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The Strategic Factor System is a practical best practice system that:
- provides organisations with a clear competitive edge
- helps create strategy that can be measured and tracked
- connects the entire organisation to corporate direction
- links strategic planning to performance measurement.
The Strategic Factor System is built on identifying an organisation's or business unit's key stakeholders. These are organisations, business units and individuals with whom an organisation or business unit interacts and on whom it depends for success (e.g. groups of customers, employees, owners, suppliers).
The foundation for stakeholders lying at the heart of this process was laid down in the early 1980s. What has been lacking until our system was a method that provided the tools for management to produce detailed strategies and performance measures. This is what our Strategic Factor System does.
Its called the 'Strategic Factor' System because strategies and measures developed by it are based on the strategic factors relevant to key stakeholders.
We invented the term 'strategic factors' to cover items not previously identified separately. Strategic factors describe those few things that an organisation or business unit has to get right in order to succeed with its key stakeholders. They are not the same as 'critical success factors' or 'key result areas'.
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