After Your Financial Plan Is Developed It Should Be

question 67

Multiple Choice

After your financial plan is developed it should be

• A) locked in a safe for keeping so it isn't stolen.
• B) reviewed every five years.
• C) monitored and updated annually.
• D) sold to others.

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Definitions:

Flexibility

The quality of bending easily without breaking, often used metaphorically to describe adapting to change or new situations without stress.

Lewin's Approach

A method proposed by Kurt Lewin emphasizing the importance of understanding dynamics within a group and between groups to change behaviors or processes.

Unfreezing

The initial stage of change in which individuals or organizations become aware of the need for change, overcoming inertia and dismantling existing mindsets.

Refreezing

The stage in Lewin's change model where new behaviors are solidified into the organization's culture after a change has occurred.