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But here's one that isn't: Andy Grove, co-founder of Intel, liked to say that companies come to "strategic inflection points," where the fundamentals of a business change and they either make the hard decision to invest in a down cycle and take a more promising trajectory or do nothing and wither.
The alternative to patiently waiting for strategic inflection points is to put a stake in the ground for whatever technology is currently percolating.
Allocate time for strategic topics at key board meetings and from time to time, invite an outside/expert that can challenge the group at key strategic inflection points.
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This is a strategic inflection point.
The U.S. is at just such a strategic inflection point.
He said he believes that in the second decade after the terrorist attacks of 9/11, the military is confronting "a strategic inflection point, where the institution fundamentally re-examines itself".
Shortly after being sworn in as chairman last October, a decade after the terrorist attacks of Sept. 11, 2001, General Dempsey said the military was confronting "a strategic inflection point, where the institution fundamentally re-examines itself".
In Intel's case, such a "strategic inflection point" arose because its memory-chip business came under heavy assault from new Japanese rivals willing to undercut any price Intel offered.What could he do?
In Choose and Focus, the first in-depth account of this strategic inflection point in Japanese business, Ulrike Schaede argues that the emerging practices and attitudes have created a New Japan.
A strategic inflection point, he says, is "a time in the life of a business when its fundamentals are about to change". Inflection points are difficult for traditional strategy tools to address, because they usually don't look important at first.
Grove, 71, coined the metaphor "strategic inflection point" to describe the moment when an industry or company changes its trajectory.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com