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

question 86

Multiple Choice

Which of the following is the first step in the 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:

Joint Profits

Are the combined earnings of two or more entities, often used to evaluate the financial outcome of a partnership or merger.

Marginal Cost

The cost added by producing one additional unit of a product or service, a crucial concept in economic decision-making and pricing strategies.

Perfectly Competitive

A market structure where many firms offer a homogeneous product, there are no barriers to entry or exit, and all firms are price takers.

Oligopolistic

Oligopolistic refers to a market structure characterized by a small number of large firms dominating the market, leading to limited competition.