Under Andy Grove's leadership, "Intel" has become the world's largest computer chip maker, the fifth most admired company in America and the seventh most profitable company among the Fortune 500. There are moments in any business when massive change occurs, when the rules of business shift fast. Grove calls such moments strategic inflection points (SIPS). They can be set off by almost anything from mega-competition to a seemingly modest change in technology. Intel's first SIP was when the Japanese started producing better-quality, lower-cost memory chips. It took Grove three years and huge losses to recognize that he had to rethink and reposition the company if it was to become, once again, a leader in its field. Grove extrapolates the lessons he has learned from this and other SIPs to reveal an insight into the management of change. He recounts strategies from other companies and examines his own record of success and failure.