The document contains 4 questions related to system dynamics modeling. The first asks about the major steps in the modeling process. The second explains that computer simulation is essential for system dynamics as it allows testing of models over time. The third provides variables to include in a causal loop diagram illustrating how word of mouth and media reports can create a hot product through their effect on sales growth rate. The fourth asks about the role of management flight simulators in management education.

1. System Dynamics _ First Question:
State and explain, in details, the major steps of the modelling process in system
dynamics.
System Dynamics _ Second Question:
Computer simulation is essential in system dynamics. Explain why.
System Dynamics _ Third Question :
Draw a casual-loop diagram to illustrate how word of mouth and media reports create
a hot product (i.e. its sales rate is growing fast).
The causal-loop diagram should contain the following variables:
- Favourable Word of Mouth
- Industry Demand
- Installed Base
- Market Share
- Media Reports
- Perception of Hot Product
- Sales
- Sales Growth Rate
Remember to label links {+ or -}, and to label loops {R or B}.
System Dynamics _ Fourth Question:
Explain the role of “management flight simulators” in management education.