System dynamics (SD) has been proved to be a useful methodology to support both un- derstanding and learning processes of complex systems and phenomena. Since its origin, SD has been successfully applied to many different fi elds of studies (e.g. climate change, physics, engineering, environmental sciences, economics, management, etc.). Among these, strategic management (SM) has a particular relevance as testi fi ed by several streams of research that originate from the combination between SD modelling and SM. The aim of this paper is to explore and discuss the theoretical and empirical development of SD in the SM fi eld through a systematic analysis of the literature in order to highlight the main research themes and developmental patterns of the key contributions to date, as well as to provide an overview of SD application to SM literature for further research to build on. Copyright © 2016 John Wiley & Sons, Ltd.