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OKR, or Objectives and Key Results, is a target-setting methodology that effectively sets and tracks the end goals. It was developed by Andy Grove of Intel and Gary Kennedy of Oracle. With time it has become a proven & trusted framework, and now many organizations are implementing this worldwide.
The basic concept of OKRS is to track progress, build alignment and stimulate engagement around measurable goals.
Since the mid-1980s, companies have been using Objectives and Key Results(OKRs). In this guide, we will discuss all about OKR and its essential aspects.
Who Should Read this Guide?
Although OKRs can benefit almost every organization, this guide has been specifically designed with startups in mind. A startup faces several challenges like the improper alignment of teams with the company’s objectives, lack of clarity of vision, and derailment of plans, which consequently prevents them from attaining their full potential. This is where OKRs can come in handy.
How to Use this Guide
OKR allows teams to focus on significant picture outcomes and achieve more than the team thought possible. Even if they don’t wholly attain the original goals, the OKR framework is a tool for bridging the gap between thinking and achieving ambitious commercial goals. Still, it may also be used for personal objectives. OKR stands for “Objectives and Key Results,” It has changed the way companies and emerging businesses approach goal-setting. Even if they don’t reach the initial aim, OKR helps teams focus on extensive picture results and achieve more than they imagined feasible.
Generally, there are three ways in which OKRS can be implemented in an organization:
- Top-down
- Bottom-Up
- Negotiation
The most distinguishing feature of OKR is that it is unique to each firm. Because of its flexibility, the organization may modify it to the business model and add a little bit of individuality to work with this framework.