Differentiation is (normally) a one way process. Cells can't climb back up the mountain and become stem cells again and they can't cross to adjacent valleys to become another type of cell.
De-differentiation can occur in nature, for example as part of a regenerative process in amphibians and worms. De-differentiation can occur in cancer, with cancer cells acquiring stem cell like properties.
Differentiated human skin cells were induced to form pluripotent stem cells. They were then treated with signals that induced differentiation into cardiomyocytes (heart cells). Via growth factors. Twelve days after treatment clumps of cells started beating.