Analyzing key success factors leads one to ask the following two questions:
A)What do customers want which we could supply and what should the firm do to survive competition?
B)What do customers want and what type of operational changes should a firm implement to survive competition?
C)Which of the five forces of competition are critical for a firm's survival and how could the firm deal with them?
D)What should managers do to analyse information collected from the market and the firm's operational units?

Question

Quizplus · Accepted Answer

Key success factors are the factors that determine a company's ability to compete effectively in the marketplace. These factors include understanding and meeting customer needs and surviving competition. Therefore, the first question of what customers want and how the firm can supply their needs is critical to success. The second question of how to survive competition can also be answered by understanding customer needs and adapting accordingly.

Analyzing Key Success Factors Leads One to Ask the Following