The process we go through in our business journey can sometimes be overwhelming. Looking back and reflecting on past mistakes can only get us so far. The real progress is looking ahead and charting our next steps systematically and robustly. Business goal setting is a tool that businesses use to get to the next level. Setting goals can make a substantial difference to our business.
In this article, let’s look into a goal-setting framework called “OKR,” popular with big companies worldwide. Also, find some ready-to-use OKR templates and OKR examples.
What are OKRs?
Objectives and Key Results (OKRs) is a goal-setting technique within an organization that helps define goals or objectives, measure results, and have all the team members work towards one common goal. They are meant to set and communicate strategy and goals for a specific period of time for an organization, teams, and team members.
OKR consists of two components:
Difference between Traditional Goals and OKRs
A Few OKR Examples:
A few OKR Templates
Find more OKR Templates for your reference.
Benefits of OKRs for businesses.
OKRs make it clear and easy for all the organization members to understand their contribution to the company’s success. It effectively aligns the whole team towards a common goal.
Not just this, the OKR framework provides the following benefits:
Best practices in OKR
1. Divide OKRs into two categories, committed goals, and aspirational (or “stretch”) goals
2. Watchout for Sandbagging
3. Do not fall into the trap of BAU OKRs
OKRs are powerful goal setting and measurement techniques. Fortunately, many companies have an accumulating body of experience in using this tool. Implementing and measuring this tool has given businesses a powerful boost to achieving their objectives.
As you consider using this tool, take advantage of the best practices and OKR templates available on Slideuplift.
Happy goal setting!