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Businesses can prepare for demographic shifts that could lead to inflection points by staying informed about changes in their industry and adapting their strategies accordingly. This could involve conducting regular market research, investing in new technologies, and training staff to deal with new challenges. It's also important for businesses to maintain open lines of communication with their customers and employees, as they are often the first to notice changes in the market.
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An inflection point is a transformation of the business environment caused by factors like technological change, demographic shift, or new regulations. It changes the very fundamentals of business, destroys existing incumbents, and generates new opportunities. Being able to spot inflection points early can give an organization tremendous strategic advantage. Inflection points often follow a pattern of hype, dismissal, emergence, and maturity. Inflection points are often invisible to the boardroom. The earliest signs emerge from the edges of the organization, where it interfaces with the outside environment. It is therefore beneficial to create information flows from the edges to the top management. Employees shield leaders from unpleasant information to create a good impression. To overcome this, leaders must "get out of the building" and systematically expose themselves to the interfaces where customers engage with the organization. Delegate small teams at the front lines to make deci...
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How can you foresee new growth opportunities and take advantage of the next inflection point? Distilled from decades of consulting expertise on innova...
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