Pivot. Pivot. Pivot. Ask about strategic change, and it’s a safe bet that any group of technology executives will turn into a chorus of entrepreneurial frogs. But just because the word “pivot” is at the tip of every tech founder’s tongue–and almost all will agree it’s an overused term–doesn’t mean there’s any consensus on what it means.
It’s an admission of failure. It’s a glory badge. It should be done all the time. It’s a sign of desperation. You lose key members of the team. Your team is reenergized.
Few will dispute that sometimes it’s just what’s needed to resuscitate a dying company or startup.
In the final video in Fast Company’s Pivot series we look back on almost 20 companies’ successful turnarounds, including Intel, Instagram, and Zappos, and how they view the strategic shifts that led to their success.