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System thinking contributes to problem-solving in business by providing a holistic view of the situation or problem at hand. It allows businesses to understand the complex interrelationships and dependencies within their organization and the external environment. This understanding can lead to more effective decision-making, as it takes into account the potential impacts of decisions on all parts of the system. It also helps in identifying the root causes of problems, rather than just treating the symptoms.
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Stocks are the "foundation" of a system and are the element that you can see, feel, count, or measure. A feedback loop is formed when changes in stock affect the flows into or out of that same stock. A prime example of this concept is interest as it relates to the amount of money in a bank account. Likewise, if you see less money in your account, you might react and take more work and thus the cycle continues.
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How do you avoid wasted time, money, and resources from short-sighted decisions? When you think in systems, you can learn to recognize the relationshi...
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