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Innovation plays a crucial role in responding to strategic inflection points. It allows businesses to adapt to changes in the environment, whether they are technological, regulatory, or demographic. By innovating, companies can create new products, services, or processes that align with the new business landscape, thereby gaining a strategic advantage. Innovation also helps businesses to avoid becoming outdated or obsolete.
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A strategic inflection point is a change in the environment that shifts the very fundamentals of business. Inflection points can be caused by factors like technological change, regulation, and demographic change. They destroy existing businesses and outdated technologies while creating vast new entrepreneurial opportunities. While inflections may appear sudden, they have been gestating for a while. Read on to learn how to spot inflections early and create strategic advantage for your organization.
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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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