The implementation of the balanced critical factor index methodology in the strategy redevelopment process

Abstract

Strategic planning and development is a critical yet often overlooked issue in company’s operations. The planning of development as well as addressing the distribution of available resources should be done systematically rather than instinctively however, many companies still do not have any reliable method that would facilitate the decision making processes at their disposal.This article aims at presenting the innovative analytical method- Balanced Critical Factor Index (BCFI) for addressing the need for change in company’s operational strategy according to changes in available technology and knowledge. By examining a wide array of indexes,the presented method is expected to suggest the directions of development. The presented method also addresses the challenges of the complex process of decision-making. Moreover,the empirical evidence gathered in the studied case company serves as a source of important feedback regarding the further improvement of the BCFI method.