To institutionalize change, managers should (1) turn students into teachers, (2) build financial capital, and (3) establish rules, guidelines and feedback mechanisms. Which statements are correct?

A) Statements 1 and 2
B) Statements 1 and 3
C) Statements 2 and 3
D) Only statement 1

Answer: D
Explanation: A) Incorrect. Statement 1 is correct. When students are turned into teachers, they develop a teachable point of view. They can articulate the vision in their own words and are transformed from students into visionaries. Statement 2 is incorrect. Managers should develop human capital, not financial capital. Statement 3 is incorrect. Managers should identify metrics, measures, and milestones (not rules or guidelines).
B) Incorrect. Statement 1 is correct. When students are turned into teachers, they develop a teachable point of view. They can articulate the vision in their own words and are transformed from students into visionaries. Statement 2 is incorrect. Managers should develop human capital, not financial capital. Statement 3 is incorrect. Managers should identify metrics, measures, and milestones (not rules or guidelines).
C) Incorrect. Statement 1 is correct. When students are turned into teachers, they develop a teachable point of view. They can articulate the vision in their own words and are transformed from students into visionaries. Statement 2 is incorrect. Managers should develop human capital, not financial capital. Statement 3 is incorrect. Managers should identify metrics, measures, and milestones (not rules or guidelines).
D) Correct. Statement 1 is correct. When students are turned into teachers, they develop a teachable point of view. They can articulate the vision in their own words and are transformed from students into visionaries. Statement 2 is incorrect. Managers should develop human capital, not financial capital. Statement 3 is incorrect. Managers should identify metrics, measures, and milestones (not rules or guidelines).