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What are Critical Success Factors?Key areas of activity in which favorable results are necessary for a company to reach its goal.
There are four basic types of CSFs which are:
Industry CSFs
Strategy CSFs
Environmental CSFs
Temporal CSFs
A few CSFs are:
Money
Your future
Customer satisfaction
Quality
Product or service development
Intellectual capital
Strategic relationships
Employee attraction and retention
Sustainability
The advantages of identifying CSFs are:
-They are simple to understand;
-They help focus attention on major concerns;
-They are easy to communicate to coworkers;
-They are easy to monitor;
-They can be used in concert with strategic planning methodologies.
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