Objective: Exploring essential key success factors for small business startups
Introduction: You will examine and develop a personal business implementation; explore community and local business regulations and resources; compare and contrast problem-solving, decision-making strategies, and logistics; and identify networking and team-building support for small businesses.
The essay for this lesson is required to be a minimum of 750 words (excluding title and reference pages) that clearly demonstrate your understanding of the activity. Essays should have a clear introduction, thesis statement and conclusion, written in APA format (Purdue OWL). A minimum of three sources, at least two from the lesson, must be cited in-text and in the Reference list.
Step 1: Review the following reading
Review the following article to help you understand and define your own KSFs:
Grunert, K. G., & Ellegaard, C. (1992). The concept of key success factors: theory and method (Vol. 4, pp. 505-524). MAPP.
Step 2: Address the following
Read the following questions, and use what you have learned about Business Basic Startups to summarize your responses in a 750 word essay:
Describe how a company identifies its key success factors (KSFs).
Select a company, and provide three examples of KSFs in its industry.
Explain how the company uses the KSFs to help create company goals and objectives within the strategic management process and formulates strategic options and appropriate strategies for achieving these goals.
Step 3: Write your essay
Write your essay to address all the questions above.
Use these writing guidelines:
Include a cover page and references in addition to your required word count.
Use correct APA format
Use size 12 Times New Roman
Use section headings to organize
Include in-text citations
Use correct spelling, grammar, sentence structure and verb tense
Developing a business strategy and thinking strategically from The, E. and Kourdi, J. (2015). Business strategy: a guide to effective decision-making.
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