Full Steam Ahead or Abandon Ship? An Empirical Investigation of Complete Pivot Decisions
通过联合分析实验，研究了新产品或服务与客户偏好不匹配时，影响企业做出完全转型决策的因素，包括收入差距、资金储备和归因等。
New products or services often misalign with customer preferences, and sometimes these initial offerings must be abandoned and replaced. Factors influencing these “complete pivot” decisions are poorly understood. We use behavioral decision theory to develop a theoretical model of pivot decisions that tests our predictions via a conjoint analysis experiment. We find that magnitude of the miss (revenues compared to plan), length of the runway (cash available/burn rate), and attribution for the miss (reason for customer misreads) significantly influence complete pivot decisions, and we simultaneously consider interactions. Individual grit and impulsiveness also shape the effects of some attributes.