Critical Success Factor Analysis


Critical Success Factor Analysis: How to Reach Success?

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First and foremost, let’s find out what factors are called critical success factors! The notion “critical success factor” or CSF denotes an element (some action, condition or a type of conduct) that is necessary for a company or an organization to reach success. You should know that there are 4 types of critical success factors. They are:

  • Industry CSF’s that result from industrial characteristics of a subject (an organization or a company);
  • Environmental CSF’s resulting from the outside world (economic, political or technological changes);
  • Temporal CSF’s resulting from different circumstances within the subject;
  • Strategy CSF’s that result from the strategy chosen by the subject.

What is the purpose of making critical success factor analysis?

Actually, critical success factor analysisis necessary to be made when some new actions are planned. It may be launching of a new program, project or something else. It goes without saying that the main aim of any action that is planned is to reach success. If a company or an organization reaches success in new business it reaches all aims stated.

What should you do before making your critical success factor analysis?

Critical success factor analysisis a complex work. That means that you cannot consider critical success factors as separate phenomena. You should study them in the context of the given case.

When speaking about a case we mean that there is a subject (for example, a company) that is planning to do some actions (to launch a new product, for instance) and is interested in what circumstances are necessary for it to reach success.

Thus, when making critical success factor analysis, first and foremost, you should study a subject and an action that is planned and find out on the basis of the obtained results what critical success factors are vital in this case.

Why should you study a subject? You should know its strengths and weaknesses, its previous experience in the sphere (if there is some) in order to find out in what way strong qualities may be used and disadvantages may be compensated. Thus, you may define what factors are necessary for this subject to reach success.

Why should you study an action? You should know what challenges it suggests and what behavioral patterns it will require.

When you analyze all this information, you may start making your critical success factor analysis:

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