The Case for Formal Business Modeling

All models are wrong—many are useful.

• Formal models help make our assumptions explicit and, consequently, testable.
• The act of modeling sharpens our intuition by clarifying our assumptions regarding cause and effect.
• Testing the boundaries of our models helps us understand the conditions under which a strategy can work—and when it won’t.

In other words, formal business models can help us learn, explore, and communicate—even when prediction isn’t plausible.

Course Curriculum