Do the concepts, methods, and resulting insights that constitute the field of system dynamics have much to offer for research in strategy? While we believe the answer is yes, it is easy to conclude otherwise. Insights about equilibrium conditions arising from economics and sociology serve as the primary theoretical underpinnings for most researchers and teachers of strategy. Unsurprisingly, therefore, formal models in strategy generally derive equilibrium states based on the assumption that actors optimize under various constraints and most empirical work in strategy looks for evidence of contingencies affecting presumed equilibrium outcomes. Over the last several decades, strategy academics have produced and imported a huge stock of such comparative-statics insights and evidence. This stock overshadows the much smaller stock of research on dynamics and behavioural decision making in the system dynamics tradition.