What importance does the critical success factor have in business?

The critical success factor in business is of great importance. One is able to create a common point of reference to help measure and direct the the success of their business.

Critical Success Factors are those essential areas of activity that must be performed well to achieve the mission, objectives or goals for your business or project. Rockart defined CSFs as: "The limited number of areas in which results, if they are satisfactory, will ensure successful competitive performance for the organization. They are the few key areas where things must go right for the business to flourish. If results in these areas are not adequate, the organization's efforts for the period will be less than desired."