A "pivot" refers to a significant change in strategy or direction, often used in business and entrepreneurship. It involves altering a product, service, or business model to better meet market demands or improve performance. This approach allows companies to adapt to new information or challenges, increasing their chances of success. In the context of startups, a pivot can occur when initial ideas do not yield the expected results. For example, a tech company might shift from developing a mobile app to focusing on a web-based platform. This flexibility is crucial for growth and sustainability in a competitive environment.