Simulation: When all else fails

Abstract

Traditionally, corporate planning was, and sometimes still is, a curious blend of aspiration, perspiration, and inspiration. In this age of Future Shock these virtues are admirable but not sufficient. Nor do simple trend projections deal effectively with external conditions related to consumer behavior, federal reserve policies, energy uncertainties, stock market fluctuations, and technical innovations such as computer networks and time‐sharing. Fortunately, a relatively new tool, made possible through electronic computers, improves the planner's capability to cope with accelerated change and the increasing risks associated with planning for such change.

Citation

Smith, R.D. and Morris, J.G. (1976), "Simulation: When all else fails", Planning Review, Vol. 4 No. 3, pp. 13-21. https://doi.org/10.1108/eb053758