QS Study

Key success factors (KSF) in an Industry

Key success factors (KSF) are the combination of important facts that are required in order to accomplish one or more desirable business goals. Combining foremost facts that are essential to achieving certain business goals is called key success factors. For example, one of the key success factors in promoting animal food products might be to advertise than in a way that appeals to those consumers who love animals.

Key success factors in an Industry can be followings:

(1) Technology-related KSFs:

  • Scientific research expertise;
  • Technical capability;
  • Product innovation capability;
  • Capability to use internet and e-commerce.

(2) Distribution-related KSFs:

  • Strong distribution network;
  • Company-owned retail outlets;
  • Low distribution costs;
  • Accurate filing of customers’ orders;
  • Short delivery times.

(3) Marketing-related KSFs:

  • Fast, accurate technical assistance;
  • Courteous customer service;
  • Attractive packaging;
  • Clear advertising;
  • Guarantees and warranties.

(4) Skills-related KSFs:

  • Superior workforce talent;
  • Design expertise;
  • Expertise in a particular technology;
  • Ability to develop innovative products.

(5) Organizational capability-related KSFs:

  • Superior information system;
  • Ability to respond quickly to shifting market conditions;
  • Ability to internet and e-commerce;
  • Managerial experience.

(6) Others KSFs:

  • Favorable image or reputation;
  • Overall low cost;
  • Convenient locations;
  • Pleasant, courteous employees.

So, these are the various key factors for competitive success in a Telecommunication Industry.