Written by our Master Joris Peucheret
Does your business apply Objectives and Key Results (OKR)?
Regardless of your Organisation’s size and growth ambition, it is valuable to adopt good working practices that can help your business scale.
Many initiatives are started in a business to try to achieve the ambition, yet it can be challenging to enable cross-functional alignment and validate the right capacity to make it work with clear measurable outcomes.
This formula may help….
Objectives and key results (OKR) is a goal-setting framework that helps organisations define goals — or objectives — and then track the outcome.
ORK has been essential to enable Google’s global growth journey* and is now a formula adopted across leading global businesses.
OKR is used to track progress as teams move towards achieving objectives that are ambitious and in alignment with the entire organisation.
OKR formula is to set an objective, which means “what I want to have accomplished,” and the key results, which are “how I’m going to get it done.” Thus, with OKR, a goal isn’t just what you want to achieve; it must include a way to measure achievement.
(nuance: KPIs and OKRs are used as performance indicators, OKRs can be seen as an evolved KPI, as they are more specific with quantifiable results)
*Want to know more about Google OKR Playbook?….read more here.
Want to know more on this topic? Send us an email at hello@mastersofscale.nl.