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I’m very confused between an objective and a CSF. Could you please differentiate the following into
A) objective
B) CSF1.Secure contracts with farmers
2.Improve market share
3.Successful negotiation of cost effective vehicle servicing contract
4.Establish effective advertising campaignCSF’s are factors that are needed for the business to be successful (and come from the mission statement). Improving market share is a CSF.
Objectives are more specific targets that will be set that help to achieve the CSF’s., so 3 is more likely to be an objective.
However, it does depends on the nature of the business (for example, I do not know what farmers have to do with anything given that you have written nothing about the nature of the business).
Why are you attempting a question for which you do not have an answer? You should be using a Revision Kit from one of the ACCA Approved Publishers – they have answers and explanations.
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