Question

What is critical success factor in strategic management?

Answer 1

Critical Success Factors (CSF’s) are the critical factors or activities required for ensuring the success your business. The term was initially used in the world of data analysis, and business analysis.Most smaller and more pragmatic businesses can still use CSF’s but we need to take a different, more pragmatic approach. Critical Success Factors have been used significantly to present or identify a few key factors that organizations should focus on to be successful. As a definition, critical success factors refer to “the limited number of areas in which satisfactory results will ensure successful competitive performance for the individual, department, or organization”.

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