OKRs (Objectives and Key Results) is a goal-setting framework used to help teams set and achieve ambitious goals. The framework is designed to align individual and team goals with the overall company's objectives, which helps to improve focus and drive results.

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The OKR framework consists of two main components: Objectives and Key Results.

• The Objective is a specific, measurable, and time-bound goal that is aligned with the overall business strategy. Objectives should be challenging but achievable, and they should inspire and motivate the team to strive for excellence.
• The Key Results are specific metrics that are used to track progress toward achieving the objective. Key Results should be measurable and quantifiable, and they should be aligned with the objective.

The OKR framework provides a clear roadmap for achieving goals and enables teams to measure progress, identify areas for improvement, and make data-driven decisions. The framework encourages teams to set ambitious goals that push the boundaries of what is possible while remaining achievable.

Practical Example

Suppose a company wants to design a mobile application for its customers to order food online. The company's goal is to increase revenue and customer satisfaction through the application.

OKRs

Objective: Increase the number of orders by 25% in the first three months of launching the application.

Key Results:

• Increase the number of daily active users by 20% in the first three months.
• Increase the conversion rate of the application by 15% in the first three months.
• Increase the average order value by 10% in the first three months.

Objective: Achieve a user satisfaction rating of 4.5 out of 5 stars within the first six months of launching the application.