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Definition: a Critical Success Factor is some feature of the internal or external environment of an object, system or organization that has a major influence on achieving its objectives or goals.
It is a necessary, required element for ensuring the success of the corporate strategy of a firm in order to achieve its corporate goals and corporate vision.
The realization of an objective at some level typically depends on several CSFs, which are measured by several KPIs with corresponding performance targets.
CSFs are mechanisms to cascade high-level organizational goals into lower-level, more specific aims, which are easier to measure.