It is said that OKRs (Objectives and Key Results) is a simple methodology with a simple language. There are no hard and fast rules, and there is no GAAP (Generally Accepted Accounting Principles). So, much of what has been written of OKRs, taught by consultants, and espoused by OKR Software providers, is open to interpretation. As a result, we have misinterpretations, misunderstandings, and outright “Myths” about the process.
This series of blogs will debunk many of the most prevalent misconceptions.
OKR Myth #6: OKRs only work well in a tech environment
OKRs do work exceedingly well in high tech companies where agility and teamwork are crucial. They were developed in a tech company, Intel, by Andy Grove. The protocol was introduced in tech companies and enjoyed great early success in tech companies such as Google, Intuit, and LinkedIn.
Today, however, many companies in other sectors are using the OKR (Objective and Key Results) methodology to drive alignment, engagement, accountability, and to improve the execution of their strategic plans. Companies such as Amazon, Anheuser-Busch, BMW, and Walmart.
The OKR protocol can work in virtually any environment. In his New York Times bestseller, “Measure What Matters,” author John Doerr refers to OKRs as a “Swiss Army Knife.” The methodology works in all types of organizations, regardless of the company’s life-stage; start-up, scaling-up, or mature.
The system works exceedingly well in start-up companies where everyone needs to work together. They also provide a history of early successes for potential investors during capital raising efforts.
Do you manage a company or teams (either as a CEO, a senior executive, a middle manager or even a front-line manager)? Do you set and track objectives? Does aligning employee performance to business goals matter, and are you responsible for driving results? If so, please check out a live demo of Atiim OKR & Goals Management Software and we’d love to hear what you think about it. Thank you!