A fundamental change in business direction while leveraging existing assets, capabilities, or market position. Often involves shifting target markets, business models, or product focus based on new insights or market conditions.
'Pivot' from French 'pivot' (turning point) and 'strategy' from Greek 'strategia' (generalship). The business sense popularized by startup methodology in the 2000s, particularly through lean startup practices.
The word 'pivot' has become so overused that it often masks what's really happening - complete failure and starting over. True pivots maintain some core element while changing direction, like a basketball player keeping one foot planted.
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