Simulation modeling - An effective method in doing business and management research

Nguyen Thi Bich Tram ()
Additional contact information
Nguyen Thi Bich Tram: Ho Chi Minh City Open University, Vietnam

HO CHI MINH CITY OPEN UNIVERSITY JOURNAL OF SCIENCE - ECONOMICS AND BUSINESS ADMINISTRATION, 2022, vol. 12, issue 1, 108-124

Abstract: Although simulation modeling is a popular method in doing scientific research for many disciplines, namely decision science, optimization, information technology. Social science disciplines, particularly business and management, still receive little attention in applying this method. The paper introduces simulation modeling as an effective method in doing business and management research using Dimensions database and comparative analysis to explore (1) suitability and contribution in general disciplines as well as business and management, (2) advantages and disadvantages, (3) common types of models, and (4) effective software that researchers could use for specific research problems. The findings of this study confirm that simulation modeling is an effective method in doing business and management research thanks to its abilities in dynamics reflecting the real world, abstracted illustration, and naturally accommodating more plausible behavioral assumptions. However, modelers need to be aware of computational possibilities, the model’s complexity, and validity which might impact the simulated research results. The objective of this study is a calling for more simulation-based research to tackle complicated study problems related to business organizations with advanced technology and powerful tools listed in the paper. Thus, modelers are served well by this work as a reference for basic knowledge related to simulation modeling in business and management research.

Keywords: business and management research methods; dimensions database; simulation modeling (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://journalofscience.ou.edu.vn/index.php/econ-en/article/view/1916/1605 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bjw:econen:v:12:y:2022:i:1:p:108-124

DOI: 10.46223/HCMCOUJS.econ.en.12.1.1916.2022

Access Statistics for this article

HO CHI MINH CITY OPEN UNIVERSITY JOURNAL OF SCIENCE - ECONOMICS AND BUSINESS ADMINISTRATION is currently edited by Nguyen Thuan

More articles in HO CHI MINH CITY OPEN UNIVERSITY JOURNAL OF SCIENCE - ECONOMICS AND BUSINESS ADMINISTRATION from HO CHI MINH CITY OPEN UNIVERSITY JOURNAL OF SCIENCE, HO CHI MINH CITY OPEN UNIVERSITY
Bibliographic data for series maintained by Vu Tuan Truong ().