Join some of SA's most innovative entrepreneurs who have turned crisis into opportunity – and how you can do the same. Picture: PEXELS.COM/ANNA SHVETSs 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. Various companies, from small start-ups to large organisations, have been forced to transform dramatically. Pivoting into new markets to stay relevant and viable ensures the time and money invested will not go to waste.
Ultimately innovation is vital to adapt to unexpected challenges, and in this difficult time of complexity and uncertainty, the need for innovation has never been greater. Those that have succeeded in pivoting their companies may find their businesses permanently transformed for the better., as we look at some of SA’s most innovative entrepreneurs who have turned crisis into opportunity — and how you can be inspired to do the same.
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