Critical Success Factors Benchmarks for Essential Actions to Achieve Purpose of Objectives

 In Benefit Venture Blog, Controlling, Tools

Critical Success Factors: Process: CSFs need to be worked on by founders/top team. It can be difficult to differentiate between this and the strategy planning process itself. Do not let that worry you, because the one depends upon the other and vice versa. It may even be that each leads you to modify the other. The net result should be that the organization is helped to fulfill its mission.

Critical Success Factors are typically determined for the whole operation through financial, marketing & sales, personnel functions, but can be for any function of the venture that is going to mean make or break—in your judgement. Some CSFs may external factors over which you have no control, like business climate, legislation, or environmental issues. Others may be external and where you have a role, such as the competitive situation within your sector, or new competitors or innovations that may disrupt.

The process will be messy and you should not be afraid to get feedback from others implicated, though not involved. You should make use of other tools, such as the Cause and Effect Diagram, Affinity Diagrams and SWOT, of example. Such activities may help you set a hierarchy of Critical Success Factors. The most critical of the critical success factors are the ones that should preoccupy you!

Basic Steps for Setting Critical Success Factors

critical success factors

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