Critical Success Factor Analysis as a Methodology for MIS Planning
By: Michael E. Shank Financial Institutions Assurance Corporation Post Office Drawer 2688 Raleigh, North Carolina Andrew C. Boynton Robert W. Zmud The University of North Carolina School of Business Administration Carroll Hall, 012A Chapel Hill, North Carolina
Historically, FIAC's operating posture, in regulating insured financial institutions throughi field work and cooperative efforts with state authorities and Independent auditors, was reactive in nature. Through insights gained via the Critical Success Factors (CSF) study, the Corporation has become much more proactive in its relationships with member institutions. There has been a rethinking of FIAC's information infrastructure, an MIS Department has been created, and information technology is now regarded as a strategic tool with which to leverage corporate productivity and enhance FIAC's ability to compete in the marketplace. The CSF methodology has also been adopted as a continuing methodology for both departmental and strategic planning.
FIAC is a private deposit insurer created in 1967 pursuant to North Carolina law. The broad statutory purposes of the Corporation are: 1) to insure the deposits of member financial institutions, and 2) to assure the liquidity of its member institutions. More specifically, FIAC must protect the savings of depositors in its insured institutions by seeing that these institutions maintain an adequate net worth and cash flow. As a private deposit insurer, FIAC provides services similar to the services provided by the Federal Deposit Insurance Corporation (FDIC). FIAC competes with federal deposit insurers and other private deposit insurers for financial institutions' business. FIAC's original base of eleven insured Institutions had total savings of $50 million at the end of 1967. At the end of 1983, FIAC insured 65 Institutions... [continues]
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