For any company in any industry, it is highly important to set forth your business strategy and remain committed to it to achieve your best results. However, it is also important to be nimble, agile and have the ability to adapt your business strategy when the market or outside circumstances require it. One such instance – and one we are all still adjusting for – is the worldwide COVID-19 pandemic. Many companies had to think outside of the box to keep going while others were unable to adapt and had to shut down temporarily and, in some cases, permanently. However, not all instances that require a business to pivot strategy are global tragedies. They can be smaller things like a change in consumer habits, increased competition, new governmental mandates, etc. Often these issues can help businesses realize a shift in thinking or in business strategy could benefit their bottom line.
