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While Objectives and Key Results (OKR) is accepted as the framework that modern companies adopt to drive their performance – organizations’ need clarity about how to define these OKRs for themselves: We typically hear questions like – How to compose good OKRs? What should I include in my OKRs? What are the examples of OKRs?What is the difference between an objective and key results?
An objective describes the main goal that a company hopes to achieve in the long run, while key results are the expected outcomes. Initiatives define the work that needs to be done to achieve the key results. Apart from these three aspects, OKR also constitutes a set of rules meant to help workers prioritize and measure the results of their work.How to pick objectives?
Another tool for picking objectives is the 5 Whys method. With this method, you ask why five times in an attempt to identify the reasons for following a particular action, which will help you to analyze your OKRs. In contrast to qualitative objectives, key results are quantitative.What happens when you achieve key results?
You might continue with the same objectives from quarter to quarter, but you either achieve key results or adapt them to meet new circumstances. If you achieve key results, you might convert them to key performance indicators (KPIs), which track daily business processes.