You have quite likely heard of organizations such as Google, Facebook, Amazon, and other firms that are certainly involved in your life in many different ways.
Google, for its part, was able to grow its organization from a handful of people to over sixty thousand people and increase its revenue base from $10 million to over $60 billion in worldwide revenue.
The other firms were able to accomplish similar feats, grow their organization, deliver compelling products, and please their core audiences.
Of course, these organizations are all about technology and quite certainly have been able to boost their revenues, profits, and general value by the tailwinds of technology adoption and paradigm shifts within the world.
But a few of their strategies are quite certainly replicable for your organization as well. You can utilize these strategies and turn your organization or division into a growth engine. One can certainly see this link between the right plans, targets, and a successful, thriving organization.
See, these organizations were able to utilize the concept known as OKR to transform and evolve. Learn how you can utilize this performance management tool to elevate the status of your organization today.
See This Link Between OKR and Company Growth
The first aspect you should keep in mind with this concept is the simple foundations. What is the definition of an OKR?
The concept breaks down into two different parts; objectives and key results. Of course, objectives are what you seek to obtain and key results are how you will gauge the level of progress with relation to your goals.
The paradigm came about because of the significant and powerful leader, Andy Grove. He used to work for Intel in its heyday and was able to implement this system, Objectives and Key Results (OKRs), to foster a collaborative work environment.
It is no surprise that firms ranging from Google and others would quickly pick it up to emulate the success of legends like Andy Grove at Intel. The core idea with OKRs is to ensure speed, progress and focus on moving company goals forward.
There is quite certainly a direct link between OKRs and company growth. These objectives distill your organizational strategy into more bite-size pieces that enable individuals within various divisions to understand why they are working on a specific task.
They can mean a great deal for your organization if they are straightforward.
How To Implement OKRs Into Your Organization
The first point with OKRs is that you must ensure you have a top level view of your organization and where you are trying to take your company over the next few years. Then you would look at it with your team members and understand their thoughts and inner processes.
After you have done a high level overview and a bottoms up approach, you can start to ask these questions. Even better, you can assign different team leaders to ask this question or set this statement to their team members.
I will do X as measured by Y and Z or I will strive toward this objective and will measure myself or ourselves with these key results.
If you can set the right objectives with your teams that work in line with your company goals, you will be able to set objectives and have key results occur regularly. Most organizations set audacious objectives for the quarter. They look at the key results through as little two metrics that measure the advancement made toward the outcomes set forth.
Suppose you can remember that key results are all about outcomes and keep your overall objectives audacious but straightforward. In that case, you can overcome many hurdles and succeed.
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