What pivot is: Touching an elephant in the dark

Sadeghiani, Ayoob; Anderson, Alistair R.

doi:10.1016/j.digbus.2023.100056

Cited by 2 publications

(1 citation statement)

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“…Startups must be brave enough to act decisively when they recognize the need for radical change. The Lean Startup methodology has been described as uncertainty reduction through validated learning (Sadeghiani & Anderson, 2023), which means that startups should validate their assumptions before making any significant changes. Based on a research journal conducted by Bajwa 2017 in India, it shows the types of pivots experienced by startups.…”

Section: Introductionmentioning

confidence: 99%

Exploring the Factors that Influence Pivoting in Student Startups: A Case Study of Entrepreneurship Student of SBM ITB Analysis

Ariella

2023

SLJIL

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According to recent news sources and journals, the growth of start-ups in today's world is on the rise. The pandemic has played a significant role in this growth, with many people starting their own businesses after being laid off from their jobs (Casselman, 2021). In 2023, experts predict that there will be increased investment in social media, user-generated content, and entertainment for small businesses (Halperin, 2023). Alternative funding sources are also becoming more common for small businesses as interest rates rise (Halperin, 2023). The design acts as the research project's "blueprint," connecting the design, data collecting, and analytic activities to the research questions and guaranteeing that the entire study agenda will be covered. Based on the tentative coding analysis that has been done above to answer the question "what encourages you to pivot?", that have been analyzed into selective coding, it can be seen that their reason is because their own ability to build a business is still not that enhanced. This conclusion could be argued because there are severals variable that are supporting the conclusion. For example the informant said that the lack of proper planning, difficult process to execute, and the customer is not interested in the idea offered are the reason that prompting the pivoting phenomenon. Based on the results of the research conducted, it can be seen that as many as 17 out of 20 student startups in the SBM ITB entrepreneurship department experienced pivoting. The majority of these student startups experience pivoting in their business model and business ideas, where the pivoting they experience is included in the types of pivoting discussed in the previous chapter such as technology, customer need, customer segment, channel, complete, and side project types.

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Section: Introductionmentioning

confidence: 99%

Exploring the Factors that Influence Pivoting in Student Startups: A Case Study of Entrepreneurship Student of SBM ITB Analysis

Ariella

2023

SLJIL

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Entrepreneurs' use of imagination in pivot decision: Toward a conceptual model

Gabay‐Mariani,

Flechas,

Blank

2024

Strategic Change

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The purpose of the paper is to open the black box of pivot decisions and to deepen our understanding of how entrepreneurs use their imagination in such a crucial moment of the entrepreneurial process. A pivot is a strategic decision made after a failure and challenges central assumptions about the entrepreneurial project. In turn, entrepreneurs can remain quite conservative in the generation of new options for their business and expose themselves to the risks of path dependency and escalation of commitment. Reconfiguring an initial idea requires specific cognitive skills and mechanisms. In this paper, we sketch a conceptual model explaining the relationships between creative, social, and practical imaginativeness and the generation of new business options, and how founders' cognitive mechanisms may moderate this relationship.

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What pivot is: Touching an elephant in the dark

Cited by 2 publications

References 61 publications

Exploring the Factors that Influence Pivoting in Student Startups: A Case Study of Entrepreneurship Student of SBM ITB Analysis

Exploring the Factors that Influence Pivoting in Student Startups: A Case Study of Entrepreneurship Student of SBM ITB Analysis

Entrepreneurs' use of imagination in pivot decision: Toward a conceptual model

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