Alignment, Action, and Adaptation approach to strategy.
What is Pivoting?
Why is this the case? Do businesses not realize the importance of strategy? Do businesses not know how to develop a strategy? Is it just human nature to avoid recognizing the worst case scenario?
the failure to strategically plan leaves businesses in damage control when the unthinkable happens.
The issue of businesses failing to pivot strategy generally stems from a poorly developed or nonexistent strategic plan.
pivoting is not an easy task even for strategically aligned businesses.
pivoting means to change direction to a new strategy
businesses should exhaust all other avenues prior to making the decision to pivot strategy.
There are a number of components that are required to quickly and effectively adapt and pivot strategy of a business.
in the words of HG Wells “Adapt or perish, now as ever, is nature's inexorable imperative.”
it is understood that strategically pivoting a business is a hard decision to make and act upon.
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