Pivoting

Pivoting refers to a significant shift or change in strategy, direction, or focus. It's the act of adapting to new information, market conditions, or unforeseen circumstances, often involving a complete or substantial modification of an existing plan. It can apply to various fields, including business, technology, sports, and even personal life. This adaptation usually involves a strategic redirection, taking advantage of new opportunities or mitigating emerging risks. pivoting signifies a crucial decision to embrace transformation and move towards a revised or alternative goal.

Pivoting meaning with examples

• The startup, initially focused on social media for pet owners, decided to **pivot** after realizing a stronger market for AI-powered pet health diagnostics. This involved reallocating resources, developing new technologies, and restructuring their team. Their early investment in a platform helped them identify a need they could more effectively serve, leading to the company's future.
• Faced with declining sales of its flagship product, the clothing company decided to **pivot** its marketing strategy, shifting from traditional advertising to influencer collaborations and social media campaigns. This approach, aimed at reaching a younger demographic, involved creating new content and working to build the brand's online presence by emphasizing ethical sourcing.
• After a series of disappointing losses, the basketball team chose to **pivot** its offensive strategy, emphasizing ball movement and three-point shooting, rather than relying on isolation plays. This forced them to reevaluate their training and team composition, finding a higher scoring way to achieve success, requiring adjustments from the team's main players.
• The company's response to the supply chain disruption required it to **pivot** its sourcing strategy, turning to local suppliers instead of relying on overseas manufacturers. This decision necessitated establishing new partnerships and potentially increasing production costs to accommodate the new supplier base, changing the way products were produced.
• When a recession hit, the restaurant chain was forced to **pivot** its menu, offering more affordable meal options and introducing takeout and delivery services. This required them to alter ingredient purchasing and staffing, making the brand more affordable, while maintaining their quality standards. A decision necessary for the survival of their brand.