OKR
The letters OKR stand for Objectives and Key Results and is a marketing method used to link an organization's objectives to measurable results. The idea behind OKR is to use a method that focuses on better cooperation between departments and employees. This makes it easier to communicate strategic objectives internally, so that all employees within an organization will move in one uniform direction. OKRs are therefore very practical to implement changes in a very efficient way. This method is therefore excellent for organizations operating in industries that are highly subject to change. Google, among others, frequently uses the OKR method.
OKRs are defined at the three levels below:
- Company level
- Team level
- Personal level
The OKR method provides answers to two essential questions:
- What do we want to achieve?
- How do we know if the goals set have actually been achieved?
The OKR method consists of the three components described below:
- Objectives. These are the long-term objectives that stem from an organization's mission and vision. These objectives should provide direction, be inspiring and understandable.
- Key results. These are the signposts that indicate how the objectives are to be achieved. Key results can therefore be seen as important signposts that must be measurable, ambitious and influenceable.
- Initiatives. These are the "to do's" (read: activities) that must be finished to achieve the key results. If an objective is the final goal and the key results are the signposts, the initiatives can be seen as the descriptions of how to get there. In practice, this means that the initiatives must be specifically formulated and can be controlled.
Benefits of applying OKRs
Applying OKRs offers many practical advantages. Among other things, the OKR method makes it easier to formulate and execute a marketing strategy. In addition, OKRs allow an organization to act in a flexible manner and provide direction for business focus. Also, the OKR method promotes internal collaborations where each person involved knows what is expected of him or her.
