Key Business Factors Notes: Definitions & Explanations PDF | Download eBooks
Study Key Business Factors lecture notes PDF with total quality management definitions and explanation to study What are Key Business Factors?. Study key business factors explanation with TQM terms to review total quality management course for online MBA programs.
Key Business Factors Definition:
Key business factors are factors significantly related to the business success of the firm.
Managing Quality: Integrating the Supply Chain by S. Thomas Foster
Key Business Factors Notes:
For benchmarking practices, some performance measures are to be identified. These measures are chosen on the basis of key business factors (KBF) of the firms. Key business factors measure the level of success of an organization and position it against its competitors in the market. These factors enable an organization to grab a big chunk of the market share. Some of the key business factors include customer satisfaction, strategic planning, finances, marketing, employees, processes etc. One or a number of these factors can contribute to the success of a business and the organization should focus more on that area to retain the success.
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