Organizational goals and objectives are often divided by a thin line of what they want to achieve and what they can actually accomplish given their resources. Apart from effective communication and micromanagement techniques, companies have to set goals to motivate their workforce and other stakeholders to work towards that common objective. Companies struggle to develop a measurable, consistent, and predictable business model, which impacts their decision-making in one way or another. This is where OKRs, an acronym that stands for Objectives and Key Results, come in handy to help managers enhance their teams’ performance and productivity.
We see this becoming more and more apparent post-covid 19 outbreak (20′, 21′) and the transition from workplace management to remote management and an increased necessity in employee trust, transparency and measuring KPIs that matter.
OKRs is increasingly becoming a powerful strategic management tool for businesses. Several reputable international companies have adopted it, including Google, Intel, BMW, Oracle, Twitter, Disney, Facebook, and Dropbox (Post 2019, par 51). Although OKRs are not the sole reason for these organizations’ success, they have been of significant value and helped to redefine organizational management. Thus these companies continue to implement OKRs up to today despite having thousands of workers. OKRs have several benefits as they help provide a clear direction, effective communication strategy, accountability, and strategic alignment and enable managers to track their objectives and outcomes. This paper will examine how Objectives and Key Results support strategic management, thereby improving an organization’s effectiveness and performance.Read More »