Hindsight is a gift. Let’s unpack a few bold decisions made by companies to either completely re-invent or shift their business model.
Business Models are always subject to change, but as start-up culture has risen to prominence and the lingo entered the business world, one term has been particularly popular: The Pivot.
Pivoting means to shift an essential part of your business strategy — either in regard to a product or the business model. This often includes drastically changing parts of the company.
For an established player to pivot is a very different thing compared to a startup still trying to find a working model, perhaps even the actual product. For most start-ups, pivoting is part of the process.
For our purposes, we’ll think of Pivots in a broader sense. In order to do so, we want to look at examples from start-ups and larger companies to see what business …