Some examples of inflection points in business history include the advent of the internet, which drastically changed how businesses operate and communicate; the introduction of smartphones, which revolutionized the way consumers interact with businesses; and the implementation of new regulations such as GDPR, which forced businesses to change their data handling practices. Other examples could include the rise of e-commerce, the shift towards remote work, and the increasing importance of sustainability in business practices.
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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...