JAR­GON WATCH Pivot has piv­oted in mean­ing

“As­set man­agers are all too happy to pivot to a cheaper al­ter­na­tive.” (Bloomberg, June 15, 2017)

BC Business Magazine - - Contents -

Tra­di­tion­ally, pivot means to change di­rec­tion around a fixed point—who can for­get the Friends episode in which Ross ex­horts the oth­ers to “Pivot!” as they wres­tle a sofa around a cor­ner in a stair­well–or, in bas­ket­ball, to swivel on one foot. In busi­ness it has come to sim­ply mean change di­rec­tion. U.S. en­tre­pre­neur Eric Ries, who pop­u­lar­ized that us­age in his 2011 book The Lean Startup, de­fines pivot as a “struc­tured course cor­rec­tion de­signed to test a new fun­da­men­tal hy­poth­e­sis about the prod­uct, strat­egy, and en­gine of growth.” In a July 2012 tweet, Ries ex­plained, “A pivot is a change in strat­egy with­out a change in vi­sion. You can­not have a pivot with­out vi­sion (that's just wan­der­ing around).”

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