Pivot
Fast track (Summarised definition)
Strategic business change involving significant shift in direction, product, or market focus based on learning and market feedback, essential for startup agility and business adaptation in changing conditions.
Full lap (Full definition)
Pivot refers to strategic business changes involving significant shifts in direction, product focus, or market approach based on learning and market feedback, serving as essential capability for startup agility and business adaptation in changing market conditions and competitive environments.
The importance of pivoting extends beyond direction changes to encompass business survival, opportunity capitalisation, and strategic adaptation. Pivoting enables businesses to respond to market feedback whilst optimising resources and pursuing viable opportunities through strategic business model adaptation and market repositioning.
Pivot types include customer segment changes, problem redefinition, solution modifications, and business model adjustments that provide strategic flexibility whilst enabling business adaptation and opportunity pursuit through systematic change management and strategic repositioning.
Pivot applications encompass startup development, business model evolution, market adaptation, and strategic repositioning that require significant business changes whilst supporting business survival and growth through strategic adaptation and opportunity capitalisation.
Pivot benefits include improved market fit, enhanced business viability, better resource utilisation, and strategic positioning that enable business success whilst providing flexibility and adaptation capability through strategic change management and business evolution.
Pivot implementation involves market analysis, strategic planning, stakeholder communication, and systematic execution that ensure effective business transformation whilst maintaining operational continuity and supporting business objectives through strategic change management.
For businesses facing market challenges or pursuing new opportunities, pivot capability provides essential flexibility for business adaptation and strategic repositioning. Pivoting strategically enables improved business positioning, enhanced market alignment, and competitive advantage through systematic business adaptation that supports long-term success whilst maintaining agility and responsiveness to market conditions.