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What is turning point?
In every scenario, there comes a time when conditions change abruptly. It could be for good or for worse. At this point, several factors shift or change their dynamics, resulting in a downturn or mostly upturn in fortune. That will be called turning point.
The term can be viewed from different perspectives. This work will view turning point from a positive perspective. A turning point can be an event that necessitates a rapid succession of events that changes the dynamics, trends, and directions of a story or real life event.
In business, it could be the point at which profits rise from a period of dormancy or continued loss.
Turning point can best be defined as that point when an event or something happens in such a way that causes a deviation, alteration, and irreversible change in direction. These points or events are also referred to as inflection points.
Turning point is an event or happening that can stimulate, spur, or force noticeable change in the progress been made by an individual, organization, or any other geopolitical grouping. Such an event may bring about either positive or negative consequences.
In trying to depict this pictorially, mathematical models can be helpful. In a curve, the turning point is that point on the curve where the change in direction is sharp and abrupt.
The deviation from normal on the curve should be significant, recognizable, and linked to a specific cause. Most financial, business, and economic data, like gross domestic product (GDP), gross national income (GNI), and variations in prices of securities, use the turning point curve to explain some circumstantial information. These events are not applicable to normal fluctuations in markets not attributable to an event.
Any such point brings about change. The way one thinks and acts changes noticeably once they arrive at a such point. Positive turning points should be managed effectively to ensure they are sustainable over a long period of time. These points in a company can be a result of internal distortions that trigger the change or external intervention or disruptions.
For example, the price of oil is low, when compared to the budgetary needs of oil producing countries. If a conflict breaks out between the United States of America and Russia, with the involvement of the Saudis, the price of oil will go up.
This is because there will be disruptions in oil production in these three large oil producing and consuming countries. This will lead to a sharp increase in the price of oil. This implies most oil producing countries not involved in the war will have increased revenues and more buoyant economies. From the foregoing, the turning point for the dwindling economies of the oil producing countries is the break out of war among these three countries.
In trying to understand turning points comprehensively, one must remember it involves the disruption of a cycle and the culmination of another cycle operating in opposite direction to the previous cycle.