What pivot is: Touching an elephant in the dark

The term ‘pivot’ first appeared in the practical literature, demonstrating its role in the Lean Startup, and immediately emerged in the academic literature. However, it suffered from conflicting perceptions and practice-academy divide. Moreover, recently, a growing number of scholars introduced it as a response to the pandemic crisis, at times as an umbrella term. In this study, we first test the concept ‘pivot’ against clarity criteria and find its problematic issues based on a qualitative content analysis of the literature; then, using a multi-case study, we get a critical distance from the pivot's origin; parsimoniously reposition it as ‘substitution’, differentiate it from ‘pivoting’ as its process theory; and discuss it in relation to vision, strategy, and business model. Finally, we propose a conceptual basis and some rules for operationalization.