M1A3: Calculating Inventory

Page 1 of 1 Managerial Accounting

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Kotter’s Eight-Step Change Model

Kotter’s Eight-Step Change Model is the most simple and commonly used way to form a strategic plan. The eight steps of this process are described as follows:

1) Identify a need by looking within the organization and determining what needs to be changed.

2) Assemble a team to lead and manage the change by identifying people within the organization who are best suited to improve the running of the company.

3) Develop a change vision and strategy for achieving it by finding out the best way to implement the changes within the company.

4) Communicate the vision and strategy for change by making the members of the change team role models and by making all employees aware of the company’s new vision.

5) Encourage innovation and remove obstacles by always being open to change and not focusing on the past.

6) Ensure short-term achievements are frequent and obvious.

7) Use successes to create opportunities for improvement in the entire organization.

8) Reinforce a culture of change by promoting more improvement, better leadership, and more effective management.

Reference

Kotter, J. P. (1996) Leading change. New York, NY: Harvard Business Review Press.