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OKRs (Objectives and Key Results)

OKR stands for Objectives and Key Results. It is a goal-setting framework that helps organizations implement strategy. The OKR framework encourages organizations to set ambitious goals and track their progress.

Here's how it works:

  1. Objectives: These are what you want to achieve. They should be clear, inspiring, and challenging, but also achievable. Objectives should align with the company's vision and goals. An example of an objective could be "Increase our market share in the mid-tier segment".

  2. Key Results: These are specific measures used to track the achievement of that objective. They are quantifiable, measurable, and time-bound. Key results should indicate progress towards the objective. For instance, continuing with the previous example, a key result could be "Increase quarterly sales by 20% in the mid-tier segment".

The OKR framework encourages transparency and alignment within the organization. All members of an organization can see what others are working on, promoting collaboration and ensuring everyone is working towards the same goals. It also allows for regular check-ins and adjustments as necessary.

OKR methodology was originally developed by Intel and has been adopted by numerous high-tech companies, including Google, which has used it since its early days.

Remember, OKRs are designed to set and track goals, not to evaluate employee performance. They should be ambitious and it's typically understood that not every OKR will be fully achieved. The intention is to promote aiming high and continuous improvement.

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