COMM101 Lecture Notes - Lecture 20: Toronto Stock Exchange, Financial Intermediary, Tim Hortons

• School: University of Waterloo
• Department: Commerce
• Course: COMM101
• Professor: Richard Trefler

Document Summary

Criical success factors are elements a irm must pursue to ensure long-term success and set itself apart from its compeitors. Obviously, the most important criical success factor is achieving inancial success as capital is fundamental in keeping a business operaional and moivated. Although, all the criical success factors are interdependent and must all be strived for in order for a business to succeed. For example, a irm cannot achieve inancial success, if they are not meeing customer"s needs. To meet the needs, a irm must produce quality products. In order to beter create products they must always encourage innovaion and employee commitment to keep their overall compeiive advantage. These factors are important to understand as they all inter-connectedly and add to a business" overall success. Each factor must be strived for which an equal amount of efort or else ignoring one could compromise the long-term performance of the irm.