Strategic Management (Jan 2015)
Integration of critical success factors in order to improve performance of the company
Abstract
The paper is motivated by the practical and always current problem of achieving planned and improving existing enterprise performance. Research suggests that management rarely understands what is it that contributes to the creation and strengthening of the value of the company, its competitiveness and, consequently, achieving success. In a turbulent and unstable business environment, managers cannot afford the luxury of not understanding, and, ultimately, not knowing the competence of enterprise. Key activities that contribute to the success of enterprise are critical success factors (CSFs). Components of the strategy that the company must stand out in order to surpass the competition are these activities. These activities ensure the realization of high company performance. The focus of this paper is to identify an integrated set of critical success factors, with adequate quantification, using key performance indicators, which contributes to the improvement of organizational performance. With the intention of determining the factors that will stand the company in relation to the competition, it is necessary to consider the influence of internal and external environment. The paper will also display impacts that management must pay attention to during the definition of an integrated set of critical success factors. Contribution of the paper lies in the analysis of the issues that are crucial to the success of companies, and in establishing a set of critical success factors that determinable affect to the achievement of company performance.
