparable activities in which every organisation engages on a continuous basis. This means that this book has the wide scope needed by a manger, from visioning through to performance measurement and financial evaluation. By brining the range of contributors need to cover this space, the authors have managed to provide both a conceptual frame work and the detail needed by real managers who can benefit from the tools and methods described." - Gill Ringland, CEO and Fellow, SAMI Consulting, St Andrews Management Institute

In Changing world, there is no option to stand still; organisations need to review their direction, to create new initiatives, and crucially they need to rehearse their ideas rather than hope for the best.

Supporting Strategy: Frameworks, Methods and Models provides the reader with a balanced process for strategic development, spanning direction setting, strategy creation, rehearsal, evaluation and choice, leading to a continuous process of adopting strategic initiatives. It brings together tools from the fields of Strategy and Operational research/Management Science, Creating a unique collection of practical frameworks, methods and models that individually and in combination provide a valuable resource for the practice of supporting strategy. Topics covered by the book include: drama theory, visioning, problem structuring methods, resource based view of strategy, SWOT/TOWS analysis, system dynamics, agent based modelling, scenario planning, decision and risk analysis, financial evaluation, real options, robustness analysis and performance measurement.

This book is a valuable resource for managers how are looking for ways to support strategic development in their organisations. It is also essential reading for students studying management science/operational research and strategy courses.

Table of Contents:

Preface     ix
About the Contributors     xi
Introduction     1
The Strategic Development Process   Robert G. Dyson   Jim Bryant   John Morecroft   Frances O'Brien     3
Setting Direction     25
Visioning: A Process for Strategic Development   Maureen Meadows   Frances O'Brien     27
Achieving Strategy Coherence   Jim Bryant   Nigel Howard     55
Problem Structuring and the Building and Negotiation of Strategic Agendas   Alberto Franco   Jim Bryant   Giles Hindle     87
Creating Strategic Initiatives     115
Strategy Creation - The Resource-Based View   Abhijit Mandal     117
Methods for Creating Strategic Initiatives   Robert G. Dyson     137
Rehearsing Strategy     155
System Dynamics Modelling for Strategic Development   Martin Kunc   John Morecroft     157
The Impact of Organisational Complexity in the Strategy Development Process   Adrian A. Caldart   Fernando S. Oliveira     191
Creating and Using Scenarios - Exploring Alternative Possible Futures and their Impact on Strategic Decisions   Frances O'Brien   MaureenMeadows   Martin Murtland     211
Evaluating Performance     249
Decision and Risk Analysis for the Evaluation of Strategic Options   Gilberto Montibeller   Alberto Franco     251
Performance Measurement   Efstathios Tapinos   Robert G. Dyson     285
A Financial Perspective on Strategic Investments   Robert H. Berry     313
Flexibility, Robustness and Real Options   Robert G. Dyson   Fernando S. Oliveira     343
Combining Approaches to Support Strategic Development     367
Gone Fishing: A Case Study   Jim Bryant   Maureen Meadows   John Morecroft   Frances O'Brien     369
Author Index     395
Subject Index     401