Abstract for: How to Approach New Industries and Gain Insights Into Their Development Dynamics
In today’s business environment it is essential to be able to gain insights in a yet unfamiliar industry under tough time constraints. The 7 step framework we suggest addresses this issue. Following the standardised sequence of steps will direct the user to identifying the industry’s main influencing factors. The historical development of the industry’s output variable will be approximated by model simulations. An analysis of the peaks in relative deviations between real and simulated data will spotlight the industry’s significant events and influencing factors. Compared to traditional market and environment analysis techniques our framework takes the particular industry’s development dynamics into account. Thus we choose System Dynamics as underlying methodology which has already proven useful for understanding market dynamics and gaining structural insights. The 7 step framework will be illustrated with the development of passenger traffic at German airports.