An inflection point refers to a key event that changes the trajectory of some process or situation related to the economy or society.
Tipping points are more significant than the small day-to-day successes typically achieved in a company, and the consequences of change are often well known and widely shared.
Finding an inflection point is often a sign that an affected industry needs to make certain fundamental changes in order to continue its operations.
Inflection points can be intentional (actions taken by a company or competitor) or unintentional (those that occur by chance or as a result of unforeseen events).
If companies can’t adapt to the tipping point, they won’t be able to keep up with the competition and will go out of business. For those who can adapt, inflection points can be an advantage.