“Pivoting” has become a watchword for the UK’s private sector in 2020. As the coronavirus pandemic took hold in the early months of the year, companies were forced to adapt their products, services and business models. It is a challenge that many are still grappling with at present.
Since March, offices have been closed and the majority of the population have been far more confined to their own homes, resulting in significant disruption to business and consumer behaviour. And, while lockdown measures were eased during the summer months, a second spike in COVID-19 cases has resulted in stricter social distancing measures coming into force in recent weeks. These measures are, the Government says, likely to remain in place until March 2021, with tougher local lockdowns now a possibility across the country.
For businesses of all sizes and sectors, the challenges presented by the pandemic have been innumerable. Focusing on the tech sector, cashflow disruption (1) and sudden spikes in demand (2) have been among the most prevalent issues. Pivoting is another that cannot be overlooked: how to effectively reshape a tech company and its offering to a new climate....