Which of the Following Is the First Step in Kotter's

question 65

Multiple Choice

Which of the following is the first step in Kotter's eight-step plan for implementing change?

• A) Create a new vision to direct the change and strategies for achieving the vision.
• B) Establish a sense of urgency by creating a compelling reason for why change is needed.
• C) Plan for, create, and reward short-term "wins" that move the organization toward the new vision.
• D) Form a coalition with enough power to lead the change.
• E) Communicate the vision throughout the organization.

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Definitions:

Economic Entity Assumption

An assumption that requires that the activities of the entity be kept separate and distinct from the activities of its owner and all other economic entities.

Economic Events

Activities or occurrences that have a significant financial impact on the businesses or the economy as a whole.

Unit of Accountability

A fundamental concept in accounting and finance, referring to the smallest measurable amount for which financial activities or transactions are recorded and reported.

Insurance Expense

The cost incurred by a business to insure its assets, operations, or liabilities over a certain period.