While the word “pivot” has joined the lexicon of phrases linked to Covid-19, it’s not a new concept. A vital part of business innovation for many years, some companies are forced to pivot defensively because their original model is failing, while others proactively pivot in response to opportunities as the business environment and consumer tastes evolve.

Pivots are typically high risk, however the potential benefits can significantly outweigh the risks. In the context of the Covid-19 crisis, it has become essential for many companies to not only shift their business models, but do so quickly, to survive. ..