When Trying to Change a Problem Culture, Management Should Undertake

question 92

Multiple Choice

When trying to change a problem culture, management should undertake such steps as

• A)selecting a team of key employees to lead the culture change effort and design a plan for cultural change.
• B)identifying facets of the present culture that are supportive of good strategy execution and which ones are not and then specifying what new actions, behaviors, and work practices are needed in the new culture to improve performance.
• C)drawing up an action plan to change the present culture and then persuading company personnel why this plan of action is good and will be successful.
• D)conducting an employee survey to determine the organization's cultural norms and what company personnel like and dislike about the current culture.
• E)employing a consultant with expertise in culture change and following his or her advice on how to proceed.

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Definitions:

Books Closed

A term referring to the point at which an accounting period is concluded and all financial statements are finalized.

Payday

The day on which an employee receives their salary or wages, typically occurring on a regular basis.

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The total net value owned by shareholders, calculated as total assets minus total liabilities.

Traditional Balance Sheet

A financial statement that provides a snapshot of a company's financial condition at a specific point in time, detailing assets, liabilities, and shareholders' equity.