The "pivot to try to save the business" usually doesn't work.
Where pivots work is something like Amazon and AWS where internally Amazon already did IT at a large scale incredibly cheaply, so they figured out how to sell it.
They didn't do that though because retail was collapsing, they just saw another opportunity.
It's a bit like evolution, where species don't adapt to a new environment because their old one is killing them (in this case they just die out), they adapt because the new environment offers them a more advantageous lifestyle, and those members closer to it prosper and supplant the old guard.
Large corporations are similar, both in that they don't respond like deliberate individuals anymore but rather a reactive swarm, and in that they typically only pivot successfully from a position of strength/opportunity ... when facing adversity they more often fail in their pivot and die (usually get acquired).
Comments
The "pivot to try to save the business" usually doesn't work.
Where pivots work is something like Amazon and AWS where internally Amazon already did IT at a large scale incredibly cheaply, so they figured out how to sell it.
They didn't do that though because retail was collapsing, they just saw another opportunity.
It's a bit like evolution, where species don't adapt to a new environment because their old one is killing them (in this case they just die out), they adapt because the new environment offers them a more advantageous lifestyle, and those members closer to it prosper and supplant the old guard.
Large corporations are similar, both in that they don't respond like deliberate individuals anymore but rather a reactive swarm, and in that they typically only pivot successfully from a position of strength/opportunity ... when facing adversity they more often fail in their pivot and die (usually get acquired).