Identify factors that help your company

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Identify factors that help your company

By examining the management structure of successful companies in your industry, you can reliably choose strategic tactics that can work for your business as well. The key success factors you choose to track for your business help you build your competitive strategy.

Obtain and use the templates provided by resources, such as the SCORE website, to generate your business plans, including a competitive analysis. Access information provided by the Census. Your business plan should include a description of the industry, the current size, the historic growth rate, typical customers and the general outlook, such as projected growth rate.

Identify your main customers and their requirements. Use resources available from market research firms such as Gale Research, Gartner Research and Forrester Research to get further insight into your industry. Determine which key success factors, such as the ability to attract new customers, ability to retain existing customers or a low cost production structure, make the most sense to use when establishing strategic goals for your company.

Trade association publications for your industry can also provide critical data for your industry analysis.

Identify factors that help your company

Distinguish how companies whose profits reflect growth in your industry are able to structure their business to cope with changes in customer needs. Assess your strategic objectives and your business activities to ensure that they align with achievement of your key success factors.

Based on your research, plan how to structure your company to create a competitive advantage. Rank your key success factors by determining why customers choose between competitors, what customers feel are required for products or services in your industry and what value your product or service represents, to gain a competitive edge.

Articulate how you will gain market share.

Identify factors that help your company

List the key success factors for your industry that influence your company structure in the executive summary portion of your plan. Cite risks, such as high investment costs, lack of trained personnel in your area or changing technology or regulatory restrictions.5 critical factors to ensure that your strategic plans are successfully implemented.

About Us. Mission and Values; 5 Key Factors to Successful Strategic Planning.

What Are Internal & External Environmental Factors That Affect Business? |

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Internal Factors that May Affect the Business Organization

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By developing your “ergo eyes” and adhering to these fundamental ergonomic principles, you can help your company identify risk factors that oftentimes go unnoticed, measure that risk with an objective ergonomic evaluation and implement control measures to reduce/remove ergonomic risk factors.

Review Injury Records. Looking at your injury and illness data will help identify ergonomic problems. These data can be obtained from reviewing the company's OSHA Injury and Illness Logs, reports, workers' compensation records, first aid logs, accident and near-miss investigation reports, insurance company reports and worker reports of problems.

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