Executive Overview Andrew S. Grove has made outstanding contributions to both the business and academic communities. He co-founded Intel Corporation in 1968, and as the current chairman of the board and former CEO, led it to become the world's largest microprocessor manufacturer. With 1998 revenues surpassing $26 billion. Intel is also one of the world's most highly successful companies. Dr. Grove's spectacular achievements have been recognized by many organizations. Three prestigious awards he received in 1997 were Time magazine's Man of the Year, CEO magazine's CEO of the Year, and Industry Week magazine's Technology Leader of the Year. Dr. Grove has also been actively involved in the academic community, and has teaching appointments at the University of California, Berkeley, and the Stanford University Graduate School of Business. He holds several patents on semiconductor devices and technology, and has written over 40 technical papers and several books, including Physics and Technology of Semiconductor Devices (Wiley, 1967), High Output Management (Random House, 1983), One-on-One With Andy Grove (Putnam's Sons, 1987). and Only the Paranoid Survive (Doubleday, 1996). He has also been a frequent contributor to Fortune, The Wall Street Journal, The New York Times, and Working Woman magazine. Dr. Grove emigrated to the U.S. from Hungary and subsequently earned a BA in chemical engineering from the City College of New York, and a PhD from the University of California, Berkeley. Andrew Grove was a keynote speaker at the 1998 Academy of Management annual meeting. He used the opportunity to draw the attention of Academy members to an emerging phenomenon that he calls strategic inflection points. Dr. Grove discussed the fundamental changes that might alter the way business is conducted, and shared his opinions about the best adjustment practices available to remain competitive. An adapted version of his speech appears below, followed by an interview by the editor of The Executive.