Critical Success Factors are critical!
Critical success factors are aspects we must be competent at doing or concentrate on achieving in order to be competitively and financially successful.
Critical Success Factors are driving force variables that are defined as those internal or external factors that have the executive attention, significant influence, and pronounced effect upon the enterprise all of which that spell the difference between profit and loss.
The starting point for thinking about Critical Success Factors is the mission.
There are usually five to six CSF’s for a specific mission. Any more than that and they become “nice-to-have” aspects.
The CSF’s are just that – critical success factors – mission critical!
Misdiagnosing CSF’s greatly raises the risk of misdirected strategy – one that over-emphasizes less important aspects and under-emphasizes more important competitive capabilities.
In this section you will learn how to write the right CSFs for your business and ensure you end up with the right focus you need.