The Important Role of System Dynamics Investigation on Business Model, Industry and Performance Management

Purpose:
This research studies the development of the evolving dynamic system model and explores the important elements or factors and what detailed attributes are the main influences model in achieving the success of a business, industry and management. It also identifies the real and major differences between static and dynamic business management models and the detailed factors that influence them. Later, this research investigates the benefits/advantages and limitations/disadvantages of some research studies. The studies conducted in this research put more emphasis on the capabilities of system dynamics in modeling and the ability to measure, analyze and capture problems in business,
industry, manufacturing etc.

Design/Methodology/Approach:
The research presented in this work is qualitative research based on a literature review. Publicly available research publications and reports have been used to create a research foundation, identify the research gaps, and develop new analyses from the comparative studies. As the literature review progressed, the scope of the literature search was further narrowed down to the development of system dynamics models. Often, references to certain selected literature have been examined to find other relevant literature. To do so, a supporting tool (that connects related articles) provided by
Google Scholar, Scopus, and particular journals has been used.

Findings:
The dynamic business and management model is very different from the static business model in complexity, formality, flexibility, capturing, relationships, advantages, innovation model, new goals, updated information, perspective, and problem-solving abilities. The initial approach of a static system was applied in the canvas business model, but further developments can be continued with a dynamic system approach.

Originality/value:
The significant differences between static and dynamics can be used for business research and strategic performance management. This comparative study analyses some system dynamics models from many authors worldwide. Their goals are behind their strategic business models and encounters
for their respective progress. This approach may serve as a checklist for new researchers in the field.