Which of the following are examples of critical success fact

Which of the following are examples of critical success factors? (Check all that apply)

1) increase customer satisfaction

2) number of new customers

3) number of new products

4) percentage of employee turnover

5) retain competitive advantages

6) hire and retain the best business professionals

Solution

Critical success factor (CSF) is a factor that is vital for the success of an organization.

Option 1 - increase customer satisfaction - is a CSF. It will help in increasing number of new customers or bringing in repeat customers.

Option 2 and 3 and 4 are not CSF, they are key perfromance indicators (KPIs). KPIs quantify certain objectives.

Option 5 and 6 are also CSF. Retaining competitive advantages will help the business achieve long term sustainability. Hring and retaining best talent is critical for the driving and implementing the business strategy.

Hence the answer is option 1, 5, 6.