Without clear objectives, it is impossible to manage operations within a business effectively and efficiently. Businesses that develop clear objectives and key result measurements are more likely than others to build strong operations management systems.
Objective and Key Result (OKR) measurement is a management strategy for goal setting within organizations that helps drive progress and raise accountability across members of the team. The purpose of OKRs are to connect company, team, and personal goals to measurable results.
OGSM stands for Objectives, Goals, Strategies and Measures. It is a strategic planning method that provides clear goals and identifies the strategic choices to achieve them.
Key performance indicators (KPI) are part of the OGSM planning method. KPI stands for key performance indicator and is a type of performance measurement used to evaluate the success of an organization or of a particular activity.
In order to develop a list of KPIs that will drive growth within your organization, your team should start by looking at the basics to understand your organizational objectives. This involves looking at your main goals and then breaking these down to understand how you plan on achieving them. Objectives are basically business strategies while KPI’s are the quantifiable measure of them when they are successful.
OKRs were originally developed in the 1970s in California by Intel President Andy Grove. Now, OKRs have spread across many companies, especially when they were introduced to Google by John Doerr. OKRs are regularly used by tens of thousands of companies from startups to Fortune 500 tech giants. Google, LinkedIn, Intel, Zynga, Sears, Oracle and Twitter are just a few businesses that track and measure progress across key metrics OKRs.
You can check out the [OKR Template