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Many businesses have adopted programs that help the company to achieve growth and success. Critical success factors related to quality, money, customer satisfaction, and your overall strategic plan.
A good way to develop a strategic plan is to ask your customers questions. Start with asking them about the company, the products, and their level of satisfaction. The answers you obtain can help you determine the critical success factors. The critical success factors should be written in a way that is easy to understand and can be measured and tracked continuously.
Good management, cooperative staff, planned strategy
nice answer by khatim abbas,, i will go with him.
Retaining Customers
In any industry, a company is successful if it can retain its key customers. A proactive and aggressive company does not become complacent after getting the big contract; it works to keep it. Develop new ideas based on the needs of your larger clients to keep them interested in doing business with your company. If your company cannot retain its top clients from year to year, staying successful will become increasingly difficult.
Product Development
Whether you sell a tangible product or a service, if you do not keep up with the changes in your marketplace as dictated by your customers, you cannot survive. Being first to market and staying ahead of the competition is always ideal in trying to maintain your market share, but it is not always achievable. At minimum, you need to make sure you are keeping up with the demands of your industry and are consistently recognized as a company that stays on top of product changes.
Cash Management
In any industry, with any company, one of the main keys to success is managing your cash flow properly. Maintain open lines of communication to potential investors and lenders at all times. That way, when you need financing quickly, you have options. The ability to manage your business so you have cash on hand can also help you get financing. When lenders see that you are able to balance your books and maintain a profit, they are more likely to approve your financing. Cash on hand is also important for those times when you cannot get approved for financing but need operating capital right away. Learn to manage your cash to help your company survive and prosper.
Product & product branding, employees, equality & customers' advice are behind critical success factor of any organization.
You can define your success factors, metrics or Key Performance Indicators based on a big number of factors (or a select group of performance aspects) that “can be found” in your company profile, mission, vision, objectives, strategy etc. , whether short-term ones, long-term ones or ones that go a business life time.
it will be with good management and manager as well
Now a days where various modern tools and techniques are available to derive on Critical factors of growth either from internal team or external agencies but true success is bound to one simple logic.
Few logical and scientific thinkers with market experience are needed to derive strategy and more number doers with absolute clarity to execute the strategy at different levels of hierarchy.
Good Day.......
Mr. Khatim says all that i want to answer........... he is such a professional......
Critical success factors can be found through various techniques like Key Performance Indicators (KPI), Close End Survey and Questioners, Interviews, Lesson Learned etc. The foremost critical factors are evaluating company goals, aim and Voice of customers (VOC) etc.
