Reach your most important business goals with Objectives and Key Result
Every business requires a mission and vision to serve as a guide for all of its activities. What the business hopes to achieve through its existence is known as its mission. A company's vision provides useful guidance on how to carry out the goal by taking into consideration both where it is today and where it aspires to be in the future.
Example Company: Telsa Mission: To create the most compelling car company of the 21st century by driving the world’s transition to electric vehicles. Vision: To accelerate the world’s transition to sustainable energy.
OKRs are hierarchical, meaning company objectives must be set before individual and team objectives. It's typical to set annual objectives and then break them down into quarterly ones. This approach works for all company sizes.
Annual objectives are highly ambitious, whereas quarterly objectives are derived from annual OKRs and a more tactical and quantitative.
Teams will align their goal-setting to help achieve the company’s Objectives.
Example
Annual Objectives Quarterly Objectives Grow our international business. Expand overseas salesforce. Achieve top of mind recall for key audience segments. Deliver multiple engaging brand experiences. Gain more industry prestige to be recognised as an industry leader. Develop compelling thought leadership material.
Once company objectives are set, they are broken down into individual OKRs to ensure alignment with org goals. Be careful not to take on too many objectives at once. The quality of the job would suffer, and it would take longer to see important results and outcomes. Keep team and individual objectives to 3–4 over a quarter to achieve success.
Objective 1: Launch the New Product Successfully
Objective 2: Develop a New Product Vision
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