Critical success factors (CSFs) are the essential areas of activity that must be performed for you to achieve the business targets you have set out for your business. Identifying CSFs for your pharmacy helps the whole team to focus on the most important areas.
This process will also help you to get to the very heart of what is to be achieved and how you will achieve it. The following are some examples of objectives and CSFs that could apply to a typical community pharmacy.
Objective: To increase pharmacy turnover by 12 per cent
CSF: Attract customers and connect health solutions
Objective: Provide distinct health solutions in the front of store
CSF: Sell more product
Objective: Provide the highest quality health information and advice
CSF: Knowledgeable staff who can link the dispensary to the front of store (identify and increase add-on sales)
Objective: Sustain a customer satisfaction rate of 98 per cent
CSF: Carry out more health-focused training and understand what our customers want us to stock
Objective: Introduce relevant healthcare services to attract more customers
CSF: Identify viable healthcare services
Objective: Extend store space to accommodate new 'healthcare destination' products and customers
CSF: Secure financing for expansion, and manage the building work and any disruption to the business
Objective: Promote the consultation room as a healthcare destination for private appointments and services
CSF: Make it easy for customers to understand what the pharmacy offers.
References and further reading
A Roberts, 2007. Community Pharmacy:Strategic Change Management, New York, McGraw Hill Medical.
Kim C, Mauborgne R, 2005. Blue Ocean Strategy, Harvard Business School Press.
