Reference no: EM133200691
Opinions of this, and why, provide evidence and examples or personal experience! Can I get it as soon as possible thank you
(1) To ensure survival amid economic crisis, small businesses of all kinds are changing operating hours, revamping pricing structures, adding new payment methods, and more. Small businesses are also fundamentally changing their business models by adding new delivery channels, services, products, and even customers. In June, we surveyed 577 small business leaders to discover how companies are transforming their business models in response to changing customer behaviors brought on by the COVID-19 pandemic. A full 92% of respondents report pivoting (changing direction) in at least one way, while many have pivoted in multiple ways.
Choose one of this pivot and the options on that and why with some example
Pivot #1: Adopt a new online delivery channel
Pivot #2: Develop a new virtual service
Pivot #3: Design a new product
Pivot #4: Target new customers
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