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    Critical Success Factors

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    Hassan Khan
    The concept of critical success factors (CSFs) was first developed by management consultant D. Ronald Daniel in his article "Management Information Crisis" to identify areas that should receive constant attention from management. John F. Rockart later popularized the concept and defined CSFs as areas of activity important to an organization's success. There are four main types of CSFs: 1) industry factors related to competitiveness, 2) environmental factors like economic conditions, 3) strategic factors depending on a company's strategy, and 4) temporal factors related to internal changes. Managers can identify and develop their own CSFs through five steps - researching strategy, identifying objectives and CSFs, evaluating and prioritizing CSFs, communicating to stakeholders,

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    Critical Success Factors

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    Hassan Khan
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    The concept of critical success factors (CSFs) was first developed by management consultant D. Ronald Daniel in his article "Management Information Crisis" to identify areas that should receive constant attention from management. John F. Rockart later popularized the concept and defined CSFs as areas of activity important to an organization's success. There are four main types of CSFs: 1) industry factors related to competitiveness, 2) environmental factors like economic conditions, 3) strategic factors depending on a company's strategy, and 4) temporal factors related to internal changes. Managers can identify and develop their own CSFs through five steps - researching strategy, identifying objectives and CSFs, evaluating and prioritizing CSFs, communicating to stakeholders,

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    The concept of critical success factors (CSFs) was first developed by management consultant D. Ronald Daniel in his article "Management Information Crisis" to identify areas that should receive constant attention from management. John F. Rockart later popularized the concept and defined CSFs as areas of activity important to an organization's success. There are four main types of CSFs: 1) industry factors related to competitiveness, 2) environmental factors like economic conditions, 3) strategic factors depending on a company's strategy, and 4) temporal factors related to internal changes. Managers can identify and develop their own CSFs through five steps - researching strategy, identifying objectives and CSFs, evaluating and prioritizing CSFs, communicating to stakeholders,

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    14 views2 pages

    Critical Success Factors

    Uploaded by

    Hassan Khan
    The concept of critical success factors (CSFs) was first developed by management consultant D. Ronald Daniel in his article "Management Information Crisis" to identify areas that should receive constant attention from management. John F. Rockart later popularized the concept and defined CSFs as areas of activity important to an organization's success. There are four main types of CSFs: 1) industry factors related to competitiveness, 2) environmental factors like economic conditions, 3) strategic factors depending on a company's strategy, and 4) temporal factors related to internal changes. Managers can identify and develop their own CSFs through five steps - researching strategy, identifying objectives and CSFs, evaluating and prioritizing CSFs, communicating to stakeholders,

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    Critical Success Factors

    The concept of CSFs (also known as Key Results Areas or KRAs) was first
    developed by management consultant

    D. Ronald Daniel, in his article,

    "Management Information Crisis."

    Other author

    John F. Rockart, of MIT's Sloan School of Management, built on and popularized


    the concept almost two decades later, he said that

    "areas of activity that should receive constant and careful attention from
    management."

    The Four Main Types of Critical Success Factors


    1- Industry Factors
    Those factors which are must part of actions to remain competitive.
    i.e Business School collaborate with businesses to give opportunities to students and practical
    exposure too.

    2- Environmental Factors

    Macro-environmental influences on your organization

    These can be Business Climate,

    The economy where you operate

    Technological Advancements

    For this PEST analysis will remain a best choice

    3- Strategic factors

    Depends upon the competitive strategy of your business


    Like it can be low volume with high price or high volume with low price

    4- Temporal factors

    These factors are temporary internal changes like growth attracts sales and
    obviously higher profits.
    Five Steps to Identify and Develop Your CSFs

    1- Research Your Mission, Values and Strategy

    2- Identify Your Strategic Objectives and Candidate CSFs

    3-  Evaluate and Prioritize Your CSFs

    4- Communicate Your CSFs to Key Stakeholders

    5- Monitor and Measure Your Progress


    https://www.mindtools.com/atlntup/critical-success-factors

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