October 20, 2020

COVID-19: An External Factor Forcing Companies To Change Radically and Pivot

Being innovative means to constantly question the status quo and embrace change in order to develop further. While the drive to do so often comes from within, it can also be an external change that forces a company to radically rethink their business.

One such external impulse certainly is COVID-19, as it is jumbling whole industries and is forcing their firms to react. To save their businesses, many companies adapted, modernized, and improved their business model or product strategy. But beyond that, some had to go even further and had to take the courage to pivot their whole business model.

Our colleagues at German Accelerator have looked deeper into the pivot, the most extreme change a business can make. Learn from different founders why they pivoted, how they communicated it, and how it turned out for their company.

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