MBATricks

Tips and Tricks about my MBA experience

Critical Success Factor

Elements that should be considered to achieve a mission.

 

The elements that should be considered are the following:

  • Money: Positive cash flow, revenue growth, and profit margins.
  • Your future: Acquiring new customers and/or distributors.
  • Customer satisfaction: How happy are they?
  • Quality: How good is your product and service?
  • Product or service development: What’s new that will increase business with existing customers and attract new ones?
  • Intellectual capital: Increasing what you know that’s profitable.
  • Strategic relationships: New sources of business, products and outside revenue.
  • Employee attraction and retention: Your ability to do extend your reach.
  • Sustainability: Your personal ability to keep it all going.
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    Some of the following aspects of the management should be taken into account:

  • Product design
  • Market segmentation
  • Distribution and promotion
  • Pricing
  • Financing
  • Securing of key personnel
  • Research and development
  • Production
  • Servicing
  • Maintenance of quality/value
  • Securing key suppliers
  •  

    Source: http://en.wikipedia.org/wiki/Critical_success_factor

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