Simulations in Management

Human kind was always interested in finding out what the future researves. Kings and queens, rich and poor, educated and less educated people went searching for answers at oracles, fortune tellers, and astrologers. However, their predictions were always questionable; they had no scientific reference and their source was hard to explain and to understand. Can you imagine the CEO of a big company trying to convince the shareholders to invest in a new line of activity because a fortune teller told him/her that a big success awaits for him/her if he/she extends his/her horizon? Somehow, it is hard to believe that with such an argument, he/she will convince the shareholders to putt their hands in their pockets. Therefore, in order to satisfy individuals need of anticipating what may happen, several forecasting techniques and tools were developed. These proved to be extremely useful for those managers who have to build scenarios, develop strategies and make decisions based on the opportunities and threats that may appear in a given period of time.