The Inflection Point
Critical Pathways in Food Retailing
A STRATEGIC INFLECTION
POINT IS A TIME IN THE LIFE
OF A BUSINESS WHEN ITS
FUNDAMENTALS ARE ABOUT TO
CHANGE. THEY ARE THE RESULT
OF AN EVENT WHICH CHANGES
THE WAY WE THINK OR ACT
Andrew S. Grove
Successful retailers will need to become masters of managing the innovation pipeline - building capabilities and processes to identify potential Accelerators and Disruptors and to test the implications of these for their market and their own business. The following is a recap of the critical findings of the study:
- Build an effective innovation model for your organisation.
This model requires a scanner to monitor trends, a filter to process ideas and strong execution capabilities, combined with the ability to foster both continuous and step change innovation.
- Develop critical capabilities within your organisation.
These include strong consumer insights, people development and leadership skills to determine and reinforce critical decisions.
- Effectively respond to potential Signposts.
The study identified six macro trends that threaten to become imminent Inflection Points. Assess these trends for the likelihood of their occurrence in your market and whether you want to lead, or react.
- Play to your strengths.
The appropriate response to change needs to be dictated by company size, market dynamics, niche vs mass positioning and a critical assessment of your company's core competencies.
- Are you prepared for the future?
Conduct a critical self-analysis to understand where and how your organisation needs to evolve in the future.
Surviving future Inflection Points demands that retailers actively develop the appropriate capabilities to succeed in a future market that promises to be even more dynamic in the next decade.
Download the entire report (pdf)