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Social environments can be presented as complex systems that are continually changing their structures in a nonlinear fashion. However, this notion of complexity is commonly disregarded in the study of strategic interactions between competing actors. One of the major reasons for this is the inability to collect sufficient empirical data in order to adequately study decision making under dynamic circumstances. In order to cope with this problem an online simulator module is being developed. This module allows researchers to create interactive simulators that confront human subjects with virtual social environments designed by the researcher. Unlike previous simulator modules, this one provides a high degree of flexibility and imposes fewer restrictions on the simulated environment and the manner in which decisions can be made. Thus, the subjects operating this simulator can pursue multiple policies simultaneously rather than choosing between alternatives. They can make decisions in real time and receive feedbacks also at anytime, including delayed feedbacks. Decisions that are made can alter the environment, resulting in changing payoffs and the policies that are available. It is also possible to provide subjects operating the simulator with different formats for presenting information. Another significant feature is the capability to monitor when choices are made and what information is being analyzed and when it is being observed. In comparison to other simulator modules that have been developed in the past, this one is not based on an old simulation language but is completely newly programmed in a language designed for online interactions.

This paper aims to focus on the development of a “dynamic Balanced Scorecard” and to demonstrate that matching the traditional Balanced Scorecard (BSC) architecture with system dynamics principles offers better support for strategic management decisions.

The paper is based on a case study related to a service‐based business. The maps, the mathematical model and the BSC developed according to system dynamics modelling principles are discussed.

A system dynamics‐based BSC, particularly if embedded into a management flight simulator, would allow exploration and understanding of features of complexity and dynamics, consideration of feedback loops rather than unidirectional causality, the use of mapping tools for a more comprehensive design of the strategy maps, the facilitation of a process of organisational learning; and support for policy design and strategic analysis performed by managers.

The value of this paper is two‐fold: first, it shows that by using system dynamics modelling principles it is possible to overcome positively some limitations of the original BSC framework; second, the paper provides information and suggestions that are helpful for companies that are interested in developing strategic management systems based on both BSC architecture and on system dynamics principles and simulation tools (e.g. the management flight simulator).

Computer‐based management education is evolving into a discipline which will affect a wide range of people both as designers and users. Management educators, in business and training organizations, will have the opportunity to deliver modules of their courses and design new learning experiences through this medium. Explores the literature with the objective of highlighting techniques which will help the designer work effectively within the constraints of the medium. It concludes by considering factors which have limited the growth of the medium and strategies which have the potential to overcome these limits.

The international community recognizes the role of entrepreneurship education in fostering economic growth and sustainable development. However, preparing the next generation of entrepreneurs is not an easy task, since today’s complexity requires the creation of skills and capabilities for which the traditional programs reveal their inadequacy. Some scholars remark how entrepreneurship education and entrepreneurial intention are not necessarily related and, in line with policy makers’ concerns, call for educational programs more routed in financial skills’ enhancement. The purpose of this paper is to explore the potential of system dynamics (SD) for entrepreneurial education, investigating the relationships between financial and entrepreneurial skills’ formation and business development.

The paper introduces the main elements of SD, describes literature streams of SD applications fitting the entrepreneurial education spheres and proposes an SD’ insight model based on selected literature and declined in terms of stock-and-flow and causal loop structures.

The study provides a causal model capturing the links between the processes of entrepreneurial skill formation and firms’ start-ups and closures. Such model introduces a double effect of financial literacy on entrepreneurial orientation and locates the contribution of simulated entrepreneurial decisions in formal and informal educational contexts.

The paper displays how SD can contribute to entrepreneurship and presents an original causal model highlighting the accumulation of financial and non-financial skills through education and experience, their impact on business development and the usefulness of SD methodology for skill achievement.

The purpose of this paper is to speculate on the potentials of the system dynamics methodology to contribute to the balanced scorecard (BSC) design and implementation by producing a detailed causal relationships model that links strategic and operational objectives in a more accurate and effective way.

The work is based on the methodological principles and the operational tools provided by the system dynamics methodology and the BSC framework.

One of the main areas that both the relevant literature and Kaplan and Norton identified as critical in developing the original BSC framework is related to the identification and the quantification of “causal relationships” across the BSC, and to the subsequent opportunity to use a mathematical‐computer model to test and simulate such assumptions and their impacts on strategy implementation. Such issues are addressed in this paper.

The paper provides information and consideration on how to model and assess causality and cause‐and‐effect relationships in BSC environments. Subsequently, it provides some reflections on the contribution of the system dynamics methodology for the design and implementation of the BSC.

The value of this paper is two‐fold: first, it shows that relying on system dynamics tools and methodological principles is possible to better define the concept of causality in BSC frameworks; second, it shows that by integrating system dynamics modelling principles and the BSC framework it is possible to develop a comprehensive approach to performance management and strategy formulation and strategy implementation.

Computer‐based training has been around for a while, but available technology has limited its impact. Recently, more powerful personal computers (PCs), laser‐disk storage and better graphics have allowed this tool to support a learning organization. This article explains how.

The purpose of this paper is to explore the way in which system dynamics (SD) can enhance some key success factors of the balanced scorecard (BSC) model and support decision-makers, specifically in analyzing and evaluating the results of hypothetical scenarios. Moreover, the paper aims to emphasize the role played by statistics not only in validating the SD-based BSC, but also in increasing managers’ confidence in the model reliability.

The paper presents a case study, developed according to an action research perspective, in which a three-step approach to the BSC implementation was followed. Specifically, the first step requires the development and implementation of a “traditional” BSC, which is refined and transformed into a simulation SD model in the second step. Last, the SD-based BSC is combined with statistics to develop policy making and scenario analysis.

The integration of BSC and SD modeling enables the development of a comprehensive approach to strategy formulation and implementation and, more importantly, provides a more reliable basis upon which to build and test sound cause-and-effect relationships, within a specific BSC. This paper exemplifies how an SD-based BSC can be used – and perceived reliable – to evaluate different scenarios and mutually exclusive policy effects in a multidimensional approach. In particular, this study illustrates how to forecast and depict trends for financial and non-financial indicators over the simulation period, with reference to three different scenarios.

This paper contributes to the ongoing debate on the BSC by exploring whether a combination of SD and statistics may enhance the BSC system’s advantages and facilitate its implementation process and use for decision-making and scenario analysis.

A widespread interest in organizational learning has been precipitated by the need for radical change and strategic renewal in many institutions. “Learning laboratories” or “microworlds” have been proposed as powerful tools for enhancing learning through experience. As costs of technology decline, and software becomes more accessible, the use of customized computer simulations in microworlds will become a feasible option for many management development programmes. Describes a leadership development programme in the telecommunications industry in which a customized microworld computer simulation was used to promote managerial learning, teamwork and co‐operation. Goals of the programme include development of a new paradigm for competition in the industry and a new vision for the organization. A unique feature of the programme was that success of the microworld was measured and systematically evaluated. A significant impact on improved co‐operation, individual and group learning was observed. Discusses characteristics of microworlds and challenges to simulation designers. Finally, presents some guidelines for successful microworld design, together with suggestions for future microworld application.

The purpose of this paper is to examine the use of simulators as pedagogical complements to traditional case studies. The research performs experiments with a case and its accompanying simulator to assess the additional learning attained by the use of a case with its simulator as compared to using the case alone. The paper also describes the development and proposed use of cases and simulators combined.

The paper describes the development of one companion simulators, it outlines its proposed use, and it shows the results of an experiment to assess marginal learning with the simulator.

The research finds that simulators increase the understanding of subjects when used to support a case study. Students and teachers perceive the use of companion simulators as valuable.

The research provides ground for developing a new generation of case studies in which the traditional case is enhanced and augmented by simulators developed for one particular case and intended to be used only with that case.

This research has practical implications in how management is taught and learned.

The paper has implications in terms of possible changes that can be introduced to the teaching of management in business schools.

This research provides one of the few extant assessments of the learning that can be attained with the use of simulators in management education. The research proposes the creation of a new entity, the “Case+Sim” that draws on the traditional strengths of managerial case studies to be used in educating managers, but complements the case studies with simulators, which provide an added value in permitting students to test their thinking using a realistic interactive learning environment.