Key Business Factors Steven Thorne Steven Thorne Slide 2
Overview What are Key Business FactorsWhat are Key Business Factors
Understanding Key Business FactorsUnderstanding Key Business
Factors George SteinerGeorge Steiner Japanese ApproachJapanese
Approach Examples in real worldExamples in real world Slide 3
Introduction Key Business Factors ?Key Business Factors ? Measures
or indicators that are significantly related to the business
success of a particular firm.Measures or indicators that are
significantly related to the business success of a particular firm.
Slide 4 Understanding Key Business Factors If you dont know where
youre going, you probably will not get there. (Yogi Bera)If you
dont know where youre going, you probably will not get there. (Yogi
Bera) Contribute to the overall improvement of a firms business
results.Contribute to the overall improvement of a firms business
results. Each firm is uniqueEach firm is unique Slide 5
Understanding KBFs Factors that all firms must address from the
beginning.Factors that all firms must address from the beginning.
Good Products and Good ServiceGood Products and Good Service
MarketingMarketing SatisfactionSatisfaction Minimization of
costsMinimization of costs Managing of AssetsManaging of Assets
Cash FlowCash Flow Etc.Etc. Slide 6 Understanding KBFs
ExampleExample A key business Factor for an organization may be
getting the deliveries out fast and reliablyA key business Factor
for an organization may be getting the deliveries out fast and
reliably Slide 7 Cross-Functional Teams Teams that enlist people
from a variety of Functional groups within the firmTeams that
enlist people from a variety of Functional groups within the firm
(Dr. Thomas Foster) (Dr. Thomas Foster) Slide 8 Exercise Form
Groups of four to six peopleForm Groups of four to six people
Should include a secretary (note-taker)Should include a secretary
(note-taker) Brainstorm some key business factors that would be
relative for a financial firm or instituteBrainstorm some key
business factors that would be relative for a financial firm or
institute Slide 9 George Steiner Study on the Strategic Factors of
BusinessStudy on the Strategic Factors of Business Survey to 700
executives, treasures, planners, and others of many Financial
InstitutesSurvey to 700 executives, treasures, planners, and others
of many Financial Institutes Provided a list of FactorsProvided a
list of Factors Asked to rank the importance of each 1-5, 5 being
of most importanceAsked to rank the importance of each 1-5, 5 being
of most importance Slide 10 George Steiner Factors for Todays
PerformanceFactors for Todays Performance Most important factor was
to Raise Short-term CapitalMost important factor was to Raise
Short-term Capital 2 nd was to Raise debt at low cost2 nd was to
Raise debt at low cost Raise equity at low costRaise equity at low
cost Get High quality Top ManagementGet High quality Top Management
Slide 11 George Steiner Factors For Future ImportanceFactors For
Future Importance The most important factor for the future was to
Get High Quality ManagementThe most important factor for the future
was to Get High Quality Management Others includedOthers included
-Managerial Drive for Profits -Train future Domestic Managers
-Better Long-range Planning Slide 12 George Steiner Top 10 factors
listed by Chief Executive OfficersTop 10 factors listed by Chief
Executive Officers Get High Quality top managementGet High Quality
top management Managerial drive for profitsManagerial drive for
profits Train future domestic managersTrain future domestic
managers Vigor in sales organizationVigor in sales organization
Service to customersService to customers Slide 13 Georger Steiner
Top ten Contd Better employee relationsBetter employee relations
Better overall controlBetter overall control Better long-range
planningBetter long-range planning Competitive stockholder
returnCompetitive stockholder return Maximize stockholder
returnMaximize stockholder return Slide 14 Japanese Approach Use
three variables to determine Key business FactorsUse three
variables to determine Key business Factors Business
ResultsBusiness Results Employees moraleEmployees morale Corporate
FlexibilityCorporate Flexibility Slide 15 Business Results Ranking
of the top 5 Business factors contributing to Business
ResultsRanking of the top 5 Business factors contributing to
Business Results Ratio of R&D expenditure to salesRatio of
R&D expenditure to sales Ratio of new equipmentRatio of new
equipment New-product ratioNew-product ratio Channel of
distributionChannel of distribution Employee MoraleEmployee Morale
Slide 16 Employee Morale Top 5 Business factors contributing to
Employee MoraleTop 5 Business factors contributing to Employee
Morale Wage LevelsWage Levels Level of basic researchLevel of basic
research ComputerizationComputerization Human Resource Development
for rank and file employeesHuman Resource Development for rank and
file employees Level of applied researchLevel of applied research
Slide 17 Corporate Flexibility Top 5 business factors positively
contributing to Company flexibilityTop 5 business factors
positively contributing to Company flexibility Employee
MoraleEmployee Morale Ratio of R&D expenditure to salesRatio of
R&D expenditure to sales Overseas strategiesOverseas strategies
Presidents TypePresidents Type Business Goals (3 years ago)Business
Goals (3 years ago) Slide 18 Solaris Wireless Key Business
FactorsKey Business Factors Retaining Existing CustomersRetaining
Existing Customers Cost Efficient and Rapid Delivery of
servicesCost Efficient and Rapid Delivery of services 24X724X7 Grow
With Your BusinessGrow With Your Business Slide 19 United States
Army Key business factorsKey business factors Rate of deterioration
of our infrastructureRate of deterioration of our infrastructure
Political Support for studies and projectsPolitical Support for
studies and projects Demand for products and services in our areas
of expertiseDemand for products and services in our areas of
expertise Reputation of the District for delivering quality
products and services, on time, within budgetReputation of the
District for delivering quality products and services, on time,
within budget Slide 20 U.S. Army KBFs Contd Safety Record on corps
projectsSafety Record on corps projects Funding availability and
authoritiesFunding availability and authorities Environmental
consciousness of the public and the CorpsEnvironmental
consciousness of the public and the Corps Slide 21 Summary Key
Business Factors are not easily defined, they often involve team
decisions and non bias goals for an organization. The overall
objective for identifying Key Business Factors is to improve
business results. These results will improve the companies
profitability and market share. Slide 22 Bibliography Shimizu,
Ryuei. Success Factors. Tokyo: Chikuro Shobo, 1989. Steiner,
George. Strategic Factors in Business. New york: Financial
Executives Research Foundation, 1969. Resnik, Paul. The Small
Business Bible. New York: John Wiley & Sons, 1988. Slide 23
Bibliography contd www.mvs.usace.army.mil/stra_pla
n.pdfwww.mvs.usace.army.mil/stra_pla n.pdf. 15 February 2001.
www.mvs.usace.army.mil/stra_pla n.pdf www.sun.com/solaris/ds/ds-
solariswirelesswww.sun.com/solaris/ds/ds- solariswireless. 13
February 2001. www.sun.com/solaris/ds/ds- solariswireless
