MANAGEMENT

Critical Success Factors

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Contents

Introduction3

Discussion4

Organizational Factors4

Communication and Integration Strategy4

Learning Organization5

Culture of creativity and Innovation6

Technological Factors7

Managerial factors9

Divine Business Leadership9

Managers Develop Continuous Improvement9

Decision - Future Direction & Business Expansion10

References12

Critical Success Factors

Introduction

Critical Success Factors are referred to as the most significant areas of the company where the focus should be to obtain satisfactory results in the context of the entire organization, business units or departments. The critical success factor defines the strategic direction of the company and determines what is essential to its performance in the future. CSF selection should be made after outlining a strategic vision and aspirations of the company. Meaning determine CSF relates directly to the performance measurement results in key areas, so sometimes also called the CSF are key areas of performance. Each of the CSF should be measurable and associated with a specific aim in the long term (1-3 years). CSF is not something permanent - are dynamic and may change over time as requirements change environment of the company, its strategy and development needs(Campbell, 1998.

Determination of CSF forces in some way the organization to focus its efforts and resources on the critical areas of activity, which is equivalent to the fact that non-fulfillment of the achievements in these areas could cause a company to fail or.CSF may include fragments or entire processes of the organization, can address areas that show the financial condition as well as those related to employee satisfaction and customer satisfaction(Chaney, 1995).

What is Success for the companies?

Professionals will only achieve success if they know exactly what is expected of them.. Steve Hawthorne says it is essential to know what the goals of a project. "It is common for n organizational professionals to define success as the junction of goals needs and budget met.Success is for the longer period and it leads to earning of greater market share(Altman, 1984).

Discussion

The organization success factors can be divided into:

Organizational

Technological

Managerial Factors.

Organizational Factors

There are a number of factors which influences an organization towards its goals and success. The achievement of goals is not easy for Zara because they are in competition with the other market brands.

The main aim the company is to create value to the customer. Organization is a combination of people, culture, values, vision and mission. The most important thing in an organization which aligns all other factors is its culture and values. Most of the organizations mark culture and values as their success factors. For example: Zara has identified their culture and values and communicate them among the whole organization (Garvin, 1985). Some of the organizational Success factors are as follows:

Communication and Integration Strategy

It is necessary for an organization to design the strategy which attracts people towards products otherwise other companies can take the market share of the company. In order to be successful in the business world a company needs to be strong internally for example: they strengthen communication and integration strategy. Communication is a key factor for the image that your company has in the market. It is critical to have a ...