Study of entrepreneurial pivots

Abstract

A business pivots when it makes a substantial change to one or more of its business components such as altering one of its primary goods or services, revamping the cost structure etc. Businesses may create a pivot to fulfil customer demand better, change their target market to increase sales, or combine the two. Additionally, it's typically done as a long-term strategy as opposed to changes made for only a short period, such as those made during shutdowns linked to COVID-19. A company doesn't always need to pivot. Others consider it to be crucial.