To succeed, a new company must rally investors, staff, customers, and the media around a good story. But often that narrative turns out to be wrong, and entrepreneurs realize they need to change direction. How that shift is communicated can have a huge impact on a venture's future. Through extensive research with founders, innovation chiefs, analysts, and journalists, the authors have identified stratagems for maintaining stakeholder support during pivots. Early on, entrepreneurs should avoid a focus on overly specific solutions and instead present the big picture. When changing course, they can then signal continuity by explaining how the new plan fits with the original vision. Once the reboot has happened, it's critical to be conciliatory and empathetic to stakeholders who may feel abandoned. Employees and customers are far more willing to remain loyal if given guidance about how they'll be affected and if leaders seem to genuinely care about their situation.

Dicore, the third largest supplier of drilling services in the world, must increase its profitability. To do so, the executive committee is considering an expansion into the southwestern United States. The senior vice-president and general manager must create a plan that outlines whether or not Dicore should enter the southwest drilling market and, if so, if it should enter this market organically or through an acquisition.

Dicore, the third largest supplier of drilling services in the world, must increase its profitability. To do so, the executive committee is considering an expansion into the southwestern United States. The senior vice-president and general manager must create a plan that outlines whether or not Dicore should enter the southwest drilling market and, if so, if it should enter this market organically or through an acquisition.

The CEO of a newly formed corporation had just finalized several outsourcing agreements to manufacture MoxiMed’s flagship product, the MoxaLamp. The MoxaLamp was designed to replace the practitioner’s role in administering moxibustion, a popular form of traditional Chinese medicine therapy. Now that the MoxaLamp was ready for production, the CEO must select a target market and set the appropriate selling price.

The CEO of a newly formed corporation had just finalized several outsourcing agreements to manufacture MoxiMed's flagship product, the MoxaLamp. The MoxaLamp was designed to replace the practitioner's role in administering moxibustion, a popular form of traditional Chinese medicine therapy. Now that the MoxaLamp was ready for production, the CEO must select a target market and set the appropriate selling price.

The chief financial officer (CFO) and major shareholder of a small charter sport fishing company must prepare the company books for the fiscal year according to international financial reporting standards (IFRS) rules. The CFO must deal with both finance and operating leases.

The chief financial officer (CFO) and major shareholder of a small charter sport fishing company must prepare the company books for the fiscal year according to international financial reporting standards (IFRS) rules. The CFO must deal with both finance and operating leases.

Northern Drilling Inc., an exploration diamond-drilling contractor, has been asked to tender a bid for a lucrative, highly complex contract with Mond Nickel. Northern has no drills or crew currently available to work on the contract, which requires experienced drillers. Compounding the issue is a shortage of skilled labour in the industry. At the same time, Northern's biggest client, Noranda Nickel, is seeing poor geological results on a job in the same area. Northern's management needs to decide whether to incur additional costs and leave a capacity cushion in an effort to maintain its excellent relationship with its current client, or whether it should instead utilize the drills on the new job. The primary issue facing Northern's management is whether Northern can handle the new contract, both financially and technically, without compromising the current job.

Northern Drilling Inc., an exploration diamond-drilling contractor, has been asked to tender a bid for a lucrative, highly complex contract with Mond Nickel. Northern has no drills or crew currently available to work on the contract, which requires experienced drillers. Compounding the issue is a shortage of skilled labour in the industry. At the same time, Northern's biggest client, Noranda Nickel, is seeing poor geological results on a job in the same area. Northern's management needs to decide whether to incur additional costs and leave a capacity cushion in an effort to maintain its excellent relationship with its current client, or whether it should instead utilize the drills on the new job. The primary issue facing Northern's management is whether Northern can handle the new contract, both financially and technically, without compromising the current job.