Every organization is set up with one objective in mind, to grow. There are many companies that have succeeded and they have grown to become one of the most adored companies across the globe. There are companies, however, that have not been successful in growing. There are many things that can make one company to grow but not the other. One of the major contributors is the strategies of a company and how the company works toward it goals. It is, therefore, vital for you to make sure that you understand what the successful companies do so that they continue growing. Research shows that these big companies use objective and key result (OKR) strategy in their company.
You need to know that objective and key result is an invention done by Intel Corporation. The concept has now been adopted by big companies like Zynga, Google, Uber, Twitter, Amazon, Netflix, Samsung, Dell, Facebook, Dropbox, LinkedIn, among others. Companies use objectives and key results concept to set company goals and strategies over a given period. The goals and strategies are for the whole organization as well for teams inside the organization. After the set period elapses, your company OKRs will provide a good reference to show how your company has successfully executed company objectives.
Objectives and key results concept is vital in employee motivation. They will be able to work knowing what they are supposed to achieve. Your company employees will also realize how their contribution leads to the company success. Employees and various organizational teams will be able to realize their potential and that they can be able to achieve even tough goals.
It is important that you know how to set up objectives and key result for your company. The major step you are supposed to set up company objectives. These objectives should be tough. Your organizational teams do not have to attain them in totality by the should be close. Setting objectives requires critical thinking so that you set realistic goals. There should also be a clear way of how the objective will be attained. The other vital aspect of the OKR is defining measurable key results for your objectives. The key results should be achievable and quantifiable. Key results should be gradable and they are considered to be numerical expressions of company success. Key results are mostly concerned with growth, engagement, revenue, and the performance of the company. Having a quantitative measure of your company success is vital than having a qualitative approach on its own. For more information, click on this link: https://en.wikipedia.org/wiki/Strategic_management.